Civic Intelligence

Harvard Conservation Trust

990 • Fiscal year 2021 • EIN 23-7305157

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 27, 2023

PO Box 31Harvard, MA 01451

(978) 456-9292

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

12th percentile

0.02x

Higher debt load relative to revenue than 12% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

97th percentile

90%

Higher net margin than 97% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

15th percentile

$8,790

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

44th percentile

7.6%

Faster asset growth than 44% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

14th percentile

-15%

Faster revenue growth than 14% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$10,779,653

Up $763,911 (+7.6%) from 2020

Net Assets

Up

$10,765,964

Up $777,013 (+7.8%) from 2020

Liabilities

Down

$13,689

Down $13,102 (-49%) from 2020

Revenue

Down

$830,678

Down $140,971 (-15%) from 2020

Expenses

Down

$83,763

Down $72,229 (-46%) from 2020

Net Income

Down

$746,915

Down $68,742 (-8.4%) from 2020

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $4,305,252Liabilities 2010: $10,290Net Assets 2010: $4,294,9622010Assets 2011: $6,329,167Liabilities 2011: $10,075Net Assets 2011: $6,319,0922011Assets 2012: $5,558,826Liabilities 2012: $6,977Net Assets 2012: $5,551,8492012Assets 2013: $5,657,641Liabilities 2013: $5,770Net Assets 2013: $5,651,8712013Assets 2014: $6,131,211Liabilities 2014: $462,011Net Assets 2014: $5,669,2002014Assets 2015: $7,457,664Liabilities 2015: $7,359Net Assets 2015: $7,450,3052015Assets 2016: $7,700,968Liabilities 2016: $5,400Net Assets 2016: $7,695,5682016Assets 2017: $8,917,666Liabilities 2017: $520,035Net Assets 2017: $8,397,6312017Assets 2018: $8,245,242Liabilities 2018: $14,746Net Assets 2018: $8,230,4962018Assets 2019: $8,891,887Liabilities 2019: $4,575Net Assets 2019: $8,887,3122019Assets 2020: $10,015,742Liabilities 2020: $26,791Net Assets 2020: $9,988,9512020Assets 2021: $10,779,653Liabilities 2021: $13,689Net Assets 2021: $10,765,9642021Assets 2022: $10,657,177Liabilities 2022: $4,552Net Assets 2022: $10,652,6252022Assets 2023: $12,029,204Liabilities 2023: $50,023Net Assets 2023: $11,979,1812023Assets 2024: $12,479,260Liabilities 2024: $20,236Net Assets 2024: $12,459,0242024

Highlighted filing

2021

Assets$10,779,653
Liabilities$13,689
Net Assets$10,765,964

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $96,7602010Expenses 2011: $89,0812011Expenses 2012: $110,1072012Revenue 2013: $227,071Expenses 2013: $104,014Net Income 2013: $123,0572013Revenue 2014: $217,871Expenses 2014: $136,146Net Income 2014: $81,7252014Revenue 2015: $1,960,447Expenses 2015: $92,690Net Income 2015: $1,867,7572015Revenue 2016: $272,429Expenses 2016: $123,127Net Income 2016: $149,3022016Revenue 2017: $592,765Expenses 2017: $145,687Net Income 2017: $447,0782017Revenue 2018: $500,395Expenses 2018: $149,634Net Income 2018: $350,7612018Revenue 2019: $261,033Expenses 2019: $154,699Net Income 2019: $106,3342019Revenue 2020: $971,649Expenses 2020: $155,992Net Income 2020: $815,6572020Revenue 2021: $830,678Expenses 2021: $83,763Net Income 2021: $746,9152021Revenue 2022: $684,698Expenses 2022: $164,163Net Income 2022: $520,5352022Revenue 2023: $1,537,626Expenses 2023: $526,616Net Income 2023: $1,011,0102023Revenue 2024: $1,355,585Expenses 2024: $809,293Net Income 2024: $546,2922024

Highlighted filing

2021

Revenue$830,678
Expenses$83,763
Net Income$746,915
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 27, 2023
Return Version
2021v4.0
Gross Receipts
$2,039,900
Mission and Program Overview

Mission

To preserve the unique character and natural resources of harvard

To preserve the unique character and natural resources of harvard.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,632,646$5,023,102▲ $390,456
Land, Buildings, and Equipment, Net$4,539,481$4,539,481→ $0
Cash and Non-Interest-Bearing Accounts$224,042$510,969▲ $286,927
Pledges and Grants Receivable$42,497$66,024▲ $23,527
Accounts Receivable-$11,627-
Prepaid Expenses and Deferred Charges$1,652$1,726▲ $74
Total Assets$10,015,742$10,779,653▲ $763,911
Other Assets Total$575,424$626,724▲ $51,300
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,400$11,400→ $0
Accounts Payable and Accrued Expenses$15,391$2,289▼ $13,102
Total Liabilities$26,791$13,689▼ $13,102
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,226,166$5,921,097▲ $694,931
Net Assets With Donor Restrictions$4,762,785$4,844,867▲ $82,082
Total Net Assets Fund Balance$9,988,951$10,765,964▲ $777,013
Total Liabilities and Net Assets / Fund Balance$10,015,742$10,779,653▲ $763,911

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,539,481-$4,539,481
Other Land Buildings-$3,040$3,040
Other Assets Org$24--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$2,081,048$9,326▲ $221,333-$2,311,707
2020$2,006,400-▲ $74,648-$2,081,048
2019$1,746,758-▲ $294,577$34,935$2,006,400
2018$1,717,349$95,665▼ $53,993$12,263$1,746,758
2017$1,515,931$48,561▲ $183,166$30,309$1,717,349
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Brian ColleranExecutive DiFT$8,790$8,790

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$378,132
Program Service Revenue
$0
Investment Income
$452,546
Other Revenue
$0
All Other Contributions
$341,316
Change in Net Assets
$746,915
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$61,831
Salaries, Compensation, and Employee Benefits$21,932
Total Fundraising Expense$2,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$29,954-$29,954
Other Salaries and Wages$16,364$1,312$2,338$20,014
Fees for Services Accounting-$7,950-$7,950
Occupancy-$6,000-$6,000
Insurance$1,949$1,398-$3,347
Office Expenses-$3,245-$3,245
Payroll Taxes$1,342$192$384$1,918
Advertising-$1,165-$1,165
Information Technology-$898-$898
Other Expenses$334$1,674-$334
Total Functional Expenses$27,253$53,788$2,722$83,763
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The organization has three classes of members: life members, regular members, and charter members. Life members and regular members having voting rights at all member meetings.

Form 990, Page 6, Part VI, Line 7A

Life members and regular members have the right to elect trustees of the board of trustees.

Form 990, Page 6, Part VI, Line 7B

Life members and regular members all have the right to approve changes to the by-laws and constitution.

Form 990, Page 6, Part VI, Line 11B

The chair of the finance committee and the executive director will review the form 990 and make it available to all of the trustees.

Form 990, Page 6, Part VI, Line 12C

All trustees, employees, close relatives, major donors, related organizations, and other insiders, as defined in the organization's conflict of interest policy, are required to bring any involment in a conflict or appearance of conflict to the attention of the designated trustee. The trustee selected to manage conflict of interest issues will develop a recommended course of action to be submitted to the full board of trustees as the final arbiter of the issue. Until the board of trustees vote on a recommended course of action, the individual involved is required to refrain from participating from the questionable activity and recuse and absent him/herself from discussions pertaining to the matter.

Form 990, Page 6, Part VI, Line 15A

A special committee comprised of members of the governance committee, officers, and trustees evaluates and recommends executive compensation levels that the board of trustees then reviews. The special committee considers several factors when determining compensation, including performance and comparable data.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request at the organization's administrative office.

Filing and Contact Details

Filer

Filer Name
Harvard Conservation Trust
EIN
23-7305157
Phone
9784569292
Address
PO BOX 31, HARVARD, MA 01451

Signing Officer

Name
Michael Morton
Title
President
Phone
9784569292
Signed
2023-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Morton
Formed
1973
Legal Domicile
Ma
Voting Board Members
14
Independent Board Members
14
Employees
2
Volunteers
50

Preparer

Firm
Anstiss & Co Pc
Address
6 OMNI WAY SUITE 201, CHELMSFORD, MA 01824-4141
Preparer
Brendan E Toolin
Phone
9784522500
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

The return is being amended upon completion of its annual audit (2020) and review(2021) to update the financial information in parts i, viii, ix, x as well as schedules a, and o.

Financial Statement Notes

Schedule D, Page 1, Part II, Line 5

The organization monitors easements in the normal course of its operations.

Schedule D, Page 1, Part II, Line 9

Conservation easement acquisition costs are expensed as incurred.

Schedule D, Page 2, Part V, Line 4

The intended use of the organization's endownment funds is to provide a sustainable source of funds to support efforts to preserve the unique character and natural resources of harvard, massachusetts.

Schedule D, Page 3, Part X

Harvard conservation trust has been granted tax-exempt status under internal revenue code section 501(c)(3) and is, therefore, generally exempt from federal and state income taxes. Accordingly, no provision for income taxes has been provided for in the accompanying financial statements. Asc 740-10, "income taxes" requires the organization to evaluate and disclose tax positions that could have an effect on the organization's financial statements. Harvard conservation trust reports its activities to the internal revenue service and to the commonwealth of massachusetts on an annual basis. These informational returns are generally subject to audit and review by the governmental agencies for a period of three years after filing. Substantially all of harvard conservation trust's income, expenditures and activities relate to its exempt purpose, therefore, management has determined that harvard conservation trust is not subject to unrelated business income taxes and will continue to qualify as a tax- exempt not-for-profit entity.

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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04539481
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.5$0.02$12.5$1.36$0.81$0.55
2023Detailed filing. Detailed filing data is available for this year.$12.0$0.05$12.0$1.54$0.53$1.01
2022Detailed filing. Detailed filing data is available for this year.$10.7$0.00$10.7$0.68$0.16$0.52
2021Detailed filing. Detailed filing data is available for this year.$10.8$0.01$10.8$0.83$0.08$0.75
2020Detailed filing. Detailed filing data is available for this year.$10.0$0.03$9.99$0.97$0.16$0.82
2019Detailed filing. Detailed filing data is available for this year.$8.89$0.00$8.89$0.26$0.15$0.11
2018Detailed filing. Detailed filing data is available for this year.$8.25$0.01$8.23$0.50$0.15$0.35
2017Detailed filing. Detailed filing data is available for this year.$8.92$0.52$8.40$0.59$0.15$0.45
2016Detailed filing. Detailed filing data is available for this year.$7.70$0.01$7.70$0.27$0.12$0.15
2015Detailed filing. Detailed filing data is available for this year.$7.46$0.01$7.45$1.96$0.09$1.87
2014Detailed filing. Detailed filing data is available for this year.$6.13$0.46$5.67$0.22$0.14$0.08
2013Detailed filing. Detailed filing data is available for this year.$5.66$0.01$5.65$0.23$0.10$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.56$0.01$5.55$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.33$0.01$6.32$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.31$0.01$4.29$0.10