2025-11-17T07:27:58-06:00 2024-12-31 030327374 MCSOLEY MCCOY & CO 118 TILLEY DRIVE STE 202 SOUTH BURLINGTON VT 05403 990 2024-01-01 030267331 LAKE CHAMPLAIN LAND TRUST INC LAKE 8028624150 ONE MAIN STREET 205 BURLINGTON VT 05401 CHRIS BOGET EXECUTIVE DIRECTOR 8028624150 2025-11-14 1 0 CONNIE FELLION P01875413 8026581808 2025-11-14 2024 2025-03-06 01:10:19Z CHRIS BOGET ONE MAIN STREET 205 BURLINGTON VT 05401 1381949 0 X WWW.LCLT.ORG X 1978 VT NATIONALLY ACCREDITED LAND CONSERVATION TRUST 9 9 3 113 0 0 339811 526489 0 0 183511 404684 0 0 523322 931173 0 0 0 0 359721 391867 0 0 74837 210265 194876 569986 586743 -46664 344430 5357107 5856826 21397 27906 5335710 5828920 THE MISSION OF THE LAKE CHAMPLAIN LAND TRUST IS TO SAVE THE SCENIC BEAUTY, NATURAL COMMUNITIES, AND RECREATIONAL AMENITIES OF LAKE CHAMPLAIN BY PERMANENTLY PRESERVING SIGNIFICANT ISLANDS, SHORELINE AREAS, AND NATURAL COMMUNITIES IN THE CHAMPLAIN REGION. 0 0 468915 TO ENCOURAGE CONSERVATION OF LAND AROUND LAKE CHAMPLAIN. ACCOMPLISHED THROUGH THE ACQUISITION OF LAND AND CONSERVATION EASEMENTS AND STEWARDSHIP. CONSERVATION ALSO PROMOTES THROUGH EDUCATING THE PUBLIC ABOUT THE BENEFITS OF CONSERVATION AND CONNECTING PEOPLE TO THE LAND THROUGH HIKES AND EDUCATIONAL PROGRAMS. 468915 1 1 0 0 0 0 1 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X CHRIS BOGET 8028624150 ONE MAIN STREET 205 BURLINGTON VT 05401 KAREN CADY CHAIR 1.00 X X 0 0 0 DR CHRIS BARTELS VICE CHAIR 1.00 X X 0 0 0 DON KINNESTON TREASURER 1.00 X X 0 0 0 SARAH JOHNSON-BROWN SECRETARY 1.00 X X 0 0 0 TOM BROWNELL TRUSTEE 1.00 X 0 0 0 DR STEPHEN PAYNE TRUSTEE 1.00 X 0 0 0 BILL RILEY TRUSTEE 1.00 X 0 0 0 DR MARIETTA SCHOLTEN TRUSTEE 1.00 X 0 0 0 RICK STONER TRUSTEE 1.00 X 0 0 0 CHRIS BOGET EXECUTIVE DIRECTOR 40.00 X 178135 0 13510 178135 0 13510 1 0 1 0 0 320952 205537 526489 142355 142355 713105 450776 262329 262329 262329 931173 0 0 404684 191645 168844 8841 13960 103893 91532 4793 7568 8200 7224 379 597 67286 59281 3103 4902 20843 18363 962 1518 12585 12585 25276 25276 8672 8672 52297 4371 5439 42487 14650 12907 676 1067 1215 1215 4369 3849 202 318 1417 1417 9568 8430 441 697 LAND ACQUISITIONS 36117 36117 OUTSIDE SERVICES 9035 9035 DUES 5700 5022 263 415 MONITORING EXPENSE 5249 5249 8726 3528 3890 1308 586743 468915 42991 74837 161604 190845 551743 695095 10000 25000 995 995 301256 16605 283374 284651 4349091 4659940 300 300 5357107 5856826 21397 27906 21397 27906 X 4804099 5305309 531611 523611 5335710 5828920 5357107 5856826 344430 148780 0 X 0 1 X 1 0 X 1017313 589959 478403 339811 526489 2951975 1017313 589959 478403 339811 526489 2951975 789005 2162970 59210 65136 91962 125888 142355 484551 16086 16086 3452612 0.62650 0.66900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 74 11493.00 0 0 0 2 1 785.00 50546 1887667 0 236278 84724 2039221 1660822 20000 290756 83911 1887667 2109736 -364979 83935 1660822 1823494 6000 280242 2109736 1665708 6000 151786 1823494 0.74950 0.25050 0.00000 0 0 280591 280591 20665 16605 4060 284651 FIXED INCOME SECURITIES 1292509 F EQUITIES 2865998 F BONDS 312597 F EXCHANGE-TRADED FUNDS 3609 F OTHER PUBLICLY TRADED SECURITIES 185227 F 4659940 X 1083220 148780 900 2367 152047 931173 0 931173 590010 900 2367 3267 586743 0 586743 PART II, LINE 9: LAND HELD FOR RESALE HAS BEEN VALUED AT COST, OR IF DONATED, AT THE ESTIMATED FAIR VALUE ON THE DATE OF THE RECEIPT. IN ACCORDANCE WITH THE PROVISIONS OF FASB ASC 360, ACCOUNTING FOR THE IMPAIRMENT OR DISPOSAL OF LONG-LIVED ASSETS, THE TRUST RECORDS LAND AND LAND EASEMENTS AT FAIR VALUE BASED UPON THE ESTIMATED FUTURE CASH FLOWS TO RESULT FROM THE USE OF THE ASSET. SINCE LAND AND LAND EASEMENTS HELD BY THE TRUST ARE NOT EXPECTED TO GENERATE SIGNIFICANT FUTURE CASH FLOWS, THEY HAVE BEEN VALUED AT $1 IN THE STATEMENT OF FINANCIAL POSITION. COSTS TO ACQUIRE SUCH LAND ARE EXPENSED AS INCURRED AND INCLUDED IN LAND ACQUISITION COSTS ON THE SCHEDULE OF FUNCTIONAL EXPENSES. PART V, LINE 4: THE TRUST'S ENDOWMENT FUND WAS CREATED BY THE TRUST IN 1980 TO COVER ANNUAL LAND STEWARDSHIP COSTS ON PROPERTIES CONSERVED BY THE TRUST. PART X, LINE 2: FASB ASC 740, INCOME TAXES, REQUIRES ENTITIES TO DISCLOSE IN THEIR FINANCIAL STATEMENTS THE NATURE OF ANY UNCERTAINTY IN THEIR TAX POSITIONS. FOR TAX EXEMPT ENTITIES, TAX EXEMPT STATUS ITSELF IS DEEMED TO BE AN UNCERTAINTY, AS EVENTS COULD POTENTIALLY OCCUR TO JEOPARDIZE THEIR TAX EXEMPT STATUS. MANAGEMENT BELIEVES THE TRUST HAS NO UNCERTAIN TAX POSITIONS. THE TRUST ANTICIPATES THAT IT WILL NOT HAVE A CHANGE IN UNCERTAIN TAX POSITIONS DURING THE NEXT TWELVE MONTHS THAT WOULD HAVE A MATERIAL IMPACT ON THE TRUST'S FINANCIAL STATEMENTS. IF NECESSARY THE TRUST WOULD ACCRUE INTEREST AND PENALTIES ON UNCERTAIN TAX POSITIONS AS A COMPONENT OF THE PROVISION FOR INCOME TAXES. THE TRUST IS NO LONGER SUBJECT TO FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE THE TAX YEAR ENDED DECEMBER 31, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 2,367. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 2,367. X 0 0 0 0 0 0 0 0 0 CHRIS BOGET EXECUTIVE DIRECTOR 135098 0 20000 0 23037 0 13510 0 0 0 191645 0 0 0 PART I, LINE 3 COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED ANNUALLY AT THE END OF THE YEAR DURING A BOARD OF DIRECTORS MEETING IN WHICH THE EXECUTIVE DIRECTOR IS NOT PRESENT. THE BOARD USES DETAILED ANNUAL REPORTS AND COMPLETES A PERFORMANCE REVIEW ON THE EXECUTIVE DIRECTOR TO HELP DETERMINE COMPENSATION. THE BOARD ALSO USED COMPENSATION COMPARISONS FROM OTHER SIMILAR ORGANIZATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD AND COMMITTEE MEMBERS WILL, ON AN ANNUAL BASIS, DISCLOSE ON AN APPROPRIATE FORM, ANY SIGNIFICANT PROFESSIONAL, CONTRACTUAL OR POTENTIAL FINANCIAL AND/OR FIDUCIARY INTERESTS THAT MAY BRING HER/HIM IN CONFLICT WITH THE LAND TRUST INTERESTS. SIMILARLY, WHEN NOMINATED FOR OFFICE, PROSPECTIVE TRUSTEES SHOULD DISCLOSE TO THE ORGANIZATION ANY PERSONAL AFFILIATIONS THAT COULD BE CONSTRUED TO BE RELATED TO THE LAKE CHAMPLAIN LAND TRUST AND ITS ACTIVITIES. THESE FORMS SHALL BE REVIEWED BY THE BOARD CHAIR AND KEPT ON RECORD IN THE LAND TRUST OFFICE. IN THE EVENT THAT THERE IS A DISAGREEMENT BETWEEN A TRUSTEE AND ANOTHER TRUSTEE AS TO THE EXISTENCE OF A CONFLICT OF INTEREST, THE DISAGREEMENT WILL BE RESOLVED BY A VOTE OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED ANNUALLY AT THE END OF THE YEAR DURING A BOARD OF DIRECTORS MEETING IN WHICH THE EXECUTIVE DIRECTOR IS NOT PRESENT. THE BOARD USES DETAILED ANNUAL REPORTS AND COMPLETES A PERFORMANCE REVIEW ON THE EXECUTIVE DIRECTOR TO HELP DETERMINE COMPENSATION. THE BOARD ALSO USED COMPENSATION COMPARISONS FROM OTHER SIMILAR ORGANIZATIONS. KEY EMPLOYEES WAGES ARE DETERMINED AND SET BY THE EXECUTIVE DIRECTOR AT HIS DISCRETION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS CONFLICT OF INTEREST POLICY AND BYLAWS ON ITS WEBSITE. OTHER GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.