2026-05-27T18:08:36-05:00 2025-12-31 333709623 COHNREZNICK ADVISORY LLC 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2025-01-01 222864907 THE WESTERLY LAND TRUST WEST 4013152610 PO BOX 601 WESTERLY RI 02891 NICHOLAS STAHL PRESIDENT 4013152610 2026-05-12 1 JOLANTA TUCK P01340068 9592007000 2026-05-11 2025 2025-03-06 01:10:19Z NICHOLAS STAHL PO BOX 601 WESTERLY RI 02891 1319724 0 X WESTERLYLANDTRUST.ORG X 1987 RI THE WESTERLY LAND TRUST CONSERVES OPEN SPACE, REVITALIZES CULTURALLY SIGNIFICANT PROPERTIES AND PROVIDES ENVIRONMENTAL PROGRAMS FOR THE ENDURING BENEFIT OF OUR COMMUNITY. 15 15 6 200 0 0 2302004 1253132 77700 30626 1499621 16504 3205 1256 3882530 1301518 0 0 0 0 437066 488548 0 0 118979 1518105 410102 1955171 898650 1927359 402868 7674596 8040792 2870151 2817609 4804445 5223183 X THE WESTERLY LAND TRUST CONSERVES OPEN SPACE, REVITALIZES CULTURALLY SIGNIFICANT PROPERTIES, AND PROVIDES ENVIRONMENTAL PROGRAMS FOR THE ENDURING BENEFIT OF OUR COMMUNITY. 0 0 94376 33456 THE WESTERLY LAND TRUST, A NOT-FOR-PROFIT CORPORATION, OPERATES THROUGHOUT WESTERLY TO CONSERVE SPACE AND ENHANCE COMMUNITY RESOURCES. SPECIFIC PROGRAMS INCLUDE THE PRESERVATION OF OPEN SPACE, REHABILITATION AND REDEVELOPMENT OF ESTABLISHED NEIGHBORHOODS, AND ESTABLISHMENT OF EDUCATION AND RECREATION OPPORTUNITIES FOR THE PUBLIC. THE TRUST'S PROGRAMS AND ACTIVITIES ARE DIRECTED TO THE PROTECTION AND ENHANCEMENT OF THE ENVIRONMENT, AGRICULTURE, AND WATER RESOURCES AS WELL AS THE COMMUNITY'S "SENSE OF PLACE." WESTERLY IS RECOGNIZED AS A PLACE WITH SPECIAL CHARM AND ATTRACTIONS WHICH ARE A SOURCE OF PRIDE TO ITS RESIDENTS AND A MAGNET FOR TOURISTS AND NEW RESIDENTS. THE TRUST AIMS TO PROTECT AND STRENGTHEN THAT REPUTATION. 394851 THE LAND TRUST CURRENTLY HOLDS 32 PROPERTIES TOTALING MORE THAN 1,900 ACRES. THE MOST RECENT ACQUISITIONS WERE CAMP QUEQUATUCK IN DECEMBER 2025. IN 2004, THE WESTERLY LAND TRUST EXPANDED ITS MISSION TO INCLUDE RE-DEVELOPMENT OF BLIGHTED COMMERCIAL PROPERTIES IN AREAS OF HISTORICAL SIGNIFICANCE IN DOWNTOWN WESTERLY. THE CONCEPT IS THAT SMART GROWTH WILL BENEFIT THE TOWN AND REDUCE DEVELOPMENT PRESSURE ON ENVIRONMENTALLY SENSITIVE AREAS. IN ADDITION TO THE HISTORIC UNITED THEATER, MONTGOMERY WARD, AND INDUSTRIAL TRUST BUILDINGS, THE LAND TRUST AND ITS PARTNERS OWN PROPERTIES BETWEEN MAIN STREET AND THE PAWCATUCK RIVER. AS PART OF WLT'S 2023 STRATEGIC PLANNING PROCESS, THE BOARD AND STAFF EXTENDED THE URBAN INITIATIVE TO INCLUDE MORE THAN JUST DOWNTOWN, WITH THE NEW GOAL READING: TO PROVIDE ACCESS TO NATURE FOR EVERYONE, WLT WILL CONTINUE TO STEWARD OUR CURRENT URBAN PROPERTIES AND WORK TO CONSERVE GREEN SPACES IN OTHER DEVELOPED AREAS OF WESTERLY. 158267 SINCE 2016, THE WESTERLY LAND TRUST HAS PRIORITIZED YOUTH ENVIRONMENTAL EDUCATION AS A CRITICAL OBJECTIVE. THIS CAME IN THE FORM OF FIELD TRIPS AND CLASSROOM SESSIONS, BUT COVID ALTERED THE TRAJECTORY AND OPENED MINDS TO THE IMPORTANCE OF OUTDOOR LEARNING. LIVING LABORATORIES CAME TO LIFE DURING THE PANDEMIC TO ENCOURAGE FAMILIES TO EXPERIENCE NATURE TOGETHER, AND THIS PROGRAM HAS BEEN GROWING AND EVOLVING EVER SINCE. TODAY LIVING LABORATORIES IS A MUCH NEEDED AFTER-SCHOOL AND SUMMER OPTION THAT COMBINES SOCIAL AND EMOTIONAL ELEMENTS AND ENVIRONMENTAL LITERACY. ALL YOUTH EDUCATION PROGRAMS ARE OFFERED FREE OF CHARGE TO STUDENTS AND FAMILIES. IN 2025 THE LAND TRUST BEGAN OFFERING TAILORED PROGRAMS FOR HOMESCHOOL GROUPS. WLT PRIORITIZES PARTNERSHIPS WITH OTHER LOCAL NON-PROFITS TO EXPAND OUR REACH AND OFFERINGS. 647494 1 1 0 0 0 0 1 0 0 0 1 0 1 0 0 1 1 0 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 0 0 0 0 1 16 0 1 6 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 COLLEEN SULLIVAN 4013152610 PO BOX 601 WESTERLY RI 02891 BILL MCKENDREE DIRECTOR 2.00 X 0 0 0 DAVE HANNON SECRETARY 2.00 X X 0 0 0 DAVID RATHBUN DIRECTOR 2.00 X 0 0 0 DEIRDRE O'CONNOR DIRECTOR 2.00 X 0 0 0 GAIL MALLARD VICE PRESIDENT FOR ACQUISI 4.00 X X 0 0 0 GERRY GORMAN TREASURER 4.00 X X 0 0 0 JEFFREY WALKER DIRECTOR 2.00 X 0 0 0 JENNIFER BRINTON DIRECTOR 2.00 X 0 0 0 JOSEPH MICELI DIRECTOR 2.00 X 0 0 0 KATE SMITH DIRECTOR 2.00 X 0 0 0 LINDA GRIFFIN VICE PRESIDENT 4.00 X X 0 0 0 NICHOLAS J STAHL PRESIDENT 6.00 X X 0 0 0 POLLY CHORLTON DIRECTOR 2.00 X 0 0 0 STEPHANIE RAIA DIRECTOR 2.00 X 0 0 0 STEVE RUZZO DIRECTOR 2.00 X 0 0 0 JENNIFER FUSCO EXECUTIVE DIRECTOR 48.00 X 148853 0 4016 148853 0 4016 1 0 1 0 0 63792 25318 92819 1071203 97601 1253132 PROGRAM RENTAL INCOME 531390 30626 30626 30626 16504 16504 16632 25318 18206 -1574 -1574 2830 2830 2830 1301518 33456 0 14930 163577 98081 31033 34463 263706 159959 50783 52964 16010 8471 2574 4965 11672 6176 1877 3619 33583 17768 5401 10414 1619 1619 33716 21688 12028 9571 7186 2385 3838 135 1296 2407 16630 5213 8098 3319 10249 3345 2499 4405 24691 19794 4897 3432 3432 56695 56695 51120 47356 3764 IMPAIRMENT OF ASSETS 152289 152289 PROGRAM EXPENSES 9533 9533 DUES & SUBSCRIPTION 7628 6397 676 555 REPAIRS & MAINTENANCE 7466 2700 4766 21625 19657 100 1868 898650 647494 132177 118979 149744 261532 516669 785439 94340 6427 11668 11853 6062477 432112 5562583 5630365 121564 127148 1218028 1218028 7674596 8040792 74854 30328 40025 32009 2755272 2755272 2870151 2817609 X 4722372 5046089 82073 177094 4804445 5223183 7674596 8040792 402868 15870 0 X 0 1 X 1 0 X 773085 910305 730707 2302004 1253132 5969233 773085 910305 730707 2302004 1253132 5969233 998715 4970518 258 240 18787 19671 16504 55460 47163 3205 2830 53198 6077891 404792 0.81780 0.80240 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2024 AMOUNT: $ 3,205. 2025 AMOUNT: $ 2,830. FORGIVENESS OF DEBT - 2023 AMOUNT: $ 47,163. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 2 30.80 0 0 0 1 1 20.00 600 1 40025 172826 140817 72034 1 X 4257043 4257043 937216 270710 666506 868218 161402 706816 5630365 INVESTMENTS IN LIMITED LIABILITY COMPANIES 1218028 C 1218028 X 1314956 15870 15870 1299086 2432 2432 1301518 896218 0 896218 2432 2432 898650 PART II, LINE 9: CONSERVATION EASEMENTS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS EITHER AS ASSETS OR LIABILITIES. CONSERVATION EASEMENTS GENERALLY PROVIDE THAT A PROPERTY WILL BE MAINTAINED IN ITS CURRENT NATURAL, AGRICULTURAL, SCENIC, OR RECREATIONAL STATE. CONSERVATION EASEMENTS PLACED ON LAND OWNED BY THE ORGANIZATION IMPAIR THE VALUE OF THE LAND. ACCORDINGLY, THE LOSS OF VALUE (ESTIMATED TO BE 85% OF FAIR VALUE ON THE DATE OF THE EASEMENT) IS SHOWN AS A REDUCTION OF NET ASSETS ON THE STATEMENTS OF ACTIVITIES. PART IV, LINE 2B: THE ORGANIZATION RECEIVES FUNDS ON BEHALF OF THE WOOD-PAWCATUCK WILD AND SCENIC RIVERS STEWARDSHIP COUNCIL (THE "COUNCIL"), PROVIDES ADMINISTRATIVE SERVICES, AND ACTS AS AN AGENT ORGANIZATION. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2025 AND 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2022 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE FOUNDATION HAS UNRELATED BUSINESS INCOME TAXES, IT WILL RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 2,432. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 2,432. PART II, LINE 5: THE ORGANIZATION'S WRITTEN POLICY REGARDING THE PERIODIC MONITORING, INSPECTION, VIOLATIONS AND ENFORCEMENT OF THE CONSERVATION EASEMENTS IT HOLDS IS SUMMARIZED AS FOLLOWS. TRAINED MONITORS ANNUALLY CONDUCT A WALKING INSPECTION OF ALL OF THE ORGANIZATION'S CONSERVATION EASEMENTS ACCORDING TO BOARD APPROVED POLICIES AND PROCEDURES, COMPARING CURRENT CONDITIONS TO DOCUMENTED BASELINE PHOTOGRAPHS, PREVIOUS YEAR'S INSPECTION REPORT, AND CONSERVATION EASEMENT DOCUMENT. POTENTIAL VIOLATIONS ARE REPORTED TO THE STEWARDSHIP CHAIR AND BOARD OFFICERS, AND, IF NECESSARY, DISCUSSED WITH LEGAL COUNSEL. A BOARD APPROVED VIOLATION AND RESOLUTION POLICY AND PROCEDURE IS FOLLOWED, WHICH DELINEATES CATEGORIES OF VIOLATIONS, LANDOWNER CONTACT AND RESOLUTION PROCEDURES. TO DATE THERE HAVE BEEN NO MAJOR VIOLATIONS. PART II, LINE 9: CONSERVATION EASEMENTS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS EITHER AS ASSETS OR LIABILITIES. THE ACQUISITION COSTS AND OTHER COSTS ASSOCIATED WITH CONSERVATION EASEMENTS (TITLE INSURANCE, LEGAL FEES, APPRAISALS, SURVEYS, ETC.) ARE EXPENSED IN THE PERIOD INCURRED. FARM DINNER 41950 25318 16632 12282 4700 200 1024 41950 25318 16632 12282 4700 200 1024 18206 -1574 0 0 0 0 0 0 0 1 0 JENNIFER FUSCO EXECUTIVE DIRECTOR 138853 0 10000 0 0 0 4016 0 0 0 152869 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR RECEIVED A BOARD APPROVED BONUS FOR CALENDAR YEAR 2024 WHICH IS REPORTED IN HER W2. SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR WESTERLY PROPERTIES FUNDING X 601362 1071407 0 1 1 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR WESTERLY PROPERTIES FUNDING X 310200 391515 0 1 1 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR WESTERLY PROPERTIES FUNDING X 1292350 1292350 0 1 1 2755272 X 2 97601 FMV 1 0 1 0 PART I, COLUMN (B): AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP SHALL BE OPEN TO ANY INDIVIDUAL WHO: (I)SUBSCRIBES TO THE PURPOSES OF THE CORPORATION AND AGREES TO ABIDE BY ITS PURPOSES; AND (II) HAS PAID CURRENT ANNUAL DUES AS ESTABLISHED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER SHALL BE ENTITLED TO VOTE FOR THE ELECTION OF THE BOARD OF DIRECTORS OR THE REMOVAL OF DIRECTORS AND EACH MEMBER SHALL BE ENTITLED TO ONE VOTE IF PRESENT. NO MEMBER SHALL BE ELIGIBLE TO VOTE ON ANY OTHER MATTER WITH REGARD TO THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B WESTERLY LAND TRUST HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE FINANCE COMMITTEE AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD FOR APPROVAL. ONCE THE BOARD HAS APPROVED THE RETURN IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF DIRECTORS ANNUALLY SHALL SIGN A STATEMENT THAT AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE POLICY, READ AND UNDERSTANDS THE POLICY, AND AGREED TO COMPLY WITH THE POLICY. THE EXECUTIVE DIRECTOR REGULARLY MONITORS THE ORGANIZATION'S RELATIONSHIPS. THE PRESIDENT AND ALL DIRECTORS ARE RESPONSIBLE FOR RAISING CONFLICT OF INTEREST ISSUES AS THEY ARISE. AN INTERESTED PERSON OR A PERSON REPRESENTING AN INTERESTED ENTITY MAY MAKE A PRESENTATION TO THE BOARD OF DIRECTORS, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING DISCUSSION OF AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE BOARD OF DIRECTORS SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER THE PRESENTATION AND DUE DILIGENCE, THE BOARD OF DIRECTORS SHALL DETERMINE BY A MAJORITY VOTE OF A QUORUM OF ALL THE DISINTERESTED BOARD MEMBERS WHETHER THE TRANSACTIONS OR ARRANGEMENT IS IN THE WLT'S BEST INTEREST, FOR ITS OWN BENEFITS. WHETHER IT IS FAIR AND REASONABLE, AND WHETHER IT CONFORMS TO THE LETTER AND SPIRIT OF THE STATEMENT. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO, MODIFY, OR DECLINE THE TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD APPROVES THE EXECUTIVE DIRECTOR'S SALARY AFTER TAKING INTO ACCOUNT COMPENSATION FOR SIMILAR POSITIONS IN OTHER ORGANIZATIONS, THE EXECUTIVE DIRECTOR'S EXPERIENCE AND WHAT THE ORGANIZATION CAN SUSTAIN FINANCIALLY. A COMPENSATION REVIEW FOR THE EXECUTIVE DIRECTOR TAKES PLACE ON AN ANNUAL BASIS. THE APPROVAL IS DOCUMENTED IN THE ORGANIZATION'S BOARD MINUTES AND WAS LAST APPROVED IN 2020. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.