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Nonprofiteer
← VERMONT LAND TRUST INC

Form 990 for tax year 2023

Filed by VERMONT LAND TRUST INC.

Totals

Total revenue
$26,704,770
Total expenses
$21,046,713
Contributions and grants received
$23,951,279
Grants paid
$46,000
Program service revenue
$723,979
Investment income
$1,819,670
Other revenue
$209,842
Total assets, end of year
$62,068,678
Total liabilities, end of year
$9,555,604
Net assets or fund balances, end of year
$52,513,074
Program services expenses (Part IX)
$18,903,010
Management and general expenses
$1,601,451
Fundraising expenses
$542,252
Program service expenses (Part III)
$18,903,010

Program services were 89.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $14,688,051

  • 1f · All other contributions, gifts and grants

    $9,263,228

  • 1g · Noncash contributions included above

    $466,674

  • 2a · Program service revenue: VT FOREST CARBON INCOME

    total $704,322 · related or exempt $704,322

  • 2b · Program service revenue: LAND AND TIMBER INCOME

    total $19,657 · related or exempt $19,657

  • 3 · Investment income

    total $710,205 · excluded $710,205

  • 6a · Gross rents

    real property $169,055

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $169,055

  • 6d · Net rental income or loss

    total $169,055 · excluded $169,055

  • 7a · Gross sales of assets other than inventory

    securities $264,110 · other assets $3,290,128

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

    securities $104,773 · other assets $2,340,000

  • 7c · Gain or loss

    securities $159,337 · other assets $950,128

  • 7d · Net gain or loss

    total $1,109,465 · related or exempt $1,109,465

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $22,221 · related or exempt $22,221

  • 11b · Other revenue: STEWARDSHIP INCOME

    total $18,366 · related or exempt $18,366

  • 11c · Other revenue: MERCHANDISE SALES

    total $200 · related or exempt $200

  • 11e · Other revenue, total

    $40,787

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $31,000 · program services $31,000

  • 2 · Grants to domestic individuals

    total $15,000 · program services $15,000

  • 5 · Compensation of officers, directors and key employees

    total $674,309 · program services $401,189 · management and general $238,628 · fundraising $34,492

  • 7 · Other salaries and wages

    total $2,583,153 · program services $2,155,147 · management and general $236,758 · fundraising $191,248

  • 8 · Pension plan contributions

    total $74,578 · program services $66,033 · management and general $6,234 · fundraising $2,311

  • 9 · Other employee benefits

    total $888,890 · program services $726,574 · management and general $100,721 · fundraising $61,595

  • 10 · Payroll taxes

    total $287,665 · program services $228,237 · management and general $39,688 · fundraising $19,740

  • 11b · Fees: legal

    total $51,098 · program services $51,098

  • 11c · Fees: accounting

    total $60,500 · program services $40,413 · management and general $20,087

  • 11e · Fees: professional fundraising services

    total $106,266 · fundraising $106,266

  • 11f · Fees: investment management

    total $118,376 · program services $72,789 · management and general $27,822 · fundraising $17,765

  • 11g · Fees: other

    total $885,458 · program services $591,474 · management and general $293,984

  • 12 · Advertising and promotion

    total $49,485 · program services $30,428 · management and general $11,631 · fundraising $7,426

  • 13 · Office expenses

    total $190,932 · program services $118,473 · management and general $44,521 · fundraising $27,938

  • 14 · Information technology

    total $47,059 · program services $28,937 · management and general $11,060 · fundraising $7,062

  • 16 · Occupancy

    total $361,757 · program services $194,824 · management and general $155,770 · fundraising $11,163

  • 17 · Travel

    total $88,236 · program services $80,396 · management and general $4,367 · fundraising $3,473

  • 19 · Conferences, conventions and meetings

    total $27,190 · program services $16,719 · management and general $6,391 · fundraising $4,080

  • 20 · Interest

    total $85,811 · program services $13,109 · management and general $72,702

  • 22 · Depreciation, depletion and amortization

    total $247,149 · program services $80,647 · management and general $166,502

  • 23 · Insurance

    total $109,735 · program services $19,843 · management and general $89,892

  • 24a · Other expenses: DEVELOPMENT RIGHTS

    total $12,601,857 · program services $12,601,857

  • 24b · Other expenses: PROJECT FEASIBILITY

    total $472,335 · program services $472,335

  • 24c · Other expenses: COST OF LAND AND TIMBER

    total $327,354 · program services $327,354

  • 24d · Other expenses: OTHER OPERATING EXPENSE

    total $299,469 · program services $184,143 · management and general $70,384 · fundraising $44,942

  • 24e · All other expenses

    total $362,051 · program services $354,991 · management and general $4,309 · fundraising $2,751

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,040,143 · end of year $642,446

  • 2 · Savings and temporary cash investments

    beginning of year $7,981,210 · end of year $10,364,112

  • 3 · Pledges and grants receivable

    beginning of year $1,977,196 · end of year $2,515,014

  • 4 · Accounts receivable

    beginning of year $31,230 · end of year $2,645

  • 7 · Other notes and loans receivable

    beginning of year $58,008 · end of year $32,105

  • 8 · Inventories for sale or use

    beginning of year $110,620 · end of year $107,601

  • 9 · Prepaid expenses and deferred charges

    beginning of year $100,491 · end of year $76,077

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

    $14,499,907

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

    $2,888,853

  • 10c · Land, buildings and equipment, net

    beginning of year $13,836,362 · end of year $11,611,054

  • 11 · Investments: publicly traded securities

    beginning of year $9,294,049 · end of year $15,968,597

  • 12 · Investments: other securities

    beginning of year $849,128 · end of year $986,509

  • 13 · Investments: program-related

    beginning of year $991,831 · end of year $655,190

  • 15 · Other assets

    beginning of year $16,886,712 · end of year $19,107,328

  • 17 · Accounts payable and accrued expenses

    beginning of year $861,020 · end of year $503,006

  • 18 · Grants payable

    beginning of year $2,077,105 · end of year $2,077,105

  • 19 · Deferred revenue

    end of year $2,943

  • 23 · Secured mortgages and notes payable

    beginning of year $4,903,024 · end of year $5,615,133

  • 25 · Other liabilities

    beginning of year $798,505 · end of year $1,357,417

  • 27 · Net assets without donor restrictions

    beginning of year $16,846,494 · end of year $18,233,659

  • 28 · Net assets with donor restrictions

    beginning of year $27,670,832 · end of year $34,279,415

Mission and programs · 2023

Mission

ROOTED IN VERMONT SINCE 1977, THE VERMONT LAND TRUST UNITES LAND AND LIVES FOR THE ENDURING BENEFIT OF PEOPLE AND THE PLACE WE SHARE. WE HELP PEOPLE PROTECT, CARE FOR, AND CONNECT TO LAND. THIS INCLUDES THE FARMS, FORESTS, NATURAL AREAS, AND COMMUNITY SPACES THAT DEFINE US.

Activities or mission (Part I)

TO CONSERVE LAND FOR THE FUTURE OF VERMONT.

  • LAND PROTECTIONIN PARTNERSHIP WITH LANDOWNERS AND COMMUNITIES, WE CONSERVE LAND AND ENSURE ITS CONTINUED PROTECTION. OVER THE PAST FORTY-SEVEN YEARS WE HAVE PROTECTED OVER 647,000 ACRES, OR 11% OF THE STATE. THIS INCLUDES OVER A THOUSAND WORKING FARMS, 440,000 ACRES OF PRODUCTIVE FORESTLAND, AND 1,400 MILES OF STREAMS. OUR WORK SUPPORTS RURAL LIVELIHOODS AND LOCAL ECONOMIES, THE HEALTH AND WELLBEING OF VERMONTERS AND VISITORS, AND HUNDREDS OF PLANT AND ANIMAL SPECIES THAT CALL VERMONT HOME. WE ENSURE THE ONGOING PROTECTION OF THIS LAND IN PARTNERSHIP WITH OVER 2,000 LANDOWNERS. THROUGH REGULAR EDUCATION AND MONITORING, WE UPHOLD THE CONSERVATION EASEMENTS THAT RESTRICT DEVELOPMENT AND WORK WITH LANDOWNERS TO IMPROVE THE HEALTH AND VIABILITY OF THEIR LANDS.

    Expenses $14,890,060 · Grants $46,000 · Revenue $222,916

  • INVESTING IN PLACETO STRENGTHEN CONNECTIONS BETWEEN PEOPLE AND LAND, CATALYZE FARM AND FOREST BUSINESSES, AND BROADEN LAND ACCESS, WE OWN LAND FOR SHORT OR LONG PERIODS OF TIME. TODAY, WE OWN FOUR FLAGSHIP PROPERTIES AND A HANDFUL OF OTHER PROPERTIES THAT BRING PEOPLE ON TO LAND. THESE PLACES SUPPORT COMMUNITY GARDENS, MULTI-USE TRAILS, AGRICULTURAL ENTERPRISES, FORESTRY DEMONSTRATION PROJECTS, AND EDUCATIONAL OPPORTUNITIES. PROGRAMMING ON THESE LANDS IS DONE IN CLOSE COLLABORATION WITH LOCAL SCHOOLS, BUSINESSES, AND VOLUNTEERS. ADDITIONALLY, TO ADVANCE AFFORDABLE ACCESS TO FARMLAND, WE SOMETIMES BUY AND TRANSFER FARMLAND USING CONSERVATION AS A TOOL TO MAKE LAND MORE AFFORDABLE FOR THE NEXT GENERATION OF FARMERS. USING THIS APPROACH, WE HAVE HELPED OVER 100 FARMERS BUY LAND AND GROW THEIR BUSINESSES.

    Expenses $3,366,830 · Revenue $14,292

  • THE BREWSTER UPLANDS CONSERVATION TRUST IS AN ENTITY THAT SUPPORTS THE MANAGEMENT OF 1,000+ ACRES FOR PUBLIC ACCESS, FARMING AND EDUCATIONAL PURPOSES.

    Expenses $110,584 · Revenue $2,683

  • ATLAS TIMBERLAND PROJECTTHE ATLAS TIMBERLANDS PROJECT IS A JOINT UNDERTAKING OF THE VERMONTLAND TRUST AND THE NATURE CONSERVANCY. TOGETHER, THE TWO ORGANIZATIONSOWN AND MANAGE APPROXIMATELY 5,230 ACRES OF TIMBERLAND IN THE NORTHERNGREEN MOUNTAINS. THE MANAGEMENT OF THIS LAND PROVIDES DIRECT EXPERIENCEWITH THE CHALLENGES OF OWNING AND MANAGING TIMBERLAND FOR ECONOMIC ANDBIODIVERSITY VALUES. THIS EXPERIENCE HAS A DIRECT IMPACT ON OUR ABILITYTO UNDERSTAND AND ADDRESS CONCERNS OF OWNERS OF CONSERVED TIMBERLAND.ALL OF THE LAND IS OPEN TO THE PUBLIC FOR HIKING, HUNTING, AND OTHERNON-MOTORIZED RECREATION.

    Expenses $170,216 · Revenue $727,212

  • VERMONT FOREST CARBONVERMONT FOREST CARBON IS A PILOT PROJECT TO AGGREGATE SMALL, SEPERATELYOWNED, INDIVIDUAL PARCELS OF FOREST LAND FOR CARBON STORAGESEQUESTRATION TO PROVIDE A BROADER SET OF LANDOWNERS ACCESS TO CARBON MARKETS.

    Expenses $365,320 · Revenue $704,322

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Abbie Corse

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Carolyn Gilbert

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Charlie Hancock

    VICE CHAIR

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Cheryl Morse

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Hannah Sessions

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jean Hamilton

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jess Phelps

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jessica Estes

    BOARD SECRETARY

    Total calculated
    $74,051
    From this org
    $64,368
    From related orgs
    $0
    Other
    $9,683
    Hours/week
    40

  • John Kassel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Laggis

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Maria Young

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Meriwether Hardie

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mike Donohue

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ramsey Luhr

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • William Keeton

    TRUSTEE

    Total calculated
    $575
    From this org
    $575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Abby White

    VP FOR ENGAGEMENT

    Total calculated
    $132,059
    From this org
    $128,971
    From related orgs
    $0
    Other
    $3,088
    Hours/week
    40

  • Lynn Ellen Schimoler

    VP FOR OPERATIONS- OUTGOING

    Total calculated
    $125,733
    From this org
    $108,532
    From related orgs
    $0
    Other
    $17,201
    Hours/week
    40

  • Tracy Zschau

    PRESIDENT AND CEO

    Total calculated
    $155,041
    From this org
    $143,186
    From related orgs
    $0
    Other
    $11,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,186
    Bonus
    $0
    Other
    $0
    Deferred
    $3,416
    Nontaxable benefits
    $8,439
    Filer's total
    $155,041

  • Tyler Miller

    VP FOR LAND ACTIVATION

    Total calculated
    $125,354
    From this org
    $101,116
    From related orgs
    $0
    Other
    $24,238
    Hours/week
    40

  • David Morrisey

    DIRECTOR OF FINANCE- OUTGOING

    Total calculated
    $125,822
    From this org
    $123,140
    From related orgs
    $0
    Other
    $2,682
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

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

  • BREWSTER UPLANDS CONSERVATION TRUST LLC

    MANAGE A 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES · VT · income $231,230 · assets $1,832,664

    Directly controlled by VERMONT LAND TRUST INC

  • VERMONT FOREST CARBON LLC

    CARBON SEQUESTRATION · VT · income $704,322 · assets $9,899

    Directly controlled by VERMONT LAND TRUST INC

Provenance

Return type
form_990
Tax year
2023
Filed
16 April 2025
IRS schema version
2023v6.0
Source object
202511069349301011

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