Beaverkill Valley Land Trust Inc

“Patricia adams, secretary of the beaverkill valley land trust, has a family relationship with john adams, who is the chairman of the open space institute, 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 the staff review, the return 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.”

“Beaverkill valley land trust, inc. ("bvlt") has a conflict of interest policy which requires all interested persons to disclose conflicts and potential conflicts as soon as they arise. Once a conflict or potential conflict has been disclosed, the interested person may not discuss the transaction that is the basis of such conflict, and must recuse himself or herself from any 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.”

“Beaverkill valley land trust, inc. Is a supporting organization of open space institute, inc. ("osi") and prepares consolidated financial statements with osi. Four of osi's employees serve as non-board officers of bvlt and render services to bvlt in furtherance of its exempt mission. Osi allocates an appropriate portion of the salaries paid to these four employees to bvlt. The salaries of the osi employees are determined by osi's compensation committee working with an independent compensation consultant, and the determination of such salaries included comparability data and a contemporaneous substantiation of the deliberation and decision.”

“Beaverkill valley land trust, inc. 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.”

“The audit committee of open space institute, inc., a supported organization of the beaverkill valley land trust, inc., is also the audit committee of the beaverkill valley land trust 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.”