2025-11-13T11:43:09-06:00 2024-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2024-01-01 042373794 NANTUCKET CONSERVATION FOUNDATION INC NANT 5082282884 PO BOX 13 NANTUCKET MA 02554 CORMAC COLLIER PRESIDENT & CEO 5082282884 2025-11-13 1 0 BARBARA E KING P00005629 5087557107 2025-11-12 2024 2025-03-06 01:10:19Z CORMAC COLLIER PO BOX 13 118 CLIFF ROAD NANTUCKET MA 02554 24129047 0 X WWW.NANTUCKETCONSERVATION.ORG X 1963 MA LAND CONSERVATION IN NANTUCKET, MASSACHUSETTS 25 24 32 25 0 0 13428043 16344629 182696 139681 2403815 1290787 167835 -238070 16182389 17537027 0 0 0 0 2040106 2490271 0 0 826741 2214507 3845344 4254613 6335615 11927776 11201412 165497244 178363699 914142 792747 164583102 177570952 X THE NANTUCKET CONSERVATION FOUNDATION OWNS, PROTECTS, AND STEWARDS OVER 9,000 ACRES OF LAND AND COASTAL SHORELINE, CONSERVES NANTUCKET'S RARE AND SIGNIFICANT NATURAL RESOURCES, AND ENGAGES IN IMPACTFUL ECOLOGICAL RESEARCH TO INFORM RESOURCE MANAGEMENT AND FURTHER OUR KNOWLEDGE OF NANTUCKET'S UNIQUE ECOSYSTEMS AND SPECIES. WE SHARE OUR ENVIRONMENTAL EXPERTISE WITH THE WIDER COMMUNITY AND PROVIDE EDUCATIONAL AND RECREATIONAL OPPORTUNITIES TO ENCOURAGE RESPECTFUL ENJOYMENT AND APPRECIATION OF OUR PROPERTIES. 0 0 1917600 161931 LAND MANAGEMENT: MAINTAINING OVER 9,000 ACRES OF OPEN SPACE, TRAILS SYSTEMS AND BEACHES FOR VISITORS TO ENJOY. 2527103 SCIENCE AND STEWARDSHIP: DEVELOPING AND IMPLEMENTING RESOURCE INVENTORY PLANS FOR ALL NCF PROPERTIES. 4444703 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 0 1 0 0 0 1 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 22 0 1 32 1 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X KORILYNN ADAMS 5082282884 PO BOX 13 118 CLIFF ROAD NANTUCKET MA 02254 ANDE GRENNAN TRUSTEE 1.00 X 0 0 0 JOHN G MACFARLANE III CHAIR 1.00 X X 0 0 0 CHARLES K GIFFORD JR TREASURER 1.00 X X 0 0 0 MARIANNE R STANTON CLERK 1.00 X X 0 0 0 LUCINDA YOUNG TRUSTEE 1.00 X 0 0 0 TODD M KNUTSON VICE CHAIR 1.00 X X 0 0 0 COLBY CRENSHAW TRUSTEE 1.00 X 0 0 0 DAVID A CHAMPOUX TRUSTEE 1.00 X 0 0 0 KATIE KEITH TRUSTEE 1.00 X 0 0 0 SHERWOOD NEWELL TRUSTEE 1.00 X 0 0 0 KAREN GRIP TRUSTEE 1.00 X 0 0 0 DR DIANE PEARL TRUSTEE 1.00 X 0 0 0 ANN B OLIVER TRUSTEE 1.00 X 0 0 0 DAVID RATTNER TRUSTEE 1.00 X 0 0 0 MARY WEST TRUSTEE 1.00 X 0 0 0 DR GEOFFREY C TRUSSELL TRUSTEE 1.00 X 0 0 0 PATRICK S WAYLAND TRUSTEE 1.00 X 0 0 0 LINDSEY GUND TRUSTEE 1.00 X 0 0 0 STEPHEN BARTRAM TRUSTEE 1.00 X 0 0 0 RICK ULMER TRUSTEE 1.00 X 0 0 0 LAURA HANSON TRUSTEE 1.00 X 0 0 0 DAPHNE MITCHELL TRUSTEE 1.00 X 0 0 0 JAMES MEEHAN SECRETARY 1.00 X X 0 0 0 JENNY MATTHEWS TRUSTEE 1.00 X 0 0 0 PATRICK HEHIR TRUSTEE 1.00 X 0 0 0 CORMAC COLLIER PRESIDENT AND CEO 40.00 X 250893 0 31845 KAREN C BEATTIE VICE PRES. SCIENCE & STEWA 40.00 X 163167 0 37608 DONALD MACK LAND MANAGEMENT 40.00 X 102117 0 15847 JENNIFER KARBERG DIRECTOR RESEARCH & PARTNE 40.00 X 130980 0 37280 RICHARD MACK PROPERTIES MANAGER 40.00 X 105932 0 27720 NICHOLAS J LARRABEE DIRECTOR LAND MANAGEMENT 40.00 X 110904 0 16542 863993 0 166842 6 0 1 0 SUMCO ECO 2 CENTENNIAL DRIVE PEABODY MA 01960 ECOLOGICAL RESTORATION 1288393 GILBERT HOLDGATE DRILLING 8 ROSE BUD LANE NANTUCKET MA 02554 ECOLOGICAL RESTORATION 176000 FUSS & O'NEILL INC 115 BROAD STREET BOSTON MA 02110 GRANT WRITING 122093 3 491051 15853578 1809442 16344629 WAUWINET GATEHOUSE 111000 120000 120000 PRODUCT SALES 111000 12233 12233 CRANBERRY REVENUE 111000 7448 7448 139681 626378 626378 20200 0 20200 20200 20200 6916559 19250 6271400 0 645159 19250 664409 19250 645159 59350 491051 320620 -261270 -261270 ACKTRAILS 900099 3000 3000 3000 17537027 161931 0 1030467 250896 150538 50179 50179 1750758 1205432 182712 362614 57098 47898 9200 282932 179332 54376 49224 148587 105743 13259 29585 14928 14928 70425 70425 176992 176992 437293 261494 106562 69237 73266 1800 71154 312 411277 87054 69810 254413 128737 71673 57064 119458 28963 79318 11177 351923 295615 56308 161088 141319 19769 MAINTENANCE AND REPAIRS 1850389 1840052 10337 EVENTS 27655 12355 15300 CRANBERRY EXPENSES 15435 15435 MISC. 6478 6478 6335615 4444703 1064171 826741 1074572 725788 3505876 8423209 40586 488168 466742 466742 42527 48261 136037089 3239678 130554637 132797411 12139459 19063738 17672845 16350382 165497244 178363699 303679 357787 500000 334173 110463 100787 914142 792747 X 147469407 153846447 17113695 23724505 164583102 177570952 165497244 178363699 11201412 1786438 0 X 0 1 X 1 0 X 3976723 12127346 6661712 6970534 16403979 46140294 3976723 12127346 6661712 6970534 16403979 46140294 10726103 35414191 339586 457471 840117 838802 1291738 3767714 49908008 0.70960 0.62350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 3 215.70 1 1 45.00 15265177 8849 1147672 349022 16072676 14201032 14915 1267240 218010 15265177 14788302 539838 -762952 364156 14201032 13745317 1365221 322236 14788302 17576989 1198165 5029837 13745317 0.31730 0.68270 0 0 128237543 128237543 3892095 1875135 2016960 2103173 1364543 738630 1804278 1804278 132797411 OTHER INVESTMENTS 16350382 F 16350382 ANNUITY PAYABLE 6761 POST EMPLOYMENT BENEFIT PAYABLE 94026 100787 19467093 1786438 320620 2107058 17360035 176992 176992 17537027 6479243 320620 320620 6158623 176992 176992 6335615 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR-RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES AS WELL AS FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE FOUNDATION CLASSIFIES AS NON-EXPENDABLE DONOR-RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED AS NON-EXPENDABLE NET ASSETS IS CLASSIFIED AS EXPENDABLE NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE FOUNDATION IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. THE FOUNDATION MANAGES ITS ENDOWMENT CONSISTENT WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT ("UPMIFA"). IN ACCORDANCE WITH UPMIFA, THE FOUNDATION MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE FOUNDATION AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE FOUNDATION; AND THE INVESTMENT POLICIES OF THE FOUNDATION. RETURN OBJECTIVES AND RISK PARAMETER THE FOUNDATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR RESTRICTED FUNDS THAT THE FOUNDATION MUST HOLD IN PERPETUITY OR FOR A DONOR SPECIFIED PERIOD AS WELL AS BOARD DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE A 4.5% REAL RETURN ON INVESTED CAPITAL WHILE ASSUMING A CONSERVATIVE LEVEL OF INVESTMENT RISK. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. STRATEGIES EMPLOYED FOR ACHIEVING OBJECTS TO SATISFY ITS LONG- TERM RATE-OF-RETURN OBJECTIVES, THE FOUNDATION RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE FOUNDATION TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. SPENDING POLICY AND HOW THE INVESTMENT OBJECTIVES RELATE TO SPENDING POLICY THE FOUNDATION HAS A POLICY OF APPROPRIATING FOR SPENDING EACH YEAR 4.5% OF ITS ENDOWMENT FUNDS' AVERAGE FAIR VALUE OVER THE MOST RECENT PRIOR 12 CALENDAR QUARTERS PRECEDING THE FISCAL YEAR IN WHICH THE DRAW IS PLANNED. ANY EXPENDITURES FROM THE ENDOWMENT ASSETS MUST BE SUPPORTED BY THE FINANCE AND INVESTMENT COMMITTEES AND BE CONSISTENT WITH THE INTENT OF THE RELEVANT DONOR FOR THAT FUND. THIS IS CONSISTENT WITH THE FOUNDATION'S OBJECTIVE TO ENSURE THAT THE FUTURE GROWTH OF THE ENDOWMENT ASSETS IS SUFFICIENT TO OFFSET NORMAL INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE ENDOWMENT ASSETS HELD FOR FUTURE GENERATIONS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. BOARD DESIGNATED FUNDS WITHOUT DONOR RESTRICTIONS FOR OPERATIONS AND LAND PURCHASES ARE SUPPORTED BY INVESTMENT GAINS, DIVIDENDS AND INTEREST AS WELL AS DIRECT SOURCES OF OPERATING RECEIPTS. FUNDS WITH DONOR RESTRICTIONS THAT ARE PERPETUAL IN NATURE ARE DRIVEN BY DONOR INTENT AND ARE ADMINISTRATED TO HAVE NET GAINS DERIVED IN A CONSERVATIVE MANNER AND EXCEED NET DISBURSED FUNDS OVER TIME. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR-IMPOSED RESTRICTIONS REQUIRE THE FOUNDATION TO RETAIN AS A FUND OF PERPETUAL DURATION. THERE WERE NO SUCH DEFICIENCIES AS OF DECEMBER 31, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 320,620. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 320,620. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 2277378 EUROPE INVESTMENTS 1137303 0 0 0 0 0 0 3414681 0 3414681 1 0 0 1 1 0 RUN FOR OUR SHORES 92337 92337 30044 SUNSET AT SANFORD 425350 366000 59350 224188 49433 1 32714 32714 16955 550401 491051 59350 224188 96432 320620 -261270 X 0 0 0 0 0 0 0 0 0 CORMAC COLLIER PRESIDENT AND CEO 250893 0 0 0 0 0 9200 0 22645 0 282738 0 0 0 KAREN C BEATTIE VICE PRES. SCIENCE & STEWA 163167 0 0 0 0 0 6163 0 31445 0 200775 0 0 0 JENNIFER KARBERG DIRECTOR RESEARCH & PARTNE 130980 0 0 0 0 0 5136 0 32144 0 168260 0 0 0 CORMAC COLLIER CHIEF EXECUTIVE OFFICER MORTGAGE TO ACQUIRE HOME X 466742 466742 0 1 1 466742 X 22 1708742 NYSE X 1 100700 REAL ESTATE ASSESSMENT 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B BEFORE FILING, THE AUDIT COMMITTEE REVIEWS THE FULL FORM 990, WHILE THE FULL BOARD RECEIVES A COPY OF THE FORM 990 WITHOUT SCHEDULE B, THE DONORS LIST, FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE, OFFICER AND ADVISOR IS REQUIRED ANNUALLY TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE QUESTIONNAIRE IS THEN REVIEWED BY THE DIRECTOR OF FINANCE OR CEO. ANY ACTIONS THAT COULD BE DEEMED CONFLICTING, BE IT FINANCIAL, PROPERTY RELATED OR OTHER, WOULD BE BROUGHT TO THE ATTENTION OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS DETERMINED BY THE PRESIDENT AND CEO WITH THE COMPENSATION COMMITTEE FOR EVERY LEVEL OF STAFF. OFFICERS AND TRUSTEES ARE NOT PAID. WE HAVE ENLISTED OUTSIDE CONSULTANTS TO REVIEW AND COMPARE OUR SALARY STRUCTURE TO OTHER COMPARABLE OFF ISLAND COMPANIES AND ON ISLAND COMPANIES AS A FRAME OF REFERENCE. ANNUALLY, ALL EMPLOYEES HAVE A FORMAL REVIEW WITH THEIR DEPARTMENT HEAD RECOMMENDING MERIT INCREASES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FOUNDATION RESPONDS TO ALL REQUESTS BY MAILING A COPY OF THE REQUESTED DOCUMENT TO THE PARTY MAKING THE REQUEST.