Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $702,147

• 1d · Related organizations

  $6,400,000

• 1e · Government grants (contributions)

  $143,750

• 1f · All other contributions, gifts and grants

  $11,329,580

• 1g · Noncash contributions included above

  $288,786

• 2a · Program service revenue: Fees (see Schedule O)

  total $3,074,300 · related or exempt $3,074,300

• 3 · Investment income

  total $534,444 · excluded $534,444

• 7a · Gross sales of assets other than inventory

  securities $4,863,728

• 7b · Less cost or other basis and sales expenses

  securities $4,268,356

• 7c · Gain or loss

  securities $595,372

• 7d · Net gain or loss

  total $595,372 · excluded $595,372

• 8a · Fundraising events: gross income

  $49,700

• 8a · Fundraising events: contributions included on line 1c

  $702,147

• 8b · Fundraising events: direct expenses

  $204,955

• 8c · Net income from fundraising events

  total -$155,255 · excluded -$155,255

• 11a · Other revenue: Insurance proceeds

  total $153,835 · related or exempt $153,835

• 11e · Other revenue, total

  $153,835

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $350,000 · program services $350,000

• 5 · Compensation of officers, directors and key employees

  total $1,949,130 · program services $1,093,191 · management and general $404,788 · fundraising $451,151

• 7 · Other salaries and wages

  total $5,081,683 · program services $4,071,044 · management and general $546,434 · fundraising $464,205

• 8 · Pension plan contributions

  total $186,085 · program services $176,473 · management and general $9,517 · fundraising $95

• 9 · Other employee benefits

  total $735,890 · program services $552,613 · management and general $95,789 · fundraising $87,488

• 10 · Payroll taxes

  total $550,140 · program services $393,202 · management and general $76,693 · fundraising $80,245

• 11b · Fees: legal

  total $55,995 · program services $45,646 · management and general $10,349

• 11c · Fees: accounting

  total $11,500 · management and general $11,500

• 11d · Fees: lobbying

  total $180,799 · program services $180,799

• 11f · Fees: investment management

  total $114,103 · management and general $114,103

• 11g · Fees: other

  total $840,268 · program services $817,024 · management and general $6,929 · fundraising $16,315

• 13 · Office expenses

  total $403,626 · program services $283,968 · management and general $46,237 · fundraising $73,421

• 16 · Occupancy

  total $272,264 · program services $220,810 · management and general $18,398 · fundraising $33,056

• 17 · Travel

  total $84,210 · program services $58,632 · management and general $19,478 · fundraising $6,100

• 19 · Conferences, conventions and meetings

  total $65,071 · program services $45,306 · management and general $15,051 · fundraising $4,714

• 22 · Depreciation, depletion and amortization

  total $15,290 · management and general $15,290

• 23 · Insurance

  total $61,990 · program services $50,212 · management and general $4,339 · fundraising $7,439

• 24a · Other expenses: Program/public outreach

  total $706,190 · program services $526,760 · management and general $59,724 · fundraising $119,706

• 24b · Other expenses: Bad debt expense

  total $50,000 · management and general $50,000

• 24c · Other expenses: Ind. fundraising expens

  total $7,063 · fundraising $7,063

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,245 · end of year $2,911,970

• 2 · Savings and temporary cash investments

  beginning of year $6,178,764 · end of year $8,739,309

• 3 · Pledges and grants receivable

  beginning of year $3,530,404 · end of year $5,616,720

• 9 · Prepaid expenses and deferred charges

  beginning of year $134,220 · end of year $127,441

• 10a · Land, buildings and equipment: cost or other basis

  $184,359

• 10b · Land, buildings and equipment: accumulated depreciation

  $135,869

• 10c · Land, buildings and equipment, net

  beginning of year $63,780 · end of year $48,490

• 11 · Investments: publicly traded securities

  beginning of year $13,808,821 · end of year $28,851,028

• 12 · Investments: other securities

  beginning of year $12,396,739

• 13 · Investments: program-related

  beginning of year $920,000 · end of year $920,000

• 15 · Other assets

  beginning of year $1,099,300 · end of year $4,542,905

• 17 · Accounts payable and accrued expenses

  beginning of year $968,004 · end of year $993,231

• 25 · Other liabilities

  beginning of year $0 · end of year $465,003

• 27 · Net assets without donor restrictions

  beginning of year $27,259,540 · end of year $38,060,975

• 28 · Net assets with donor restrictions

  beginning of year $9,908,729 · end of year $12,238,654

The filer's explanations (Part III)

Part I, Line 7

Bonuses are approved by the Board of Directors and Executive Compensation Committee as part of the overall compensation review and approval process, which includes review of peer compensation data and analysis prepared by an independent third-party compensation consultant. See Schedule 0, reference to Form 990, Part VI, Section B, Line 15 for more details.

PART I, LINE 4B:

NOTE ON SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: EDWARD SULLIVAN, PRESIDENT During the year ended June 30, 2020, Scenic Hudson, Inc. ("SH") and Edward Sullivan, President of SH, entered into a long-term employment agreement under IRC Section 457(f). The terms of the agreement run through January 31, 2025 at which time Mr. Sullivan will complete his commitment and receive a one-time lump sum payment of $400,000. Since Mr. Sullivan provides essential services to The Scenic Hudson Land Trust, Inc. ("SHLT"), which has no employees, SHLT has agreed to provide SH with funds sufficient to enable SH to make payments due under the plan. Accordingly, SHLT will recognize this obligation over the term of the agreement. During the year ended June 30, 2023, SHLT recognized $80,000 of expense related to the agreement which is included in the amount reported on part II, column C. ERIN RILEY, SENIOR VICE PRESIDENT During the year ended June 30, 2023, Scenic Hudson, Inc. ("SH") and Erin Riley, Senior Vice President of SH, entered into a long-term employment agreement under IRC Section 457(f). The terms of the agreement run through June 30, 2026 at which time Ms. Riley will complete her commitment and receive a one-time lump sum payment of $275,000. Since Ms. Riley provides essential services to The Scenic Hudson Land Trust, Inc. ("SHLT"), which has no employees, SHLT has agreed to provide SH with funds sufficient to enable SH to make payments due under the plan. Accordingly, SHLT will recognize this obligation over the term of the agreement. During the year ended June 30, 2023, SHLT recognized $55,000 of expense related to the agreement which is included in the amount reported on part II, column C.

Part II, Column B(III):

The amount in this column for certain individuals represents contributions to 457(b) retirement plan, group term life insurance and auto allowance.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Northside Junction LLC

  Own Property · NY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Fall Kill Brookside LLC

  C · Own Property · NY · 100% owned · share of assets $384 · controlled entity

  Directly controlled by Scenic Hudson Inc

• Parker Fall Kill LLC

  C · Own Property · NY