﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2012v2.3">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-10-09T08:10:09-05:00</Timestamp>
    <TaxPeriodEndDate>2012-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>LAUREN JARVI EA CFP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>1221 RABBIT PLAIN</AddressLine1>
        <City>ST JOHNSBURY</City>
        <State>VT</State>
        <ZIPCode>058199393</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2012-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>030340587</EIN>
      <Name>
        <BusinessNameLine1>PASSUMSPIC VALLEY LAND TRUST</BusinessNameLine1>
      </Name>
      <NameControl>PASS</NameControl>
      <Phone>8027488080</Phone>
      <USAddress>
        <AddressLine1>PO BOX 64</AddressLine1>
        <City>SAINT JOHNSBURY</City>
        <State>VT</State>
        <ZIPCode>05819</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>LEONARD GERARDI</Name>
      <Title>TREASURER</Title>
      <Phone>8027488080</Phone>
      <DateSigned>2013-10-08</DateSigned>
      <AuthorizeThirdParty>false</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>LAUREN JARVI</Name>
      <Phone>8027488928</Phone>
      <DatePrepared>2013-10-09</DatePrepared>
      <SelfEmployed>X</SelfEmployed>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="7">
    <IRS990 documentId="RetDoc4" referenceDocumentId="RetDoc7">
      <NameOfPrincipalOfficerPerson>LEONARD GERARDI</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>1221 RABBIT PLAIN</AddressLine1>
        <City>SAINT JOHNSBURY</City>
        <State>VT</State>
        <ZIPCode>05819</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>24551</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <WebSite>WWW.PVLT.ORG</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1993</YearFormation>
      <StateLegalDomicile>VT</StateLegalDomicile>
      <ActivityOrMissionDescription>OUR MISSION IS TO PROTECT WATER QUALITY, ECOLOGICAL INTEGRITY, WILDLIFE HABITAT AND RECREATIONAL ACCESS BY ACQUIRING AND MANAGING FEE LANDS AND CONSERVATION EASEMENTS</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>6</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>6</NbrIndependentVotingMembers>
      <TotalNbrEmployees>0</TotalNbrEmployees>
      <TotalNbrVolunteers>10</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <ContributionsGrantsPriorYear>4911</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>24151</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenueCY>0</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>923</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>400</InvestmentIncomeCurrentYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>5834</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>24551</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsCY>35000</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcCurrentYear>0</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensesCurrentYear>23178</OtherExpensesCurrentYear>
      <TotalExpensesCurrentYear>58178</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>5834</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>-33627</RevenuesLessExpensesCY>
      <TotalAssetsBOY>363925</TotalAssetsBOY>
      <TotalAssetsEOY>331619</TotalAssetsEOY>
      <TotalLiabilitiesEOY>0</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>363925</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>331619</NetAssetsOrFundBalancesEOY>
      <MissionDescription>OUR MISSION IS TO PROTECT WATER QUALITY, ECOLOGICAL INTEGRITY, WILDLIFE HABITAT AND RECREATIONAL ACCESS BY ACQUIRING AND MANAGING FEE LANDS AND CONSERVATION EASEMENTS</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>58178</Expense>
      <Grants>35000</Grants>
      <Revenue>24551</Revenue>
      <Description>PVLT IS PROTECTING WATER QUALITY, ECOLOGICAL INTEGRITY, WILDLIFE HABITAT AND RECREATION ACCESS TO WATERS IN THE PASSUMPSIC WATERSHED FOR THE PUBLIC BY ACQUIRING AND CONSERVING KEY PROPERTIES. ONE PARTICULAR INITIATIVE IS WORK SUPPORTED BY STATE AND FEDERAL AGENCIES TO REMOVE A DAM PVLT OWNS, IN THE INTEREST OF RIVER RESOTRATION. PVLT HAS ABOUT 150 MEMBERS,</Description>
      <TotalProgramServiceExpense>58178</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="RetDoc2">true</DescribedIn501C3>
      <ScheduleBRequired referenceDocumentId="RetDoc1">true</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <SubjectToProxyTax>false</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="RetDoc3">false</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="RetDoc3">true</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="RetDoc3">false</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="RetDoc3">false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="RetDoc3">false</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="RetDoc3">true</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="RetDoc3">false</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="RetDoc3">false</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="RetDoc3">false</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="RetDoc3">false</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="RetDoc3">false</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="RetDoc3">false</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="RetDoc3">false</ConsolidatedAuditFinancialStmt>
      <School>false</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities>false</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations referenceDocumentId="RetDoc5">true</GrantsToOrganizations>
      <GrantsToIndividuals referenceDocumentId="RetDoc5">false</GrantsToIndividuals>
      <ScheduleJRequired>false</ScheduleJRequired>
      <TaxExemptBonds>false</TaxExemptBonds>
      <ExcessBenefitTransaction>false</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>false</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP>false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions referenceDocumentId="RetDoc6">false</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt referenceDocumentId="RetDoc6">true</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity>false</DisregardedEntity>
      <RelatedEntity>false</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransfersToExemptNonChrtblOrg>false</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>1</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <NumberOfEmployees>0</NumberOfEmployees>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <IndoorTanningServices>false</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>6</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>6</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>false</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>true</MembersOrStockholders>
      <ElectionOfBoardMembers>true</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>true</MinutesOfGoverningBody>
      <MinutesOfCommittees>true</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <Form990ProvidedToGoverningBody>true</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>false</ConflictOfInterestPolicy>
      <WhistleblowerPolicy>false</WhistleblowerPolicy>
      <DocumentRetentionPolicy>false</DocumentRetentionPolicy>
      <CompensationProcessCEO>false</CompensationProcessCEO>
      <CompensationProcessOther>false</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>LEONARD GERARDI</NamePerson>
        <TelephoneNumber>8027488080</TelephoneNumber>
        <AddressUS>
          <AddressLine1>1221 RABBIT PLAIN</AddressLine1>
          <City>SAINT JOHNSBURY</City>
          <State>VT</State>
          <ZIPCode>05819</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <NoListedPersonsCompensated>X</NoListedPersonsCompensated>
      <Form990PartVIISectionA>
        <NamePerson>ALAN BOYE</NamePerson>
        <Title>PRESIDENT</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KELLIE MERRELL</NamePerson>
        <Title>VICE-PRESIDE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PATRICIA SWARTZ</NamePerson>
        <Title>SECRETARY</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>LENNY GERARDI</NamePerson>
        <Title>TREASURER</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JAY ABRAMSON</NamePerson>
        <Title>BOARD MEMBER</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>LEILA NORDMANN</NamePerson>
        <Title>BOARD MEMBER</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>false</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <MembershipDues>5116</MembershipDues>
      <AllOtherContributions>19035</AllOtherContributions>
      <NoncashContributions>19035</NoncashContributions>
      <TotalContributions>24151</TotalContributions>
      <InvestmentIncome>
        <TotalRevenueColumn>400</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>400</RelatedOrExemptFunctionIncome>
      </InvestmentIncome>
      <TotalRevenue>
        <TotalRevenueColumn>24551</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>400</RelatedOrExemptFunctionIncome>
      </TotalRevenue>
      <InfoInScheduleOPartIX>X</InfoInScheduleOPartIX>
      <GrantsToDomesticOrgs>
        <Total>35000</Total>
        <ProgramServices>35000</ProgramServices>
      </GrantsToDomesticOrgs>
      <FeesForServicesOther>
        <Total>18000</Total>
        <ProgramServices>18000</ProgramServices>
      </FeesForServicesOther>
      <OfficeExpenses>
        <Total>1535</Total>
        <ProgramServices>1535</ProgramServices>
      </OfficeExpenses>
      <Insurance>
        <Total>2097</Total>
        <ProgramServices>2097</ProgramServices>
      </Insurance>
      <OtherExpenses>
        <Description>REAL ESTATE TAXES</Description>
        <Total>1219</Total>
        <ProgramServices>1219</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>DUES &amp; SUBSCRIPTIONS</Description>
        <Total>250</Total>
        <ProgramServices>250</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>SUPPLIES</Description>
        <Total>66</Total>
        <ProgramServices>66</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BANK SERVICE CHARGES</Description>
        <Total>11</Total>
        <ProgramServices>11</ProgramServices>
      </OtherExpenses>
      <TotalFunctionalExpenses>
        <Total>58178</Total>
        <ProgramServices>58178</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>1541</BOY>
        <EOY>16628</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>101845</BOY>
        <EOY>32032</EOY>
      </SavingsAndTempCashInvestments>
      <LandBuildingsEquipmentBasis>247792</LandBuildingsEquipmentBasis>
      <LandBuildingsEquipmentBasisNet>
        <BOY>245648</BOY>
        <EOY>247792</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <EOY>18955</EOY>
      </InvestmentsPubTradedSecurities>
      <OtherAssetsTotal>
        <BOY>14891</BOY>
        <EOY>16212</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>363925</BOY>
        <EOY>331619</EOY>
      </TotalAssets>
      <TotalLiabilities>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </TotalLiabilities>
      <DoNotFollowSFAS117>X</DoNotFollowSFAS117>
      <RetainedEarningsEndowmentEtc>
        <BOY>363925</BOY>
        <EOY>331619</EOY>
      </RetainedEarningsEndowmentEtc>
      <TotalNetAssetsFundBalances>
        <BOY>363925</BOY>
        <EOY>331619</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>363925</BOY>
        <EOY>331619</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>-33627</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>1321</ReconcilationOtherChanges>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>false</FSAudited>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc2">
      <PubliclySupportedOrg509a2>X</PubliclySupportedOrg509a2>
      <GiftsGrantsContribReceived509>
        <CurrentTaxYearMinus4Years>83010</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>64582</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>6080</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>4911</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>24151</CurrentTaxYear>
        <Total>182734</Total>
      </GiftsGrantsContribReceived509>
      <Total509>
        <CurrentTaxYearMinus4Years>83010</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>64582</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>6080</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>4911</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>24151</CurrentTaxYear>
        <Total>182734</Total>
      </Total509>
      <PublicSupportTotal509>182734</PublicSupportTotal509>
      <GrossInvestmentIncome509>
        <CurrentTaxYearMinus4Years>2406</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>1188</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>1090</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>923</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>400</CurrentTaxYear>
        <Total>6007</Total>
      </GrossInvestmentIncome509>
      <InvestmentIncomeAndUBTI>
        <CurrentTaxYearMinus4Years>2406</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>1188</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>1090</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>923</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>400</CurrentTaxYear>
        <Total>6007</Total>
      </InvestmentIncomeAndUBTI>
      <OtherIncome509>
        <CurrentTaxYearMinus4Years>3344</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>1802</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>15490</CurrentTaxYearMinus2Years>
        <Total>20636</Total>
      </OtherIncome509>
      <TotalSupportTotal>
        <CurrentTaxYearMinus4Years>88760</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>67572</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>22660</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>5834</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>24551</CurrentTaxYear>
        <Total>209377</Total>
      </TotalSupportTotal>
      <PublicSupportPercentage509>0.87280</PublicSupportPercentage509>
      <PriorYearSupportPercentage>0.82860</PriorYearSupportPercentage>
      <InvestmentIncomePercentage>0.03000</InvestmentIncomePercentage>
      <PriorYrInvestIncomePercentage>0.07000</PriorYrInvestIncomePercentage>
      <ThirtyThreePercntTestsCY509>X</ThirtyThreePercntTestsCY509>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc3">
      <PreservationForPublicUse>X</PreservationForPublicUse>
      <ProtectionOfNaturalHabitat>X</ProtectionOfNaturalHabitat>
      <PreservationOfOpenSpace>X</PreservationOfOpenSpace>
      <TotalNumberOfEasements>6</TotalNumberOfEasements>
      <TotalAcreage>90</TotalAcreage>
      <NmbrHistStructEasementsAfter>3</NmbrHistStructEasementsAfter>
      <NmbrStatesInWhichEasementsHeld>1</NmbrStatesInWhichEasementsHeld>
      <WrittenPolicyMonitoring>true</WrittenPolicyMonitoring>
      <StaffHoursSpentOnEnforcement>20</StaffHoursSpentOnEnforcement>
      <Sect170hRequirementsSatisfied>false</Sect170hRequirementsSatisfied>
      <Land>
        <InvestmentCostOrOtherBasis>247792</InvestmentCostOrOtherBasis>
        <BookValue>247792</BookValue>
      </Land>
      <TotalOfBookValueLandBuildings>247792</TotalOfBookValueLandBuildings>
      <Form990ScheduleDPartXIII>
        <Identifier>ACCOUNTING FOR CONSERVATION EASEMENTS</Identifier>
        <ReturnReference>SCHEDULE D, PAGE 1, PART II, LINE 9</ReturnReference>
        <Explanation>CONSERVATION EASEMENTS NOT PURSUANT TO ASSETS ARE NOT REFLECTED ON OUR BALANCE SHEET. THEY HAVE BEEN DONATED TO OR RETAINED BY US. WE HAVE NOT RECORDED ANY VALUE FOR THEM ON OUR BALANCE SHEET.</Explanation>
      </Form990ScheduleDPartXIII>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc5">
      <RecordsMaintained>true</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>VERMONT LAND TRUST</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>8 BAILEY AVENUE</AddressLine1>
          <City>MONTPELIER</City>
          <State>VT</State>
          <ZIPCode>05602</ZIPCode>
        </AddressUS>
        <EINOfRecipient>030264836</EINOfRecipient>
        <AmountOfCashGrant>20000</AmountOfCashGrant>
        <PurposeOfGrant>EASEMENT PURCHASE</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>TOWN OF LYNDON</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>119 PARK AVENUE</AddressLine1>
          <City>LYNDONVILLE</City>
          <State>VT</State>
          <ZIPCode>05851</ZIPCode>
        </AddressUS>
        <EINOfRecipient>036000548</EINOfRecipient>
        <AmountOfCashGrant>15000</AmountOfCashGrant>
        <PurposeOfGrant>RESIDENCE DEMOLITION</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>1</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>1</TotalNbrOfOtherOrganizations>
    </IRS990ScheduleI>
    <IRS990ScheduleM documentId="RetDoc6">
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>19035</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>PUBLICLY TRADED</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <QualifiedContribOther>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <MethodOfDeterminingRevenues>NO VALUE ASSIGNED</MethodOfDeterminingRevenues>
      </QualifiedContribOther>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>false</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>false</ThirdPartiesUsed>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc7">
      <GeneralExplanation>
        <Identifier>CLASSES OF MEMBERS OR STOCKHOLDERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 6</ReturnReference>
        <Explanation>WE ARE A MEMBERSHIP BASED ORGANIZATION</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ELECTION OF MEMBERS AND THEIR RIGHTS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 7A</ReturnReference>
        <Explanation>ANNUAL ELECTIONS ARE HELD WHEN BOARD OF DIRECTOR POSITIONS ARE FILLED</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>BOARD IS PROVIDED A COPY OF THE RETURN FOR REVIEW PRIOR TO FILING</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>AVAILABLE UPON REQUEST</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER FEES FOR SERVICES</Identifier>
        <ReturnReference>FORM 990, PART IX, LINE 11G</ReturnReference>
        <Explanation>CONTRACT LABOR 18,000 0 0</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER CHANGES IN NET ASSETS EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 9</ReturnReference>
        <Explanation>UNREALIZED GAIN ON INVESTMENTS 1,151 REALIZED GAIN ON INVESTEMENTS 170</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>