2025-02-17T15:23:33-06:00 2024-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD SUITE 1500 RALEIGH NC 27609 990 2024-01-01 451437560 TERRAFIRMA RISK RETENTION GROUP LLC TERR 8028645599 463 MOUNTAIN VIEW DR 301 COLCHESTER VT 05446 THOMAS KESTER OPS MANAGER & SECRETARY - ARMS 8028645599 2025-02-12 1 0 J CALVIN MARKS P01226973 9197196400 2024 2025-03-06 01:10:19Z THOMAS KESTER 463 MOUNTAIN VIEW DR 301 COLCHESTER VT 05446 5766698 0 X WWW.TERRAFIRMA.ORG X LLC 2011 VT THE PRIMARY EXEMPT PURPOSE OF TERRAFIRMA IS TO OPERATE AS A QUALIFIED CHARITABLE RISK POOL PURSUANT TO I.R.C. SECTION 501(N). 9 9 0 16 0 0 1100 700 2072653 2175789 336863 835893 0 0 2410616 3012382 0 0 0 0 0 0 0 0 0 2304651 1025688 2304651 1025688 105965 1986694 13526035 14693724 5448044 4418346 8077991 10275378 X THE PRIMARY EXEMPT PURPOSE OF TERRAFIRMA IS TO OPERATE AS A QUALIFIEDCHARITABLE RISK POOL PURSUANT TO I.R.C. SECTION 501(N). 0 0 249905 2175789 THE PRIMARY PURPOSE OF TERRAFIRMA IS TO OPERATE AS A QUALIFIED CHARITABLE RISK POOL PURSUANT TO I.R.C. SECTION 501(N), ORGANIZED AND OPERATED TO POOL AND INSURE THE INSURANCE RISKS OF ITS MEMBERS AND TO PROVIDE INFORMATION TO ITS MEMBERS WITH RESPECT TO LOSS CONTROL AND RISK MANAGEMENT. EACH MEMBER OF SUCH POOL SHALL AT ALL TIMES BE AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND EXEMPT FROM INCOME TAX UNDER SECTION 501(A). FUNDAMENTALY, TERRAFIRMA IS DESIGNED TO PROVIDE A SAFETY NET FOR A CHARITABLE LAND TRUST FROM CATASTROPHIC LEGAL EXPENSES AND PROVIDE THE CONFIDENCE AND CAPABILITY TO UPHOLD OUR CONSERVATION OBLIGATIONS FOREVER. HOWEVER, TERRAFIRMA WILL ALSO OFFER LOSS PREVENTION AND RISK MANAGEMENT SERVICES TO ITS MEMBERS THROUGH ALLIANCE RISK MANAGEMENT SERVICES, LLC (ARMS), A WHOLLY OWNED SUBSIDIARY OF THE LAND TRUST ALLIANCE, INC. AND THE MANAGER OF TERRAFIRMA WILL ALSO PROVIDE FREE CLAIMS ASSISTANCE TO LAND TRUSTS AND EARLY ADVICE TO ASSIST DISPUTE RESOLUTION AND AVOID UNNECESSARY LITIGATION. 249905 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 62 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X X MARSH MANAGEMENT SERVICES INC 8028645599 463 MOUNTAIN VIEW DR SUITE 301 COLCHESTER VT 05446 X WILLIAM SANDY HAUSERMAN MEMBERS COMMITTEE (TO MAY '24) 1.00 X 0 0 0 DEBORAH GOARD MEMBERS COMMITTEE 1.00 X 0 0 0 SHELLEY HARMS MEMBERS COMMITTEE 1.00 X 0 0 0 ELLEN KAZARY MEMBERS COMMITTEE 1.00 X 0 0 0 KRISTI MERGENTHALER MEMBERS COMMITTEE 1.00 X 0 0 0 ROBERT BOB OWEN MEMBERS COMMITTEE 1.00 X 0 0 0 EMILY PARISH MEMBERS COMMITTEE 1.00 X 0 0 0 JAMES E ROGERS MEMBERS COMMITTEE 1.00 X 0 0 0 JEFF SWINEHART MEMBERS COMMITTEE 1.00 X 0 0 0 MARCY WATERFALL MEMBERS COMMITTEE (FROM MAY '24) 1.00 X 0 0 0 ANDREW BOWMAN PRESIDENT - ARMS (TO JUL '24) 5.00 X 0 0 0 JENNIFER HERZOG ACTING PRESIDENT - ARMS (FROM JUL '24) 5.00 X 0 0 0 RENEE KIVIKKO VICE PRESIDENT - ARMS 5.00 X 0 0 0 LESLIE RATLEY-BEACH VICE PRESIDENT - ARMS 20.00 X 0 0 0 CHASE WARDEN TREASURER - ARMS 10.00 X 0 0 0 THOMAS KESTER SECRETARY - ARMS 5.00 X 0 0 0 0 0 0 0 0 0 0 LAND TRUST ALLIANCE 1250 H ST NW STE 600 WASHINGTON DC 20005 MANAGEMENT & OVERSIGHT 522462 MARSH MANAGEMENT SERVICES 463 MOUNTAIN VIEW DR COLCHESTER VT 05446 MANAGEMENT & OVERSIGHT 132000 2 700 700 EARNED PREMIUMS 524298 2170814 2170814 REGISTRATION FEES 524298 4975 4975 2175789 398332 398332 3191877 2754316 437561 437561 437561 3012382 2175789 0 835893 576711 576711 22644 22644 28562 28562 40912 40912 11134 11134 4394 4394 9465 9465 24164 24164 44288 44288 INSURANCE LOSSES 183296 183296 PREMIUM TAX 66609 66609 REGULATORY & LICENSING 9481 9481 4028 4028 1025688 249905 775783 0 1246388 1429824 1821810 2141217 119959 97239 13949 15248 83406 83406 0 0 10276316 10952753 47613 57443 13526035 14693724 269397 206050 435583 407189 4743064 3805107 5448044 4418346 X 0 0 4261900 4262600 3816091 6012778 8077991 10275378 13526035 14693724 1986694 210693 0 X 0 1 X 1 0 X 2000 600 600 1100 700 5000 1723060 1852428 1860442 2072653 2175789 9684372 1725060 1853028 1861042 2073753 2176489 9689372 0 46457 49594 62349 64577 57308 280285 46457 49594 62349 64577 57308 280285 9409087 174707 155535 184280 285996 398332 1198850 174707 155535 184280 285996 398332 1198850 1899767 2008563 2045322 2359749 2574821 10888222 0.86420 0.87450 0.11010 0.09930 X 83406 83406 0 0 UNPAID LOSSES & LOSS ADJUSTMENT EXPENSES 3805107 3805107 X 3181463 210693 210693 2970770 40912 700 41612 3012382 984777 0 984777 40912 40912 1025689 PART X, LINE 2: TERRAFIRMA HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS THAT WOULD JEOPARDIZE ITS FEDERAL INCOME TAX EXEMPTION STATUS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTED CAPITAL 700. LAND TRUST ALLIANCE SHARED OFFICERS 444711 MANAGEMENT FEES INCURRED TO THE LAND TRUST ALLIANCE 0 PART IV ANDREW BOWMAN, JENNIFER HERZOG, AND CHASE WARDEN ARE OFFICERS OF THE LAND TRUST ALLIANCE. $444,711 IS THE TOTAL AMOUNT OF MANAGEMENT FEES INCURRED TO THE LAND TRUST ALLIANCE BY TERRAFIRMA. FORM 990, PART VI, SECTION A, LINE 3 TERRAFIRMA IS A CHARITABLE RISK POOL AND LICENSED INSURER. AS SUCH, IT IS HIGHLY REGULATED BY THE STATE OF VERMONT AND IS REQUIRED TO CONTRACT WITH A FINANCIAL MANAGER TO WHOM SUBSTANTIAL FUNCTIONS ARE DELEGATED. TERRAFIRMA IS A LIMITED LIABILITY COMPANY WITH A NON-MEMBER MANAGER TO WHICH THE MEMBERS HAVE DELEGATED SIGNIFICANT OPERATIONAL POWERS UNDER A FORMAL OPERATING AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 TERRAFIRMA HAD 554 LAND TRUST MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE OPERATING AGREEMENT SPECIFIES THE ELECTION OF THE MEMBER COMMITTEE BY THE MEMBERS OF THE LLC. FORM 990, PART VI, SECTION A, LINE 7B THE MANAGER MAY BE CHANGED BY A SUPERMAJORITY OF MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE TAX ADVISOR COMPLETES A DRAFT OF THE FORM 990, THE MANAGERS OF TERRAFIRMA REVIEW THE FORM AND ASK FOR ANY CLARIFICATION, THEN THE FULL MEMBERS COMMITTEE AND AUDIT COMMITTEE RECEIVES THE FORM AND REVIEWS IT CAREFULLY PRIOR TO SIGNING AND FILING THE FORM. THE MEMBERS COMMITTEE AND AUDIT COMMITTEE QUESTIONS ARE ANSWERED IN FULL BY THE MANAGERS PRIOR TO SIGNING AND FILING. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS COMMITTEE AND THE NON-MEMBER MANAGER ALL FILE ANNUAL CONFLICTS AND DISCLOSURES WHICH THE MANAGERS REVIEW ANNUALLY. SHOULD A CONFLICT OF INTEREST ARISE, THE ALLIANCE RISK MANAGEMENT SERVICES STAFF WOULD BE CHARGED WITH RECOMMENDING AND IMPLEMENTING APPROPRIATE ACTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 IS AVAILABLE ON THE WEBSITE AND UPON REQUEST. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST.