2011-01-21T12:33:19-06:00 2010-06-30 ROBERT E MOSES CPAS 44 SCHOOL STREET LEBANON NH 03766 990 2009-07-01 030264836 VERMONT LAND TRUST INC VERM 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 GILBERT LIVINGSTON 8022235234 2011-01-17 1 ROBERT E MOSES CPA 6034482650 2011-01-17 X 2009 2016-02-24 21:20:13Z GILBERT LIVINGSTON 8 BAILEY AVENUE MONTPELIER VT 05602 14746118 0 X VLT.ORG X 1977 VT TO CONSERVE LAND FOR THE FUTURE OF VERMONT. 12 12 44 0 824 0 11698175 10588808 690964 640760 252481 -120510 91462 49827 12733082 11158885 56500 5700 0 2917141 2742397 0 420863 10473449 8847180 13447090 11595277 -714008 -436392 27372388 28829484 2173373 2139576 25199015 26689908 The Vermont Land Trust works with individuals, organizations, and communities to conserve land for the future of Vermont. Since 1977, VLT has permanently conserved more than 495,000 acres. This land includes more than 685 working farms, hundreds of thousands of acres of productive forestland, and numerous parcels of community lands. This conservation work changes the lives of families, invigorates farms, launches new businesses, maintains scenic vistas, encourages recreational opportunities, and fosters a renewed sense of community. 0 0 9581576 5700 10416970 Conservation WorkTo protect farms and forests from the pressures of development, the Vermont Land Trust uses conservation easements - a legal tool that limits development on productive farmland and forestland, and other meaningful natural and community places. While some landowners choose to donate their development rights, many others sell them for full or partial value. Landowners continue to own, manage, and pay taxes on the land and can sell their land; however, the conservation easement permanently remains on the property. 572461 472982 Stewardship WorkWhen the Vermont Land Trust conserves land, it promises to look after it forever. The more successful we are at conserving land, the greater our stewardship responsibility. Partnership is at the core of our stewardship program. In an average year, our stewardship staff will visit 100% of conserved parcels and meet with nearly 90 percent of the 1,300-plus owners of land conserved with VLT. During these visits with landowners, staff will often walk the land and discuss issues such as whether any significant land-use changes are planned. By building these relationships, we believe we reduce the number of violations of conservation easement terms. 196768 134910 Atlas Timberlands ProjectThe Atlas Timberlands Project is a joint undertaking of the Vermont Land Trust and the Nature Conservancy. Together, the two organizations own and manage approximately 23,000 acres of timberland in the northern Green Mountains. The management of this land provides direct experience with the challenges of owning and managing timberland for economic and biodiversity values. This experience has a direct impact on our ability to understand and address concerns of owners of conserved timberland. All of the land is open to the public for hiking, hunting, and other non-motorized recreation. 182487 204706 THE BREWSTER UPLANDS CONSERVATION TRUST IS A PROJECT TO MANAGE 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES. 182487 204706 10533292 1 1 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 96 0 1 44 1 0 1 CJ 0 0 0 0 0 0 0 0 0 0 0 0 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VT X X X RICK PROVOST 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 VIRGINIA BARLOW X 0 0 0 PETER HAYDEN X 0 0 0 MOLLY LEBOWITZ X 0 0 0 SARAH MUYSKENS X 0 0 0 SALLY DODGE MOLE X 0 0 0 ELIOT ORTON X 0 0 0 CHARLIE SINCERBEAUX X 0 0 0 DEB BRIGHTON X 0 0 0 WALTER POLEMAN X 0 0 0 JOHN ROBERTS X 0 0 0 HEATHER DARBY X 0 0 0 PETE LAND X 0 0 0 GILBERT LIVINGSTON 40.00 X X 105368 0 16450 ELISE ANNES 40.00 X 82136 0 5220 JOHN ROE 40.00 X X 102177 0 540 DENNIS SHAFFER 40.00 X 85850 0 13800 DARBY BRADLEY 40.00 X 115704 0 14490 491235 0 50500 3 1 0 0 0 884834 4764590 4939384 115161 10588808 PROJECT INCOME 515100 640760 640760 640760 285337 285337 49003 49003 49003 49003 1186083 1995303 1787920 1799313 -601837 195990 -405847 -405847 824 824 824 11158885 234913 824 334340 5700 5700 420195 212557 84039 123599 1509867 1178283 181929 149655 74514 58150 8978 7386 568542 443684 68505 56353 169279 132103 20397 16779 81088 81088 22210 7653 14197 360 126239 71736 38189 16314 39898 22672 12070 5156 106410 80201 26209 86194 76803 2482 6909 29872 16975 9037 3860 71485 43969 27516 PURCHASE OF DEVELOPMENT 6053502 6053502 0 0 CONVEYANCE OF PROPERTY 1470000 1470000 0 0 PROJECT FEASIBILITY AND 151914 151914 0 0 CHARITABLE GIFT ANNUITY 148458 148458 0 0 OTHER OPERATING EXPENSE 125132 71107 37854 16171 334778 206737 109720 18321 11595277 10533292 641122 420863 952221 925052 1606648 3646640 354466 262241 1094450 318304 54467 54467 4887818 927347 4526368 3960471 5828078 5662580 4801413 5437288 8154277 8562441 27372388 28829484 201806 286626 479000 619997 1492567 1232953 2173373 2139576 X 5308883 7415621 12478827 11593197 7411305 7681090 25199015 26689908 27372388 28829484 X 0 1 1 X 0 X 9473692 14242708 14291211 12389139 11229568 61626318 9473692 14242708 14291211 12389139 11229568 61626318 7921283 53705035 495849 771426 788176 608115 334340 2997906 5130 2565 3254 824 11773 64635997 825136 0.83090 0.77890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48875 48875 11546402 11595277 729764 182441 0 0 800056 906849 822355 729764 3259024 4888536 12000 24000 50657 48875 135532 200014 226712 205589 182441 814756 1222134 5927 5927 X X X 1609 401143.00 4 0 28 1 1 5412.00 154990 1 15700077 1460724 1564094 2943074 106606 15675215 19900037 2736666 -3025225 3813115 98286 15700077 0.31000 0.41000 0.25000 1 0 2309788 833776 3143564 1190089 494592 695497 342772 324973 17799 30672 180721 107782 103611 3960471 TIMBERLAND INVESTMENTS, NET OF ACCUMULATED DEPLETION 2298653 C INVESTMENTS - CERTIFICATE OF DEPOSIT 317500 F INVESTMENTS - ALTERNATIVE INVESTMENTS 1836135 F TRANSFERABLE DEVELOPMENT RIGHTS 985000 C 5437288 CHARITABLE REMAINDER TRUSTS 1354472 DEPOSITS 18150 MISCELLANEOUS RECEIVABLES 56382 BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION 7133437 8562441 DEFERRED CHARITABLE ANNUITIES 1207953 DEFERRED OPTION PAYMENTS 25000 1232953 11158885 11595277 -436392 1927285 1927285 1490893 14885508 1927285 1799338 3726623 11158885 0 11158885 13394615 1799338 1799338 11595277 0 11595277 Part II, Line 3: Explanation of Changes to Conservation Easements: Saint Albans - Bourbeau, C&J2A (Machia) ON 30-Jun-10 Reconfigure Project VLT and coholders quitclaimed rights on an 85 acre portion of the Bourbeau C&J2 Farm owned by Mark and Amanda St. Pierre. The parcel was then protected by the Montagne Home Farm I and Home Farm II new easements. Saint Albans - Montagne Home Farm II (St. Pierre). On 30-Jun-10 Upgrade Easement. VLT and coholders quitclaimed rights on the Montagne Home Farm and two new easements were created. Montagne Home Farm II contains a portion of the acres formerly protected by the Montagne Home Farm, Montagne Luneau parcel and Bourbeau C&J2 parcel. In addition to the existing farm labor house, the easement grants the right to convey the property in two distinct farm units. Saint Albans - Montagne/Luneau (St. Pierre). On 30-Jun-10 Upgrade Easement. VLT quitclaimed rights on the Montagne Luneau and Montagne Home Farms and new easements were created that reconfigure the land. The new Luneau easement contains a barn complex. Saint Albans - Montagne Home Farm I (Reynolds). On 30-Jun-10 Upgrade Easement. VLT and coholders quitclaimed rights on the Montagne Home Farm and two new easements were created. Montagne Home Farm I contains a portion of the acres formerly protected by the Montagne Home Farm easement, the Bourbeau C&J II easement and the Montagne Luneau Amendment easement. There is an existing dwelling in the farmstead complex, an existing farm labor house, and a barn complex. There is a ROW to access land that is part of the Montagne Home Farm II easement. Arlington - Greene. On 28-Jun-10 Add River Corridor Easement. Added 20.28 acres to the conservation easement and added a river corridor management area on the Green River. New Haven - Kittredge (Apiary Farms, LLC). On 14-Jun-10 Upgrade Easement. Added the right for one farm labor house; relocated the existing Farmstead Complex; reduced the size of the Farmstead Complex from 3 acres to 1 acre; capped the size of the residence permitted in the Farmstead Complex at 1800 square feet; eliminated the farmstand complex; extinguished the existing seasonal camp right; permitted a driveway to the new Farmstead Complex. Georgia - Pigeon 1 (Hibbard). On 01-Jun-10 Upgrade Easement. A 2010 Subdivision Approval allowed the property to be subdivided into 2 units. A QCD extinguished the original farm Grant and a new Grant of Development Rights, Conservation Restrictions and Right of First Refusal was placed on the 40 acre western unit, including a fuure Farm Labor Housing Right. Georgia - Pigeon 2 (JB3, LLC). On 01-Jun-10 Upgrade Easement. A 2010 Subdivision Approval allowed the property to be subdivided into 2 units. A QCD extinguished the original farm Grant and a new Grant of Development Rights, Conservation Restrictions and Option to Purchase was placed on the 226 acre eastern unit . The existing farmstead complex remains and the right of first refusal was replaced with an option to purchase at agricultural value. Pawlet - Brill (Lastrina). On 01-Jun-10 Extinguish rights. By a Warranty Deed, the landowners gave up the rights to two of three allowed house rights and the right to subdivide was changed from a right to create four parcels to a right to subdivide into two parcels. Morristown - Lepine G & J (Pinkham). On 27-May-10 Revise Farmstead Complex. Corrected the description of the Homestead Complex described in Schedule C of the "Release of Development Right Restrictions" given by the Vermont Land Trust, Inc. (VLT) to the owners, dated August 26, 1999; released and extinguished all rights and interests of VLT, its successors and assigns, in and to the Homestead Complex. Montpelier - Connor. On 29-Mar-10 Revise Exclusion. Reconfigured the boundaries of excluded Lot 5 and excluded parcel of 10.7 acres and stated more explicitly the restrictive covenants on the 10 acre exclusion. Lot 5 increases from 1.62 to 2.31 acres and the 10.7 acre exclusion is reduced to 10 acres. Fairfield - Boomhower. On 25-Feb-10 Add River Corridor Easement. Added a 3.6 acre river corridor easement on Wanzer Brook. Cambridge - Brewster Uplands Conservation Trust. On 07-Jan-10 Release rights for new easement. Brewster Uplands Conservation Trust (BUCT) conveyed 414 acres to Alden and Phoebe Bryan to be protected by a new easement and received 611 acres from Phoebe and Alden Bryan for the Bryan/BUCT Forest Easement. Cambridge - Bryan I/BUCT Forest. On 07-Jan-10 New easement on previously protected land. Brewster Uplands Conservation Trust placed a new easement on 611 acres which had been previously protected by the Bryan Grant dated 04/27/05 and released by Quitclaim Deed. Cambridge - Bryan new easement. On 05-Jan-10 Release land and protect with new easement. New easement on 414 acres previously part of the Brewster Uplands Conservation Trust lands and 441 acres previously protected by the Bryan Grant dated 4/27/05 and released by Quitclaim Deed. New Haven - Schaefer. On 05-Jan-10 Exchange Land. Released 2.13 acres of protected property in New Haven in exchange for 2.13 acres in Waltham. Tinmouth - Lloyd/McIntosh/Payne Land Condo DEF. On 04-Jan-10 Revise Exclusion. Reconfigured excluded House Lot #1 of 10.11 acres. Total number of protected acres is unchanged. Londonderry - Taylor/Kohler. On 30-Dec-09 Add acres. Added 3 acres to farmland parcel. Hartland - Morley (Sincerbeaux). On 18-Dec-09 Upgrade Easement. Added 128.6 acres, upgraded the Grant of Development Rights and Conservation Restrictions, added a Vernal Pool Special Treatment Area, extinguished the right for a future house and released the house on 5.5 acres. Georgia - Vallee A. On 10-Dec-09 Add acres. Added 37.59 acres. Bridport - Huestis (Pyle). On 02-Dec-09 OPAV. Allowed for subdivision and release from the Grant of a portion of the Farmstead Complex consisting of the farmhouse and surrounding 2.2 acres; and updated the descriptions of the Farm Labor House rights; and to replace the Right of First Refusal with an Option to Purchase at Agricultural Value. Charlotte - Hinsdale Berry Farm2 Amblo/Callery. On 30-Oct-09 OPAV. Added 17 acres; delinked from Hinsdale Berry Farm 1; conveyed right to convey Hinsdale Berry Farm 2 in two units of 55.2 and 48.6 acres; replaced right of first refusal with option to purchase at agricultural value on both Berry Farm 2 parcels. Pittsford - Kingsley (Kingsley K&C). On 15-Oct-09 Exercise of Retained Right. Conveyed one acre to Vermont Agency of Natural Resources, Dept of Fish & Wildlife for public fishing access per allowed clause and encumbered the one acre with restrictive covenants. Saint Albans - Gamache. On 10-Oct-09 Correction. Corrected Schedule A description of Agricultural Easement Area. Shelburne - Kopje Co./Hubbard (Guillmette). On 01-Sep-09 Correction. Corrected Schedule A description of the 104 acre parcel and substituted introductory language in Schedule B. Townshend - Buckley/Ferenbach Add-on. On 28-Aug-09 Upgrade Easement. Quitclaim Deed to extinguish rights on previously protected 87.87 acres and upgraded easement on 87.87 acres plus 135 new acres. Alburgh - Sprano. On 29-Jul-09 Revise Farmstead Complex. Increased the size of the south farmstead complex. Corrected and reconfigured the metes and bounds description of the one acre exclusion. Waitsfield - Scrag Corp. (Waitsfield). On 02-Jul-09 Add acres. Added 200 acres and consolidate previously conserved acreage under one easement. Part II, Line 9: Description of How Organization Reports Conservation Easements: EASEMENTS ACQUIRED BY THE TRUST ARE PERPETUAL CONSERVATION EASEMENTS, EACH OF WHICH CONTAINS NUMEROUS RESTRICTIONS OVER THE USE AND DEVELOPMENT OF LAND NOT OWNED BY THE TRUST. SINCE THESE EASEMENTS HAVE NO MARKETABLE VALUE AND BECAUSE THE OBLIGATION TO MONITOR AND ENFORCE EASEMENTS CONSTITUTE PERMANENT ORGANIZATIONAL LIABILITIES, THEY ARE NOT RECORDED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. ALL EASEMENTS ACQUIRED BY PURCHASE ARE EXPENSED AS DEVELOPMENT RIGHTS IN THE STATEMENT OF FUNCTIONAL EXPENSES. Part V, Line 4: Description of Intended Use of Endowment Funds: VERMONT LAND TRUST'S ENDOWMENTS SUPPORT A VARIETY OF USES INCLUDING: - FUNDING THE LAND AND CONSERVATION EASEMENT STEWARDSHIP PROGRAM - ENFORCING CONSERVATION EASEMENT VIOLATIONS - PROVIDING CONSERVATION PROJECT SUPPORT - PROVIDING SUPPORT FOR GENERAL LAND CONSERVATION OPERATIONS Part XII, Line 2d - Other Adjustments: COST OF TIMBER HARVEST EXPENSE AND DEPLETION $143,843 COST OF LAND SOLD $1,655,000 ATLAS STAFF TIME $495 TOTAL $1,799,338 Part XIII, Line 2d - Other Adjustments: COST OF TIMBER HARVEST EXPENSE AND DEPLETION $143,843 COST OF LAND SOLD $1,655,000 ATLAS STAFF TIME $495 TOTAL $1,799,338 1 THE NATURE CONSERVANCY 22 BRIDGE ST 4TH FLOOR CONCORD NH 03301 530242652 5700 PROJECT GPS MAPPING SUPPORT Other Information: Part IV: CONSERVATION PROJECT GRANTS ARE DISBURSED AFTER THE PROJECT CLOSES AND VLT HAS RECEIVED DOCUMENTATION THAT THE REAL ESTATE TRANSACTION HAS BEEN RECORDED IN THE TOWN RECORDS. X X X X 0 0 0 0 0 0 0 0 0 DARBY BRADLEY 95975 0 0 0 19729 0 0 0 14490 0 130194 0 137378 0 Supplemental Information Part III COMPENSATION AMOUNTS ARE FOR THE CALENDAR YEAR 2009. X 27 115161 FAIR MARKET VALUE X 30 0 ZERO VALUE 8 0 1 1 Third Party Use: Part I, Line 32b: VERMONT LAND TRUST USES A BROKERAGE FIRM TO SELL STOCK GIFTS AND USE REALTORS TO SELL REAL ESTATE. Non Reporting of Revenue: Part I, Line 33: VERMONT LAND TRUST DOES NOT RECORD AS REVENUE DONATIONS OF CONSERVATION EASEMENTS BECAUSE THEY HAVE NO MARKETABLE VALUE. Form 990, Part VI, Section A, line 6 THE VERMONT LAND TRUST IS A MEMBERSHIP ORGANIZATION. Form 990, Part VI, Section A, line 7a The Vermont Land Trust is a membership organization. Form 990, Part VI, Section A, line 7b The organization's members have the following rights: To receive notice of and participate in the organization's annual meeting, to nominate candidates to serve on the Board of Trustees, to elect the Board of Trustees, to petition for special meetings of the membership, and to approve any changes to the corporate by-laws. Form 990, Part VI, Section B, line 11 The Director of Finance and the President review the 990 before filing. The 990 is circulated in draft form to the Board's Investments and Financial Monitoring Committee before filing. Form 990, Part VI, Section B, line 12c Each year staff and Board members are reminded of the provisions of the organization's conflict of interest policy, and complete a conflict of interest form. A staff system identifies in advance all potential transactions that could involve a conflict, and the Board reviews all such conflicts. Form 990, Part VI, Section B, line 15 Salary surveys for the region from various sources are reviewed and compared to current pay scales by a committee of the Board of Trustees. From time to time an outside consultant is employed to review compensation levels. Form 990, Part VI, Section C, line 19 Copies of the complete, audited financial statements are provided upon request. A summary of our financial statements is published annually in our annual report, and distributed to each member of the organization. This report is also available to the general public. Our conflict of interest policy is also available on request. BREWSTER UPLANDS CONSERVATION TRUST LLC 8 BAILEY AVENUE MONTPELIER VT 05602 030264836 MANAGE A 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES VT 204706 1692933 N/A