Middlesex Land Trust FY2023 filing

Tax-deductible

Middletown, CT501(c)(3)EnvironmentEIN 22-2812942Revenue $323K in FY2023

On file with the IRSmiddlesexlandtrust.org27 Washington Street, 06457-2872 · Middletown, CTTax-exempt since Aug 1996Publicly supported charity — 170(b)(1)(A)(vi)

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The Middlesex Land trust's mission is to preserve open space in northern Middlesex county by identifying, protecting, and maintaining significant natural features such as wetlands, scenic areas, critical wildlife habitats, prime farmland and unique geological formations. The Land trusts accepts donations of property as well as conservation easements to ensure that these lands remain in open space for the benefit and enjoyment of future generations.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$57K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $9K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$57K
to officers and key staff · 35% of spending
Concern: pay to officers and key staff is 35% of spending; over 30%.
Pt VII · Sec A
Cash reserves
26 mo
of spending, in cash
Looks good: 26.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $473K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1K
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$323K
+191% vs prior year
Spent
$165K
To programs
82%
Net assets
$6.5M
By yearFY2020–FY2024
Revenue
$323K
FY2023▲ +191%
Tap a bar for its year
Revenue by fiscal year
FY2020$116K
FY2021$106K
FY2022$111K
FY2023$323K
FY2024$218K
Expenses
$165K
FY2023▼ -22%
Tap a bar for its year
Expenses by fiscal year
FY2020$130K
FY2021$164K
FY2022$213K
FY2023$165K
FY2024$157K
Net assets
$6.5M
FY2023▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.2M
FY2021$6.6M
FY2022$6.1M
FY2023$6.5M
FY2024$6.7M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $136K Management & general 18% · $30K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $57K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$57,361Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

David Brown’s $63K as Exec Dir Pt is at the 43rd percentile of top reported officer pay among 1989 $100K–1M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David Brown$63,128$57,361$56,396$49,970$46,630
Jeb Stevens$11,422————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Middlesex Land Trust executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Preserves northern Middlesex County open space through protection and maintenance of natural areas and farmland.

Questions for Middlesex Land Trust

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Provided by the organization

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1 program · $136K · in their own filed words · FY2023
01

Conservation, education and preservation activities.

$136Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$473K
See all 4 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$323K
Ln 12
Gifts and grantsLn 1h$236K
Investment incomeLn 3$86K
Other incomeLn 4–11$18
Money outPt IX
$165K
Ln 25
Programscol B$136K
Managementcol C$30K
Owns and owesPt X
$6.5M
net assets · Ln 32
Cash and savingsLn 1–2$358K
Total assetsLn 16$6.5M
LiabilitiesLn 26$1K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$236K
Investment incomeLn 3$86K
Other incomeLn 4–11$18
Gains on assetsLn 7$56K
Total revenueLn 12$323K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$329K
Cash and savings togetherLn 1–2$358K
InvestmentsLn 11–13$1.9M
Land, buildings, equipmentLn 10c$4.2M
Total assetsLn 16$6.5M
LiabilitiesLn 26$1K
Net assetsLn 32$6.5M
OperationsPt I, VI
EmployeesI 51
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$813K$358K
InvestmentsLn 11–13$1.6M$1.9M
Land, buildings, equipmentLn 10c$3.6M$4.2M
Total assetsLn 16$6.1M$6.5M
LiabilitiesLn 26$1K$1K
Net assetsLn 32$6.1M$6.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$57K$57K
Other employee benefitsLn 9$9K$9K
Payroll taxesLn 10$4K$4K
Legal feesLn 11b$18K$18K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$22K$22K
Other fees for servicesLn 11g$21K$21K
Office expensesLn 13$9K$9K
OccupancyLn 16$4K$4K
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$60$60
InsuranceLn 23$6K$4K$2K
Other expenses (24a–d)Ln 24$8K$8K
All other expensesLn 24e$127$127
Total functional expensesLn 25$165K$136K$30K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $218K$157K$61K$6.7M 990 PDF
FY2023 Viewing $323K$165K$157K$6.5M 990 PDF
FY2022 $111K$213K−$102K$6.1M 990 PDF
FY2021 $106K$164K−$59K$6.6M 990 PDF
FY2020 $116K$130K−$14K$6.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $322,665 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $335,914$236,232
I-9 Program service revenue$0
I-10 Investment incomePrior year −$224,921$86,415
I-11 Other revenue$18
I-12 Total revenuePrior year $110,993$322,665
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $70,246$70,936
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $143,218$94,528
I-18 Total expensesPrior year $213,464$165,464
I-19 Revenue less expensesPrior year −$102,471$157,201
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $322,665 across 8 lines filed
VIII-1a Federated campaigns$1,172
VIII-1b Membership dues$3,445
VIII-1f All other contributions, gifts and grants$231,615
VIII-1h Total contributions, gifts and grants$236,232
VIII-3 Investment incomeExcluded from tax $30,005$30,005
VIII-7 Net gain or loss on sales of assetsRelated to mission $56,410$56,410
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $18$18
VIII-12 Total revenueRelated to mission $56,410 · Excluded from tax $30,023$322,665
Part IX · Statement of functional expenses $165,464 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $57,476$57,476
IX-9 Other employee benefitsPrograms $8,993$8,993
IX-10 Payroll taxesPrograms $4,467$4,467
IX-11b Legal feesPrograms $18,351$18,351
IX-11c Accounting feesManagement $5,444$5,444
IX-11f Investment management feesManagement $22,314$22,314
IX-11g Other fees for servicesPrograms $21,063$21,063
IX-13 Office expensesPrograms $8,780$8,780
IX-16 OccupancyPrograms $3,910$3,910
IX-19 Conferences, conventions and meetingsPrograms $1,032$1,032
IX-20 InterestPrograms $60$60
IX-23 InsurancePrograms $3,961 · Management $1,981$5,942
IX-24 Other expenses (24a–d)Programs $7,505$7,505
IX-24e All other expensesPrograms $127$127
IX-25 Total functional expensesPrograms $135,725 · Management $29,739 · Fundraising $0$165,464
Part X · Balance sheet $6,521,227 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $192,803$29,328
X-2 Savings and temporary cash investmentsStart of year $620,316$328,680
X-9 Prepaid expenses and deferred chargesStart of year $26,788$9,754
X-10c Land, buildings and equipment, netStart of year $3,641,509$4,230,039
X-11 Publicly traded securitiesStart of year $1,575,021$1,923,426
X-16 Total assetsStart of year $6,056,437$6,521,227
X-17 Accounts payable and accrued expensesStart of year $1,292$1,214
X-26 Total liabilitiesStart of year $1,292$1,214
X-27 Net assets without donor restrictionsStart of year $4,094,873$4,557,241
X-28 Net assets with donor restrictionsStart of year $1,960,272$1,962,772
X-32 Total net assets or fund balancesStart of year $6,055,145$6,520,013
X-33 Total liabilities and net assetsStart of year $6,056,437$6,521,227
Part XI · Reconciliation of net assets $6,520,013 net assets at year end
XI-1 Total revenue$322,665
XI-2 Total expenses$165,464
XI-3 Revenue less expenses$157,201
XI-4 Net assets at start of year$6,055,145
XI-5 Net unrealized gains (losses) on investments$307,667
XI-10 Net assets at end of year$6,520,013

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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