Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $210,468

• 3 · Investment income

  total $1,434,853 · excluded $1,434,853

• 6a · Gross rents

  real property $4,000

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $4,000

• 6d · Net rental income or loss

  total $4,000 · excluded $4,000

• 7a · Gross sales of assets other than inventory

  securities $65,241

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

  securities $0

• 7c · Gain or loss

  securities $65,241

• 7d · Net gain or loss

  total $65,241 · excluded $65,241

• 11a · Other revenue: Miscellaneous Income

  total $8,298 · unrelated business $8,298

• 11e · Other revenue, total

  $8,298

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $221,084 · program services $110,542 · management and general $110,542

• 7 · Other salaries and wages

  total $626,944 · program services $371,536 · management and general $204,479 · fundraising $50,929

• 8 · Pension plan contributions

  total $15,083 · program services $9,707 · management and general $3,477 · fundraising $1,899

• 9 · Other employee benefits

  total $87,988 · program services $50,886 · management and general $31,056 · fundraising $6,046

• 10 · Payroll taxes

  total $63,227 · program services $36,075 · management and general $23,238 · fundraising $3,914

• 11a · Fees: management

  total $40,000 · program services $10,606 · management and general $25,142 · fundraising $4,252

• 11b · Fees: legal

  total $10,737 · program services $10,737

• 11c · Fees: accounting

  total $11,004 · management and general $11,004

• 11f · Fees: investment management

  total $10,938 · management and general $10,938

• 11g · Fees: other

  total $6,266 · program services $6,266

• 13 · Office expenses

  total $84,547 · program services $15,299 · management and general $69,248

• 16 · Occupancy

  total $72,743 · program services $29,708 · management and general $43,035

• 17 · Travel

  total $5,971 · program services $757 · management and general $5,214

• 22 · Depreciation, depletion and amortization

  total $7,637 · program services $7,637

• 23 · Insurance

  total $44,357 · program services $44,357

• 24a · Other expenses: Land Project Expenses

  total $7,111,142 · program services $7,111,142

• 24b · Other expenses: Program and Public O/R

  total $726,416 · program services $722,649 · fundraising $3,767

• 24c · Other expenses: Employee Training

  total $5,673 · program services $5,673

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $33,417,014 · end of year $24,642,091

• 3 · Pledges and grants receivable

  end of year $50,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,795,967 · end of year $4,707,612

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

  $4,938,860

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

  $7,637

• 10c · Land, buildings and equipment, net

  beginning of year $4,938,865 · end of year $4,931,223

• 11 · Investments: publicly traded securities

  beginning of year $2,740,848 · end of year $3,117,950

• 15 · Other assets

  beginning of year $0 · end of year $7,311

• 17 · Accounts payable and accrued expenses

  beginning of year $1,968,781 · end of year $657,401

• 25 · Other liabilities

  beginning of year $122,571 · end of year $141,288

• 27 · Net assets without donor restrictions

  beginning of year $7,791,522 · end of year $8,273,672

• 28 · Net assets with donor restrictions

  beginning of year $36,009,820 · end of year $28,383,826

The filer's explanations (Part III)

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, 2024, SHLT recognized $80,000 of expense related to the agreement which is included in the amount reported on part II, column C.

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.

SCHEDULE J, PART II:

GENERAL NOTE ON OFFICERS, DIRECTORS, AND TRUSTEES: The persons listed in Part II of Schedule J perform services for Hudson Highlands Fjord Trail, Inc. (HHFT) in their capacities as employees of Scenic Hudson, Inc. (SH), except for Amy Kacala who is one of eight employees of HHFT. Total compensation to each of such persons is required to be reported on Schedule J by both SH and HHFT notwithstanding that each of these directors and officers are paid directly and only by SH, except for Amy Kacala who was paid by HHFT in 2023. As noted in Schedule R, Part V, HHFT is party to a services agreement with SH pursuant to which SH, among other things, makes the services of such persons available to HHFT. Please refer to Schedule R for more details.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Pollepel Island View LLC

  Operate AirBnB · NY · income $8,298 · assets $1,443,404

  Directly controlled by Hudson Highlands Fjord Trail Inc

Related partnerships

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

• Northside Junction LLC

  Own Property · NY

• Northside Junction Master Tenant LLC

  Leaseholder · NY

Related corporations and trusts

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

• Fall Kill Brookside LLC

  C · Own Property · NY

• Parker Fall Kill LLC

  C · Own Property · NY