2020-07-21T08:53:01-05:00 2019-12-31 830772076 LG&H 12 STILLWATER AVE STE 5 BANGOR ME 04401 990 2019-01-01 010528014 MAINE FARMLAND TRUST MAIN 2073386575 97 MAIN STREET BELFAST ME 04915 KRISTIN VARNUM VICE PRESIDENT / CFO 2073386575 2020-07-16 true CHRISTOPHER S HINDS P01070796 2079904585 2020-07-16 167.68.16.49 2020-07-21 08:53:01 CD P 0D6111DE887E7AF52DE09838A5A5DE7E32FE3032 0DCA490E9373A7591DCCC7F3C9A7ECDE516AAE9B 2019 2020-09-23 17:36:50Z MEREDITH EILERS 97 MAIN ST BELFAST ME 04915 12718541 false X WWW.MAINEFARMLAND.ORG X 1999 ME MAINE FARMLAND TRUST PROTECTS FARMLAND, SUPPORTS FARMERS, AND ADVANCES THE FUTURE OF FARMING. 15 15 45 58 2622 3049762 11021893 82427 58895 -363846 -51617 23659 21033 2792002 11050204 376681 655666 0 2168206 2333310 0 461690 2250287 3711261 4795174 6700237 -2003172 4349967 26320137 30055798 3980706 2671675 22339431 27384123 X MAINE FARMLAND TRUST PROTECTS FARMLAND, SUPPORTS FARMERS, AND ADVANCES THE FUTURE OF FARMING. false false 3703417 8258 38123 FARMLAND PROTECTION AND STEWARDSHIP PROGRAM PERMANENTLY PROTECTED FARMLAND THROUGH ACCEPTANCE OF DONATED AGRICULTURAL CONSERVATION EASEMENTS, PURCHASE OF AGRICULTURAL CONSERVATION EASEMENTS, AND PURCHASE, PROTECTION, AND RESALE OF FARMS. IN 2019, MFT COMPLETED 24 LAND PROTECTION PROJECTS, PROTECTING 3,936 ACRES OF LAND. MFT ALSO COMPLETED ANNUAL EASEMENT MONITORING FOR 213 EASEMENTS. 834803 377204 7738 FARM VIABILITY PROGRAM DIRECTLY SUPPORTED FARMERS WITH BUSINESS PLANNING. OFFERED TRAINING AND ASSISTANCE TO FARMERS THAT WOULD LIKE TO SERVE WHOLESALE MARKETS. COORDINATED A NUTRITION INCENTIVE PROGRAM THAT HELPED LOW-INCOME CONSUMERS TO ACCESS LOCALLY-GROWN AND PRODUCED FOOD AND MAINE FARMERS TO GAIN NEW CUSTOMERS. APPROXIMATELY 410 FARMS WERE SERVED IN 2019. 510968 10829 12291 EDUCATION AND OUTREACH PROGRAM PROVIDED WORKSHOPS, PRESENTATIONS, REGIONAL MEETINGS AND DISPLAYS AT AGRICULTURAL AND RELATED EVENTS TO PRESENT BOTH GENERAL AND TECHNICAL INFORMATION ABOUT FARMLAND PROTECTION. HOSTED A VARIETY OF EVENTS TO INCREASE PUBLIC AWARENESS ABOUT FARMING'S NEEDS AND OPPORTUNITIES, INCLUDING FILM SHOWINGS, FOOD EVENTS, ART EXHIBITS, ETC. APPROXIMATELY 458 FARMERS AND 1,801 OTHER (NON-FARMER) RURAL RESIDENTS WERE SERVED IN 2019. 616973 259375 743 FARM ACCESS PROGRAM'S MAINE FARMLINK MATCHED PROSPECTIVE FARMERS WITH LANDOWNERS THAT HAVE FARMS AVAILABLE FOR LEASE OR SALE. PROVIDED INDIVIDUAL CONSULTATIONS TO FARM SEEKERS TO HELP WITH IDENTIFYING RESOURCES AND SOLUTIONS FOR COMMON FARMLAND ACCESS CHALLENGES. PROVIDED INTERNAL REFERRALS TO OTHER APPLICABLE MAINE FARMLAND TRUST PROGRAMS AND SERVICES FOR LAND OWNERS AND LAND SEEKERS. COLLABORATED WITH EXTERNAL PARTNERS TO ADDRESS SYSTEMIC AND INDIVIDUAL FARMLAND ACCESS AND TRANSFER CHALLENGES. APPROXIMATELY 217 FARMERS WERE SERVED IN 2019. MAINE FARMS REALTY PROGRAM PROVIDED PROFESSIONAL REAL ESTATE SERVICES TO MFT AND MAINE'S FARM COMMUNITY, THROUGH TRADITIONAL AND A LA CARTE REAL ESTATE SERVICES. MAINE FARMS REALTY ALSO EDUCATED REAL ESTATE AGENCIES ABOUT FARMLAND PROTECTION AND ENGAGED THOSE AGENCIES TO WORK IN PARTNERSHIP WITH MFT. POLICY AND RESEARCH PROGRAM WORKED ON MUNICIPAL, STATE, AND FEDERAL POLICY ISSUES THAT AFFECT MAINE FARMS, AND ENGAGED IN THOSE POLICY AREAS THAT DIRECTLY IMPACT OUR ABILITY TO PROTECT FARMLAND, SUPPORT FARMERS, AND ADVANCE THE FUTURE OF FARMING. CONDUCTED RESEARCH AND PREPARED REPORTS AND ARTICLES TO INFORM MFT'S POLICY WORK, SUPPORT OTHER MFT PROGRAM AREAS, AND EDUCATE POLICYMAKERS AND THE PUBLIC ABOUT ISSUES AFFECTING MAINE AGRICULTURE. 616973 259375 743 5666161 true true false true false false true false false true true true false true false false false true false false false false false false false false false true true false false false false false false false false false true true false false true true true true false false true 95 0 45 true true true false false false false false false false false false false false X 15 15 false false false false true true false true true false false true true true true true true true true true true ME MA X KRISTIN VARNUM 2073386575 97 MAIN ST BELFAST ME 04915 KRISTIN VARNUM VICE PRESIDE 40.00 X 117680 0 4119 WILLIAM TOOMEY PRESIDENT 40.00 X 92517 0 0 AMANDA BEAL PRESIDENT (F 40.00 X 27726 0 970 WILLIAM BELL DIRECTOR 2.50 X 0 0 0 JASON BOLTON DIRECTOR 0.25 X 0 0 0 STACY BRENNER DIRECTOR 2.50 X 0 0 0 DAVE COLSON VICE CHAIR 3.00 X X 0 0 0 NEIL CRANE DIRECTOR 0.50 X 0 0 0 MEREDITH EILERS CHAIR 4.00 X X 0 0 0 WALTER FLETCHER DIRECTOR 3.00 X 0 0 0 FRANKLIN B MILES JR DIRECTOR (FM 4.50 X 0 0 0 ELEANOR KINNEY DIRECTOR 2.00 X 0 0 0 JAMES LAWRENCE DIRECTOR 2.50 X 0 0 0 SUSAN MORRIS DIRECTOR 4.00 X 0 0 0 TAYLOR MUDGE DIRECTOR; CH 6.00 X X 0 0 0 JON OLSON DIRECTOR 2.50 X 0 0 0 STEVEN PAGE SECRETARY 3.50 X X 0 0 0 HENRY WHITTEMORE TREASURER 5.00 X X 0 0 0 237923 5089 1 false false false 115616 10906277 6079730 11021893 FARMLAND RENTAL 32523 32523 LAND ACCESS CONFERENCE 10453 10453 EASEMENT AMENDMENTS 5000 5000 INTEREST ON PROGRAM LOANS 4988 4988 FARM BUSINESS DEVELOPMENT 2750 2750 3181 3181 58895 51075 51075 33865 14146 19719 19719 2622 17097 51016 1491005 52094 1592619 -1078 -101614 -102692 -102506 -186 11150 13842 -2692 -2692 MISCELLANEOUS 4006 4006 4006 11050204 -43611 2622 69300 471494 471494 184172 184172 253336 45285 127286 80765 1842417 1355722 265398 221297 56838 40576 8034 8228 6769 4529 1265 975 173950 116396 32501 25053 31162 30502 660 24535 24535 59568 59568 26846 24173 2673 51828 26741 17220 7867 66786 47054 12232 7500 106999 71597 19992 15410 59703 44088 7027 8588 88613 88613 61108 40890 11417 8801 32729 21847 9362 1520 PURCHASED EASEMENTS 2569408 2569408 FARM VIAB. PRGM EXPS 120790 120790 FARMLAND OWNERSHIP EXPS 88807 88807 DAIRY FEASIBILITY STUDY 62801 62801 259578 151108 35457 73013 6700237 5666161 572386 461690 409421 259807 5115022 3210947 3585082 880190 6254 9671 1074234 1251254 2395 2367 1900670 231135 1708610 1669535 2264230 2299980 13755 11157 12141134 20460890 26320137 30055798 323251 384345 5950 6750 2953980 1531107 697525 749473 3980706 2671675 X 13756393 21871883 8583038 5512240 22339431 27384123 26320137 30055798 X 4349967 694725 X false true X true false X 15970642 8885507 3532778 3049762 11021893 42460582 15970642 8885507 3532778 3049762 11021893 42460582 10270144 32190438 54153 41987 38302 67749 69675 271866 911 2622 3533 3354 5352 15226 9276 4006 37214 42773195 247220 0.75260 0.83260 X PART II, LINE 10 MISCELLANEOUS INCOME 28,207 RETURNED GRANTS 9,007 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1120 1080 2200 6698037 6700237 485012 121253 440043 429610 389759 485012 1744424 2616636 2200 2200 110011 107403 97440 121253 436107 654161 1120 1120 X X 222 35592.06 5 1 true 3755.00 122661 20242 2953 242 22953 20847 -480 125 20242 18333 2637 123 20847 17221 1276 164 18333 17564 -143 200 17221 1.00000 true false 314965 314965 1459866 155993 1303873 92110 55999 36111 33729 19143 14586 1669535 2299980 C 2299980 ARTWORK HELD FOR SALE OR DONATION 8531300 BENE INT IN ASSETS HELD BY OTHERS 8142795 FARMS AND FARMLAND (NET OF DEPN) 3264775 NOTE RECEIVABLE - UNITY FOOD HUB LLC 305000 OTHER AMTS DUE - UNITY FOOD HUB, LLC 200000 LOAN RECEIVABLE- UNITY FOOD HUB MGMT 17020 20460890 SCHEDULE D, PAGE 1, PART II, LINE 5 MAINE FARMLAND TRUST MONITORS EACH CONSERVATION INTEREST ANNUALLY - EITHER WITH AERIAL MONITORING OR PHYSICAL INSPECTIONS - TO ENSURE THAT CONSERVATION VALUES ARE PRESERVED AND THE TERMS OF EASEMENTS AND DEED RESTRICTIONS ARE UPHELD. WHEN A VIOLATION IS SUSPECTED, STAFF WORK WITH LEGAL COUNSEL TO EVALUATE THE SITUATION AND UNDERTAKE THE BEST COURSE OF ACTION AND RESOLUTION. SCHEDULE D, PAGE 1, PART II, LINE 9 ORGANIZATION DOES NOT RECORD CONSERVATION EASEMENTS ON ITS BALANCE SHEET AND DONATIONS OF EASEMENTS ARE NOT REFLECTED AS INCOME. MONITORING AND STEWARDSHIP EXPENSES ARE EXPENSED AS INCURRED. TEXT OF FINANCIAL STATEMENT FOOTNOTE: "CONSERVATION EASEMENTS ARE DEEMED TO BE WITHOUT ECONOMIC VALUE TO MAINE FARMLAND TRUST AND THEREFORE ARE VALUED AT ZERO FOR ACCOUNTING PURPOSES." SCHEDULE D, PAGE 2, PART V, LINE 4 QUASI-ENDOWMENT FUND EARNINGS ARE INTENDED TO BENEFIT THE GENERAL OPERATIONS OF THE ORGANIZATION. SCHEDULE D, PAGE 4, PART XIII EXPLANATION FOR PART II, LINE 3: NUMBER OF EASEMENTS MODIFIED, TRANSFERRED, RELEASED, EXTINGUISHED, OR TERMINATED DURING 2019: 5 1. HASTINGS: THE EASEMENT WAS GRANTED TO MFT ON 1/22/2016 WITH THE INTENTION TO ASSIGN THE EASEMENT TO MAHOOSUC LAND TRUST ONCE THEY RAISED THE NECESSARY STEWARDSHIP FUNDS. MFT ASSIGNED THE EASEMENT ON 5/24/2019 TO MAHOOSUC LAND TRUST AS THE PERMANENT HOLDER. 2. UPLAND: THE EASEMENT WAS GRANTED TO MFT ON 10/31/2019 AND IMMEDIATELY ASSIGNED TO THREE RIVERS LAND TRUST AS THE PERMANENT HOLDER. 3. OAKES FIELD: IN LATE 2018, A DECISION IN A CASE BEFORE THE FIFTH CIRCUIT COURT OF APPEALS CAUSED THE LAND TRUST COMMUNITY TO SCRAMBLE TO ENSURE THAT ONE SENTENCE CONTAINED IN MOST CONSERVATION EASEMENTS GRANTED IN THE LAST THIRTY YEARS DID NOT INVALIDATE THE CHARITABLE DEDUCTIONS OF THEIR GRANTORS. THE OFFENDING SENTENCE DEALT WITH THE EASEMENT HOLDER'S SHARE OF ANY PROCEEDS TO BE PAID TO THE LANDOWNER BY THE GOVERNMENT BECAUSE OF A "TAKING" OF ALL OR A PORTION OF THE PROTECTED PROPERTY. IN DEDUCTIBLE EASEMENTS, THE SHARE OF THOSE PROCEEDS DUE TO THE HOLDER IS A PERCENTAGE OF THE VALUE OF THE LAND, WHICH PERCENTAGE IS FIXED AT THE TIME OF THE GRANT OF THE EASEMENT ACCORDING TO THE RELATIONSHIP BETWEEN THE VALUE OF THE LAND UNENCUMBERED AND THE VALUE OF THE EASEMENT. THUS, IF THE EASEMENT VALUE IS 60% OF THE VALUE OF THE LAND UNENCUMBERED, THE LAND TRUST WOULD BE ENTITLED TO 60% OF PROCEEDS PAID TO THE LANDOWNER BECAUSE OF A TAKING. SPECIFICALLY, THE SENTENCE SAID THAT THE POOL OF PROCEEDS FROM WHICH THE HOLDER'S PERCENTAGE WOULD BE TAKEN WOULD NOT INCLUDE ANY PROCEEDS ATTRIBUTABLE TO PERMITTED IMPROVEMENTS CONSTRUCTED AFTER THE GRANT OF THE CONSERVATION EASEMENT - THE THEORY BEING THAT THE EASEMENT INTEREST IS REALLY IN THE LAND UNDERLYING THE IMPROVEMENTS, AND THE LAND TRUST SHOULD NOT GET A WINDFALL BECAUSE THE LANDOWNER EXERCISED THEIR RESERVED RIGHTS TO CONSTRUCT IMPROVEMENTS. THE CONSENSUS APPROACH TO ADDRESSING THIS ISSUE FOR DEDUCTIBLE EASEMENTS IS TO REMOVE THE PROBLEM SENTENCE FROM THE EASEMENT TEMPLATE FOR DEDUCTIBLE EASEMENTS, AND WHERE THE LANDOWNER HOPES TO TAKE A DEDUCTION FOR AN EASEMENT GRANTED IN 2018 THAT INCLUDES THE SENTENCE, TO AMEND THE EASEMENT TO REMOVE IT. THIS EASEMENT WAS PURCHASED BY MFT ON 2/23/2018 AND GIVEN THE LANDOWNER'S INTENTION TO SEEK A DEDUCTION FOR THE BARGAIN SALE PORTION OF HIS EASEMENT VALUE, MFT AMENDED THE EASEMENT TO REMOVE THE OFFENDING SENTENCE. AN AMENDMENT WAS EXECUTED ON 3/11/2019 AND RECORDED IN THE APPROPRIATE REGISTRY OF DEEDS. 4. FOGG FAMILY FARM: AFTER THE ORIGINAL GRANTOR PASSED AWAY, HIS HEIR WISHED TO ENSURE THAT THE FARM STAY ACTIVELY MANAGED AFTER THE PROPERTY IS SOLD. THE ORIGINAL EASEMENT, DONATED ON 11/10/2011 DID NOT INCLUDE MFT'S STANDARD REQUIREMENT TO MAINTAIN EXISTING OPEN FIELDS. THE LANDOWNER REQUESTED THAT THE EASEMENT BE AMENDED TO INCLUDE THIS REQUIREMENT, PRIOR TO HIS SALE OF THE PROPERTY. THE AMENDMENT WAS EXECUTED ON 9/5/2019 AND RECORDED IN THE APPROPRIATE REGISTRY OF DEEDS. 5. SILVERMAN FARM: THE EASEMENT WAS PURCHASED ON 9/1/2017 SIMULTANEOUSLY WITH THE SALE OF THE PROPERTY TO A NEW LANDOWNER ("DANDELION SPRINGS"). THE DEED AND AMENDMENT WERE RECORDED BY THE CLOSING AGENT AFTERWARD. WHEN MFT'S TITLE INSURER UPDATED TITLE, THEY FOUND THAT AN AFFIDAVIT HAD BEEN RECORDED BY THE ABUTTER TO THE SOUTH JUST HOURS PRIOR TO THE RECORDING OF THE DEED AND EASEMENT. THE AFFIDAVIT CLAIMED OWNERSHIP OF A SIX-ACRE PORTION OF THE PROPERTY ALONG ITS SOUTHERN BOUNDARY (THE "DISPUTED PARCEL") BY VIRTUE OF THE ABUTTER'S DEED AS WELL AS THROUGH THEORIES OF ADVERSE POSSESSION AND ACQUIESCENCE. THE AFFIDAVIT ALSO REFERENCED AN EARLIER AFFIDAVIT, RECORDED IN 2015 THAT MADE SIMILAR CLAIMS. HOWEVER, THE 2015 AFFIDAVIT HAD BEEN MIS-INDEXED SO NEITHER DANDELION SPRING'S NOR MFT'S TITLE SEARCHES REVEALED THE EXISTENCE OF THE DISPUTE. AFTER SOME BACK AND FORTH BETWEEN DANDELION SPRINGS AND THE ABUTTER, THE ABUTTER THREATENED LEGAL ACTION AND DANDELION SPRING'S TITLE COMPANY SUED THE ABUTTER TO SEEK A DECLARATORY JUDGMENT THAT THE DANDELION SPRINGS OWNED THE DISPUTED PARCEL. THE ABUTTER COUNTER-SUED AND JOINED MFT AND FARM CREDIT EAST ("FCE") AS PARTIES-IN-INTEREST TO THE SUIT. DURING THE DISCOVERY PROCESS, DANDELION SPRING AND THE ABUTTER REACHED A SETTLEMENT THAT, WITH APPROVAL BY MFT, FCE, THE ATTORNEY GENERAL, AND THE COURT, RESULTED IN A JUDGMENT FINDING THAT THE ABUTTER OWNS THE DISPUTED PARCEL WHICH EFFECTIVELY TERMINATED THE EASEMENT TO THE EXTENT THAT IT EVER ENCUMBERED THE DISPUTED PARCEL. AN AMENDMENT WHICH UPDATED THE LEGAL DESCRIPTION BASED ON THE COURT JUDGEMENT WAS EXECUTED ON 12/30/2019 AND RECORDED IN THE APPROPRIATE REGISTRY OF DEEDS. true BROADTURN FARM INC 388 BROADTURN RD SCARBOROUGH ME 04074 37637 IMPLEMENTATION COASTAL MOUNTAINS LAND TRUST 101 MT BATTIE ST CAMDEN ME 04843 222795691 501C3 5258 FARMLAND PROTECTION EMERY FARM 705 PORTLAND RD SACO ME 04072 43274 IMPLEMENTATION HERBAL REVOLUTION 410 NORTH UNION RD UNION ME 04862 10000 IMPLEMENTATION MAINE HARVEST CREDIT UNION P O BOX 249 UNITY ME 04988 842767030 501C1 312500 GENERAL SUPPORT UNIVERSITY OF MAINE FOUNDATION 160 COLLEGE AVE ORONO ME 04473 016011501 501C3 25000 NAT CLIMATE SOLUT FD 2 4 COMMUNITY FOOD EFFORTS 12 40617 FRESH LOCAL FOOD 378 130305 RETAIL VAL FRESH FARM FOOD SEED GRANTS 15 13250 SCHEDULE I, PAGE 1, PART I, LINE 2 GRANTS ARE NOT MONITORED, PER SE. FOR THE COMMUNITY FOOD GRANTS, AN ANNUAL REPORT IS ONLY REQUIRED IF FURTHER FUNDING IS REQUESTED. X 3 6026000 MGMT APPRAISALS & ESTS X 2672 RETAIL VALUE X 9 51058 ACTIVE MKT X 2 EASEMENTS HAVE NO VALUE 7 false true false FORM 990, PAGE 2, PART III, LINE 4D FARM ACCESS PROGRAM'S MAINE FARMLINK MATCHED PROSPECTIVE FARMERS WITH LANDOWNERS THAT HAVE FARMS AVAILABLE FOR LEASE OR SALE. PROVIDED INDIVIDUAL CONSULTATIONS TO FARM SEEKERS TO HELP WITH IDENTIFYING RESOURCES AND SOLUTIONS FOR COMMON FARMLAND ACCESS CHALLENGES. PROVIDED INTERNAL REFERRALS TO OTHER APPLICABLE MAINE FARMLAND TRUST PROGRAMS AND SERVICES FOR LAND OWNERS AND LAND SEEKERS. COLLABORATED WITH EXTERNAL PARTNERS TO ADDRESS SYSTEMIC AND INDIVIDUAL FARMLAND ACCESS AND TRANSFER CHALLENGES. APPROXIMATELY 217 FARMERS WERE SERVED IN 2019. MAINE FARMS REALTY PROGRAM PROVIDED PROFESSIONAL REAL ESTATE SERVICES TO MFT AND MAINE'S FARM COMMUNITY, THROUGH TRADITIONAL AND A LA CARTE REAL ESTATE SERVICES. MAINE FARMS REALTY ALSO EDUCATED REAL ESTATE AGENCIES ABOUT FARMLAND PROTECTION AND ENGAGED THOSE AGENCIES TO WORK IN PARTNERSHIP WITH MFT. POLICY AND RESEARCH PROGRAM WORKED ON MUNICIPAL, STATE, AND FEDERAL POLICY ISSUES THAT AFFECT MAINE FARMS, AND ENGAGED IN THOSE POLICY AREAS THAT DIRECTLY IMPACT OUR ABILITY TO PROTECT FARMLAND, SUPPORT FARMERS, AND ADVANCE THE FUTURE OF FARMING. CONDUCTED RESEARCH AND PREPARED REPORTS AND ARTICLES TO INFORM MFT'S POLICY WORK, SUPPORT OTHER MFT PROGRAM AREAS, AND EDUCATE POLICYMAKERS AND THE PUBLIC ABOUT ISSUES AFFECTING MAINE AGRICULTURE. FORM 990, PAGE 6, PART VI, LINE 6 INDIVIDUALS PAYING THE MINIMUM ANNUAL MEMBERSHIP DUES. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS VOTE AT THE ANNUAL MEETING TO ELECT THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS PROVIDED TO THE TREASURER BY THE PAID PREPARER. THE TREASURER REVIEWS AND MAKES A RECOMMENDATION AND PASSES THE 990 WITH HIS RECOMMENDATION TO ALL THE DIRECTORS. THE DIRECTORS ARE TO RESPOND WITHIN 4 DAYS. IF ANY RESPONSE NOT TO FILE IS PRESENTED, THE PAID PREPARER WILL BE ASKED TO FILE AN EXTENSION IF NECESSARY, OTHERWISE THE 990 WILL BE FILED AS PRESENTED. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY, EACH DIRECTOR, EMPLOYEE, INTERN, REGULAR VOLUNTEER, AND COMMITTE E MEMBER SHALL SIGN AN ACKNOWLEDGEMENT OF THE CONFLICT OF INTEREST POLICY AFFIRMING THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY,AND D. UNDERSTANDS THAT MFT IS A CHARITABLE TAX EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES, AND AVOID PRIVATE INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT. FORM 990, PAGE 6, PART VI, LINE 15A WHEN A NEW PRESIDENT IS HIRED, COMPENSATION SHALL BE SET BY THE BOARD OF DIRECTORS FOLLOWING A REVIEW OF COMPENSATION LEVELS AT OTHER MAINE NON- PROFIT ORGANIZATIONS WITH COMPARABLE BUDGETS AND PROGRAMS. THIS REVIEW SHALL SERVE AS GUIDANCE TO THE BOARD, BUT NOT THE ONLY DETERMINANT OF COMPENSATION LEVEL. FUTURE ADJUSTMENTS IN COMPENSATION MAY BE MADE BY THE BOARD AS IT SEES FIT. NORMALLY, THIS WILL OCCUR THROUGH THE ANNUAL BUDGET PROCESS. THE BOARD MAY CONSIDER INCREASES IN COMPENSATION AS COST OF LIVING ADJUSTMENTS, AS THE RESULT OF ORGANIZATIONAL GROWTH, AND/OR TO REWARD EXCEPTIONAL JOB PERFORMANCE. THE BOARD MAY ALSO CONSIDER DECREASES IN COMPENSATION, DEPENDING ON THE FISCAL HEALTH OF THE ORGANIZATION AND/OR JOB PERFORMANCE. BEFORE MAKING ANY COMPENSATION ADJUSTMENT IN EXCESS OF 5% (UP OR DOWN), THE BOARD SHALL ONCE AGAIN REVIEW COMPENSATION LEVELS AT OTHER MAINE NON-PROFIT ORGANIZATIONS TO GUIDE ITS DECISION. FORM 990, PAGE 6, PART VI, LINE 15B ALL OTHER STAFF ARE HIRED BY THE PRESIDENT. WHEN A NEW EMPLOYEE IS HIRED, COMPENSATION IS SET BY THE PRESIDENT BASED ON SEVERAL FACTORS, INCLUDING (BUT NOT NECESSARILY LIMITED TO): THE NEW EMPLOYEE'S SKILLS AND EXPERIENCE; EQUITY WITH OTHER MFT STAFF DOING SIMILAR WORK; AND A REVIEW OF COMPENSATION LEVELS FOR SIMILAR JOBS AT OTHER MAINE NON-PROFIT ORGANIZATIONS. FUTURE ADJUSTMENTS IN COMPENSATION MAY BE MADE BY PRESIDENT, NORMALLY FOLLOWING AN ANNUAL PERFORMANCE REVIEW AS PART OF THE ANNUAL BUDGET PROCESS. THE PRESIDENT MAY CONSIDER INCREASES IN COMPENSATION AS COST OF LIVING ADJUSTMENTS, AS THE RESULT OF CHANGES IN JOB DESCRIPTION, AND/OR TO REWARD EXCEPTIONAL JOB PERFORMANCE. IN EXTRAORDINARY CIRCUMSTANCES, THE PRESIDENT MAY ALSO CONSIDER DECREASES IN COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 MAINE FARMLAND TRUST'S BOOKS AND RECORDS ARE AVAILABLE FOR INSPECTION BY THE PUBLIC UPON WRITTEN NOTICE AT LEAST 5 BUSINESS DAYS BEFORE THE DATE OF INSPECTION. FORM 990, PART XI, LINE 9 CHANGE IN VALUE: BENE INT IN ASSETS HELD BY MCF 694,725 CHANGE IN VALUE: BENE INT IN ASSETS HELD BY MCF 0 TOTAL 694,725 MAINE FARMS REALTY LLC 97 MAIN STREET BELFAST ME 04915 452772209 R/E BROKER ME 15821 98787 MEFARMTR UNITY FOOD HUB LLC 97 MAIN ST BELFAST ME 04915 470962434 RE RENTAL ME UFH-MM LLC EXCLUDED -98618 1114623 true true 0.01000 UNITY FARM HUB MANAGEMENT LLC 97 MAIN ST BELFAST ME 04915 473061547 FOOD HUB ME MEFARMTR C CORP 57022 5891 1.00000 true UNITY FH-MM LLC 97 MAIN ST BELFAST ME 04915 474129446 HOLDING CO ME MEFARMTR C CORP 102134 1486408 1.00000 true true true false false false false false false false false false false false false true false true false false UNITY FOOD HUB LLC A 5399 CASH UNITY FOOD HUB MANAGEMENT LLC B 35000 CASH UNITY FOOD HUB MANAGEMENT LLC A 170 CASH