Heritage Land Preservation Trust Inc

“The land trust was effectively dormant for the year. There were no program revenues received during the year and minimum amounts were spent to maintain the properties. The only major expenditures were related to regular maintenance of the coe dam. The board is considering options to engage with the public and increase awareness and fundraising in coming years.”

“The governing documents, conflict of interest policy, and financial statements are available upon request. Prior period tax returns are available to the public on guidestar.”

“The heritage preservation land trust (hlpt) has three funds with the northwest connecticut community foundation (nccf): heritage land preservation trust-endowed agency fund heritage land preservation trust-non endowed agency fund heritage land preservation trust northwoods -agency endowed in the view of the irs, nccf which is a 501(c)3 organization, is actually the owner of the monies in the funds as stated in our mutually signed fund agreements. Although hlpt is pooled and invested with assets of hundreds of other funds, nccf is not acting as an investment firm on behalf of hlpt. Investments are pooled, but each fund within the organization is separate with investment results and fees allocated separately for each fund. The important distinction is that nccf is the owner of the dollars in the fund(s). In accordance with the fund agreements, hlpt has the power to request distributions of earnings from the fund(s) and to request the principal of the fund be transferred to another institution with a board vote, but it doesn't change that, for tax purposes, nccf technically owns that money.”