Beaverkill Valley Land Trust Inc

“Our 990 is prepared by an outside independent accounting firm. The draft form 990 is reviewed by the controller, chief financial officer, & general counsel. After staff review the return it is then reviewed by the audit committee. The reviewed and corrected 990 form is then sent out to all the trustees of the organization for their review and comments. The return is filed once all parties have completed their review and any required edits have been made.”

“Bvlt has a conflict of interest policy which requires all interested persons to disclose conflicts and potential conflicts as soon as they arise. The conflicted party may not discuss the transaction that is the basis of such conflict, and must recuse himself or herself from any discussion or vote on such transaction. The president each year reports to the board of trustees all conflict transactions and how they were handled. The board of bvlt has the power to take remedial action if the conflict policy is violated.”

“Bvlt makes its governing documents, conflict of interest policy, whistleblower policy, document retention and destruction policy and financial statements available to the general public. These documents are sent to anyone who contacts the organization and requests such information.”

“Consulting: program service expenses 23,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,000.”

“Impairment of land -201,459. Rounding adjustment 1.”

“The audit committee of osi, a supported organization of the beaverkill valley land trust, inc., is also the audit committee of the bvlt and is responsible for the oversight of its financial statements and selection of its independent accountant. On an annual basis, the audit committee reviews the report to the audit committee prepared by our outside auditors and the consolidated financial statements of our organization. The audit committee periodically reviews, not less than every five years, the need to replace our independent accountant based on certain criteria. The criteria considered include determining if the independent accountant possesses a high level of knowledge of accounting standards and principles, generally, and not for profit accounting knowledge, specifically, and if they can complete the required work in a timely manner at a competitive price.”