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ObjectId: 202300749349301720 - Submission: 2023-03-15
TIN: 13-2898799
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
21
Open to Public Inspection
Name of the organization
Scenic Hudson Inc
Employer identification number
13-2898799
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts.
Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a)
Donor advised funds
(b)
Funds and other accounts
1
Total number at end of year
.........
2
Aggregate value of contributions to (during year)
3
Aggregate value of grants from (during year)
4
Aggregate value at end of year
........
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control?
............
Yes
No
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit?
...................................
Yes
No
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
Preservation of land for public use (e.g., recreation or education)
Preservation of an historically important land area
Protection of natural habitat
Preservation of a certified historic structure
Preservation of open space
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a
Total number of conservation easements
......................
2a
b
Total acreage restricted by conservation easements
....................
2b
c
Number of conservation easements on a certified historic structure included in (a)
.....
2c
d
Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register
...
2d
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year
4
Number of states where property subject to conservation easement is located
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds?
............
Yes
No
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
$
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)?
.............................
Yes
No
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1
.........................
$
(ii)
Assets included in Form 990, Part X
...............................
$
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1
..........................
$
b
Assets included in Form 990, Part X
...............................
$
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2021
Page 2
Schedule D (Form 990) 2021
Page
2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets
(continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
Public exhibition
d
Loan or exchange programs
b
Scholarly research
e
Other
c
Preservation for future generations
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?
...
Yes
No
Part IV
Escrow and Custodial Arrangements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X?
....................................
Yes
No
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c
Beginning balance
.............................
1c
d
Additions during the year
............................
1d
e
Distributions during the year
..........................
1e
f
Ending balance
................................
1f
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
...
Yes
No
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII
....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a)
Current year
(b)
Prior year
(c)
Two years back
(d)
Three years back
(e)
Four years back
1a
Beginning of year balance
....
30,187,632
25,175,230
23,037,120
22,903,088
22,202,558
b
Contributions
...
390,308
549,491
2,130,575
19,448
57,197
c
Net investment earnings, gains, and losses
-4,612,206
5,627,290
1,018,535
1,216,992
1,552,333
d
Grants or scholarships
...
e
Other expenditures for facilities
and programs
...
1,147,000
1,164,379
1,011,000
1,102,408
909,000
f
Administrative expenses
....
g
End of year balance
......
24,818,734
30,187,632
25,175,230
23,037,120
22,903,088
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment
81.500 %
b
Permanent endowment
c
Term endowment
18.500 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:
Yes
No
(i)
Unrelated organizations
.................
3a(i)
No
(ii)
Related organizations
.................
3a(ii)
Yes
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R?
.........
3b
Yes
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property
(a)
Cost or other basis
(investment)
(b)
Cost or other basis (other)
(c)
Accumulated depreciation
(d)
Book value
1a
Land
.....
b
Buildings
....
c
Leasehold improvements
23,910
23,910
0
d
Equipment
....
160,449
96,669
63,780
e
Other
.....
Total.
Add lines 1a through 1e.
(Column (d) must equal Form 990, Part X, column (B), line 10(c).)
..
63,780
Schedule D (Form 990) 2021
Page 3
Schedule D (Form 990) 2021
Page
3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b.
See Form 990, Part X, line 12.
(a)
Description of security or category
(including name of security)
(b)
Book value
(c)
Method of valuation:
Cost or end-of-year market value
(1)
Financial derivatives
.........
(2)
Closely-held equity interests
........
(3)
Other
(A)
Pooled Investment Funds - Ex U.S. Commingled Funds
6,672,461
F
(B)
Pooled Investment Funds - Alternative Investment Funds
3,937,390
F
(C)
Pooled Investment Funds - Global Commingled Funds
1,786,888
F
(C)
(D)
(E)
(F)
(G)
(H)
Total.
(Column (b) must equal Form 990, Part X, col. (B) line 12.)
12,396,739
Part VIII
Investments - Program Related.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c.
See Form 990, Part X, line 13.
(a)
Description of investment
(b)
Book value
(c)
Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 13.)
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d.
See Form 990, Part X, line 15.
(a)
Description
(b)
Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 15.)
...........
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f.
See Form 990, Part X, line 25.
1.
(a)
Description of liability
(b)
Book value
(1)
Federal income taxes
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 25.)
2.
Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2021
Page 4
Schedule D (Form 990) 2021
Page
4
Part XI
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1
Total revenue, gains, and other support per audited financial statements
.......
1
19,197,643
2
Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a
Net unrealized gains (losses) on investments
....
2a
-5,516,095
b
Donated services and use of facilities
.........
2b
c
Recoveries of prior year grants
...........
2c
d
Other (Describe in Part XIII.)
...........
2d
9,981,050
e
Add lines
2a
through
2d
.....................
2e
4,464,955
3
Subtract line
2e
from line
1
..................
3
14,732,688
4
Amounts included on Form 990, Part VIII, line 12, but not on line
1
:
a
Investment expenses not included on Form 990, Part VIII, line 7b
.
4a
137,119
b
Other (Describe in Part XIII.)
...........
4b
c
Add lines
4a
and
4b
....................
4c
137,119
5
Total revenue. Add lines
3
and
4c.
(This must equal Form 990, Part I, line 12.)
......
5
14,869,807
Part XII
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1
Total expenses and losses per audited financial statements
...........
1
18,343,993
2
Amounts included on line 1 but not on Form 990, Part IX, line 25:
a
Donated services and use of facilities
.........
2a
b
Prior year adjustments
............
2b
c
Other losses
................
2c
d
Other (Describe in Part XIII.)
...........
2d
6,772,118
e
Add lines
2a
through
2d
....................
2e
6,772,118
3
Subtract line
2e
from line
1
...................
3
11,571,875
4
Amounts included on Form 990, Part IX, line 25, but not on line
1:
a
Investment expenses not included on Form 990, Part VIII, line 7b
..
4a
137,119
b
Other (Describe in Part XIII.)
...........
4b
c
Add lines
4a
and
4b
.....................
4c
137,119
5
Total expenses. Add lines
3
and
4c.
(This must equal Form 990, Part I, line 18.)
......
5
11,708,994
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference
Explanation
Part V, Line 4:
USE OF ENDOWMENT FUNDS: As articulated in detail in Part VII of Schedule R, Scenic Hudson, Inc. (SH) and The Scenic Hudson Land Trust, Inc. (SHLT) are related, tax-exempt organizations. Neither organization holds a "permanent endowment," that is, a fund intended by the donor to preserve its original principal amount and thus where spending is restricted to income and other investment earnings. SH and SHLT do hold four "quasi-endowment" funds, which had a combined market value of $198,032,667 as of June 30, 2022, as follows: The Scenic Hudson Board Designated Fund is held by SH for the purpose of supporting the annual operating budget. Spending from the Board Designated Fund is determined annually by the board based on a percentage of the average balance over a rolling twelve-quarter period. As of June 30, 2022, the balance of the Board Designated Fund was $20,228,212. The Kathryn W. Davis Fund for Park Planning and Community Land Use (the "Kathyrn W. Davis Fund") is a donor-restricted fund held by SH. This fund is used to support SH's staff, consultants and other costs for park design, park management and land use planning. Spending from the Kathryn W. Davis Fund is by application of the same spending rate determined by the Board and applied to SH's Board Designated Fund. As of June 30, 2022, the balance of the Kathryn W. Davis Fund was $4,590,522. The combined value of the Board Designated Fund and Kathryn W. Davis Fund ($24,818,734) is reported in Schedule D, Part V of the Scenic Hudson 990. Because of the small size of the Board Designated Fund relative to SH's operations, and the restricted purpose of the Kathryn W. Davis Fund, Scenic Hudson is highly dependent on donor contributions to meet its annual operating needs. The Lila Acheson and Dewitt Wallace Hudson Valley Land Preservation Endowment (the "Wallace Fund") is a donor-restricted fund held by SHLT. It is principally used to support capital and other costs of purchasing land and conservation easements to meet SHLT's land preservation goals. Spending from the Wallace Fund is by application of the same spending rate determined by the Board and applied to SH's Board Designated Fund. Special appropriations are permitted under exceptional circumstances by Board approval, subject to donor restrictions. As of June 30, 2022, the balance of the Wallace Fund was $172,345,159. The Conservation Easement Enforcement Fund (the "Easement Enforcement Fund") is a board-designated fund held by SHLT. Appropriations are made at the discretion of the Board, generally by application of the same spending rate determined by the Board and applied to SH's Board Designated Fund. Spending is used primarily to cover legal and other costs incurred to support the perpetual obligation to monitor and enforce conservation easements and to defend lands held in fee for conservation. As of June 30, 2022, the balance of the Easement Enforcement Fund was $877,399. The capital costs of preserving the highest priority conservation lands in the Hudson Valley far exceed appropriations available from the Wallace Fund. Accordingly, Scenic Hudson's land preservation program - which is run primarily through The Scenic Hudson Land Trust - is highly dependent on capital contributions from individuals, foundations and government entities. The combined value of the Wallace Fund and Easement Enforcement Fund ($173,222,558) excluded from this 990 and reported in Schedule D, Part V of The Scenic Hudson Land Trust 990.
Part X, Line 2:
DISCLOSURE OF UNCERTAIN TAX POSITIONS: The Organization believes it had no uncertain tax positions as of June 30, 2022 and 2021 in accordance with Accounting Standards Codification ("ASC") Topic 740, "Income Taxes," which provides standards for establishing and classifying any tax provisions for uncertain tax positions.
Part XI, Line 2d - Other Adjustments:
Consolidation Eliminations -7,395,602. Related Entity Revenue 17,376,652.
Part XII, Line 2d - Other Adjustments:
Consolidation Eliminations -7,395,602. Related Entity Expenses 14,167,720.
Schedule D (Form 990) 2021
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