2026-02-16T10:39:57-06:00 2025-06-30 020327524 NATHAN WECHSLER & COMPANY PA 70 COMMERCIAL STREET CONCORD NH 03301 990 2024-07-01 030264836 VERMONT LAND TRUST INC VERM 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 TRACY ZSCHAU CEO/PRESIDENT 8022235234 2026-02-16 1 0 ORESTE J MOSCA P00366101 6034482650 2026-02-11 2024 2025-03-06 01:10:19Z TRACY ZSCHAU 8 BAILEY AVENUE MONTPELIER VT 05602 24469913 0 X VLT.ORG X 1977 VT TO CONSERVE LAND FOR THE FUTURE OF VERMONT. 14 14 50 148 0 0 23951279 17987510 723979 663684 1819670 1599744 209842 319265 26704770 20570203 46000 147596 0 0 4508595 5106906 106266 61538 529291 16385852 13340132 21046713 18656172 5658057 1914031 62068678 64850972 9555604 8325153 52513074 56525819 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 12618043 147596 0 CONSERVATIONTHE VERMONT LAND TRUST IS A MEMBER-SUPPORTED LAND CONSERVATION ORGANIZATION THAT HAS WORKED WITH FAMILIES, COMMUNITIES, FARMERS, AND FORESTLAND OWNERS SINCE 1977 TO CONSERVE OVER 2,000 PARCELS OF LAND IMPORTANT TO VERMONTERS. VLT HAS PERMANENTLY CONSERVED MORE THAN 650,000 ACRES. THIS LAND INCLUDES MORE THAN 1,100 WORKING FARMS, MORE THAN 410,000 ACRES OF PRODUCTIVE FORESTLAND, AND NUMEROUS PARCELS OF COMMUNITY LANDS. OUR STAFF CHOOSES INITIATIVES AND WEIGHS INVESTMENTS OF RESOURCES IN OUR EFFORT TO BEST SERVE CURRENT AND FUTURE RESIDENTS AND VISITORS TO VERMONT. OUR ACCOMPLISHMENTS INCLUDE: PROTECTING AND STEWARDING FARMS, FORESTS, COMMUNITY LANDS, AND ASSOCIATED IMPORTANT NATURAL AREAS. PROTECTING AND STEWARDING LAND THAT CONTRIBUTES TO THE CULTURAL, ECONOMIC, AND ECOLOGICAL VITALITY OF LOCAL COMMUNITIES. PROTECTING AND STEWARDING LAND THAT IS ACCESSIBLE TO THE PUBLIC, AND THAT IS BOTH AFFORDABLE AND AVAILABLE FOR THOSE WHO WISH TO USE IT. IMPROVING THE LIVES OF INDIVIDUALS AND FAMILIES BY INVIGORATING FARMS, LAUNCHING NEW BUSINESSES, MAINTAINING SCENIC VISTAS, PROVIDING LOCAL FOOD, ENCOURAGING RECREATIONAL OPPORTUNITIES, AND FOSTERING A RENEWED SENSE OF COMMUNITY. 2161640 5273 STEWARDSHIPTHE VERMONT LAND TRUST ACCEPTS THE RESPONSIBILITY TO SAFEGUARD AND UPHOLD, FOR THE BENEFIT OF ALL VERMONTERS, THE LEGAL AGREEMENT SIGNED VOLUNTARILY BY THE LANDOWNER. WE CALL THIS WORK STEWARDSHIP. OUR STEWARDSHIP ROLE MEANS THAT WE MONITOR ALL OUR CONSERVED PROPERTIES ON AN ANNUAL BASIS AND MEET WITH ALMOST 90% OF THE OWNERS OF CONSERVED LAND. THESE EXPERIENCES, VISITING THE LAND AND CREATING RELATIONSHIPS WITH LANDOWNERS, ARE CORE TO CREATING BALANCED CARE FOR THE ECOLOGICAL INTEGRITY, CULTURAL HERITAGE, AND ECONOMIC PRODUCTIVITY OF CONSERVED PROPERTIES. 422542 THE BREWSTER UPLANDS CONSERVATION TRUST IS AN ENTITY THAT SUPPORTS THE MANAGEMENT OF 1,000+ ACRES FOR PUBLIC ACCESS, FARMING AND EDUCATIONAL PURPOSES. 128354 25465 ATLAS TIMBERLANDS PROJECTTHE ATLAS TIMBERLANDS PROJECT IS A JOINT UNDERTAKING OF THE VERMONT LAND TRUST AND THE NATURE CONSERVANCY. TOGETHER, THE TWO ORGANIZATIONS HAVE OWNED AND MANAGED TIMBERLAND IN THE NORTHERN GREEN MOUNTAINS BEGINNING IN 1997. THE MANAGEMENT OF THIS LAND PROVIDES DIRECT EXPERIENCE WITH THE CHALLENGES OF OWNING AND MANAGING TIMBERLAND FOR ECONOMIC AND BIODIVERSITY VALUES. THIS EXPERIENCE HAS A DIRECT IMPACT ON OUR ABILITY TO UNDERSTAND AND ADDRESS CONCERNS OF OWNERS OF CONSERVED TIMBERLAND. MUCH OF THE LAND HAS NOW BEEN SOLD, SUBJECT TO PERPETUAL CONSERVATION EASEMENTS THAT ENSURE THE IS OPEN TO THE PUBLIC FOR HIKING, HUNTING, AND OTHER NON-MOTORIZED RECREATION. 933948 658411 VERMONT FOREST CARBONTHE VERMONT FOREST CARBON IS A PROJECT TO PILOT AGGREGATING SMALL, SEPARATELY OWNED, INDIVIDUAL PARCELS OF FOREST LAND FOR CARBON SEQUESTRATION TO PROVIDE A BROADER SET OF LANDOWNERS ACCESS TO CARBON MARKETS. 1062302 683876 16264527 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 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 162 0 1 50 1 0 0 0 0 0 0 1 1 0 0 0 0 0 X 14 14 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 0 0 0 CAROLYN GILBERT TRUSTEE 1.00 X 0 0 0 CHERYL MORSE TRUSTEE 1.00 X 0 0 0 HANNAH SESSIONS TRUSTEE 1.00 X 0 0 0 JESS PHELPS TRUSTEE 1.00 X 0 0 0 MARIA YOUNG TRUSTEE 1.00 X 0 0 0 MERIWETHER HARDIE VICE CHAIR 2.00 X X 0 0 0 MIKE DONOHUE BOARD CHAIR 2.00 X X 0 0 0 RAMSEY LUHR TREASURER 2.00 X X 0 0 0 KARIN CHAMBERLAIN TRUSTEE 1.00 X 0 0 0 PAUL COSTELLO TRUSTEE 1.00 X 0 0 0 JOHN KASSEL TRUSTEE 1.00 X 0 0 0 DAWN MORGAN TRUSTEE 1.00 X 0 0 0 FRED NELSON TRUSTEE 1.00 X 0 0 0 ABBY WHITE VP FOR ENGAGEMENT 40.00 X 130780 0 3181 JOHN LIVINGSTON DIRECTOR OF FINANCE- OUTGOING 40.00 X 68271 0 10349 JESSICA ESTES BOARD SECRETARY 40.00 X 65989 0 18086 TRACY ZSCHAU PRESIDENT AND CEO 40.00 X 131250 0 12104 TYLER MILLER VP FOR LAND ACTIVATION 40.00 X 104185 0 19375 CHRISTINE MCSHEA LEGAL DIRECTOR 40.00 X 104418 0 2515 DANIEL KILBORN LANDS DIRECTOR 40.00 X 103467 0 2364 ALLAN KARNATZ PROJECT DIRECTOR 40.00 X 102397 0 2333 810757 0 70307 6 0 0 0 OPEN APPROACH 1 MILL ST 365 BURLINGTON VT 05401 IT SUPPORT PROVIDER 173855 SPATIAL INFORMATICS GROUP 2529 YOLANDA CT PLEASANTON CA 94566 VERMONT FOREST CARBON PROGRAM 142051 2 9124234 8863276 1504656 17987510 VT FOREST CARBON INCOME 110000 658411 658411 LAND AND TIMBER INCOME 110000 5273 5273 663684 1018619 1018619 151234 0 151234 151234 151234 2949833 1531002 2226142 1673568 723691 -142566 581125 -142566 723691 MISCELLANEOUS INCOME 561000 147731 147731 STEWARDSHIP INCOME 561000 20240 20240 MERCHANDISE SALES 561000 60 60 168031 20570203 689149 0 1893544 X 139096 139096 8500 8500 645945 278792 197956 169197 3270023 2900799 288376 80848 83174 73290 7771 2113 761366 641183 80229 39954 346398 283351 41791 21256 60254 60153 101 170549 112332 57312 905 61538 61538 338273 198004 95355 44914 1023210 673934 343848 5428 48400 28331 13643 6426 285102 217430 46460 21212 142078 83164 40050 18864 382034 227212 147248 7574 127016 90414 30698 5904 18909 11068 5330 2511 88477 10975 77502 260271 78081 182190 105075 17520 87555 DEVELOPMENT RIGHTS 8489196 8489196 CARBON OFFSET 655830 655830 PROJECT FEASIBILITY 339151 338380 771 OTHER OPERATING EXPENSE 296957 173819 83709 39429 509350 473673 34459 1218 18656172 16264527 1862354 529291 642446 292952 10364112 13756876 2515014 1304283 2645 410268 32105 15781 107601 105388 76077 156267 14716512 3084213 11611054 11632299 15968597 15142147 986509 1071306 655190 490000 19107328 20473405 62068678 64850972 503006 915011 2077105 2139602 2943 2943 5615133 4554093 1357417 713504 9555604 8325153 X 18233659 22322438 34279415 34203381 52513074 56525819 62068678 64850972 X 1914031 87302 2011412 X X 0 1 X 1 1 1 X 14984142 24891523 16419541 23951279 17987510 98233995 14984142 24891523 16419541 23951279 17987510 98233995 8857838 89376157 427268 108032 393246 710205 1169853 2808604 101042599 8752929 0.88450 0.88490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13448 13448 18642724 18656172 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 45811 23694 10188 13448 93141 250000 250000 250000 250000 1000000 1500000 X X X 2492 548065.00 1 4 1 1 22568.00 1374997 1 28543458 4744145 2527459 3897212 250000 31667850 24030508 3527183 2555579 1300812 269000 28543458 22066358 1709247 2001877 1508516 238458 24030508 24636057 3139806 -3228704 2248784 232017 22066358 20432221 731728 4812443 1099684 240651 24636057 0.05599 0.61807 0.32594 1 0 7205379 7205379 5039191 2007583 3031608 810235 670700 139535 1661707 405930 1255777 11632299 CHARITABLE REMAINDER TRUSTS 1647595 BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION 18806960 DEPOSITS 16150 RECEIVABLES DUE FROM RELATED ENTITIES 2700 20473405 DEFERRED CHARITABLE ANNUITIES 711402 DUE TO RELATED ENTITIES 1350 CREDIT CARD CLEARING 752 713504 X 24263320 87302 171728 3684980 3944010 20319310 250893 250893 20570203 20250575 171728 1673568 1845296 18405279 250893 250893 18656172 PART II, LINE 3: AMENDMENT: COSTA: THE PURPOSES OF THE COSTA 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 COSTA FARM. AMENDMENT: GOAT: THIS CORRECTIVE AMENDMENT FIXED AN ERROR IN THE DATES LISTED IN THE SIGNATURE LINE AND NOTARY BLOCK. THE DATES IN THE ORIGINAL EASEMENT WERE ERRONEOUSLY LISTED, AND THE CORRECTIVE AMENDMENT REVISED THE DATES TO ACCURATELY REFLECT THE EXECUTION DATE OF MARCH 3, 2023. THE ERROR IS EVIDENCED IN THE CONTENT OF THE OTHER CLOSING DOCUMENTATION SIMULTANEOUSLY EXECUTED ON THE SAME DAY, INCLUDING THE VERMONT PROPERTY TRANSFER TAX RETURN, THE CONSERVATION MAP, THE BASELINE DOCUMENTATION REPORT, THE MECHANICS' LIEN AFFIDAVIT, THE CLOSING SUMMARY AND VLT'S THANK YOU LETTER. AMENDMENT: FAIRMONT DAIRY: THIS SCRIVENER'S ERROR AFFIDAVIT 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. AMENDMENT: PUTNEY MOUNTAIN ASSOCIATION III: THE PURPOSES OF THE PUTNEY MOUNTAIN ASSOCIATION EASEMENT ARE TO CONSERVE WILDLIFE HABITAT, FOREST VALUES, SCENIC RESOURCES, PLANT HABITAT FOR ECOLOGICAL AND BIOLOGICAL HEALTH OF THE PROPERTY, AND PUBLIC RECREATION AND EDUCATIONAL OPPORTUNITIES. THIS AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 159 +/- ACRES OF PREVIOUSLY UNCONSERVED LAND TO THE EASEMENT. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING A FOREST PROTECTION ZONE. 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. 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 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS HELD BY VCF 1,659,400. COST OF LAND SOLD 1,673,568. VALUATION ADJUSTMENTS TO SPLIT INTEREST AGREEMENTS 352,012. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF LAND SOLD 1,673,568. X X X X 1 ROBIN JEFFERS 499 BAY RD SHELBURN VT 05482 DESIGN AND EXECUTE A FY2025 CAMPAIGN TO RAISE $750,000. 0 190882 19958 170924 BRIE GELINAS 320 ELCY LANE CHARLOTTE VT 05445 DESIGN AND EXECUTE A FY2025 CAMPAIGN TO RAISE $750,000. 0 190881 29580 161301 MINDEL PELCHAT & ASSOCIATES 441 CENTER ROAD MIDDLESEX VT 05602 HELP TO DESIGN AND EXECUTE A $5,800,000 FUNDRAISING CAMPAIGN 0 0 12000 -12000 381763 61538 320225 VT SCHEDULE G, PART I, LINE 2B, COLUMN (V) TWO INDEPENDENT CONTRACTORS JOINTLY CONDUCTED FUNDRAISING ACTIVITIES. GROSS RECEIPTS OF $381,763 COULD NOT BE REASONABLY ALLOCATED BETWEEN CONTRACTORS, THEREFORE 50% OF GROSS RECEIPTS ARE REPORTED FOR EACH CONTRACTOR IN PART I, LINE 2(A)(IV). 1 GREEN COMMONS OF VERMONT 18 SHAGBARK HILL ROAD PUTNEY VT 05346 851728204 120797 0 TO ACQUIRE 1.03 ACRES (PUTNEY COMMON) EQUINOX PRESERVATION TRUST PO BOX 986 MANCHESTER VT 05254 043197313 8298 0 EQUINOX MOUNTAIN PRESERVATION CENTER FOR WHOLE COMMUNITIES PO BOX 5483 BURLINGTON VT 05402 510462232 10000 0 VCLS CONTRIBUTION FOR GENERAL SUPPORT 3 2025 LAND STEWARD AWARDS 8 3500 ERIC ROZENDAAL MEMORIAL AWARD 2025 1 5000 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 16 254656 FAIR MARKET VALUE X 7 0 ZERO VALUE X 3 1250000 FAIR MARKET VALUE 1 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 381,431. MANAGEMENT AND GENERAL EXPENSES 194,609. FUNDRAISING EXPENSES 3,072. TOTAL EXPENSES 579,112. CONTRACTORS: PROGRAM SERVICE EXPENSES 129,317. MANAGEMENT AND GENERAL EXPENSES 65,979. FUNDRAISING EXPENSES 1,042. TOTAL EXPENSES 196,338. FARMER PAYMENTS: PROGRAM SERVICE EXPENSES 155,348. MANAGEMENT AND GENERAL EXPENSES 79,261. FUNDRAISING EXPENSES 1,251. TOTAL EXPENSES 235,860. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 7,838. MANAGEMENT AND GENERAL EXPENSES 3,999. FUNDRAISING EXPENSES 63. TOTAL EXPENSES 11,900. FORM 990, PART IX, LINE 24E GRANT MAKING EXPENSES: PROGRAM SERVICE EXPENSES 229,666. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 229,666. CHARITABLE GIFT ANNUITY: PROGRAM SERVICE EXPENSES 126,188. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 126,188. COST OF LAND AND TIMBER: PROGRAM SERVICE EXPENSES 99,079. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 99,079. BAD DEBT EXPENSE: PROGRAM SERVICE EXPENSES 13,371. MANAGEMENT AND GENERAL EXPENSES 31,873. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 45,244. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 5,369. MANAGEMENT AND GENERAL EXPENSES 2,586. FUNDRAISING EXPENSES 1,218. TOTAL EXPENSES 9,173. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS HELD BY VCF 1,659,400. VALUATION ADJUSTMENTS TO SPLIT INTEREST AGREEMENTS 352,012. 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 420793 1836026 VERMONT LAND TRUST INC VERMONT FOREST CARBON LLC 8 BAILEY AVENUE MONTPELIER VT 05602 843465811 CARBON SEQUESTRATION VT 658411 9899 VERMONT LAND TRUST INC