2025-04-16T09:46:58-05:00 2024-06-30 020327524 NATHAN WECHSLER & COMPANY PA 70 COMMERCIAL STREET CONCORD NH 03301 990 2023-07-01 030264836 VERMONT LAND TRUST INC VERM 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 TRACY ZSCHAU CEO/PRESIDENT 8022235234 2025-04-16 1 1 ORESTE J MOSCA P00366101 6034482650 2025-04-04 2023 2025-03-06 01:10:19Z TRACY ZSCHAU 8 BAILEY AVENUE MONTPELIER VT 05602 29149543 0 X VLT.ORG X 1977 VT TO CONSERVE LAND FOR THE FUTURE OF VERMONT. 15 13 53 46 0 0 16419541 23951279 1125892 723979 -267042 1819670 168800 209842 17447191 26704770 2380897 46000 0 0 4656038 4508595 0 106266 542252 13760680 16385852 20797615 21046713 -3350424 5658057 53156980 62068678 8639654 9555604 44517326 52513074 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 14890060 46000 222916 LAND PROTECTIONIN PARTNERSHIP WITH LANDOWNERS AND COMMUNITIES, WE CONSERVE LAND AND ENSURE ITS CONTINUED PROTECTION. OVER THE PAST FORTY-SEVEN YEARS WE HAVE PROTECTED OVER 647,000 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. 3366830 14292 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. 110584 2683 THE BREWSTER UPLANDS CONSERVATION TRUST IS AN ENTITY THAT SUPPORTS THE MANAGEMENT OF 1,000+ ACRES FOR PUBLIC ACCESS, FARMING AND EDUCATIONAL PURPOSES. 170216 727212 ATLAS TIMBERLAND PROJECTTHE ATLAS TIMBERLANDS PROJECT IS A JOINT UNDERTAKING OF THE VERMONTLAND TRUST AND THE NATURE CONSERVANCY. TOGETHER, THE TWO ORGANIZATIONSOWN AND MANAGE APPROXIMATELY 5,230 ACRES OF TIMBERLAND IN THE NORTHERNGREEN MOUNTAINS. THE MANAGEMENT OF THIS LAND PROVIDES DIRECT EXPERIENCEWITH THE CHALLENGES OF OWNING AND MANAGING TIMBERLAND FOR ECONOMIC ANDBIODIVERSITY VALUES. THIS EXPERIENCE HAS A DIRECT IMPACT ON OUR ABILITYTO UNDERSTAND AND ADDRESS CONCERNS OF OWNERS OF CONSERVED TIMBERLAND.ALL OF THE LAND IS OPEN TO THE PUBLIC FOR HIKING, HUNTING, AND OTHERNON-MOTORIZED RECREATION. 365320 704322 VERMONT FOREST CARBONVERMONT FOREST CARBON IS A PILOT PROJECT TO AGGREGATE SMALL, SEPERATELYOWNED, INDIVIDUAL PARCELS OF FOREST LAND FOR CARBON STORAGESEQUESTRATION TO PROVIDE A BROADER SET OF LANDOWNERS ACCESS TO CARBON MARKETS. 535536 1431534 18903010 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 149 0 1 53 1 0 0 0 0 0 0 1 1 0 0 0 0 0 X 15 13 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 - PRESIDENTCEO 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 ABBIE CORSE TRUSTEE 1.00 X 575 0 0 CAROLYN GILBERT TRUSTEE 1.00 X 575 0 0 CHARLIE HANCOCK VICE CHAIR 2.00 X X 575 0 0 CHERYL MORSE BOARD CHAIR 2.00 X X 0 0 0 HANNAH SESSIONS TRUSTEE 1.00 X 575 0 0 JEAN HAMILTON TRUSTEE 1.00 X 575 0 0 JESS PHELPS TRUSTEE 1.00 X 0 0 0 JESSICA ESTES BOARD SECRETARY 40.00 X X 64368 0 9683 JOHN KASSEL TRUSTEE 1.00 X 0 0 0 JOHN LAGGIS TRUSTEE 1.00 X 575 0 0 MARIA YOUNG TRUSTEE 1.00 X 575 0 0 MERIWETHER HARDIE TRUSTEE 1.00 X 575 0 0 MIKE DONOHUE TRUSTEE 1.00 X 575 0 0 RAMSEY LUHR TREASURER 2.00 X X 0 0 0 WILLIAM KEETON TRUSTEE 1.00 X 575 0 0 ABBY WHITE VP FOR ENGAGEMENT 40.00 X 128971 0 3088 LYNN ELLEN SCHIMOLER VP FOR OPERATIONS- OUTGOING 40.00 X 108532 0 17201 TRACY ZSCHAU PRESIDENT AND CEO 40.00 X 143186 0 11855 TYLER MILLER VP FOR LAND ACTIVATION 40.00 X 101116 0 24238 DAVID MORRISEY DIRECTOR OF FINANCE- OUTGOING 40.00 X 123140 0 2682 675063 0 68747 5 0 1 0 0 14688051 9263228 466674 23951279 VT FOREST CARBON INCOME 110000 704322 704322 LAND AND TIMBER INCOME 110000 19657 19657 723979 710205 710205 169055 0 169055 169055 169055 264110 3290128 104773 2340000 159337 950128 1109465 1109465 MISCELLANEOUS INCOME 561000 22221 22221 STEWARDSHIP INCOME 561000 18366 18366 MERCHANDISE SALES 561000 200 200 40787 26704770 1874231 0 879260 X 31000 31000 15000 15000 674309 401189 238628 34492 2583153 2155147 236758 191248 74578 66033 6234 2311 888890 726574 100721 61595 287665 228237 39688 19740 51098 51098 60500 40413 20087 106266 106266 118376 72789 27822 17765 885458 591474 293984 49485 30428 11631 7426 190932 118473 44521 27938 47059 28937 11060 7062 361757 194824 155770 11163 88236 80396 4367 3473 27190 16719 6391 4080 85811 13109 72702 247149 80647 166502 109735 19843 89892 DEVELOPMENT RIGHTS 12601857 12601857 PROJECT FEASIBILITY 472335 472335 COST OF LAND AND TIMBER 327354 327354 OTHER OPERATING EXPENSE 299469 184143 70384 44942 362051 354991 4309 2751 21046713 18903010 1601451 542252 1040143 642446 7981210 10364112 1977196 2515014 31230 2645 58008 32105 110620 107601 100491 76077 14499907 2888853 13836362 11611054 9294049 15968597 849128 986509 991831 655190 16886712 19107328 53156980 62068678 861020 503006 2077105 2077105 2943 4903024 5615133 798505 1357417 8639654 9555604 X 16846494 18233659 27670832 34279415 44517326 52513074 53156980 62068678 X 5658057 799292 1538399 X X 0 1 X 1 1 1 X 11770142 14984142 24891523 16419541 23951279 92016627 11770142 14984142 24891523 16419541 23951279 92016627 8975062 83041565 185810 427268 108032 393246 710205 1824561 93841188 11516969 0.88490 0.91980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10188 10188 21036525 21046713 1000000 250000 0 0 879044 1000000 1000000 1000000 3879044 5818566 8980 45811 23694 10188 88673 219761 250000 250000 250000 969761 1454642 X X X 2453 541226.00 1 10 1 1 21278.00 1143805 1 24030508 3527183 2555579 1300812 269000 28543458 22066358 1709247 2001877 1508516 238458 24030508 24636057 3139806 -3228704 2248784 232017 22066358 20432221 731728 4812443 1099684 240651 24636057 20328476 191000 691717 661125 117847 20432221 0.05230 0.63770 0.31000 1 0 7311987 7311987 4794453 1854292 2940161 826813 694995 131818 1566654 339566 1227088 11611054 CHARITABLE REMAINDER TRUSTS 1498200 BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION 16913745 DEPOSITS 650 UNDEPOSITED FUNDS 662578 RECEIVABLES DUE FROM RELATED ENTITIES 32155 19107328 DEFERRED CHARITABLE ANNUITIES 824018 POSTAGE PAYABLE 1429 DUE FROM RELATED ENTITIES 531970 1357417 X 31374151 799292 55450 3878399 4733141 26641010 63760 63760 26704770 23378403 55450 2340000 2395450 20982953 63760 63760 21046713 PART II, LINE 3: AMENDMENT: BESSETTE T&C: THIS CORRECTIVE AMENDMENT FIXED AN ERROR IN THE PROPERTY LEGAL DESCRIPTION CONTAINED IN THE SCHEDULE A OF THE CONSERVATION EASEMENT, WHICH ERRONEOUSLY LISTED THE INCORRECT DATE OF THE VESTING DEED INTO THE GRANTORS. THE VLT BOARD OF TRUSTEES AND THE VERMONT HOUSING AND CONSERVATION BOARD APPROVED THIS AMENDMENT. AMENDMENT: GREEN MOUNTAIN CONSERVNACY: THE PURPOSES OF THE GREEN MOUNTAIN CONSERVANCY EASEMENT ARE TO CONSERVE WILDLIFE HABITAT, FOREST VALUES, SCENIC RESOURCES, NON-COMMERCIAL RECREATION OPPORTUNITIES, EDUCATIONAL OPPORTUNITIES, PLANT HABITAT FOR ECOLOGICAL AND BIOLOGICAL HEALTH OF THE PROPERTY, AND PUBLIC ACCESS OPPORTUNITIES FOR PRESENT AND FUTURE GENERATIONS. THIS AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 29.77 ACRES OF PREVIOUSLY UNCONSERVED LAND TO THE EASEMENT. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING MORE ACREAGE TO THE FOREST PROTECTION ZONE. THE AMENDMENT ALSO ADDED WETLAND AND RIPARIAN PROTECTIONS TO A PORTION OF THE PROPERTY. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VLT BOARD OF TRUSTEES AND THE VERMONT HOUSING AND CONSERVATION BOARD APPROVED THIS AMENDMENT. AMENDMENT: BUTLER J&B: THIS CORRECTIVE AMENDMENT FIXED AN ERROR IN THE PROPERTY LEGAL DESCRIPTION CONTAINED IN THE SCHEDULE A OF THE CONSERVATION EASEMENT, WHICH 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, THE BASELINE DOCUMENTATION REPORT AND THE CONSERVATION MAP, WHICH DEMONSTRATE THAT THERE WAS NO INTENTION TO CONSERVE SAID LAND. THE VLT BOARD OF TRUSTEES, THE VERMONT HOUSING AND CONSERVATION BOARD AND THE USDA ACTING THROUGH NRCS APPROVED THIS CORRECTIVE AMENDMENT. AMENDMENT: MARQUIS I: PURSUANT TO THE SECURE 2.0 ACT AND IRS NOTICE 2023-30 WHICH WAS INCLUDED IN THE INTERNAL REVENUE BULLETIN 2023-17, VLT, VERMONT HOUSING AND CONSERVATION BOARD AND THE LANDOWNER AMENDED THE ORIGINAL EASEMENT TO INCLUDE BOUNDARY LINE ADJUSTMENTS CLAUSE "SAFE HARBOR" LANGUAGE PUBLISHED BY THE IRS. AMENDMENT: STICKNEY: PURSUANT TO THE SECURE 2.0 ACT AND IRS NOTICE 2023-30 WHICH WAS INCLUDED IN THE INTERNAL REVENUE BULLETIN 2023-17, VLT, VERMONT HOUSING AND CONSERVATION BOARD AND THE LANDOWNER AMENDED THE ORIGINAL EASEMENT TO INCLUDE BOUNDARY LINE ADJUSTMENTS CLAUSE "SAFE HARBOR" LANGUAGE PUBLISHED BY THE IRS. AMENDMENT: MONTAGNE POINT FARM: PURSUANT TO THE SECURE 2.0 ACT AND IRS NOTICE 2023-30 WHICH WAS INCLUDED IN THE INTERNAL REVENUE BULLETIN 2023-17, VLT, VERMONT HOUSING AND CONSERVATION BOARD AND THE LANDOWNER AMENDED THE ORIGINAL EASEMENT TO INCLUDE BOUNDARY LINE ADJUSTMENTS CLAUSE "SAFE HARBOR" LANGUAGE PUBLISHED BY THE IRS. AMENDMENT: ROBISON: PURSUANT TO THE SECURE 2.0 ACT AND IRS NOTICE 2023-30 WHICH WAS INCLUDED IN THE INTERNAL REVENUE BULLETIN 2023-17, VLT, VERMONT HOUSING AND CONSERVATION BOARD AND THE LANDOWNER AMENDED THE ORIGINAL EASEMENT TO INCLUDE BOUNDARY LINE ADJUSTMENTS CLAUSE "SAFE HARBOR" LANGUAGE PUBLISHED BY THE IRS. AMENDMENT: LOCKER: PURSUANT TO THE SECURE 2.0 ACT AND IRS NOTICE 2023-30 WHICH WAS INCLUDED IN THE INTERNAL REVENUE BULLETIN 2023-17, VLT, VERMONT HOUSING AND CONSERVATION BOARD AND THE LANDOWNER AMENDED THE ORIGINAL EASEMENT TO INCLUDE BOUNDARY LINE ADJUSTMENTS CLAUSE "SAFE HARBOR" LANGUAGE PUBLISHED BY THE IRS. AMENDMENT: LAROCHE: THE PURPOSES OF THE LAROCHE 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. 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 LAROCHE FARM. AMENDMENT: METCALF: VLT TRANSFERRED ALL OF ITS RIGHTS AS A HOLDER UNDER THE GRANT OF DEVELOPMENT RIGHTS AND CONSERVATION RESTRICTIONS TO THE UPPER VALLEY LAND TRUST, INC., A PUBLICLY SUPPORTED NON-PROFIT CORPORATION AND A QUALIFIED CONSERVATION ORGANIZATION THAT AGREED TO ENFORCE THE CONSERVATION PURPOSES OF THE GRANT IN ACCORDANCE WITH THE REGULATIONS ESTABLISHED BY THE INTERNAL REVENUE SERVICE GOVERNING SUCH TRANSFERS. 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 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN NETS ASSETS HELD BY VCF 1,538,399. COST OF LAND SOLD 2,340,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF LAND SOLD 2,340,000. 1 BRIE GELINAS 320 ELCY LANE CHARLOTTE VT 05445 DESIGN AND EXECUTE A FY2025 CAMPAIGN TO RAISE $750,000. 0 3301 50864 -47563 ROBIN JEFFERS 499 BAY RD SHELBURN VT 05482 DESIGN AND EXECUTE A FY2025 CAMPAIGN TO RAISE $750,000. 0 0 56366 -56366 3301 107230 -103929 VT 1 ABENAKI HELPING ABENAKI INC 156 BACON DRIVE SHELBURNE VT 05482 841704125 7000 0 COTYLEDON FUND: ABENAKI GRANT FY21 ELNU ABENAKI INC 117 FULLER DRIVE BRATTLEBORO VT 05301 843882521 7000 0 COTYLEDON FUND: ABENAKI GRANT FY21 WOBANAKI INC 100 GRAND AVENUE SWANTON VT 05488 222483134 12000 0 COTYLEDON FUND: ABENAKI GRANT FY21 3 2023 LAND STEWARD AWARDS 10 5000 ERIC ROZENDAAL MEMORIAL AWARD 2022 2 10000 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 TRACY ZSCHAU PRESIDENT AND CEO 143186 0 0 0 0 0 3416 0 8439 0 155041 0 0 0 X 19 364274 FAIR MARKET VALUE X 8 0 ZERO VALUE X 1 102400 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 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 CONSULTANTS: PROGRAM SERVICE EXPENSES 308,166. MANAGEMENT AND GENERAL EXPENSES 153,170. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 461,336. CONTRACTORS: PROGRAM SERVICE EXPENSES 117,976. MANAGEMENT AND GENERAL EXPENSES 58,638. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 176,614. FARMER PAYMENTS: PROGRAM SERVICE EXPENSES 146,736. MANAGEMENT AND GENERAL EXPENSES 72,933. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 219,669. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 18,596. MANAGEMENT AND GENERAL EXPENSES 9,243. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,839. FORM 990, PART IX, LINE 24E CARBON OFFSET: PROGRAM SERVICE EXPENSES 177,452. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 177,452. CHARITABLE GIFT ANNUITY: PROGRAM SERVICE EXPENSES 129,631. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 129,631. GRANT MAKING EXPENSES: PROGRAM SERVICE EXPENSES 22,027. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,027. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 11,274. MANAGEMENT AND GENERAL EXPENSES 4,309. FUNDRAISING EXPENSES 2,751. TOTAL EXPENSES 18,334. BAD DEBT EXPENSE: PROGRAM SERVICE EXPENSES 14,472. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,472. LAND MANAGEMENT AND OPERATIONS: PROGRAM SERVICE EXPENSES 135. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 135. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NETS ASSETS HELD BY VCF 1,538,399. PART XII, LINE 2C THERE HAVE BEEN NO CHANGES TO THIS PROCESS. 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 231230 1832664 VERMONT LAND TRUST INC VERMONT FOREST CARBON LLC 8 BAILEY AVENUE MONTPELIER VT 05602 843465811 CARBON SEQUESTRATION VT 704322 9899 VERMONT LAND TRUST INC