Land Preservation Trust Inc

“One of the trustees, edward a. Halle, is an attorney and has from time to time represented some of the other trustees in various transactions.”

“Company personnel and the external auditors work closely with the outside accounting firm lpt has engaged to prepare the form 990. Prior to the filing of form 990, it is provided to the entire board of directors for their review. Once the board of directors reviews the completed form 990, lpt files the form 990 with the internal revenue service.”

“The members of the board of directors of the land preservation trust take seriously their duty to disclose potential conflict of interests and their roles in determining whether a conflict of interest exists. Actions of the organization are regularly reviewed to determine if there is a potential conflict of interest. When required, professional advisors have been hired to avoid potential conflicts of interest.”

“The board, comprised solely of independent non-paid directors, none of which have a conflict of interest with respect to the compensation arrangement, is accountable for setting reasonable compensation packages for employees. The board of directors develops, consistent with the organization's philosophy and principles, the annual performance goals and criteria to be used in determining merit increases and variable compensation criteria for the employees of lpt. Appropriate comparability data is obtained from the independent experts, i.e., total economic benefits paid by similarly situated organizations both taxable and tax-exempt for similar job responsibilities. The board of director's written records include the 1 terms of the arrangement with the employee including the date the arrangement was approved 2 a list of members present during the debate on the transaction and how the members voted when it was approved and 3 a description of the comparable data relied on by the board of directors. Key deliberations of the board of directors are also documented in minutes which are approved at the next board of directors meeting. The organization doesn't have a paid executive director or other officer.”

“While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes its financial statements available upon request. A public inspection copy of form 990 is also available upon request at the organization's office.”