Peninsula Open Space Trust EIN 94-2392007

Peninsula Open Space Trust

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Preserves open land on the Peninsula and in the South Bay for everyone's enjoyment. For fiscal year 2024 it reported $62.3M in revenue, $43.4M in expenses, and $359.3M in net assets.Pt I

Founded
1977
Type
Public charity (501(c)(3)) · Environment
Location
Palo Alto, CA
Website
www.openspacetrust.org
Filings
4 on file (2021–2024)
Revenue
$62.3MFY2024
Expenses
$43.4M
Net assets
$359.3M
People
28
Filings
4
Updates
0
More identity details & actions ⌄
EIN  94-2392007 Public charity (501(c)(3)) Palo Alto, CA Founded 1977
Form 990 (PDF)
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Figures match the IRS filing checked 8/7/26 · see original: IRS
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Size
$10–100M
What they do
Preserves open land on the Peninsula and in the South Bay for everyone's enjoyment.
Leadership
Walter T Moore · President · $395K
Money in and out
$62.3M revenue, $43.4M expenses
Bottom line
81% program efficiency
Where the money goes · FY2024
Total revenue
$62.3M
Pt VIII · Ln 12
Total expenses
$43.4M
Pt IX · Ln 25
Net assets
$359.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $18.8M
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.09 Fundraising $0.10
Program efficiency
81%
of spending reaches programs▲ +4% vs prior filing year
Operating runway
200.3mo
months of highly liquid reserves at operating expense rate▲ +164% vs prior filing year
Surplus margin
+30%
revenue over expenses, this year▲ +358% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$62.3M
FY2024▲ +105%
Expenses
$43.4M
FY2024▲ +28%
Total assets
$373.8M
FY2024▲ +10%
Total liabilities
$14.4M
FY2024▲ +30%
Total revenue
$62.3M
Pt VIII · Ln 12
Total expenses
$43.4M
Pt IX · Ln 25
Net assets
$359.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$18.8M
Total assetsPt X · Ln 16$373.8M
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

3 program services account for $35.1M of program spending, described in the organization's own filed words · FY2024.
01

Land Acquisition & Transfer

In fiscal year 2025, post completed and assisted a total of 9 transactions that protected 5,538 acres. Purchased 2,467 acres of sargent ranch in southern santa clara county, a key wildlife linkage and part of the juristac tribal cultural landscape.

$21.1Mprogram expense
02

Land Management

Post currently holds 18,444 acres in fee ownership and holds conservation easements and deed restrictions on 15,024 acres. The organization has an established stewardship program for the lands it owns that includes resource conservation planning and management, along with active uses of land for conservation grazing and agriculture…

$10.7Mprogram expense
03

Community Outreach and Education

Post continued our community growth and engagement efforts in fiscal year 2025 growing the list of community members by 36.4k new contacts. These contacts were gathered via content, general awareness paid advertising, social media, and events. Post's community database now includes 146k community members.

$3.4Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPeninsula Open Space Trust
EINHdr · item D94-2392007
Principal addressHdr · item CPalo Alto, CA
WebsiteHdr · item Jwww.openspacetrust.org
Year of formationHdr · item L1977
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEnvironment (C500)
Ruling yearIRS BMFApr 1977

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$395,344Pt VII · Sec A
Treasurer & CFO/COO
$305,729Pt VII · Sec A
Vice President of Development
$286,071Pt VII · Sec A
Vice President of Conservation
$267,932Pt VII · Sec A
Chief Marketing Officer (through Sept)
$253,981Pt VII · Sec A
Chief Talent Officer
$233,975Pt VII · Sec A
Director of Finance
$216,799Pt VII · Sec A
General Counsel
$207,835Pt VII · Sec A

Walter T Moore’s $395K as President is at the 81st percentile of top reported officer pay among 324 $10–100M 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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Walter T Moore$395,344$397,326$367,707$359,152$351,751
Mark Stevens$305,729$293,584$282,550$274,335$256,692
Gordon Clark$286,071$256,194$236,409$220,522$201,791
Curtis Riffle$268,895
Noelle Chambers$267,932$249,961$229,416$207,883$166,980
Martha Tedesco$253,981$254,724$237,946$228,732$213,570
Diane Cordova$233,975$229,672$218,399$203,186$194,053
Justin Eliot$216,799$206,925$198,578$192,257$181,219

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.

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Statement of Revenue

Part VIII
Contributions & grants$54.8M · 88%
Investment income$6.8M · 11%
Other revenue$430K · 1%
Contributions & grants88%$54.8M
Investment income11%$6.8M
Other revenue1%$430K
Program service revenue$250K
— government grantsLn 1e$1.4M
Total revenueLn 12$62.3M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.09 Fundraising $0.10
Program services81%$35.1M
Management & general9%$4.1M
Fundraising10%$4.2M
Total functional expensesLn 25$43.4M

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$373.8M
Total liabilitiesLn 26$14.4M
Total net assetsLn 32$359.3M
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $176.1M · Operating expenses (Pt IX) $43.4M · Less non-cash grants $32.8M · Cash operating expenses/yr $10.6M
200.3 months
Where the money goes
Program services
Program services $35.1M · Total expenses $43.4M
81%
Management & General
Management & general $4.1M · Total expenses $43.4M
9%
Fundraising
Fundraising $4.2M · Total expenses $43.4M
10%
Cost to raise $1
Fundraising expense (3-yr avg) $3.9M · Solicited contributions (3-yr avg) $31.8M
$0.12 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $54.8M · Total revenue $62.3M
88%
Government reliance
Government grants $1.4M · Total revenue $62.3M
2%
Earned-income share
Program service revenue $250K · Total revenue $62.3M
0.4%
Investment reliance
Investment income $6.8M · Total revenue $62.3M
+11%
Program self-sufficiency
Program service revenue $250K · Total expenses $43.4M
0.6%
Growth & trend
Revenue growth (YoY)
This year $62.3M · Prior year $30.3M
+105%
Revenue CAGR
FY2020 $38.7M · FY2024 $62.3M
+13%
Net-asset trend (YoY)
End of year $359.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $62.3M · Expenses $43.4M
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $373.8M
Net-asset ratio
Net assets $359.3M · Total assets $373.8M
96%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $167.5M · Other securities (Pt X, ln 12) $7.6M · Total assets (Pt X, ln 16) $373.8M
47%
People & payroll
Highest Reported Total Compensation
Individual Walter T Moore · Reported title PRESIDENT · Highest reported compensation $395K · Total expenses $43.4M
0.9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $11.8M · Total expenses $43.4M
27%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $232K · Gross raised $1.9M
12%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 9%
Fundraising cost ratio 8%
Revenue growth 105%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 11 funders →
Grants paid · 82 grants · $22.2M · 2020–2024
County of San Mateo Parks DepartmentFY2024$5,265,188
Climate Resilient CommunitiesCA · FY2024$185,000
Santa Clara Valley Open Space AuthorityFY2024$100,000
Unitemized GrantFY2024$84,000
San Mateo Resource Conservation DistrictFY2024$80,000
Green Foothills FoundationCA · FY2024$60,000
Amah Mutsun Land TrustCA · FY2024$50,000
Together Bay AreaCA · FY2024$35,000
Santa Clara Valley Habitat AgencyFY2024$25,000
University of California DavisFY2024$15,000
Saved by NatureCA · FY2024$13,000
CanopyCA · FY2024$10,500
Coastal QuestCA · FY2024$10,000
Puente De La Costa SurCA · FY2024$10,000
Sempervirens FundCA · FY2024$10,000
See all 82 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$30.3M revenue · ⤓ 990 PDF
FY2023$24.8M revenue · ⤓ 990 PDF
FY2022$30.2M revenue · ⤓ 990 PDF
FY2021$38.7M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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