2011-11-10T09:19:55-06:00 2010-12-31 RSM MCGLADREY INC 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2010-01-01 521053406 OPEN SPACE INSTITUTE INC OPEN 2122908200 1350 BROADWAY NO 201 NEW YORK NY 100187799 ROBERT K ANDERBERG ESQ 2122908200 2011-11-09 1 MARTIN GREIF 2123721000 2010 2016-02-24 21:20:13Z CHRISTOPHER J ELLIMAN 1350 BROADWAY NO 201 NEW YORK NY 100187799 13984123 0 X WWW.OSINY.ORG X 1974 NY TO PROTECT SCENIC, NATURAL AND HISTORIC LANDSCAPES. 20 19 44 0 2700 -2162 3908524 13100132 73914 64717 784848 385600 433810 366678 5201096 13917127 265470 711417 0 0 1162863 1185271 0 0 40067 2942259 2360378 4370592 4257066 830504 9660061 31019712 11444556 23732195 8236287 7287517 3208269 X SEE SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENT. 0 0 1779657 665235 SEE SCHEDULE O FOR PUBLIC POLICY PROGRAM ACCOMPLISHMENTS. 878633 34007 54517 SEE SCHEDULE O FOR ENVIRONMENTAL PARTICIPATION AND EDUCATION PROGRAM ACCOMPLISHMENTS. 783060 SEE SCHEDULE O FOR ACQUISITION PROGRAM ACCOMPLISHMENTS. 296826 41950 7500 SEE SCHEDULE O FOR OTHER PROGRAM SERVICE ACCOMPLISHMENTS. 296826 41950 7500 3738176 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 1 0 1 1 1 0 0 0 0 1 1 0 0 0 1 88 0 1 44 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 X 20 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CT GA MA ME NC NH NJ NY PA TN WA X JOSEPH G HOLLAND 2122908200 1350 BROADWAY SUITE 201 NEW YORK NY 10018 X JOHN H ADAMS 3.00 X X 0 0 0 PETER A BIENSTOCK 3.00 X X 0 0 0 CAROLINE NIEMCZYK 3.00 X X 0 0 0 PAUL J ELSTON 3.00 X X 0 0 0 EDWARD A AMES 3.00 X X 0 0 0 SUSAN BABCOCK 3.00 X 0 0 0 ELIZABETH BORDEN 3.00 X 0 0 0 GILMAN S BURKE 2.50 X 0 0 0 JOHN CAHILL 3.00 X 0 0 0 HOLLY HEGENER 3.00 X 0 0 0 T JEFFERSON CUNNINGHAM III 3.00 X 0 0 0 J MATTHEW DAVIDSON 3.00 X 0 0 0 JOHN ERNST 3.00 X 0 0 0 SAMUEL G HUBER 3.00 X 0 0 0 FELIX KAUFMAN 3.00 X 0 0 0 SAMUEL W LAMBERT III 3.00 X 0 0 0 W BARNABAS MCHENRY 3.00 X 0 0 0 KATHERINE O ROBERTS 2.50 X 0 0 0 HUME R STEYER 3.00 X 0 0 0 PATRICIA F SULLIVAN 3.00 X 0 0 0 CHRISTOPHER J ELLIMAN 6.80 X 49642 242250 53324 JOSEPH J MARTENS LEFT ON 11911 1.60 X 9838 235382 28975 PETER HOWELL 17.10 X 81185 109107 19218 ROBERT K ANDERBERG 1.80 X 7558 162845 20243 ANTONIA BOWRING 13.00 X 45296 93638 24844 SAMAYLA DEUTCH 4.30 X 14349 118782 18773 TALLY BLUMBERG 6.70 X 21850 110346 23755 JOSEPH G HOLLAND 3.70 X 8934 87222 3379 SUSAN BARBARISI 1.70 X 3291 75608 9543 LESLIE KANE SZYNAL 40.00 X 142519 0 27566 384462 1235180 229620 1 0 1 0 0 111620 10746366 2242146 283332 13100132 MANAGEMENT FEES INCOME 900099 50377 50377 SERVICE INCOME 900099 10200 7500 2700 ADMISSION FEES INCOME 900099 4140 4140 64717 386012 386012 103065 103065 103065 103065 17308 17720 -412 -412 -412 24600 111620 49276 -24676 -24676 IN-KIND INT INCOME 900099 198627 198627 LOAN LOSS RECOVERY 900099 50000 50000 MISCELLANEOUS 900099 35200 35200 4462 4462 288289 13917127 62017 2700 752278 711417 711417 253201 248036 1747 3418 686246 672133 4817 9296 33816 33126 233 457 141968 135052 3356 3560 70040 68611 483 946 12426 12426 16012 15833 179 17260 17260 523880 518900 4980 171087 158865 12222 125520 78450 47070 96243 10053 86190 128006 97100 26753 4153 63464 47596 12511 3357 59881 26474 33407 497460 497460 208914 16129 192785 30285 7881 22404 IN-KIND INT EXPENSE 269286 269286 MISCELLANEOUS 100551 85671 14880 REAL ESTATE TAX 24558 24558 PROPERTY MAINTENANCE 15545 15545 4257066 3738176 478823 40067 100 424 12850459 6720179 165200 50413 217061 106606 15354912 2230427 254945 300821 3647802 1612116 2175975 2035686 1060 31019712 11444556 1294698 1166920 415000 20268498 5559161 2168999 1095206 23732195 8236287 X 3901849 -611724 3385668 3819993 7287517 3208269 31019712 11444556 X 9660061 -13739309 X X 0 1 1 X 0 X 2643464 4423593 2456903 3908524 13100132 26532616 2643464 4423593 2456903 3908524 13100132 26532616 474789 26057827 263481 645181 1216178 865243 489077 3479160 8136 802020 614793 364925 288289 2078163 32089939 269306 0.81200 0.70990 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS GAIN ON TRANSFER OF NATURAL LAND IN-KIND INTEREST INCOME DISCOUNT INCOME ON LOANS PAYABLE LOAN LOSS RESERVE OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 176118 176819 402843 404001 578961 580820 3678105 14278150 4257066 14858970 362853 892949 90713 223237 0 0 0 0 363942 372467 968210 892949 2597568 3896352 636 104115 105796 580820 791367 90986 93117 242053 223237 649393 974090 70382 176819 247201 PART IV, SUPPLEMENTAL INFORMATION: PART II-A, AFFILIATED GROUP RETURN STATEMENT: PURSUANT TO REGULATIONS SECTION 56.4911-8(B), AND IRC SECTION 4911(F), AN AFFILIATED GROUP OF ORGANIZATIONS IS TREATED AS A SINGLE ORGANIZATION FOR THE PURPOSES OF THE TAX IMPOSED BY IRC SECTION 4911(A). THEREFORE, SINCE THE AFFILIATED GROUP DID NOT HAVE EXCESS LOBBYING EXPENDITURES OR EXCESS GRASSROOTS LOBBYING EXPENDITURES, THE FILING ORGANIZATION IS DEEMED TO NOT HAVE EXCESS LOBBYING EXPENDITURES OR EXCESS GRASS ROOTS LOBBYING EXPENDITURES FOR THE PURPOSES OF THE DISCLOSURE ON PART II-A, LINE 1(H) AND 1(I), COLUMN A AND IT IS REFLECTED AS SUCH UNDER REGULATIONS SINCE THE GROUP DOES NOT HAVE EXCESS LOBBYING OR EXCESS GRASS ROOTS EXPENDITURES. AFFILIATED GROUP MEMBER: OPEN SPACE CONSERVANCY, INC. (EIN 13-3028060) 1350 BROADWAY, SUITE 201 NEW YORK, NY 10018 1 3450 250 1 1 X X X X 33 9459.00 1 1 636.00 23249 596755 596755 579073 254957 324116 2203701 1167499 1036202 85785 60396 25389 182488 129264 53224 2035686 OPEN SPACE CONSERVANCY, INC. - A 501(C)(3) ORGANIZATION 1095206 1095206 13917127 4257066 9660061 -28763 -13710546 -13739309 -4079248 227094 -28763 -13661270 -13690033 13917127 0 13917127 4306342 49276 49276 4257066 0 4257066 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: PURCHASED EASEMENTS THAT HAVE A RESALE VALUE ARE RECORDED AT COST. DONATED EASEMENTS THAT HAVE A RESALE VALUE ARE RECORDED AT FAIR MARKET VALUE. CONSERVATION EASEMENTS DETERMINED BY OSI TO HAVE NO RESALE VALUE ARE WRITTEN DOWN TO A $1 CARRYING VALUE. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 49,276. INTERFUND TRANSFERS -13,710,546. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 49,276. PART XI, LINE 8 - OTHER ADJUSTMENTS: INTERFUND TRANSFER TO OPEN SPACE CONSERVANCY 13,580,676. INTERFUND TRANSFER TO BEAVERKILL VALLEY LAND TRUST 129,870. INTERFUND TRANSFER FROM OPEN SPACE INSTITUTE 13,710,546. THE INTERFUND TRANSFERS WERE INITIATED TO SETTLE INTERFUND BALANCES. OPEN SPACE INSTITUTE, INC. (OSI) FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, OSI MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE TAX POSITIONS FOR OSI AND EACH OF THE CONSOLIDATED ENTITIES AND CONCLUDED THAT OSI HAD TAKEN NO UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, OSI IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2007, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. ANNUAL LUNCHEON 136220 111620 24600 31268 18008 136220 111620 24600 31268 18008 49276 -24676 1 APPALACHIAN MOUNTAIN CLUB 5 JOY STREET BOSTON MA 02108 046001677 501(C)(3) 20000 SUPPORT OUTDOORS AMERICA CAMPAIGN CATSKILL MOUNTAINKEEPER (OPEN SPACE INSTITUTE FISCAL SPONSOR) 1350 BROADWAY SUITE 201 NEW YORK NY 10018 521053406 501(C)(3) 5095 BOOK JEEP GENERAL OPERATING SUPPORT CENTER FOR AMERICAN PROGRESS ACTION FUND 1333 H STREET NW 10TH FLOOR WASHINGTON DC 20005 300192708 501(C)(4) 100000 SUPPORT OUTDOORS AMERICA CAMPAIGN CONSERVAMERICA 971 S CENTERVILLE ROAD PMB 139 STURGIS MI 49091 311683604 501(C)(3) 10000 SUPPORT OUTDOORS AMERICA CAMPAIGN FRIENDS OF HUDSON RIVER GREENWAY (OPEN SPACE INSTITUTE FISCAL SPONSOR) 1350 BROADWAY SUITE 201 NEW YORK NY 10018 521053406 501(C)(3) 5000 GENERAL OPERATING SUPPORT FRIENDS OF THE STATE HISTORIC SITES OF THE HUDSON HIGHLANDS PO BOX 904 NEWBURGH NY 12551 223325284 501(C)(3) 5750 MCHENRY AWARD TO DIGITIZE WASHINGTON'S HEADQUARTERS SLIDE COLLECTION GROWNYC 51 CHAMBERS STREET NEW YORK NY 10007 132765465 501(C)(3) 5000 GENERAL OPERATING SUPPORT HISTORIC HUDSON VALLEY 150 WHITE PLAINS ROAD TARRYTOWN NY 10591 131692606 501(C)(3) 5750 MCHENRY AWARD TO PRODUCE EDUCATIONAL MATERIALS FOR MONTGOMERY PLACE HUDSON RIVER WATERSHED ALLIANCE (OPEN SPACE INSTITUTE FISCAL SPONSOR) 1350 BROADWAY SUITE 201 NEW YORK NY 10018 521053406 501(C)(3) 5750 MCHENRY AWARD TO RESEARCH NATIONAL PARK DESIGNATION LAND TRUST ALLIANCE 1660 L STREET NW SUITE 1100 WASHINGTON DC 20036 042751357 501(C)(3) 15000 GENERAL OPERATING SUPPORT MOHONK PRESERVE PO BOX 715 NEW PALTZ NY 12561 141609484 501(C)(3) 5750 MCHENRY AWARD FOR TOURISM MARKETING PLAN NATURAL RESOURCES DEFENSE COUNCIL 40 W 20TH STREET NEW YORK NY 10011 132654926 501(C)(3) 5000 GENERAL OPERATING SUPPORT NRDC ACTION FUND 40 W 20TH STREET NEW YORK NY 10011 133976062 501(C)(4) 300000 SUPPORT OUTDOORS AMERICA CAMPAIGN THE WILDERNESS SOCIETY 1615 M STREET NW 2ND FLOOR WASHINGTON DC 20036 530167933 501(C)(3) 45000 SUPPORT OUTDOORS AMERICA CAMPAIGN TRUST FOR PUBLIC LAND 116 NEW MONTGOMERY STREET SAN FRANCISCO CA 94105 237222333 501(C)(3) 160460 SUPPORT OF OUTDOORS AMERICA CAMPAIGN 12 2 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: WITH THE EXCEPTION OF DONOR-ADVISED FUNDS AND CONTRIBUTIONS TO FUNDRAISING EVENTS, ALL GRANTEES EXECUTE A WRITTEN AGREEMENT WHICH REQUIRES THEM TO SUBMIT ANNUAL WRITTEN REPORTS TO OSI FOR THE PERIOD OF THE AGREEMENT. THE REPORTS MUST CONTAIN A REVIEW OF KEY PROJECT ACTIVITIES RELATED TO THE GRANT, ACCOMPLISHMENTS, OBSTACLES, AND LESSONS LEARNED DURING THE REPORTING PERIOD, AND A SUMMARY ACCOUNTING OF FINANCIAL ACTIVITIES. X X X X X 0 1 0 0 0 0 0 0 0 CHRISTOPHER J ELLIMAN 49642 242250 0 0 0 0 5808 28340 3813 18606 59263 289196 0 0 JOSEPH J MARTENS LEFT ON 11911 9838 235382 0 0 0 0 393 9407 899 21520 11130 266309 0 0 PETER HOWELL 81185 109107 0 0 0 0 3310 4448 6273 8431 90768 121986 0 0 ROBERT K ANDERBERG 7558 162845 0 0 0 0 304 6544 702 15138 8564 184527 0 0 ANTONIA BOWRING 45296 93638 0 0 0 0 1848 3820 7309 15110 54453 112568 0 0 SAMAYLA DEUTCH 14349 118782 0 0 0 0 580 4798 1678 13886 16607 137466 0 0 TALLY BLUMBERG 21850 110346 0 0 0 0 757 3823 3705 18713 26312 132882 0 0 LESLIE KANE SZYNAL 142519 0 0 0 0 0 5800 0 24777 0 173096 0 0 0 PART I, LINE 4B CHRISTOPHER J. ELLIMAN PARTICIPATES IN A NONQUALIFIED 457 PLAN. TOTAL AMOUNT INVOLVED FROM OPEN SPACE INSTITUTE, INC AND OTHER RELATED ORGANIZATIONS IS 22,000. JOHN ADAMS CHAIRMAN OF OSI CHAIRMAN OF THE BOARD 5095 NON-CASH, JEEP TO CATSKILL MOUNTAINKEEPER, RAMSAY ADAMS, EXECUTIVE DIRECTOR RAMSAY ADAMS SON OF CHAIRMAN 55060 WAGES PD 0 RAMSAY ADAMS SON OF CHAIRMAN 14316 BENEFITS PD 0 SCHEDULE L, PART IV BUSINESS TRANSACTION WITH INTERESTED PERSONS RAMSAY ADAMS, THE SON OF THE CHAIRMAN OF OSI, IS EMPLOYED BY CATSKILL MOUNTAIN KEEPER (CMK). CMK WAS A SPONSORED ORGANIZATION IN OSI'S CITIZEN ACTION PROGRAM. CMK RECEIVED AN IRS DETERMINATION LETTER IN 2010 STATING THAT IT HAS OBTAINED 501(C)(3) STATUS AND EFFECTIVE 1/1/11 IS INDEPENDENT OF OSI AND IT WILL FILE ITS OWN FORM 990 IN 2011. OSI HAS MADE A $5,095 NONCASH CONTRIBUTION (IN THE FORM OF A JEEP) TO CMK FOR SUPPORT. THE JEEP WAS ORIGINALLY PURCHASED FOR THE USE OF CMK EMPLOYEES WITH FUNDS RAISED BY CMK WHILE IT WAS PARTICIPATING IN OSI'S CITIZEN ACTION PROGRAM. IN ADDITION THE MALCOLM GORDON CHARITABLE TRUST HAS MADE A CONTRIBUTION TO CMK IN THE AMOUNT OF $10,000. X 3 15740 FMV X 3 267592 APPRAISALS 0 0 0 ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 THE MISSION OF OPEN SPACE INSTITUTE, INC. (OSI) IS TO PROTECT SCENIC, NATURAL, AND HISTORIC LANDSCAPES THAT ENSURE PUBLIC ENJOYMENT, CONSERVE HABITATS, AND SUSTAIN COMMUNITY CHARACTER. OPEN SPACE CONSERVANCY, INC. (OSC) IS A SUPPORTING ORGANIZATION OF THE OPEN SPACE INSTITUTE, INC. (OSI). OSI AND OSC ACHIEVE THEIR MISSIONS THROUGH FOUR PRINCIPAL PROGRAMS: 1. THE ACQUISITION PROGRAM INVOLVES THE DIRECT ACQUISITION OF LAND AND CONSERVATION EASEMENTS IN NEW YORK STATE AS WELL AS PROVIDING GRANTS AND LOANS, PRIMARILY TO OTHER LAND TRUSTS, TO PROTECT DIVERSE LANDSCAPES THAT INCLUDE PARKS, PRESERVES, WORKING FARMS AND FORESTS IN THE EASTERN UNITED STATES. IN GENERAL, ALL ACQUISITIONS OF LAND AND CONSERVATION EASEMENTS, AND ALL GRANT AND LOAN TRANSACTIONS, ARE HANDLED BY OSC. THE TOTAL OPERATING EXPENSES OF OSI AND OSC FOR THE ACQUISITION PROGRAM IN 2010 WERE $7,077,505. 2. THE STEWARDSHIP PROGRAM MANAGES ALL OF THE REAL PROPERTY OWNED BY OSI AND OSC. OSI AND OSC ALSO HAVE AN ACTIVE PROGRAM OF CONVEYING LANDS TO GOVERNMENTAL AGENCIES, AND LANDS TRUST WHICH ARE CAPABLE OF HOLDING AND MANAGING SUCH LANDS FOR THE BENEFIT OF THE GENERAL PUBLIC. THUS, OVER PAST YEARS OSI AND OSC HAVE SIGNIFICANTLY EXPANDED THE ADIRONDACK AND CATSKILL FOREST PRESERVES AND HAVE CREATED OR ENLARGED DOZENS OF STATE PARKS IN NEW YORK STATE. OSI AND OSC ALSO CONVEY PROPERTY TO PRIVATE CONSERVATION BUYERS SUBJECT TO STRINGENT CONSERVATION EASEMENTS DESIGNED TO PROTECT THE SCENIC BEAUTY AND ECOLOGICAL INTEGRITY OF THE PROPERTY. OSI ALSO MONITORS AND ENFORCES THE CONSERVATION EASEMENTS AND IT HOLDS, AND MANAGES AND SERVICES THE PORTFOLIO OF LOANS AND GRANTS THAT IT HAS MADE. THE TOTAL OPERATING EXPENSES FOR THE STEWARDSHIP PROGRAM IN 2010 BY OSI AND RELATED ENTITIES WERE $2,740,409. 3. THE PUBLIC POLICY PROGRAM INCLUDES CONSERVATION RESEARCH, THE OUTDOORS AMERICA CAMPAIGN (OAC), AND THE ALLIANCE FOR NEW YORK STATE PARKS (ALLIANCE). CONSERVATION RESEARCH CONDUCTS AND DISSEMINATES RESEARCH ON EFFICIENT WAYS TO BALANCE THOUGHTFUL REGULATION AND PERMANENT PROTECTION OF OPEN SPACES. OAC WORKS TO ACHIEVE FULL FUNDING FOR THE FEDERAL LAND AND WATER CONSERVATION FUND. THE ALLIANCE WORKS FOR INCREASED GOVERNMENT FUNDING FOR THE NEW YORK STATE PARKS SYSTEM AND ALSO RAISES PRIVATE MONEY TO FUND NEEDED CAPITAL IMPROVEMENTS. THE TOTAL OPERATING EXPENSES OF OSI/OSC FOR THE PUBLIC POLICY PROGRAM IN 2010 WERE $1,949,216. 4. THE ENVIRONMENTAL PARTICIPATION & EDUCATION PROGRAM INCLUDES CITIZEN ACTION, THE MALCOLM GORDON CHARITABLE TRUST (MGCT), AND THE BARNABAS MCHENRY ENDOWMENT FUND. CITIZEN ACTION IS A FISCAL SPONSORSHIP PROGRAM FOR EMERGING LOCAL ORGANIZATIONS WITH MISSIONS THAT COMPLEMENT THAT OF OSI/OSC. MGCT PROVIDES ENVIRONMENTAL EDUCATION GRANTS. THE MCHENRY ENDOWMENT FUNDS THE BARNABAS MCHENRY HUDSON RIVER VALLEY AWARDS WHICH PAIR YOUNG ENVIRONMENTAL LEADERS WITH PROJECTS IN THE HUDSON RIVER VALLEY. THE TOTAL OPERATING EXPENSES OF OSI FOR THE ENVIRONMENTAL PARTICIPATION & EDUCATION PROGRAM IN 2010 WERE $868,940. OSI/OSC'S FOUR PRINCIPAL PROGRAMS ARE DIRECTED BY A CONSISTENT OVERALL CONSERVATION STRATEGY THAT EMPHASIZES CONSERVATION ON A LANDSCAPE LEVEL. PUBLIC POLICY PROGRAM ACCOMPLISHMENTS FORM 990, PART III, LINE 4A A) CONSERVATION RESEARCH: AS THE AUTHOR AND SPONSOR OF ANALYSES, WHITE PAPERS AND RESEARCH REPORTS, THE CONSERVATION RESEARCH UNIT BRINGS TOGETHER THE EXPERTISE AND THE DECISION-MAKERS TO GUIDE PUBLIC POLICY. IN 2010, SUBSTANTIAL WORK MOVED FORWARD ON CATSKILLS RESEARCH, THE SOUTHERN APPALACHIANS MAPPING INITIATIVE, AND THE PRIVATE FOREST PLANNING COLLABORATIVE. THE GOAL OF THE CATSKILLS RESEARCH IS TO IDENTIFY HABITAT, WATER QUALITY, RECREATION AND AGRICULTURAL VALUES ACROSS A 2.7 MILLION-ACRE REGION THAT IS DISTINCTLY RURAL IN SPITE OF ITS CLOSE PROXIMITY TO NEW YORK CITY. TWO SEPARATE RESEARCH REPORTS ON THE REGION WERE NEAR COMPLETION BY THE END OF 2010: ONE FOCUSED ON FARMING AND FOOD DISTRIBUTION AND ANOTHER ON THE IDENTIFICATION OF LAND THAT WOULD BE APPROPRIATE FOR ECONOMIC DEVELOPMENT. ENCOURAGING APPROPRIATE DEVELOPMENT IN THE REGION ENSURES ECOLOGICAL VALUES ARE PRESERVED AND SECURES WILDLIFE HABITAT WHILE ENSURING THAT HUMANS ARE LIVING IN THRIVING ECONOMIC AND SOCIAL COMMUNITIES. OSI'S RESEARCH IS SHOWING THAT PRESERVING OPEN SPACES AND ENCOURAGING ECONOMIC DEVELOPMENT ARE NOT JUST WHOLLY COMPATIBLE, BUT ESSENTIAL. IN RESPONSE TO THE THREAT OF LARGE-SCALE CONVERSION OF FORESTLAND IN THE SOUTHEASTERN UNITED STATES TO NON-FOREST USE, OSI'S PRIVATE FOREST PLANNING COLLABORATIVE IS GATHERING DATA ON PRIVATE LAND OWNERSHIP, THE REGULATORY ENVIRONMENT, TIMBER MARKETS, REAL ESTATE, AND NATURAL RESOURCES. THE FINAL PRODUCT WILL INCLUDE A REPORT DETAILING THE NON-TIMBER FOREST VALUE, CONVERSION PRESSURES IN THE REGION, AND OPPORTUNITIES FOR LANDOWNERS TO ACCESS NEW REVENUE STREAMS. IN 2010, 11 LANDOWNERS WHO CONTROL 14 MILLION ACRES OF TIMBERLAND AGREED TO PARTICIPATE IN THE STUDY. B) OUTDOORS AMERICA CAMPAIGN: IN 2009, OSI CREATED THE OUTDOORS AMERICA CAMPAIGN, DEDICATED TO SEEKING FULL FUNDING FOR THE FEDERAL LAND AND WATER CONSERVATION FUND (LWCF), THE COUNTRY'S ONLY SOURCE OF DEDICATED CONSERVATION FUNDING. WHILE THE LWCF IS AUTHORIZED TO ANNUALLY RECEIVE $900 MILLION FROM OFFSHORE OIL AND GAS ROYALTIES, CONGRESS HAS OVER THE YEARS DIVERTED THESE MONIES FROM THEIR INTENDED PURPOSE, AND THE FUND HAS BEEN CONSISTENTLY UNDER-CAPITALIZED. WITH STAFF IN WASHINGTON, D.C. AND SUPPORT FROM OSI'S NEW YORK STAFF, AND WORKING WITH A ROSTER OF EXPERIENCED NON-PROFIT PARTNERS, OSI'S OAC HAS UNDERTAKEN AND DIRECTED EFFORTS TO EDUCATE DECISION-MAKERS ABOUT THE VALUE OF OUTDOOR SPACES. IN THE MEDIA, OAC EARNED HUNDREDS OF PRESS HITS IN 35 STATES, AND THE CAMPAIGN GREW TO REPRESENT OVER 800 DIVERSE MEMBER GROUPS. C) ALLIANCE FOR NEW YORK STATE PARKS: IN 2010, OSC LAUNCHED THE ALLIANCE FOR NEW YORK STATE PARKS, AN EFFORT TO ADVOCATE FOR PROPER GOVERNMENT FUNDING FOR THE PARKS SYSTEM AND TO ATTRACT PRIVATE CONTRIBUTIONS TO MAKE NEEDED CAPITAL IMPROVEMENTS. COMMITTED TO THE RESTORATION, MAINTENANCE AND SUPPORT OF NEW YORK'S 213 STATE PARKS AND HISTORIC SITES, THE ALLIANCE IMMEDIATELY WORKED TO MINIMIZE THE ANTICIPATED DAMAGE TO THE OFFICE OF STATE PARKS AND THE ENVIRONMENTAL PROTECTION FUND IN THE 2011-2012 STATE BUDGET. SINCE THEN IT HAS BEEN ADVANCING A "PENNIES FOR PARKS" PROPOSAL WHICH WOULD HELP TO RESTORE AND ENHANCE NEW YORK'S STATE PARKS WITH A ONE-PENNY TAX ON DISPOSABLE PLASTIC BAGS. ENVIRONMENTAL PARTICIPATION AND EDUCATION PROGRAM ACCOMPLISHMENTS FORM 990, PART III, LINE 4B OSI'S ENVIRONMENTAL PARTICIPATION AND EDUCATION EFFORT INCLUDES THE CITIZEN ACTION FISCAL SPONSORSHIP PROGRAM, THE MALCOLM GORDON CHARITABLE TRUST ENVIRONMENTAL EDUCATION GRANTS, AND THE MCHENRY ENDOWMENT HUDSON RIVER VALLEY AWARDS. IN 2010, CITIZEN ACTION CONTINUED TO GROW, REACHING A TOTAL OF 46 ACTIVE GROUPS INCLUDING 14 WHO JOINED DURING THE YEAR. THESE GROUPS RAISED OVER $700,000 FOR THEIR PROJECTS AND OSI COLLECTED SOME $55,000 IN MANAGEMENT FEES. ALSO IN 2010, MALCOLM GORDON CHARITABLE TRUST AWARDED $27,500 IN GRANTS TO CATSKILL MOUNTAINKEEPER, AUDUBON NEW YORK, THE LIVING HISTORY EDUCATION FOUNDATION, MUSEUM OF THE HUDSON HIGHLANDS, AND THE CONSTITUTION ISLAND ASSOCIATION. THE MCHENRY ENDOWMENT MADE $23,000 IN GRANTS TO PAIR YOUNG ENVIRONMENTAL LEADERS WITH FOUR LOCAL ENVIRONMENTAL AND PRESERVATION ORGANIZATIONS: MOHONK PRESERVE; HISTORIC HUDSON VALLEY; HUDSON RIVER WATERSHED ALLIANCE; AND FRIENDS OF THE STATE HISTORIC SITES OF HUDSON HIGHLANDS. ACQUISITION PROGRAM ACCOMPLISHMENTS FORM 990, PART III, LINE 4C A) LAND ACQUISITION IN NEW YORK STATE: OSI AND OSC'S LAND ACQUISITION PROGRAM PERMANENTLY PROTECTS OPEN SPACE AND NATURAL LANDS IN THREE PRINCIPAL REGIONS IN NEW YORK STATE - THE HUDSON RIVER VALLEY, CATSKILLS, AND ADIRONDACKS - AND IS OPERATED THROUGH OSI AND ITS SUPPORTING ORGANIZATION OSC. THE SUBSTANTIAL MAJORITY OF THE LAND ACQUISITION PROGRAM IS CONDUCTED BY OSC. OPEN SPACE CONSERVANCY'S LAND ACQUISITION PROGRAM PROTECTED 3,956 ACRES OF LAND IN 2010, AND SINCE ITS INCEPTION IT HAS PROTECTED MORE THAN 120,000 ACRES OF OPEN SPACE THROUGHOUT NEW YORK STATE. MUCH OF OSI'S AND OSC'S CONSERVATION WORK TAKES PLACE IN THE HUDSON RIVER VALLEY IN NEW YORK STATE. THE UPPER HUDSON RIVER VALLEY IS COMPRISED OF THE CAPITAL DISTRICT IN ALBANY AND COLUMBIA, RENSSELAER, SARATOGA, AND WASHINGTON COUNTIES OF NEW YORK. TO DATE, OSC HAS PERMANENTLY PROTECTED MORE THAN 6,400 ACRES IN THIS AREA THROUGH DIRECT LAND ACQUISITIONS AND CONSERVATION EASEMENTS. IN 2010, OSC ACQUIRED THE TWO HISTORIC FARMS (THE LEISER FARM AND BATTLEVIEW FARM) IN COLUMBIA AND WASHINGTON COUNTIES, RESPECTIVELY, PROTECTING HISTORIC VIEWS AND LANDS ALONG THE HUDSON RIVER AND THE KINDERHOOK CREEK. THE MIDDLE SECTION OF THE HUDSON RIVER VALLEY INCLUDES GREENE, DUTCHESS, AND ULSTER COUNTIES IN NEW YORK. IN TOTAL, OSC HAS PROTECTED MORE THAN 17,000 ACRES IN THE MID-HUDSON RIVER VALLEY THROUGH DIRECT LAND ACQUISITIONS AND CONSERVATION EASEMENTS. OSC'S HIGHLIGHTED LAND PROTECTION INITIATIVES HERE INCLUDE THE SHAWANGUNK RIDGE WHERE THE ORGANIZATION HAS SIGNIFICANTLY EXPANDED THE MINNEWASKA STATE PARK PRESERVE, THE MOHONK PRESERVE, AND CREATED THE SAM'S POINT PRESERVE. IN 2010, OSC MADE SEVEN ACQUISITIONS IN THE MID-HUDSON RIVER VALLEY PROTECTING A TOTAL OF 641 ACRES. THESE ACQUISITIONS PROTECTED CLIFF FACE, DEEP RAVINES AND IMPORTANT HABITAT, AS WELL AS PROVIDING ENHANCED RECREATIONAL OPPORTUNITIES FOR THE GENERAL PUBLIC. OSI ALSO ACQUIRED APPLEDOORN FARM, A HISTORIC 18TH-CENTURY FARM IN THE SHADOW OF THE SHAWANGUNK RIDGE. THE LOWER SECTION OF THE HUDSON RIVER VALLEY INCLUDES ORANGE, PUTNAM, ROCKLAND AND WESTCHESTER COUNTIES IN NEW YORK. OSC HAS PROTECTED OVER 16,000 ACRES IN THE LOWER HUDSON RIVER VALLEY THROUGH DIRECT LAND ACQUISITIONS AND CONSERVATION EASEMENTS. IN 2010, OSC ACQUIRED BOTH AN HISTORIC FARM IN THE CORNWALL AREA OF ORANGE COUNTY (THE HOUGHTON FARM) AND AN IMPORTANT INHOLDING TO THE TEATOWN LAKE RESERVATION RESULTING IN THE PROTECTION OF 210 ACRES OF LAND. FOR OVER 30 YEARS OSC HAS PRESERVE LAND IN THE CATSKILL MOUNTAIN REGION OF NEW YORK STATE, WHERE IT HAS CONSERVED MORE THAN 27,600 ACRES TO DATE. IN THE BEAVERKILL VALLEY ALONE, OSC HAS WORKED WITH PRIVATE LANDOWNERS AND THE STATE OF NEW YORK TO PROTECT MORE THAN 19,200 ACRES OF WORKING FARMS AND FORESTS. IN 2010, OSC PURCHASED PROPERTY IN DELAWARE COUNTY AND ACQUIRED A CONSERVATION EASEMENT ON SCENIC LANDS IN THE BEAVERKILL VALLEY. THE ADIRONDACK REGION POSSESSES AN UNPARALLELED MIX OF PUBLIC AND PRIVATE LAND, LARGE WILDERNESS EXPANSES, COUNTLESS RECREATIONAL OPPORTUNITIES, AND UNIQUE OPPORTUNITIES TO PROTECT LARGE, INTACT WORKING FORESTS. TO DATE, OSC HAS PROTECTED 23,821 ACRES IN THE REGION. IN 2010, OSC PURCHASED A 2,364-ACRE FORMER GIRL SCOUT CAMP IN WASHINGTON COUNTY AND RECEIVED A DONATED EASEMENT ON THE 511 ACRES OF LAND IN THE WESTERN ADIRONDACKS. B) ACQUISITION OUTSIDE NEW YORK STATE THROUGH RE-GRANTS: OUTSIDE NEW YORK STATE, OSI AND OSC PROVIDE BOTH SHORT-TERM, LOW-INTEREST BRIDGE LOANS AND GRANTS TO NON-PROFIT CONSERVATION ORGANIZATIONS WORKING TO PERMANENTLY PROTECT OPEN SPACE. DELAYS IN PUBLIC AND PRIVATE FUNDING CAN CREATE UNCERTAINTY AND PREVENT LAND CONSERVATION GROUPS FROM CLOSING DEALS. MORE RECENTLY, THE PRECARIOUS NATURE OF STATE AND FEDERAL SUPPORT FOR CONSERVATION HAS CREATED SHORTFALLS IN THE PERMANENT FINANCING THAT MANY LOCAL LAND TRUSTS DEPEND ON TO COMPLETE ACQUISITIONS. OSI AND OSC MAKE GRANTS TO THESE ORGANIZATIONS TO ENABLE THEM TO FUND THESE PROJECTS AND BRING THEM TO CLOSURE. IN 2010, OSC MADE 37 GRANTS FOR A TOTAL OF $2,424,260 THROUGH THE FOLLOWING PROGRAMS: NORTHERN FOREST PROTECT FUND ($500,000); MASSACHUSETTS ACCREDITATION ACCELERATION PROGRAM ($71,000); WESTERN MASSACHUSETTS LAND PROTECTION FUND ($60,000); TRANSBORDER FUND ($240,000); AND THE SAVING NEW ENGLAND'S WILDLIFE FUND ($1,553,260). 1. NORTHERN FOREST PROTECTION FUND (NFPF): SPANNING 26 MILLION ACRES IN NORTHERN NEW ENGLAND AND NEW YORK STATE, THE NORTHERN FOREST IS THE ECOLOGICAL, ECONOMIC, AND CULTURAL MAINSTAY OF THIS PREDOMINANTLY RURAL AND LARGELY LOW-INCOME REGION, PROVIDING WILDLIFE HABITAT, RAW MATERIALS, JOBS, AND RECREATION FOR MILLIONS OF RESIDENTS AND VISITORS. CONTINUING LAND SALES BY TIMBER COMPANIES THREATEN TO FRAGMENT THE REGION'S BASE OF WORKING FORESTLANDS. USING CRITERIA FORMULATED WITH THE HELP OF AN EXPERT ADVISORY COMMITTEE, OSC'S NFPF DIRECTS FUNDS TOWARDS PROJECTS THAT: PROTECT LARGE LANDSCAPES, INCLUDING ECOLOGICAL RESERVES AND WORKING FORESTLAND; FACILITATE PUBLIC RECREATION; AND INTEGRATE LOCAL COMMUNITY INTERESTS. THROUGH 2009, THE NFPF MADE 17 GRANTS AND 13 LOANS TOTALING $29 MILLION TO PROTECT 1.6 MILLION ACRES OF ECOLOGICAL PRESERVES AND WORKING FORESTLANDS. IN 2010, THE NFPF AWARDED A $500,000 GRANT TO THE NATURE CONSERVANCY FOR ITS MOOSEHEAD FOREST PROJECT, PROTECTING SOME 310,000 ACRES. FUNDING FOR THE NFPF CAME FROM THE DORIS DUKE CHARITABLE FOUNDATION AND THE SURDNA FOUNDATION. 2. SAVING NEW ENGLAND'S WILDLIFE FUND (SNEW): WITH FUNDING FROM THE DORIS DUKE CHARITABLE FUND, OSC INITIATED THE SAVING NEW ENGLAND'S WILDLIFE FUND IN 2009 FOR THE ACQUISITION OF FEE INTEREST OR CONSERVATION EASEMENT OF ECOLOGICALLY CRITICAL LAND IDENTIFIED IN STATE WILDLIFE ACTION PLANS IN MASSACHUSETTS, MAINE, AND NEW HAMPSHIRE THROUGH RE-GRANTS TO QUALIFIED GRANTEES. IN 2010, SNEW AWARDED 11 CAPITAL GRANTS TOTALING $1.6 MILLION FOR ACQUISITION OF LAND OR EASEMENTS PROTECTING A TOTAL OF 6,600 ACRES AS WELL AS THREE "AMPLIFICATION" GRANTS FOR PROJECTS THAT INCREASE FUNDING AND SUPPORT FOR WILDLIFE HABITAT PROTECTION. 3. WESTERN MASSACHUSETTS LAND PROTECTION FUND (WMLP): FUNDED BY THE KOHLBERG FOUNDATION, THE WMLP FUND HAS PROGRAMMATIC GOALS OVERLAPPING THOSE OF SAVING NEW ENGLAND'S WILDLIFE, AND CAN THEREFORE BE USED TO SUPPLEMENT THAT FUND'S WORK IN WESTERN MASSACHUSETTS. IN 2010, WMLP GRANTED $60,000 TO BERKSHIRE NATURAL RESOURCES COUNCIL FOR ITS MT. DARBY PROJECT. 4. MASSACHUSETTS ACCREDITATION ACCELERATION FUND (MAAC): RECOGNIZING THAT ORGANIZATIONAL STRENGTH IS ESSENTIAL FOR LAND TRUSTS TO ACHIEVE CONSERVATION RESULTS, OSC LAUNCHED MAAC TO HELP THE SMALLER TRUSTS IN MASSACHUSETTS BRING THEIR ORGANIZATIONS UP TO THE ACCREDITED STANDARD SET RECENTLY BY THE LAND TRUST ALLIANCE. MAAC MAKES SMALL GRANTS FOR OPERATING IMPROVEMENTS. IN 2010, MAAC AWARDED $71,000 TO 15 LOCAL LAND TRUSTS. FUNDING FOR MAAC CAME FROM THE LAND TRUST ALLIANCE, PEW CHARITABLE TRUST, THE KOHLBERG FOUNDATION, AND OSI'S UNRESTRICTED RESERVES. 5. TRANSBORDER PROTECTION FUND: IN 2009, OSC ESTABLISHED THE TRANSBORDER PROTECTION FUND TO BE USED FOR GRANTS OR LOANS TO SUPPORT THE CONSERVATION OF ECOLOGICALLY SIGNIFICANT FORESTED LANDSCAPES IN SOUTHERN QUEBEC, NOVA SCOTIA, NEW BRUNSWICK, NEW YORK, VERMONT, NEW HAMPSHIRE, AND MAINE. IN 2010, OSC AWARDED $240,000 IN GRANTS TO THE NATURE CONSERVANCY OF CANADA AND TO THE TRUST FOR PUBLIC LAND FOR CONSERVATION ACQUISITIONS IN THIS REGION. FUNDING FOR THE TRANSBORDER PROTECTION FUND CAME FROM THE PARTRIDGE FOUNDATION. OTHER PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4D THIS CATEGORY INCLUDES OSI'S CONSERVATION LENDING TO OTHER LAND TRUSTS AND ITS STEWARDSHIP OF FEE PROPERTY AND CONSERVATION EASEMENTS. IN 2010, OSI MADE LOANS THE HUNTERDON LAND TRUST ALLIANCE AND TO D&R GREENWAY, WHICH ALTOGETHER PROTECTED SOME 273 ACRES IN NEW JERSEY. OSI MANAGES FIVE PARCELS IT OWNS, AND IT HAS THE RESPONSIBILITY FOR ENFORCING CONSERVATION EASEMENTS ON 33 OTHERS. FORM 990, PART VI, SECTION A, LINE 2 JOHN ADAMS, CHAIRMAN AND RAMSAY ADAMS, EMPLOYEE HAVE FAMILY RELATIONSHIP. JOHN ADAMS, CHAIRMAN AND PATRICIA F. SULLIVAN, TRUSTEE ARE BOARD MEMBERS IN THE SAME 501(C)(4) ORGANIZATION, WHICH IS NOT A "RELATED ORGANIZATION". ROBERT ANDERBERG, VP GENERAL COUNSEL AND JOSEPH MARTENS, PRESIDENT ARE BOARD MEMBERS IN THE SAME 501(C)(3) ORGANIZATION, WHICH IS NOT A "RELATED ORGANIZATION". FORM 990, PART VI, SECTION B, LINE 11 OUR 990 IS PREPARED BY AN OUTSIDE INDEPENDENT ACCOUNTING FIRM. THE DRAFT FORM 990 IS REVIEWED BY THE CONTROLLER, CHIEF OPERATING OFFICER & GENERAL COUNSEL. AFTER THE STAFF REVIEW THE RETURN, IT IS THEN REVIEWED BY THE AUDIT COMMITTEE. THE REVIEWED AND CORRECTED 990 FORM IS THEN SENT OUT TO ALL THE BOARD MEMBERS OF THE ORGANIZATION FOR THEIR REVIEW AND COMMENTS. THE RETURN IS FILED ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEW AND REQUIRED EDITS HAVE BEEN MADE. FORM 990, PART VI, SECTION B, LINE 12C OPEN SPACE INSTITUTE, INC. HAS A CONFLICT OF INTEREST POLICY WHICH REQUIRES ALL INTERESTED PERSONS TO DISCLOSE CONFLICTS AND POTENTIAL CONFLICTS AS SOON AS THEY ARISE. ONCE A CONFLICT OR POTENTIAL CONFLICT HAS BEEN DISCLOSED, THE INTERESTED PERSON MAY NOT DISCUSS THE TRANSACTION THAT IS THE BASIS OF SUCH CONFLICT, AND MUST RECUSE HIMSELF OR HERSELF FROM ANY VOTE ON SUCH TRANSACTION. THE PRESIDENT EACH YEAR REPORTS TO THE BOARD OF TRUSTEES ALL CONFLICT TRANSACTIONS AND HOW THEY WERE HANDLED. THE BOARD OF OPEN SPACE INSTITUTE, INC. HAS THE POWER TO TAKE REMEDIAL ACTION IF THE CONFLICT POLICY IS VIOLATED. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPENSATION FOR TOP MANAGEMENT AND KEY EMPLOYEES INVOLVES OUR COMPENSATION COMMITTEE WORKING WITH AN INDEPENDENT COMPENSATION CONSULTANT. THE COMMITTEE PERFORMS AN ANNUAL ASSESSMENT OF THE RESPONSIBILITIES AND PERFORMANCE OF THE CEO AND PRESIDENT. (OTHER TOP MANAGEMENT AND KEY EMPLOYEES ARE REVIEWED AT LEAST ANNUALLY BY THE CEO AND/OR THE PRESIDENT) THE COMMITTEE ALSO UTILIZES COMPENSATION SURVEYS AND INFORMATION GLEANED FROM FORM 990S OF COMPARABLE ORGANIZATIONS TO DETERMINE APPLICABLE COMPENSATION RATES. ONCE REASONABLE AND COMPETITIVE COMPENSATION RATES ARE ESTABLISHED THEY ARE APPROVED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 OPEN SPACE INSTITUTE, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY, DOCUMENT RETENTION AND DESTRUCTION POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC. THESE DOCUMENTS ARE SENT TO ANYONE WHO CONTACTS OUR ORGANIZATION AND REQUESTS SUCH INFORMATION. FORM 990, PART VII, SECTION A AN ESTIMATED WEEKLY AVERAGE HOURS OF THE BOARD OF DIRECTORS AND OFFICERS FROM RELATED ORGANIZATIONS: JOHN H. ADAMS - 3.00 AVERAGE HOURS PER WEEK PETER A. BIENSTOCK - 3.00 AVERAGE HOURS PER WEEK CAROLINE NIEMCZYK - 3.00 AVERAGE HOURS PER WEEK PAUL J. ELSTON - 3.00 AVERAGE HOURS PER WEEK EDWARD A. AMES - 3.00 AVERAGE HOURS PER WEEK SUSAN BABCOCK - 3.00 AVERAGE HOURS PER WEEK ELIZABETH BORDEN - 3.00 AVERAGE HOURS PER WEEK GILMAN S. BURKE - 3.50 AVERAGE HOURS PER WEEK JOHN CAHILL - 3.00 AVERAGE HOURS PER WEEK HOLLY HEGENER - 3.00 AVERAGE HOURS PER WEEK T. JEFFERSON CUNNINGHAM III - 3.00 AVERAGE HOURS PER WEEK J. MATTHEW DAVIDSON - 3.00 AVERAGE HOURS PER WEEK JOHN ERNST - 3.00 AVERAGE HOURS PER WEEK SAMUEL G. HUBER - 3.00 AVERAGE HOURS PER WEEK FELIX KAUFMAN - 3.00 AVERAGE HOURS PER WEEK SAMUEL W. LAMBERT III - 3.00 AVERAGE HOURS PER WEEK W. BARNABAS MCHENRY - 3.00 AVERAGE HOURS PER WEEK KATHERINE O. ROBERTS - 3.50 AVERAGE HOURS PER WEEK HUME R. STEYER - 3.00 AVERAGE HOURS PER WEEK PATRICIA F. SULLIVAN - 3.00 AVERAGE HOURS PER WEEK CHRISTOPHER J. ELLIMAN - 33.20 AVERAGE HOURS PER WEEK JOSEPH J. MARTENS - 38.40 AVERAGE HOURS PER WEEK PETER HOWELL - 22.90 AVERAGE HOURS PER WEEK ROBERT K. ANDERBERG - 38.20 AVERAGE HOURS PER WEEK ANTONIA BOWRING - 27.00 AVERAGE HOURS PER WEEK JOSEPH G. HOLLAND - 36.30 AVERAGE HOURS PER WEEK SAMAYLA DEUTCH - 35.70 AVERAGE HOURS PER WEEK TALLY BLUMBERG - 33.30 AVERAGE HOURS PER WEEK SUSAN BARBARISI - 38.30 AVERAGE HOURS PER WEEK TEMPORARILY RESTRICTED NET ASSETS FORM 990, PART X, LINE 27 THE UNRESTRICTED NET ASSETS FOR THE COMBINED GROUP OF OSI/OSC/BVLT/MGCT INCREASED BY 6,368,792 FOR THE YEAR ENDED DECEMBER 31, 2011. TO SETTLE VARIOUS INTERFUND ACCOUNT BALANCES OSI TRANSFERRED 14,277,625 OF ITS UNRESTRICTED NET ASSETS, WITH 567,079 SETTLING AN OSI RESTRICTED INTERFUND ACCOUNT AND THE BALANCE OF 13,710,546 USED TO SETTLE 13,580,676 AND 129,870 OF THE UNRESTRICTED INTERFUND ACCOUNTS OF OSC AND BVLT, RESPECTIVELY. OSI'S LARGE INTERFUND TRANSFER RESULTED IN ITS UNRESTRICTED NET ASSETS ENDING WITH A NEGATIVE BALANCE OF 611,724 AS OF DECEMBER 31, 2010. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -28,763. INTERFUND TRANSFERS -13,710,546. TOTAL TO FORM 990, PART XI, LINE 5: -13,739,309. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE OF THE OPEN SPACE INSTITUTE, INC. IS RESPONSIBLE FOR THE OVERSIGHT OF OSI'S FINANCIAL STATEMENTS AND SELECTION OF OSI'S INDEPENDENT ACCOUNTANT. THE COMMITTEE MEETS QUARTERLY TO REVIEW COMPLEX TRANSACTIONS AND INTERIM FINANCIAL STATEMENTS TO OBTAIN A BETTER UNDERSTANDING OF THE CURRENT FINANCIAL CONDITION OF THE ORGANIZATION. ON AN ANNUAL BASIS OSI'S AUDIT COMMITTEE REVIEWS THE REPORT TO THE AUDIT COMMITTEE PREPARED BY OSI'S OUTSIDE AUDITORS AND THE CONSOLIDATED FINANCIAL STATEMENTS OF OUR ORGANIZATION. THE AUDIT COMMITTEE PERIODICALLY REVIEWS THE NEED TO REPLACE OSI'S INDEPENDENT ACCOUNTANT BASED ON CERTAIN CRITERIA. THE CRITERIA CONSIDERED INCLUDE DETERMINING IF THE INDEPENDENT ACCOUNTANT POSSESSES A HIGH LEVEL OF KNOWLEDGE OF ACCOUNTING STANDARDS AND PRINCIPLES, GENERALLY, AND NOT FOR PROFIT ACCOUNTING KNOWLEDGE, SPECIFICALLY, AND IF THEY CAN COMPLETE THE REQUIRED WORK IN A TIMELY MANNER AT A COMPETITIVE PRICE. CHANGES IN NET ASSETS - INTERFUND TRANSFERS FORM 990, PART XI, LINE 5 INTERFUND TRANSFER TO OPEN SPACE CONSERVANCY 13,580,676. INTERFUND TRANSFER TO BEAVERKILL VALLEY LAND TRUST 129,870. INTERFUND TRANSFER FROM OPEN SPACE INSTITUTE 13,710,546. THE INTERFUND TRANSFERS WERE INITIATED TO SETTLE INTERFUND BALANCES. OPEN SPACE CONSERVANCY INC 1350 BROADWAY NEW YORK NY 10018 133028060 LAND CONSERVATION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 1 BEAVERKILL VALLEY LAND TRUST INC 1350 BROADWAY NEW YORK NY 10018 133545322 LAND CONSERVATION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 1 MALCOLM GORDON CHARITABLE TRUST INC 1350 BROADWAY NEW YORK NY 10018 133756345 ENVIRONMENTAL EDUCATION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 OPEN SPACE CONSERVANCY M 666994 CASH OPEN SPACE CONSERVANCY N 2777907 CASH OPEN SPACE CONSERVANCY P 10166986 CASH JOHNSON HILL ASSOCIATES INC P 97209 CASH