Midcoast Conservancy

“Membership is open to anyone who donates or volunteers for the organization. Membership benefits include discounts at the organization's huts and camps, programs and workshops, free access to the Hidden Valley Nature Center and receipt of a biannual newsletter.”

“The membership annually votes on the entire slate of directors up for a term renewal or to fill vacancies. The directors are responsible for all decisions of the organization.”

“The Finance Committee receives a copy of the 990 and financial statements in advance of a meeting of the committee. The committee reviews the documents in detail and recommends approval by the Board of Directors. The Board of Directors then review and approved the 990 and the financial statements prior to filing of the 990.”

“Each director, officer, employee and committee member shall be provided with and asked to review a copy of Midcoast Conservancy's conflict of interest policy and to acknowledge in writing that he or she has done so. Annually (or more frequently should conflicts arise) each director, officer, employee and committee member shall complete a disclosure form identifying any relationships, positions, or circumstances in which s/he is involved that he or she believes could contribute to a conflict of interest.”

“Compensation process for top officials - Midcoast Conservancy relies on two surveys to determine the compensation for its key employees. One survey produced by the land trust alliance every three years provided summaries of salaries for executive directors and key land trust staff jobs. The data is broken down by region and state when possible. We also review the survey produced by the Maine Association of Nonprofits which comes out annually. The executive director, in consultation with the board, sets the salary for the staff and the executive committee of the board sets the salary for the executive director. Officers of the board are not compensated. The executive director is compensated.”

“Governing documents disclosure explanation - The Midcoast Conservancy's governing documents, conflict of interest policy and financial statements are maintained in the Midcoast Conservancy's office and are available to the public during standard business hours. Midcoast Conservancy's Form 990 is posted on its website as well as on Guidestar.”

“Membership is open to anyone who donates or volunteers for the organization. Membership benefits include discounts at the organization's huts and camps, programs and workshops, free access to the Hidden Valley Nature Center and receipt of a biannual newsletter.”

“The membership annually votes on the entire slate of directors up for a term renewal or to fill vacancies. The directors are responsible for all decisions of the organization.”

“The organization's process to review Form 990 - the finance committee received a copy of the 990 and financial statements in advance of a metting of the committee. The committee reviews the documents in detail and recommends approval by the board of directors. The board of directors then reviews and approved the 990 and the financial statements prior to filing of the 990.”

“Enforcements of conflict of interest policy - each director, officer, employee and committee memebr shall be provided with and asked to review a copy of Midcoast Conservancy's conflict of interest policy and to acknowledge in writing that he or she has done so. Annually (or more frequently should conflicts arise) each director, officer, employee and committee member shall complete a disclosure form identifying any relationships, positions or circumstances in which s/he is involced that he or she believes could contribute to a conflict of interest.”

“Compensation process for top officials - Midcoast Conservancy relies on two surveys to determine the compensation for its key employees. One survey produced by the Land Trust Alliance every three years provided summaries of salaries for executive directors and key land trust staff jobs. The data is broken down by region and state when possible. We also review the survey produced by the Maine Association of Nonprofits which comes out annually. The Executive Director, in consultation with the board, sets the salary for the staff and the executive committee of the board sets the salary for the Executive Director. Officers of the board are not compensated. The Executive Director is compensated.”

“Governing documents disclosure explanation - The Midcoast Conservancy's governing documents, conflict of interest policy and financial statements are maintained in the Midcoast Conservancy's office and are available to the public during standard business hours. Midcoast Conservancy's Form 990 is posted on its website as well as on Guidestar.”

“This process has not changed from the prior year.”

“This Form 990 is being amended to reflect corrections made to impair certain properties which have donor imposed restrictions as well as to correct balance in net assets. The net effect of these adjustments at June 30, 2022 is an increase in Impairment Expense of $324,207, decrease in the asset Trust Property of $3,901,761, increase in Net Assets without Donor Restriction of $1,026,611, and decrease in Net Assets with Donor Restrictions of $4,607,166, resulting in a change in ending Net Assets of $3,577,555. A prior period adjustment at June 30, 2021 was also needed, resulting in a decrease in Trust Property and Net Assets of $3,577,555.”