2015-11-16T10:28:30-06:00 2014-12-31 030327374 MCSOLEY MCCOY & CO 118 TILLEY DRIVE STE 202 SOUTH BURLINGTON VT 05403 990 2014-01-01 030267331 LAKE CHAMPLAIN LAND TRUST INC LAKE 8028624150 ONE MAIN STREET NO 205 BURLINGTON VT 05401 CHRIS BOGET EXECUTIVE DIRECTOR 8028624150 2015-11-16 1 CONNIE FELLION P01875413 8026581808 2014 2016-02-25 16:41:14Z CHRIS BOGET ONE MAIN STREET NO 205 BURLINGTON VT 05401 634870 0 X WWW.LCLT.ORG X 1978 VT NATIONALLY ACCREDITED LAND CONSERVATION TRUST 8 8 3 65 0 0 420445 322768 0 0 143895 67403 1 0 564341 390171 0 0 0 0 163948 173866 0 0 16359 118791 225240 282739 399106 281602 -8935 2537116 2287558 19507 17455 2517609 2270103 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 358150 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. 358150 1 1 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 7 0 3 1 0 0 0 0 0 0 0 0 0 0 X 8 8 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 BURLINGTON VT 05401 BECKY WANG TREASURER 0.00 X X 0 0 0 KAREN CADY DIRECTOR 0.00 X 0 0 0 STEPHEN PAYNE DIRECTOR 0.00 X 0 0 0 DAVID RAPHAEL DIRECTOR 0.00 X 0 0 0 DEE CARLIN SECRETARY 0.00 X X 0 0 0 BETH MONTUORI ROWLES CHAIR 0.00 X X 0 0 0 PAUL RUOFF VICE CHAIR 0.00 X X 0 0 0 CHRIS BOGET EXECUTIVE DIRECTOR 40.00 X 85136 0 28050 85136 0 28050 0 0 0 0 0 82136 240632 27182 322768 17361 17361 294741 244699 50042 50042 50042 390171 0 0 67403 113186 100192 5456 7538 47308 41877 2274 3157 3155 2792 151 212 10217 9502 715 7450 7450 6701 6701 3863 3347 516 5479 5479 1484 1083 319 82 12651 11199 609 843 1117 1117 3327 1959 1221 147 2027 2027 4874 3039 1606 229 LAND ACQUISITIONS 153642 153642 OUTSIDE SERVICES 7285 7285 POSTAGE 4755 2509 2246 DUES 3163 2800 152 211 7422 3627 2816 979 399106 358150 24597 16359 48308 103996 607956 536596 164750 105000 995 995 21455 19106 4376 2349 1152640 1351467 558091 187155 2537116 2287558 19507 17455 19507 17455 X 2003617 1846846 158795 54060 355197 369197 2517609 2270103 2537116 2287558 X -8935 132364 -370936 X X 0 1 X 1 0 X 187791 854770 264195 420445 322768 2049969 187791 854770 264195 420445 322768 2049969 1045746 1004223 14718 16889 20537 18693 17361 88198 2138167 0.46970 0.47270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 50 3749.00 0 13 0 2 1 445.00 26465 1 1152640 6500 192327 1351467 936828 2000 213812 1152640 819030 6000 111798 936828 799501 28795 3000 12266 819030 725271 76907 120470 123147 799501 0.73380 0.26620 0 0 55 55 21400 19106 2294 2349 PUBLICLY TRADED SECURITIES 1351467 F 1351467 DEPOSITS 755 LAND HELD FOR RESALE 186400 187155 X 522535 132364 132364 390171 0 390171 770041 370936 370936 399105 0 399105 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 SIGNFICANT 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 ACQUISTION COSTS ON THE SCHEDULE OF FUNCTIONAL EXPENSES. PART X, LINE 2: LAKE CHAMPLAIN LAND TRUST, INC'S FIN 48 DISCLOSURE IS LOCATED IN NOTE 1 OF THE FINANCIAL STATEMENTS. IT READS "MANAGEMENT BELIEVES THE TRUST HAS NO UNCERTAIN TAX POSITIONS. THE TRUST ANTICIPATES THAT IT WILL NOT HAVE A CHANGE IN UNCERTAIN TAX POSTIONS 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." PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON ASSETS ADJUSTED TO MARKET VALUE 370,936. X 1 27182 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 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 PERFORANCE 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. FORM 990, PART XI, LINE 9: LOSS ON ASSETS ADJUSTED TO MARKET VALUE -370,936. PART XI, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS METHODS OF OVERSIGHT FROM PRIOR YEARS. THE BOARD OF DIRECTORS OVERSEES THE AUDIT.