2026-07-27T10:59:01-05:00 2025-09-30 050409384 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2024-10-01 223073770 AQUIDNECK ISLAND LAND TRUST AQUI 4018492799 790 AQUIDNECK AVENUE MIDDLETOWN RI 02842 TERENCE M SULLIVAN EXECUTIVE DIRECTOR 4018492799 2026-07-27 1 1 PATRICK J MARTIN P00283486 4012742001 2026-07-20 2024 2025-03-06 01:10:19Z TERENCE M SULLIVAN 790 AQUIDNECK AVENUE MIDDLETOWN RI 02842 2594240 0 X WWW.AILT.ORG X 1999 RI PRESERVE AQUIDNECK ISLAND'S OPEN SPACES & NATURAL CHARACTER FOR THE LASTING BENEFIT OF THE COMMUNITY. 15 15 12 212 0 0 2349901 2129992 0 0 410103 388120 -142279 -112792 2617725 2405320 0 10148 0 0 1038978 1300084 0 0 452633 4035784 1060635 5074762 2370867 -2457037 34453 25780238 26146196 1819258 1582727 23960980 24563469 X TO PRESERVE AND STEWARD AQUIDNECK ISLAND'S OPEN SPACES FOR THE LASTING BENEFIT OF THE COMMUNITY WHILE CONNECTING PEOPLE WITH THE LAND THAT DEFINES THE ISLAND'S NATURAL CHARACTER. 1 0 1018497 ONE PROPERTY CONSISTING OF 13.01 ACRES WAS PERMANENTLY PROTECTED ON AQUIDNECK ISLAND IN THE YEAR ENDED SEPTEMBER 30, 2025. PRESERVED PARCELS ARE STRATEGICALLY IMPORTANT BASED ON CLEAR CONSERVATION CRITERIA. AS OF SEPTEMBER 30, 2025, THE LAND TRUST HAS PRESERVED AND PROTECTED 2,854.04 ACRES OF LAND TO DATE. THROUGH OUR AQUIDNECK RESILIENCE TEAM, WE ARE PARTNERING WITH THE THREE ISLAND MUNICIPALITIES, NAVAL STATION NEWPORT, AND THE BROADER COMMUNITY TO PREPARE FOR AND RESPOND TO INCREASING CLIMATE CHANGE RELATED CHALLENGES, SUCH AS, STORMWATER POLLUTION, FLOODING AND COASTAL EROSION. 269254 THE LAND TRUST ASSURES RESPONSIBLE, PERPETUAL STEWARDSHIP FOR ALL CONSERVED LANDS, DRIVEN BY A COMMITMENT TO PROTECT EACH PARCEL TO THE HIGHEST POSSIBLE STANDARD IN ACCORDANCE WITH THE CONSERVATION EASEMENT, A DEDICATION TO EXCELLENCE AND CARE IN STEWARDSHIP PRACTICES, AND ARDENT DEFENSE OF THE LAND ENTRUSTED TO THEM BY GRANTORS. 250848 10148 PUBLIC ACCESS, EDUCATION, AND COMMUNICATION, PRIMARILY THROUGH MEMBERSHIP SERVICES, BOLSTER THE LAND TRUST'S LAND PROTECTION AND STEWARDSHIP OBJECTIVES THROUGH TARGETED AND SHARPLY FOCUSED EDUCATION AND COMMUNICATION ACTIVITIES AND BALANCED PUBLIC ACCESS STRATEGIES THAT PROMOTE A LAND CONSERVATION ETHIC, CREATE AN UNDERSTANDING OF THE URGENT NEED TO CONSERVE OPEN SPACES, AND BUILD BROAD-BASED PUBLIC AWARENESS AND SUPPORT OF THE LAND TRUST'S MISSION AND GOALS. ACTIVITIES INCLUDE LECTURES, PROPERTY TOURS, NEWSLETTERS, PROMOTIONAL MATERIALS, THE ANNUAL REPORT, AND ANNUAL MEETING. 1538599 1 1 0 1 0 0 1 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 27 0 12 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 RI X X MARTHA CURLEY 4018492799 790 AQUIDNECK AVENUE MIDDLETOWN RI 02842 JONATHAN GEWIRZ CHAIR (TO 1/25),TRUSTEE (AS OF 1/25) 1.00 X 0 0 0 LILLY DICK CHAIR (AS OF 1/25) 1.00 X X 0 0 0 THOMAS GIBSON VICE CHAIR 1.00 X X 0 0 0 ALVARO LONDONO TREASURER 1.00 X X 0 0 0 CONLEY ZANI SECRETARY 1.00 X X 0 0 0 BETTIE BEARDEN PARDEE TRUSTEE 1.00 X 0 0 0 MARK MAROSITS TRUSTEE 1.00 X 0 0 0 BILL CORCORAN TRUSTEE 1.00 X 0 0 0 LIZ TABER KOBYLAK TRUSTEE (TO 1/25) 1.00 X 0 0 0 SANDRA CRAIG TRUSTEE 1.00 X 0 0 0 STEPHEN HUTTLER TRUSTEE 1.00 X 0 0 0 TIMOTHY BROWN TRUSTEE (TO 1/25) 1.00 X 0 0 0 WILLIAM W HARVEY II TRUSTEE (TO 1/25) 1.00 X 0 0 0 MATTHEW KIRBY TRUSTEE 1.00 X 0 0 0 DAVID MACBAIN TRUSTEE 1.00 X 0 0 0 SARA WUERSTLE TRUSTEE 1.00 X 0 0 0 STEVE MACGILLIVRAY TRUSTEE (AS OF 04/25) 1.00 X 0 0 0 HEATHER BURGESS TRUSTEE (AS OF 01/25) 1.00 X 0 0 0 TERENCE SULLIVAN EXECUTIVE DIRECTOR 40.00 X 231743 0 19783 MARTHA CURLEY FINANCE DIRECTOR 40.00 X 94075 0 22687 EDWARD MAGRO DEVELOPMENT DIRECTOR 40.00 X 150060 0 33325 475878 0 75795 2 0 1 0 SUMCO ECO-CONTRACTING LLC 401 EDGEWATER PLACE SUITE 680 WAKEFIELD MA 01880 SGT BOARDWALK 354565 BLUE CROSS BLUE SHIELD OF RHODE ISLAND PO BOX 1057 PROVIDENCS RI 02901 HEALTH INSURANCE PREMIUMS 147119 2 204584 409964 319622 1195822 63375 2129992 343704 343704 66994 22578 44416 44416 44416 53550 409964 166342 -112792 -112792 2405320 0 0 275328 10148 10148 379038 174408 140693 63937 730994 472711 64614 193669 16440 9276 1782 5382 90589 63594 1571 25424 83023 49690 14025 19308 44402 44402 54137 54137 195653 111239 14813 69601 28521 16113 12408 118979 80149 6763 32067 48440 30861 7381 10198 911 724 74 113 20990 5056 15934 57272 35403 9181 12688 24899 14740 4265 5894 CONSERVATION EASEMENTS 405000 405000 LAND ACQUISITION IMPROV 59487 59487 STAFF DEVELOPMENT 1944 1944 2370867 1538599 379635 452633 731936 1092443 1622400 560386 15856 32757 559870 559678 16181 11679 10606169 233848 10004348 10372321 12275615 12825647 92708 92590 40379 461324 558316 25780238 26146196 1662296 104030 59717 326045 981981 97245 170671 1819258 1582727 X 12799382 13935790 11161598 10627679 23960980 24563469 25780238 26146196 X 34453 568154 -118 X 0 1 X 1 0 X 7090550 6495061 1485704 2349901 2129992 19551208 7090550 6495061 1485704 2349901 2129992 19551208 4702562 14848646 150236 178328 215994 250714 343704 1138976 20690184 209551 0.71770 0.70850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 2370867 2370867 268543 67136 0 0 639966 330117 403738 268543 1642364 2463546 159992 82529 100935 67136 410592 615888 X X X 102 2854.04 1 1 1611.00 51901 0 4327180 348771 167380 65000 4443571 3813028 761937 247785 4327180 3660519 400529 248020 3813028 6536272 -821146 308726 1745881 3660519 5766682 1056242 286652 6536272 0.30550 0.62989 0.06461 0 0 9349732 9349732 520793 104646 416147 649096 89120 559976 33775 24905 8870 52773 15177 37596 10372321 LOAN PAYABLE TO AFFILIATE 50000 AMOUNTS HELD FOR OTHERS 47806 OPERATING LEASE PAYABLE 72865 170671 X PART II, LINE 9: ACQUISITIONS OF EASEMENTS AND LAND BY THE LAND TRUST OCCUR IN THE FORM OF BOTH CONTRIBUTIONS AND PURCHASES. EASEMENTS ACQUIRED BY THE LAND TRUST REPRESENT NUMEROUS RESTRICTIONS OVER THE USE AND DEVELOPMENT OF LAND NOT OWNED BY THE LAND TRUST. THESE EASEMENTS GENERALLY PROVIDE THAT THE LAND WILL BE MAINTAINED UNIMPAIRED IN ITS CURRENT NATURAL, AGRICULTURAL, SCENIC OR RECREATIONAL STATE. EASEMENTS PROTECTING LAND ARE NOT VALUED ON THE STATEMENT OF FINANCIAL POSITION GIVEN THAT THE EASEMENTS HAVE NO COMMERCIAL VALUE ONCE THEY ARE ACQUIRED BY THE LAND TRUST. FOR PURPOSES OF THE STATEMENT OF ACTIVITIES, THE VALUE OF LAND OR EASEMENTS ACQUIRED DURING THE CURRENT YEAR IS REPORTED AT THE FAIR MARKET VALUE OF THE TRANSACTIONS WITH FAIR MARKET VALUE DETERMINED EITHER ON THE BASIS OF AN APPRAISAL REPORT OR THE CASH VALUE ESTABLISHED BY THE LOCAL TAX ASSESSOR. PART V, LINE 4: AQUIDNECK LAND TRUST'S ENDOWMENT FUNDS ARE USED TO ENSURE RESPONSIBLE PERPETUAL STEWARDSHIP FOR ALL LAND TRUST CONSERVED LANDS, DRIVEN BY A COMMITMENT TO PROTECT EACH PARCEL TO THE HIGHEST POSSIBLE STANDARD IN ACCORDANCE WITH THE CONSERVATION EASEMENT, A DEDICATION TO EXCELLENCE AND CARE IN STEWARDSHIP PRACTICES, AND ARDENT DEFENSE OF THE LAND ENTRUSTED TO THE LAND TRUST BY GRANTORS. PART X, LINE 2: THE LAND TRUST IS A PUBLIC CHARITY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE LAND TRUST OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE FEDERAL AND STATE LEVELS. THE LAND TRUST ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS AND THE INCOME TAX RETURNS OF THE SUBSIDIARY ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE SUBSIDIARY HAS ELECTED TO HAVE ITS INCOME TAXED UNDER THE PROVISIONS OF SUBCHAPTER C OF THE INTERNAL REVENUE CODE. SUBCHAPTER C PROVIDES THAT THE CORPORATION IS TAXED ON THE ENTITY'S TAXABLE INCOME. FOR THE YEAR ENDED SEPTEMBER 30, 2025, THE SUBSIDIARY HAD A NET OPERATING LOSS. THE ORGANIZATION CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. SUMMER PARTY 425398 384098 41300 60674 600 84503 GOLF TOURNAMENT 29416 17166 12250 2616 7014 4277 2 8700 8700 6658 463514 409964 53550 2616 67688 600 95438 166342 -112792 1 PART I, LINE 2: THE ORGANIZATION MAINTAINS PROCEDURES FOR AWARDING GRANTS AND ASSISTANCE IN FURTHERANCE OF ITS EXEMPT PURPOSE. THE ORGANIZATION RETAINS RECORDS SUFFICIENT TO SUBSTANTIATE GRANT AMOUNTS, RECIPIENT ELIGIBILITY, AND THE CRITERIA USED FOR SELECTION, INCLUDING SUPPORTING DOCUMENTATION AND APPROVAL RECORDS. X 0 0 0 0 0 0 0 0 0 TERENCE SULLIVAN EXECUTIVE DIRECTOR 231743 0 0 0 0 0 6952 0 12831 0 251526 0 0 0 EDWARD MAGRO DEVELOPMENT DIRECTOR 148345 0 1715 0 0 0 4460 0 28865 0 183385 0 0 0 PART I, LINE 3 ANNUALLY THE BOARD CONDUCTS A PERFORMANCE REVIEW AND EVALUATION OF THE EXECUTIVE DIRECTOR. THE REVIEW ALSO ESTABLISHES THE EXECUTIVE DIRECTOR'S COMPENSATION FOR THE FOLLOWING YEAR. THE MINUTES OF THE MEETING NOTE THE OCCURRENCE OF THE ANNUAL REVIEW. THE COMPENSATION FOR ALL OTHER EMPLOYEES, INCLUDING THE FINANCE DIRECTOR, IS DETERMINED BY THE EXECUTIVE DIRECTOR DURING THE EMPLOYEE'S ANNUAL PERFORMANCE REVIEW AND EVALUATION. THE BOARD APPROVES THE COMPENSATION OF OTHER EMPLOYEES THROUGH THE ANNUAL BUDGET APPROVAL PROCESS. VAN BEUREN CHARITABLE FOUNDATION SUBSTANTIAL CONTRIBUTOR RECOVERABLE GRANT X 2500000 981981 0 1 1 981981 X 13 63375 FAIR MARKET VALUE 1 0 1 0 FORM 990, PART III, LINE 2 DURING THE TAX YEAR, THE ORGANIZATION LAUNCHED A NEW RESILIENCE PROGRAM. THROUGH OUR AQUIDNECK RESILIENCE TEAM, WE ARE PARTNERING WITH THE THREE ISLAND MUNICIPALITIES, NAVAL STATION NEWPORT, AND THE BROADER COMMUNITY TO PREPARE FOR AND RESPOND TO INCREASING CLIMATE CHANGE RELATED CHALLENGES, SUCH AS, STORMWATER POLLUTION, FLOODING AND COASTAL EROSION. FORM 990, PART VI, SECTION A, LINE 6 AQUIDNECK LAND TRUST HAS MEMBERS WHO PAY ANNUAL MEMBERSHIP DUES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED OR CONFIRMED ANNUALLY BY THE MEMBERSHIP OF AQUIDNECK LAND TRUST AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL AUDITORS AND REVIEWED BY THE FINANCE DIRECTOR. ONCE THE FINANCE DIRECTOR IS SATISFIED WITH THE FORM, IT IS SHARED WITH THE EXECUTIVE DIRECTOR AND BOARD TREASURER, THEN IT IS FINALIZED AND A COPY IS SENT TO ALL BOARD MEMBERS. IF NO QUESTIONS OR CHANGES ARE NECESSARY, THE FORM IS THEN SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS PROVIDED TO ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES. THESE PEOPLE ARE ASKED TO REVIEW THE POLICY AND SIGN A STATEMENT INDICATING THAT THEY UNDERSTAND THE POLICY, HAVE REPORTED ALL POTENTIAL CONFLICTS DURING THE PAST YEAR IN ACCORDANCE WITH THE POLICY AND WILL REPORT ALL POTENTIAL CONFLICTS DURING THE COMING YEAR. THE CONTACT POINTS FOR POTENTIAL CONFLICTS ARE THE EXECUTIVE DIRECTOR AND THE BOARD CHAIR, FOLLOWING WHICH A DETERMINATION WILL BE MADE IF A CONFLICT ACTUALLY EXISTS. IN THOSE INSTANCES WHERE THE POTENTIAL TRANSACTION IS A CONFLICT, THE BOARD EXAMINES THE TRANSACTION AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY THE BOARD CONDUCTS A PERFORMANCE REVIEW AND EVALUATION OF THE EXECUTIVE DIRECTOR. THE REVIEW ALSO ESTABLISHES THE EXECUTIVE DIRECTOR'S COMPENSATION FOR THE FOLLOWING YEAR. THE MINUTES OF THE MEETING NOTE THE OCCURRENCE OF THE ANNUAL REVIEW. THE COMPENSATION FOR ALL OTHER EMPLOYEES, INCLUDING THE FINANCE DIRECTOR, IS DETERMINED BY THE EXECUTIVE DIRECTOR DURING THE EMPLOYEE'S ANNUAL PERFORMANCE REVIEW AND EVALUATION. THE BOARD APPROVES THE COMPENSATION OF OTHER EMPLOYEES THROUGH THE ANNUAL BUDGET APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. FORM 990, PART XI, LINE 9: GAIN/LOSS IN INVESTMENT IN AFFILIATE -118. THREE S CORPORATION 790 AQUIDNECK AVE MIDDLETOWN RI 02842 050318828 PRESERVING OPEN SPACE FOR THE LASTING BENEFIT OF THE COMMUNITY. RI AQUIDNECK ISLAND LAND TRUST C 653268 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0