Civic Intelligence

Freeport Conservation Trust

990 • Fiscal year 2020 • EIN 01-0357213

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 22, 2021

PO Box 433Freeport, ME 04032

(207) 856-3985

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

98th percentile

89%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

42nd percentile

$29,484

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

75th percentile

24%

Faster asset growth than 75% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

90th percentile

76%

Faster revenue growth than 90% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$3,919,382

Up $757,020 (+24%) from 2019

Net Assets

Up

$3,919,382

Up $757,020 (+24%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Up

$704,261

Up $303,367 (+76%) from 2019

Expenses

Up

$74,649

Up $6,671 (+9.8%) from 2019

Net Income

Up

$629,612

Up $296,696 (+89%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $2,752,358Liabilities 2011: $0Net Assets 2011: $2,752,3582011Assets 2012: $2,844,129Liabilities 2012: $0Net Assets 2012: $2,844,1292012Assets 2013: $2,955,649Liabilities 2013: $0Net Assets 2013: $2,955,6492013Assets 2014: $2,045,987Liabilities 2014: $0Net Assets 2014: $2,045,9872014Assets 2015: $2,418,771Liabilities 2015: $427Net Assets 2015: $2,418,3442015Assets 2016: $2,485,636Liabilities 2016: $0Net Assets 2016: $2,485,6362016Assets 2017: $2,661,721Liabilities 2017: $0Net Assets 2017: $2,661,7212017Assets 2018: $2,659,603Liabilities 2018: $0Net Assets 2018: $2,659,6032018Assets 2019: $3,162,362Liabilities 2019: $0Net Assets 2019: $3,162,3622019Assets 2020: $3,919,382Liabilities 2020: $0Net Assets 2020: $3,919,3822020Assets 2021: $4,186,716Liabilities 2021: $0Net Assets 2021: $4,186,7162021Assets 2022: $3,949,395Liabilities 2022: $20,509Net Assets 2022: $3,928,8862022Assets 2023: $4,179,307Liabilities 2023: $11,471Net Assets 2023: $4,167,8362023Assets 2024: $4,510,709Liabilities 2024: $19,059Net Assets 2024: $4,491,6502024Assets 2025: $6,366,283Liabilities 2025: $15,822Net Assets 2025: $6,350,4612025

Highlighted filing

2020

Assets$3,919,382
Liabilities$0
Net Assets$3,919,382

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0Revenue 2011: $63,261Expenses 2011: $50,098Net Income 2011: $13,1632011Revenue 2012: $120,583Expenses 2012: $63,085Net Income 2012: $57,4982012Revenue 2013: $128,539Expenses 2013: $62,495Net Income 2013: $66,0442013Revenue 2014: $119,744Expenses 2014: $66,557Net Income 2014: $53,1872014Revenue 2015: $957,293Expenses 2015: $575,941Net Income 2015: $381,3522015Revenue 2016: $369,580Expenses 2016: $343,757Net Income 2016: $25,8232016Revenue 2017: $163,969Expenses 2017: $69,999Net Income 2017: $93,9702017Revenue 2018: $125,547Expenses 2018: $83,030Net Income 2018: $42,5172018Revenue 2019: $400,894Expenses 2019: $67,978Net Income 2019: $332,9162019Revenue 2020: $704,261Expenses 2020: $74,649Net Income 2020: $629,6122020Revenue 2021: $199,206Expenses 2021: $130,151Net Income 2021: $69,0552021Revenue 2022: $224,704Expenses 2022: $175,526Net Income 2022: $49,1782022Revenue 2023: $214,662Expenses 2023: $199,414Net Income 2023: $15,2482023Revenue 2024: $295,256Expenses 2024: $210,191Net Income 2024: $85,0652024Revenue 2025: $484,353Expenses 2025: $254,490Net Income 2025: $229,8632025

Highlighted filing

2020

Revenue$704,261
Expenses$74,649
Net Income$629,612
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 22, 2021
Return Version
2020v4.0
Gross Receipts
$726,908
Mission and Program Overview

Mission

To protect, preserve and connect open space lands and provide public access to natural areas in Freeport, including forests, farmland, scenic vistas, wildlife habitat, and shoreland.

FCT's mission is to protect, preserve and connect open space lands and provide public access to natural areas in Freeport, including forests, farmland, scenic vistas, wildlife habitat and shoreland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,010,292$2,508,153▲ $497,861
Investments in Publicly Traded Securities$1,022,485$1,227,280▲ $204,795
Savings and Temporary Cash Investments$75,970$146,409▲ $70,439
Cash and Non-Interest-Bearing Accounts$53,615$37,540▼ $16,075
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,162,362$3,919,382▲ $757,020
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,876,054$2,824,084▲ $948,030
Net Assets Without Donor Restrictions$1,286,308$1,095,298▼ $191,010
Total Net Assets Fund Balance$3,162,362$3,919,382▲ $757,020
Total Liabilities and Net Assets / Fund Balance$3,162,362$3,919,382▲ $757,020

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,495,784-$2,495,784
Leasehold Improvements$10,928$3,972$14,900
Equipment$1,441$2,852$4,293
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Katrina Van DusenExecutive DirectorPT$29,484$29,484

Board Members and Trustees

NameTitle
Ethel WilkersonPresident
Kate OlsonVice President
Benjamin NilesBoard Member
Jim GrievesBoard Member
John SlavinBoard Member
Kathy BibersteinBoard Member
Kathy DamonBoard Member
Kelly SinkBoard Member
Mason MorfitBoard Member
Polly SmithBoard Member
Toby JacobsBoard Member
Tom BoutureiraBoard Member
Robert StevensClerk
Lauren MacalisterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$653,510
Program Service Revenue
$0
Investment Income
$50,751
Other Revenue
$0
All Other Contributions
$632,010
Change in Net Assets
$629,612

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Qualified Contrib Other1$343,000Appraisal
Securities Publicly Traded1$10,062Fair Market Value (FMV)
Total Noncash Contributions2$353,062-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$38,684
Other Expenses$35,965
Total Fundraising Expense$14,908
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$17,690$5,897$5,897$29,484
Occupancy$3,932$1,569$1,699$7,200
Other Salaries and Wages$1,935$1,935$2,581$6,451
Fees for Services Other$3,098$1,117$1,209$5,424
All Other Expenses$3,910$428$20$4,358
Insurance$2,177$316$322$2,815
Payroll Taxes$1,501$599$649$2,749
Other Expenses$2,197$512$554$2,197
Fees for Services Accounting$517$916$223$1,656
Office Expenses$340$254$787$1,381
Depreciation Depletion-$1,267-$1,267
Information Technology$129$148$56$333
Fees for Service Investment Mgmnt Fees-$100-$100
Total Functional Expenses$43,841$15,900$14,908$74,649
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Prior to filing, the Form 990 is made available to all board members for review and comment. The 990 is circulated in draft form by email and a hard copy is available in the office.The Form 990 is brought to the monthly board meeting for discussion if necessary. The board is allowed two weeks for review and comment before it is filed.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board members are required to read and sign the Conflict of Interest policy which obligates them to report any conflicts as defined by said policy.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The executive director's position is reviewed annually by the President, Vice President and Treasurer for performance and compensation. The President of the Board administers a formal performance evaluation with solicited input from other board members. Compensation is reviewed and compared with standards in similar non-profit organizations. Compensation is approved by the full board based on the recommendation of the executive committee.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Freeport Conservation Trust
EIN
01-0357213
Phone
2078563985
Address
PO BOX 433, FREEPORT, ME 04032

Signing Officer

Name
Lauren Macalister
Title
Treasurer
Signed
2021-07-22
Discuss with paid preparer
Yes

Organization Details

Formed
1977
Legal Domicile
Me
Voting Board Members
14
Independent Board Members
14
Employees
2
Volunteers
40

Preparer

Firm
Tracy Cassidy CPA Sc
Address
1 Nugget Ln, BRUNSWICK, ME 04011
Preparer
Tracy Cassidy CPA
Phone
2075221014
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Organizational Strength and FundraisingFCT continues to create, refine, revise and update its policies to strengthen our operations. Over the last year we developed a Stewardship Manual and completed the re-organization of all property files in accordance with national land trust standards. Our bookkeeping has been moved online, allowing us more flexibility in where we work, as we deal with the pandemic. FCTs fundraising activities include pursuing grants, usually in support of land protection projects, and cultivating generous individual donors. A year-end annual appeal raises funds for operations and land protection projects. Last springs Hike Freeport campaign was targeted at turning new trail users into FCT financial supporters; donors received a Hike Freeport pin. FCT also recruits and sustains Business Partners. FCT staff and board participate in a variety of regional and statewide activities and committees related to land conservation, including forming the Greater Portland Conservation and Trails Initiative and serving on the Maine Land Trust Network Steering Committee. The Executive Directors of several greater Portland land trusts, including FCT, collaborated to publish an op-ed column in the Portland Press Herald in May.

Financial Statement Notes

Part II, Line 5: Summarized Policy

Lands held in fee are recorded as assets on the balance sheet. When purchased at cost, the price paid plus costs associated with acquisition becomes the recorded value. For property that has been donated, the valuation is based on fair market value as reported by an independent appraisal.each property of which fct holds an easement or owns in fee is assigned a steward who completes an annual inspection and files an annual inspection form. The steward reports violations to the stewardship chair who in turn brings them to the board for discussion. The trust has in place a strategy to secure financial and legal resources for enforcement and defense.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
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IRS990/MissionDesc0FCT's mission is to protect, preserve and connect open space lands and provide public access to natural areas in Freeport, including forests, farmland, scenic vistas, wildlife habitat and shoreland.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Land protectionFreeport Conservation Trust (FCT) acquired three properties and an easement in 2020. In June, we received 9.63 acres from the estate of Horace Hildreth. The property is adjacent to FCTs Powell Point Preserve and will make a nice addition to the preserve. In February, FCT acquired 5 acres and an easement on an adjacent 15 acres from the estate of Elizabeth Simpson. This project protects a stream and offers a trail in a neighborhood that previously had no conserved land. In December, FCT acquired 12.7 acres on the Cousins River. To be known as the Walsh Preserve, there are short trails to dramatic marsh overlooks. This acquisition was made possible with grants from the North American Wetland Conservation Act via the Appalachian Mountain Club, Davis Conservation Fund, Casco Bay Estuary Program, local businesses and individuals. This acquisition is part of a collaboration between Maine Coast Heritage Trust, Royal River Conservation Trust and FCT to expand conservation of the relatively undeveloped Cousins River and marsh. It is a valuable buffer against sea-level rise, important wildlife habitat, and offers an opportunity for low impact public recreation. Over the last 30 years, FCT has been amassing Cousins River frontage. FCT secured two trail permissions from landowners that have allowed new trails to be built, linking existing trails and expanding FCTs trail system.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Community Outreach In March our world was rocked by the coronavirus pandemic. At FCT, we quickly realized that although people from Freeport and the region were staying close to home, they were getting out often, more than ever before, to explore local trails. We stepped up our trail work and outreach, with extra attention to sharing information about trails, keeping the trails clear after spring storms, upgrading trail infrastructure, promoting nature-based activities, and sharing seasonal nature observations. FCT organized the 6th annual Freeport Trail Challenge in September and October 2020: 169 adults, 148 youth and 28 dogs completed the Trail Challenge by taking a hike at four trails around town. Participants came from 20 towns. These numbers are a significant increase over the previous year. FCT modified the challenge to make it safe to participate in a pandemic. Freeport Conservation Trust offers public walks year-round on trails in town. There was a hiatus on public walks last spring, but since the summer we have led numerous walks, including partnering with L.L. Bean and other local organizations. We collaborated with Wolfes Neck Center and Wolfes Neck Woods State Park to publish a new Wolfes Neck Trail map.Although in-person FCT outreach activities did not happen in the spring, in January 2020, local contributors to the book A Dangerous New World, Maine Voices on the Climate Crisis presented at an event organized by FCT and co-sponsored by Freeport Arts & Cultural Alliance. We offer free state park passes through the Freeport Community Library, with the hope of increasing access for people to get outdoors. FCTs annual newsletter was mailed town-wide in the spring. A distanced, in person Annual Meeting was held in September. FCT engages its members and the public throughout the year via email, Facebook and Instagram. FCT board and staff engage with the Town of Freeport municipal government in various ways, which this year included: pursuing the Concord Brook Trail as part of L.L.Beans campus building project, engaging in development review to promote conservation of open space, and coordination and trail work with the Conservation Commission.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.37$0.02$6.35$0.48$0.25$0.23
2024Detailed filing. Detailed filing data is available for this year.$4.51$0.02$4.49$0.30$0.21$0.09
2023Detailed filing. Detailed filing data is available for this year.$4.18$0.01$4.17$0.21$0.20$0.02
2022Detailed filing. Detailed filing data is available for this year.$3.95$0.02$3.93$0.22$0.18$0.05
2021Detailed filing. Detailed filing data is available for this year.$4.19$0.00$4.19$0.20$0.13$0.07
2020Detailed filing. Detailed filing data is available for this year.$3.92$0.00$3.92$0.70$0.07$0.63
2019Detailed filing. Detailed filing data is available for this year.$3.16$0.00$3.16$0.40$0.07$0.33
2018Detailed filing. Detailed filing data is available for this year.$2.66$0.00$2.66$0.13$0.08$0.04
2017Detailed filing. Detailed filing data is available for this year.$2.66$0.00$2.66$0.16$0.07$0.09
2016Detailed filing. Detailed filing data is available for this year.$2.49$0.00$2.49$0.37$0.34$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.42$0.00$2.42$0.96$0.58$0.38
2014Detailed filing. Detailed filing data is available for this year.$2.05$0.00$2.05$0.12$0.07$0.05
2013Detailed filing. Detailed filing data is available for this year.$2.96$0.00$2.96$0.13$0.06$0.07
2012Summary only. Only limited summary data is available for this year.$2.84$0.00$2.84$0.12$0.06$0.06
2011Summary only. Only limited summary data is available for this year.$2.75$0.00$2.75$0.06$0.05$0.01