2024-05-01T11:38:39-05:00 2023-06-30 020327524 NATHAN WECHSLER & COMPANY PA 70 COMMERCIAL STREET CONCORD NH 03301 990 2022-07-01 030264836 VERMONT LAND TRUST INC VERM 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 TRACY ZSCHAU CEO/PRESIDENT 8022235234 2024-04-30 1 TRACY ZSCHAU 999009999 0 ORESTE J MOSCA P00366101 6034482650 2024-04-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TRACY ZSCHAU 8 BAILEY AVENUE MONTPELIER VT 05602 19110348 0 X VLT.ORG X 1977 VT TO CONSERVE LAND FOR THE FUTURE OF VERMONT. 17 14 54 14 0 0 24891523 16419541 925862 1125892 1510226 -267042 164567 168800 27492178 17447191 333359 2380897 0 0 4203115 4656038 15900 0 438634 15288431 13760680 19840805 20797615 7651373 -3350424 52514440 53156980 6735761 8639654 45778679 44517326 X ROOTED IN VERMONT SINCE 1977, THE VERMONT LAND TRUST UNITES LAND AND LIVES FOR THE ENDURING BENEFIT OF PEOPLE AND THE PLACE WE SHARE. WE HELP PEOPLE PROTECT, CARE FOR, AND CONNECT TO LAND. THIS INCLUDES THE FARMS, FORESTS, NATURAL AREAS, AND COMMUNITY SPACES THAT DEFINE US. 0 0 13998656 2169397 -481974 LAND PROTECTIONIN PARTNERSHIP WITH LANDOWNERS AND COMMUNITIES, WE CONSERVE LAND AND ENSURE ITS CONTINUED PROTECTION. OVER THE PAST FORTY-FIVE YEARS WE HAVE PROTECTED OVER 620,000 ACRES, OR 11% OF THE STATE. THIS INCLUDES OVER A THOUSAND WORKING FARMS, 440,000 ACRES OF PRODUCTIVE FORESTLAND, AND 1,400 MILES OF STREAMS. OUR WORK SUPPORTS RURAL LIVELIHOODS AND LOCAL ECONOMIES, THE HEALTH AND WELLBEING OF VERMONTERS AND VISITORS, AND HUNDREDS OF PLANT AND ANIMAL SPECIES THAT CALL VERMONT HOME. WE ENSURE THE ONGOING PROTECTION OF THIS LAND IN PARTNERSHIP WITH OVER 2,000 LANDOWNERS. THROUGH REGULAR EDUCATION AND MONITORING, WE UPHOLD THE CONSERVATION EASEMENTS THAT RESTRICT DEVELOPMENT AND WORK WITH LANDOWNERS TO IMPROVE THE HEALTH AND VIABILITY OF THEIR LANDS. 3319919 211500 27658 INVESTING IN PLACETO STRENGTHEN CONNECTIONS BETWEEN PEOPLE AND LAND, CATALYZE FARM AND FOREST BUSINESSES, AND BROADEN LAND ACCESS, WE OWN LAND FOR SHORT OR LONG PERIODS OF TIME. TODAY, WE OWN FOUR FLAGSHIP PROPERTIES AND A HANDFUL OF OTHER PROPERTIES THAT BRING PEOPLE ON TO LAND. THESE PLACES SUPPORT COMMUNITY GARDENS, MULTI-USE TRAILS, AGRICULTURAL ENTERPRISES, FORESTRY DEMONSTRATION PROJECTS, AND EDUCATIONAL OPPORTUNITIES. PROGRAMMING ON THESE LANDS IS DONE IN CLOSE COLLABORATION WITH LOCAL SCHOOLS, BUSINESSES, AND VOLUNTEERS. ADDITIONALLY, TO ADVANCE AFFORDABLE ACCESS TO FARMLAND, WE SOMETIMES BUY AND TRANSFER FARMLAND USING CONSERVATION AS A TOOL TO MAKE LAND MORE AFFORDABLE FOR THE NEXT GENERATION OF FARMERS. USING THIS APPROACH, WE HAVE HELPED OVER 100 FARMERS BUY LAND AND GROW THEIR BUSINESSES. 401373 249773 THE BREWSTER UPLANDS CONSERVATION TRUST IS AN ENTITY THAT SUPPORTS THE MANAGEMENT OF 1,000+ ACRES FOR PUBLIC ACCESS, FARMING AND EDUCATIONAL PURPOSES. 46789 0 ATLAS TIMBERLAND 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 12,000 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. 847964 848461 VERMONT FOREST CARBONVERMONT FOREST CARBON IS A PILOT PROJECT TO AGGREGATE SMALL, SEPERATELY OWNED, INDIVIDUAL PARCELS OF FOREST LAND FOR CARBON STORAGE SEQUESTRATION TO PROVIDE A BROADER SET OF LANDOWNERS ACCESS TO CARBON MARKETS. 894753 848461 18614701 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 172 0 1 54 1 0 0 0 0 0 0 1 1 0 0 0 0 0 X 17 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VT MA CT PA VA NH FL NY CA NJ MD X X X TRACY ZSCHAU 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 ABBIE CORSE TRUSTEE 1.00 X 0 0 0 CAROLYN GILBERT TRUSTEE 1.00 X 1200 0 0 CHARLIE HANCOCK VICE CHAIR 2.00 X X 0 0 0 CHERYL MORSE BOARD CHAIR 2.00 X X 0 0 0 DAVID MIDDLETON TRUSTEE (OUTGOING) 1.00 X 0 0 0 HANNAH SESSIONS TRUSTEE 1.00 X 0 0 0 JEAN HAMILTON TRUSTEE 1.00 X 0 0 0 JESS PHELPS TRUSTEE 1.00 X 0 0 0 JESSICA ESTES BOARD SECRETARY 40.00 X X 63416 0 9936 JOHN KASSEL TRUSTEE 1.00 X 0 0 0 JOHN LAGGIS TRUSTEE 1.00 X 0 0 0 KATHERINE SIMS TRUSTEE 1.00 X 1200 0 0 MARIA YOUNG TRUSTEE 1.00 X 0 0 0 MERIWETHER HARDIE TRUSTEE 1.00 X 0 0 0 MIKE DONOHUE TRUSTEE 1.00 X 0 0 0 PIETER BOHEN TRUSTEE 1.00 X 0 0 0 RAMSEY LUHR TREASURER 2.00 X X 0 0 0 WILLIAM KEETON TRUSTEE 1.00 X 0 0 0 ABBY WHITE VP FOR ENGAGEMENT 40.00 X 122087 0 2969 LYNN ELLEN SCHIMOLER VP FOR OPERATIONS 40.00 X 54088 0 8458 NICK RICHARDSON PRESIDENT AND CEO (OUTGOING) 40.00 X 159959 0 4105 TRACY ZSCHAU PRESIDENT AND CEO (INCOMING) 40.00 X 110288 0 14768 TYLER MILLER VP FOR LAND ACTIVATION 40.00 X 98344 0 26712 DAVID MORRISEY DIRECTOR OF FINANCE 40.00 X 116552 0 2813 727134 0 69761 4 0 1 0 QUANTIFIED VENTURES LLC 6410 RUFFIN ROAD CHEVY CHASE MD 20815 MANAGEMENT CONSULTING 150000 1 10732718 5686823 1530953 16419541 VT FOREST CARBON INCOME 110000 848461 848461 LAND AND TIMBER INCOME 110000 277431 277431 1125892 393246 393246 157258 0 157258 157258 157258 602869 400000 769641 893516 -166772 -493516 -660288 -493516 -166772 ADMIN INCOME 561000 11542 11542 11542 17447191 643918 0 383732 X 2217247 2217247 163650 163650 859498 416596 340990 101912 2568954 2078116 341151 149687 78744 64318 11588 2838 839235 659486 125523 54226 309607 229263 58357 21987 96643 96643 61500 48357 13143 62605 37976 14471 10158 1117573 878743 238830 99839 60562 23078 16199 223457 135889 51529 36039 388310 219213 157925 11172 101255 91528 5958 3769 18582 11272 4295 3015 87206 8929 78277 251021 83676 167345 89643 17188 72455 DEVELOPMENT RIGHTS 9393961 9393961 0 0 CARBON OFFSET 588396 588396 0 0 BAD DEBT EXPENSE 519435 519435 0 0 PROJECT FEASIBILITY 328563 328563 0 0 332691 265694 39365 27632 20797615 18614701 1744280 438634 5828846 1040143 7981210 7981210 429350 1977196 69087 31230 360445 58008 151664 110620 67656 100491 16478065 2641703 13694188 13836362 5996040 9294049 765333 849128 993833 991831 16176788 16886712 52514440 53156980 422435 861020 2077105 5031014 4903024 1282312 798505 6735761 8639654 X 16285900 16846494 29492779 27670832 45778679 44517326 52514440 53156980 X -3350424 929684 1159387 X 0 1 X 1 1 1 X 16992599 11770142 14984142 24891523 16419541 85057947 16992599 11770142 14984142 24891523 16419541 85057947 5428023 79629924 396256 185810 427268 108032 393246 1510612 86568559 13602745 0.91980 0.95450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23694 23694 20773921 20797615 1000000 250000 0 0 855358 879044 1000000 1000000 3734402 5601603 19300 8980 45811 23694 97785 213840 219761 250000 250000 933601 1400402 X X X 2406 533758.00 1 5 1 1 20072.00 1119854 1 22066358 1709247 2001877 1508516 238458 24030508 24636057 3139806 -3228704 2248784 232017 22066358 20432221 731728 4812443 1099684 240651 24636057 20328476 191000 691717 661125 117847 20432221 19661757 2296494 1091985 2536408 185352 20328476 0.05970 0.65610 0.28420 1 0 9551141 9551141 4619788 1714034 2905754 746461 657753 88708 1560675 269916 1290759 13836362 CHARITABLE REMAINDER TRUSTS 1638921 BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION 15232893 DEPOSITS 14898 16886712 DEFERRED CHARITABLE ANNUITIES 795562 DEFERRED OPTION PAYMENTS 2943 798505 X 19936262 929684 1559387 2489071 17447191 0 17447191 21197615 400000 400000 20797615 0 20797615 PART II, LINE 3: AMENDMENT: SATZ (BRANDON): THE PURPOSES OF THE SATZ CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SOIL RESOURCES, SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE CONSERVED PROPERTY. THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING WETLAND PROTECTIONS. FINALLY, THE AMENDMENT ADDED THE VERMONT HOUSING AND CONSERVATION BOARD AS A CO-HOLDER TO THE EASEMENT. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VERMONT HOUSING AND CONSERVATION BOARD AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE SATZ FARM. AMENDMENT: LAKE (RANDOLPH): THE PURPOSES OF THE LAKE CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SOIL RESOURCES, SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE CONSERVED PROPERTY. THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING RIPARIAN PROTECTIONS. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VERMONT HOUSING AND CONSERVATION BOARD AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE LAKE FARM. AMENDMENT: JANEWAY (LONDONDERRY): THIS CORRECTIVE AMENDMENT FIXED AN ERROR IN THE PROPERTY LEGAL DESCRIPTION CONTAINED IN THE SCHEDULE A OF THE QUITCLAIM DEED AND SECOND AMENDMENT TO GRANT OF DEVELOPMENT RIGHTS AND CONSERVATION RESTRICTIONS, WHICH ERRONEOUSLY OMITTED REFERENCE TO THE EXCLUDED PARCELS ESTABLISHED IN THE ORIGINAL GRANT, AND THAT ERRONEOUSLY INCLUDED A REFERENCE TO A DEED FOR LAND WHICH WAS NEVER INTENDED TO BE CONSERVED. THE ERROR IS EVIDENCED IN THE CONTENT OF THE CONSERVATION EASEMENT, WHICH HAS NO STATED INTENTION TO ADD LAND AND REPORTS THE SAME ACREAGE AS THE ORIGINAL GRANT, AND WHICH HAS CLAUSES THAT REFERENCE RIGHTS THAT PERTAIN TO DEVELOPMENT AND ACCESS OF THE EXCLUDED PARCELS. THE VLT BOARD OF TRUSTEES APPROVED THIS CORRECTIVE AMENDMENT. AMENDMENT: RANDALL-KEENEY (MARSHFIELD): THE PURPOSES OF THE RANDALL-KEENEY CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SOIL RESOURCES, SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE CONSERVED PROPERTY. THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 2.5 ACRES TO THE PROTECTED PROPERTY AND DESIGNATING THAT 2.5 ACRES AS A FARMSTEAD COMPLEX IN WHICH VLT CAN APPROVE A FARM LABOR HOUSE IN ITS SOLE DISCRETION. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE RANDALL-KEENEY FARM. AMENDMENT: SHATNEY (GREENSBORO): THE PURPOSES OF THE SHATNEY CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SOIL RESOURCES, SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE 29-ACRE HAYFIELD PARCEL (A PORTION OF THE PROTECTED PROPERTY). THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE SHATNEY FARM. PART II, LINE 9: EASEMENTS ACQUIRED BY THE TRUST ARE CONSERVATION EASEMENTS AND REPRESENT NUMEROUS RESTRICTIONS OVER THE USE AND DEVELOPMENT OF LAND NOT OWNED BY THE TRUST. SINCE THESE EASEMENTS HAVE NO MARKETABLE VALUE, 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. IN SOME INSTANCES WHEN THE TRUST PURCHASES A CONSERVATION EASEMENT ON FARMLAND, IT MAY ALSO ACQUIRE AN OPTION TO PURCHASE THE CONSERVED FARM AT AGRICULTURAL VALUE IN THE EVENT THE LANDOWNER ELECTS TO SELL THE PROPERTY TO AN UNRELATED PARTY OR TO SOMEONE WHO IS NOT A QUALIFIED FARMER AS DEFINED IN THE EASEMENT AGREEMENT. THE TRUST ALSO HOLDS TITLE TO CERTAIN PARCELS WHICH MANAGEMENT DEEMS NOT TO HAVE ANY FAIR VALUE DUE TO THE CONSERVATION RESTRICTIONS OR OTHER LIMITATIONS. IN ALL CASES, THE TRUST MONITORS ACTIVITIES ON THE LAND AND ENFORCES RESTRICTIONS. PART V, LINE 4: 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 X, LINE 2: THE TRUST IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). CONTRIBUTIONS TO THE TRUST ARE DEDUCTIBLE AS ALLOWED UNDER SECTION 170(B)(1)(A)VI) OF THE CODE. THE TRUST HAS ADOPTED THE PROVISIONS OF FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC 740). ACCORDINGLY, MANAGEMENT HAS EVALUATED THE TRUST'S TAX POSITIONS AND CONCLUDED THE TRUST HAS MAINTAINED ITS TAX-EXEMPT STATUS, DOES NOT HAVE ANY SIGNIFICANT UNRELATED BUSINESS INCOME AND HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE TRUST IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL OR STATE TAX AUTHORITIES FOR YEARS BEFORE 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN NETS ASSETS HELD BY VCF 1,159,387. COST OF LAND SOLD 400,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF LAND SOLD 400,000. 1 TOWN OF BURKE 212 SCHOOL STREET WEST BURKE VT 05871 036000408 MUNICIPALITY 20000 0 LAND PROTECTION FUND TOWN OF WAITSFIELD 4144 MAIN ST WAITSFIELD VT 05673 036000726 MUNICIPALITY 48782 0 LAND MANAGEMENT FUND NEW ENGLAND FARMERS OF COLOR CO RESIST INC 5470 US 5 N THETFORD VT 05045 851432004 501(C)3 890792 0 GENERAL SUPPORT CENTER FOR WHOLE COMMUNITIES PO BOX 5483 BURLINGTON VT 05402 510462232 501(C)3 10000 0 GENERAL SUPPORT VERMONT RELEAF COLLECTIVE 3 PITKIN CT 301E MONTPELIER VT 05602 954589497 1246263 0 GENERAL SUPPORT 4 0 2023 LAND STEWARD AWARDS 8 2400 FARMLAND TRANSITION 1 151250 ERIC ROZENDAAL MEMORIAL AWARD 2022 1 5000 ORGANIC CERTIFICATION AWARD 1 5000 PART I, LINE 2: TO ENSURE COMPLIANCE WITH THE POLICIES, THE TRUST MONITORS THE CLOSINGS OF THE PROPERTIES TO ENSURE THAT THE FUNDS ARE BEING USED FOR THE INTENDED PURPOSE. INSPECTIONS OF THE PROPERTIES ARE ALSO DONE ANNUALLY. FOR OTHER GRANTS, DUE DILIGENCE CAN INCLUDE SITE VISITS AND REPORTING WHEN APPLICABLE. X X X X 0 0 0 0 0 0 0 0 0 NICK RICHARDSON PRESIDENT AND CEO (OUTGOING) 159959 0 0 0 0 0 4105 0 0 0 164064 0 0 0 X 19 149528 FAIR MARKET VALUE X 7 0 ZERO VALUE X 2 1325000 FAIR MARKET VALUE X IN-KIND CONTRIBUTION TO GRANT 1 56425 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: VERMONT LAND TRUST USES REALTORS TO SELL REAL ESTATE. 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 11B THE DIRECTOR OF FINANCE, THE VP FOR OPERATIONS, THE PRESIDENT AND THE BOARD'S FINANCE AND INVESTMENTS COMMITTEE REVIEW THE 990 BEFORE FILING. AFTER THIS REVIEW THE DRAFT 990 IS CIRCULATED TO THE ENTIRE BOARD FOR A FINAL REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL EMPLOYEES 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. THE HR TEAM REVIEWS ALL CONFLICT OF INTEREST FORMS. IF A CONFLICT EXISTS, IT IS BROUGHT TO THE MANAGEMENT TEAM TO DETERMINE A COURSE OF ACTION. IF A MEMBER OF THE MANAGEMENT TEAM IS DETERMINED TO HAVE A POTENTIAL CONFLICT, IT IS DECIDED BY THE BOARD. A BOARD MEMBER WITH A POTENTIAL CONFLICT IS RECUSED FROM ALL DECISIONS AND DELIBERATIONS RELATED TO THE CONFLICT. 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. COPIES OF THE 990 AND THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON OUR WEBSITE, VLT.ORG. OUR CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE ON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 878,743. MANAGEMENT AND GENERAL EXPENSES 238,830. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,117,573. FORM 990, PART IX, LINE 24E OTHER OPERATING EXPENSE: PROGRAM SERVICE EXPENSES 99,673. MANAGEMENT AND GENERAL EXPENSES 37,981. FUNDRAISING EXPENSES 26,661. TOTAL EXPENSES 164,315. CHARITABLE GIFT ANNUITY: PROGRAM SERVICE EXPENSES 125,646. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 125,646. LAND MANAGEMENT AND OPERATIONS: PROGRAM SERVICE EXPENSES 36,743. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,743. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 3,632. MANAGEMENT AND GENERAL EXPENSES 1,384. FUNDRAISING EXPENSES 971. TOTAL EXPENSES 5,987. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NETS ASSETS HELD BY VCF 1,159,387. BREWSTER UPLANDS CONSERVATION TRUST LLC 8 BAILEY AVENUE MONTPELIER VT 05602 273840843 MANAGE A 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES VT 457897 1752489 VERMONT LAND TRUST INC VERMONT FOREST CARBON LLC 8 BAILEY AVENUE MONTPELIER VT 05602 843465811 CARBON SEQUESTRATION VT 848461 9899 VERMONT LAND TRUST INC