Dunstable Rural Land Trust

“Form 990 is made available to the entire board of trustees prior to filing”

“Annually, all trustees of the governing body receive a letter from the president asking them to reaffirm that they have not been involved in any transactions or have potential conflicts. In the rare occurance that there may be a conflict of interest, the matter is reviewed by independent members of the governing body.”

“Organizational documents are available for review by the public upon written request.”

“Organizational documents are available for review by the public upon written request.”

“Contributions, gifts and grants includes unusual grants as outlined below: the following is an explanation for the "unusual grants" included of $504,450; this amount has not been included in the determination of public support. In 2011, the trust received a bequest of 110 acres of land with two houses and historic barn from an individual having no prior affiation with the trust. (one of the houses was destroyed by fire in june 2018). Subsequent to this bequest, it was discovered that, in fact, the decedent actually owned a 75% interest in the property; the son owning the remaining 25% as a result of his father's passing without a will; the son passed away in december 2015 since 2015; the trust has been working with representatives of the son's estate to acquire that 25% interest. During this process, the trust received unsolicited grants in the amount of $200,000 to restore the historic barn to prevent the necessity to demolish; thus preserving the barn as a community asset rather loosing this asset. $100,000 of the grant was received during this fiscal year and included as income. In anticipation of an ultimate buyout of the heirs; the trust undertook the process to raise funds by selling other properties held, short-term borrowings and eventual sale of portions of the above property owned by the trust and the 25% interest holder. In februrary of 2019; representatives of the estate of the 25% owner and drlt appraised the entire property to determine a value of the 25% interest; the result being a buyout of the 25% interst for $737,500. By mid-june 2019; the trust had accumulated approximately $350,000 from a combination of asset sales, fire insurance proceeds and amounts available from our operating funds. The trust was approached by two foundations expressing an interest in seeing that the dunstable rural land trust be successful in its efforts to achieve 100% ownership in the entire property without the necessity to dispose of portions of the property to raise funds needed to complete the transaction; the balance necessary being $404,450; one foundation contributed $50,000. The second foundation agreed to fund the balance necessary $354,450. Both grants were received prior to the end of july 2019. Neither foundation has any connection to the dunstable rural land trust, nor do they have any imput into the operations of the trust other than that the grant proceeds are specifically restricted to buy-out of the heirs; this is anticipated to be completed by october 31, 2019.”

“Engineering mcloon: program service expenses 4,157. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,157. Appraisal fees: program service expenses 4,900. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,900.”

“Unusual grants rounding 1.”