Civic Intelligence

Ag Land Trust

990 • Fiscal year 2017 • EIN 77-0077084

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 16, 2018

P O Box 1731Salinas, CA 93902

(831) 422-5868

Siviq Scores

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

Liabilities / Assets

20th percentile

0.02x

Higher debt load relative to assets than 20% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

55th percentile

0.28x

Higher debt load relative to revenue than 55% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

8th percentile

-30%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$150,000

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 10.1% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

28th percentile

-0.9%

Faster asset growth than 28% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-79%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Down

$16,759,635

Down $155,009 (-0.9%) from 2016

Net Assets

Down

$16,341,958

Down $268,875 (-1.6%) from 2016

Liabilities

Up

$417,677

Up $113,866 (+37%) from 2016

Revenue

Down

$1,480,180

Down $5,486,286 (-79%) from 2016

Expenses

Up

$1,925,364

Up $1,506,760 (+360%) from 2016

Net Income

Down

-$445,184

Down $6,993,046 (-107%) from 2016

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $6,686,175Liabilities 2011: $116,883Net Assets 2011: $6,569,2922011Assets 2012: $8,647,925Liabilities 2012: $2,182,879Net Assets 2012: $6,465,0462012Assets 2013: $6,392,431Liabilities 2013: $151,724Net Assets 2013: $6,240,7072013Assets 2014: $9,715,576Liabilities 2014: $3,235,660Net Assets 2014: $6,479,9162014Assets 2015: $10,447,541Liabilities 2015: $167,928Net Assets 2015: $10,279,6132015Assets 2016: $16,914,644Liabilities 2016: $303,811Net Assets 2016: $16,610,8332016Assets 2017: $16,759,635Liabilities 2017: $417,677Net Assets 2017: $16,341,9582017Assets 2018: $18,521,441Liabilities 2018: $477,496Net Assets 2018: $18,043,9452018Assets 2019: $28,336,524Liabilities 2019: $366,502Net Assets 2019: $27,970,0222019Assets 2020: $32,882,424Liabilities 2020: $769,818Net Assets 2020: $32,112,6062020Assets 2021: $37,365,011Liabilities 2021: $790,263Net Assets 2021: $36,574,7482021Assets 2022: $37,807,330Liabilities 2022: $786,159Net Assets 2022: $37,021,1712022Assets 2023: $39,424,837Liabilities 2023: $449,644Net Assets 2023: $38,975,1932023Assets 2024: $39,688,557Liabilities 2024: $447,568Net Assets 2024: $39,240,9892024

Highlighted filing

2017

Assets$16,759,635
Liabilities$417,677
Net Assets$16,341,958

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $3,023,247Expenses 2011: $3,060,056Net Income 2011: -$36,8092011Revenue 2012: $2,193,200Expenses 2012: $2,300,271Net Income 2012: -$107,0712012Expenses 2013: $3,791,1812013Revenue 2014: $547,891Expenses 2014: $308,682Net Income 2014: $239,2092014Revenue 2015: $4,171,560Expenses 2015: $371,863Net Income 2015: $3,799,6972015Revenue 2016: $6,966,466Expenses 2016: $418,604Net Income 2016: $6,547,8622016Revenue 2017: $1,480,180Expenses 2017: $1,925,364Net Income 2017: -$445,1842017Revenue 2018: $2,759,351Expenses 2018: $1,068,422Net Income 2018: $1,690,9292018Revenue 2019: $694,937Expenses 2019: $513,846Net Income 2019: $181,0912019Revenue 2020: $18,308,309Expenses 2020: $14,165,725Net Income 2020: $4,142,5842020Revenue 2021: $7,251,508Expenses 2021: $2,789,366Net Income 2021: $4,462,1422021Revenue 2022: $1,147,846Expenses 2022: $701,423Net Income 2022: $446,4232022Revenue 2023: $2,595,398Expenses 2023: $641,376Net Income 2023: $1,954,0222023Revenue 2024: $1,159,955Expenses 2024: $821,381Net Income 2024: $338,5742024

Highlighted filing

2017

Revenue$1,480,180
Expenses$1,925,364
Net Income-$445,184
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 16, 2018
Return Version
2016v3.0
Gross Receipts
$1,480,397
Mission and Program Overview

Mission

The Ag Land Trust was created, on August 1, 1984, to protect productive agricultural land from the pressure of commercial and residential development. The Ag Land Trust has protected more irrigated farmland and has been more effective in redirecting city growth toward less desirable land than any other agricultural land trust in California.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,786,077$16,134,242▲ $2,348,165
Cash and Non-Interest-Bearing Accounts$2,813,312$594,100▼ $2,219,212
Savings and Temporary Cash Investments$284,798$31,293▼ $253,505
Accounts Receivable$20,000$0▼ $20,000
Prepaid Expenses and Deferred Charges$10,456$0▼ $10,456
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$16,914,644$16,759,635▼ $155,009
Other Assets Total$1$0▼ $1
Liabilities
Deferred Revenue$274,021$309,239▲ $35,218
Accounts Payable and Accrued Expenses$29,790$108,438▲ $78,648
Total Liabilities$303,811$417,677▲ $113,866
Net Assets / Fund Balance
Unrestricted Net Assets$13,541,814$13,272,939▼ $268,875
Temporarily Rstr Net Assets$3,009,019$3,009,019→ $0
Permanently Rstr Net Assets$60,000$60,000→ $0
Total Net Assets Fund Balance$16,610,833$16,341,958▼ $268,875
Total Liabilities and Net Assets / Fund Balance$16,914,644$16,759,635▼ $155,009

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,749,450$223,708$1,973,158
Leasehold Improvements$484,615$254,009$738,624
Equipment$4,698$8,473$13,171
Land$13,895,479--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sherwood DaringtonManaging DirectorPT$150,000$150,000

Board Members and Trustees

NameTitle
Aaron JohnsonPresident
David GillVice President
Dick NutterDirector
Marc Del PieroDirector
Virginia JamesonDirector
Kelly MorgantiniSecretary
Louis FrizzellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$955,000
Program Service Revenue
$0
Investment Income
$128
Other Revenue
$525,052
All Other Contributions
$235,500
Change in Net Assets
$-445,184

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$235,500Appraisal
Total Noncash Contributions1$235,500-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,480,180
Total Revenue per Audited Statements
$1,480,180
Total Revenue per Form 990
$1,480,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,775,364
Salaries, Compensation, and Employee Benefits$150,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$344,960$172,480-$517,440
Current Officers, Directors, Trustees, and Key Employees$100,000$50,000-$150,000
Depreciation Depletion$71,037$34,989-$106,026
Insurance$20,294$9,996-$30,290
Other Expenses$16,042$7,901-$23,943
Occupancy$13,675$6,735-$20,410
All Other Expenses$13,307$6,554-$19,861
Fees for Services Accounting$11,332$5,581-$16,913
Office Expenses$6,715$3,308-$10,023
Travel$4,737$2,333-$7,070
Advertising$200$99-$299
Total Functional Expenses$1,598,629$326,735$0$1,925,364

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,925,364
Total Expenses per Audited Statements$1,925,364
Total Expenses per Form 990$1,925,364
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Sherwood DaringtonManaging DirManagement FeesNo-
Sherwood DaringtonManaging DirReimburse ExpensesNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 was provided to and approved by the organization's Treasurer before it was filed.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Organization compensation committee used compensation survey of local land trusts to help with the establishment of the only employees's compensation.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The Organization's public documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Ag Land Trust
EIN
77-0077084
Phone
8314225868
Address
P O BOX 1731, SALINAS, CA 93902

Signing Officer

Name
Louis Frizzell
Title
Treasurer
Signed
2018-01-16
Discuss with paid preparer
Yes

Organization Details

Formed
1984
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Brooks M Fiske CPA Inc
Address
1093 S Main Street Suite 105, Salinas, CA 93901
Preparer
Brooks M Fiske
Phone
8314229601
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Federal Funds Repayment Due = $177040

Other Changes In Net Assets Or Fund Balances - Other Decreases

Miscellaneous adjustment = -$731

Financial Statement Notes

Part II, Line 9: Organization Reporting of conservation easements.

Acquisition of easements by the organization frequently occurs in the form of gifts and/or as purchases at fair market value. The organization records both acquisitions and conveyances at fair market value as determined based on independent appraisal. Easements acquired by the organization are conservation easements and represent restrictions over the use and development of land. These easements generally provide that the land will be maintained unimpaired in its current natural, agricultural, scenic, or recreational state. Since the benefits of such easements accrue to the public upon acquisition, the fair market value of easements acquired is shown in the year of acquisition as an addition to net assets to record the donor's gift and unless conveyed to a public agency for consideration, shown as a reduction in net assets to record the value of the public's benefit and to recognize that these easements have no market value once severed from the land and held by the organization.

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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.$39.7$0.45$39.2$1.16$0.82$0.34
2023Detailed filing. Detailed filing data is available for this year.$39.4$0.45$39.0$2.60$0.64$1.95
2022Detailed filing. Detailed filing data is available for this year.$37.8$0.79$37.0$1.15$0.70$0.45
2021Detailed filing. Detailed filing data is available for this year.$37.4$0.79$36.6$7.25$2.79$4.46
2020Detailed filing. Detailed filing data is available for this year.$32.9$0.77$32.1$18.3$14.2$4.14
2019Detailed filing. Detailed filing data is available for this year.$28.3$0.37$28.0$0.69$0.51$0.18
2018Detailed filing. Detailed filing data is available for this year.$18.5$0.48$18.0$2.76$1.07$1.69
2017Detailed filing. Detailed filing data is available for this year.$16.8$0.42$16.3$1.48$1.93$0.45
2016Detailed filing. Detailed filing data is available for this year.$16.9$0.30$16.6$6.97$0.42$6.55
2015Detailed filing. Detailed filing data is available for this year.$10.4$0.17$10.3$4.17$0.37$3.80
2014Detailed filing. Detailed filing data is available for this year.$9.72$3.24$6.48$0.55$0.31$0.24
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.39$0.15$6.24$3.79
2012Summary only. Only limited summary data is available for this year.$8.65$2.18$6.47$2.19$2.30$0.11
2011Summary only. Only limited summary data is available for this year.$6.69$0.12$6.57$3.02$3.06$0.04