Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2010 and ending 12-31-2010
BCheck if applicable:
CName of organization
BLUEGRASS CONSERVANCY INC
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
DUDLEY SQUARE 380 SOUTH MILL STREET
NO 205
Room/suite
City or town, state or country, and ZIP + 4
LEXINGTON, KY40508
D Employer identification number

61-1293032
E Telephone number

G Gross receipts $ 835,307
F Name and address of principal officer:
MACKENZIE ROYCE
DUDLEY SQUARE 380 SOUTH MILL STREET
NO 205
LEXINGTON,KY40508
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.BLUEGRASSCONSERVANCY.ORG
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1995
M State of legal domicile: KY
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: TO PROTECT THE INNER BLUEGRASS REGION OF KENTUCKY THROUGH LAND CONSERVATION FOR FUTURE GENERATIONS.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 20
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 20
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 3
6 Total number of volunteers (estimate if necessary) .... 6 40
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 0
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 0
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 521,207 613,593
9 Program service revenue (Part VIII, line 2g) ......... 0 0
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 7,982 6,147
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 5,263 -6,986
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 534,452 612,754
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 0 0
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 249,932 227,084
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet42,462    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 132,107 153,743
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 382,039 380,827
19 Revenue less expenses. Subtract line 18 from line 12...... 152,413 231,927
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 997,018 1,395,330
21 Total liabilities (Part X, line 26)............ 9,341 16,403
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 987,677 1,378,927
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: TO PROTECT THE INNER BLUEGRASS REGION OF KENTUCKY THROUGH LAND CONSERVATION FOR FUTURE GENERATIONS.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 291,935 including grants of $   ) (Revenue $   )
FOUNDED IN 1995, BLUEGRASS CONSERVANCY IS A PRIVATE, NONPROFIT LAND TRUST PROTECTING THE INNER BLUEGRASS REGION OF KENTUCKY THROUGH LAND CONSERVATION FOR FUTURE GENERATIONS. WE ENCOURAGE THE PRESERVATION OF THESE LANDS THROUGH THE USE OF CONSERVATION EASEMENTS FOR AGRICULTURAL VIABILITY, NATURAL HABITAT, RURAL HERITAGE, AND SCENIC OPEN SPACE. OUR SERVICE AREA INCLUDES BUT IS NOT LIMITED TO ANDERSON, BOURBON, BOYLE, CLARK, FAYETTE, FRANKLIN, JESSAMINE, MADISON, MERCER, SCOTT, AND WOODFORD COUNTIES. ON DECEMBER 31, 2010, WE HELD 74 CONSERVATION EASEMENTS PERMANENTLY PROTECTING APPROXIMATELY 11,279 ACRES. AN ALL-VOLUNTEER BOARD OF DIRECTORS GOVERNS BLUEGRASS CONSERVANCY, WHILE A SMALL STAFF CARRIES ON OUR DAY-TO-DAY OPERATIONS SUCH AS MONITORING AND STEWARDSHIP OF OUR CONSERVATION EASEMENT PROPERTIES.
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services. (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 291,935
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
Yes
 
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
Yes
 
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
 
No
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..
21
 
No
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III.....
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................
23
 
No
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I......
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II...........................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III...............
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV .........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV...................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV..
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule MClick to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............ Click to see attachment
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I........................... Click to see attachment
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1.....................
34
 
No
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
 
No
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2...
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
9
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
3
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
Yes
 
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
Yes
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
Yes
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
20
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
20
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
Yes
 
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
 
No
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
 
No
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
 
No
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
 
No
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
KY
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
THE ORGANIZATION
DUDLEY SQUARE 380 SOUTH MILL STREET
LEXINGTON,KY40508
(859) 255-4552
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) HELEN ALEXANDER
CHAIR
 .30 X   X       0 0 0
(2) LIBBY LLOYD JONES
VICE-CHAIR
 .30 X   X       0 0 0
(3) MICHAEL BURNS
SECRETARY
 .30 X   X       0 0 0
(4) DOUG DEAN
TREASURER
 .30 X   X       0 0 0
(5) LUCY BREATHITT
BOARD MEMBER
 .30 X           0 0 0
(6) LENDY BROWN
BOARD MEMBER
 .30 X           0 0 0
(7) ROBERT CLAY
BOARD MEMBER
 .30 X           0 0 0
(8) PHILIP DESIMONE
BOARD MEMBER
 .30 X           0 0 0
(9) LUKE FALLON
BOARD MEMBER
 .30 X           0 0 0
(10) LAUREL GARRETT
BOARD MEMBER
 .30 X           0 0 0
(11) MARGARET GRAVES
BOARD MEMBER
 .30 X           0 0 0
(12) BOO HARDY
BOARD MEMBER
 .30 X           0 0 0
(13) HOPPY HENTON
BOARD MEMBER
 .30 X           0 0 0
(14) BETTY KENAN
BOARD MEMBER
 .30 X           0 0 0
(15) NANA LAMPTON
BOARD MEMBER
 .30 X           0 0 0
(16) JOHN MAHAN
BOARD MEMBER
 .30 X           0 0 0
(17) BART MCFARLAND
BOARD MEMBER
 .30 X           0 0 0
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) CONNIE JO MILLER
BOARD MEMBER
 .30 X           0 0 0
(19) JOHN PHILLIPS
BOARD MEMBER
 .30 X           0 0 0
(20) MAEGAN FORD
EX-OFFICIO BOARD MEMBER
 .30 X           0 0 0
(21) MACKENZIE ROYCE
EXECUTIVE DIRECTOR
 40.00     X       91,485 0 3,856


















1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 91,485 0 3,856
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet0
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
 
No
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet0
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c 137,263
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		476,330
g Noncash contributions included in lines 1a-1f:$ 148,729
h Total. Add lines 1a-1f.......MediumBullet 613,593
Program Service Revenue Business Code
2a
b
c
d
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet  
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 6,176     6,176
4 Income from investment of tax-exempt bond proceeds..MediumBullet        
5 Royalties............MediumBullet        
(i) Real (ii) Personal
6a Gross Rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 146,603  
b Less: cost or other basis and sales expenses 146,632  
c Gain or (loss) -29  
d Net gain or (loss)..........MediumBullet -29     -29
8a Gross income from fundraising events (not including
$ 137,263
of contributions reported on line 1c). See Part IV, line 18 ...
a 68,935
b Less: direct expenses ...b 75,921
c Net income or (loss) from fundraising events..MediumBullet -6,986   -6,986
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet  
12 Total revenue. See Instructions....MediumBullet 612,754 0 0 -839
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21    
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22    
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16    
4 Benefits paid to or for members    
5 Compensation of current officers, directors, trustees, and key employees .... 95,341 76,273 9,534 9,534
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....        
7 Other salaries and wages 99,399 69,782 4,098 25,519
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) ....        
9 Other employee benefits ....... 17,473 13,105 1,223 3,145
10 Payroll taxes ........... 14,871 11,154 1,040 2,677
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 51,372 45,549 5,823  
c Accounting ........... 13,768   13,768  
d Lobbying ...........        
e Professional fundraising. See Part IV, line 17..    
f Investment management fees ......        
g Other .......... 23,183 20,441 2,742  
12 Advertising and promotion .... 440 440    
13 Office expenses ....... 17,493 11,920 4,187 1,386
14 Information technology ......        
15 Royalties ..        
16 Occupancy ........... 18,248 15,511 2,737  
17 Travel ............ 3,657 3,108 549  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ......        
19 Conferences, conventions, and meetings .... 432 324 108  
20 Interest ...........        
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization ..... 303   303  
23 Insurance ..............        
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a PUBLIC EDUCATION 18,526 18,526    
b DUES & SUBSCRIPTIONS 3,113 2,864 93 156
c CONTINUING EDUCATION 2,255 2,210   45
d LICENSES & FILING FEES 857 728 129  
e MISCELLANEOUS 96   96  
f All other expenses        
25 Total functional expenses. Add lines 1 through 24f 380,827 291,935 46,430 42,462
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 29,770 1 15,287
2 Savings and temporary cash investments ....... 482,596 2 265,949
3 Pledges and grants receivable, net ......... 33,796 3 165,448
4 Accounts receivable, net .........   4  
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges ............ 1,329 9 2,279
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 14,639
b Less: accumulated depreciation. ..... 10b 11,303 0 10c 3,336
11 Investments—publicly traded securities .......... 449,527 11 943,031
12 Investments—other securities. See Part IV, line 11 ......   12  
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ...........   15  
16 Total assets. Add lines 1 through 15 (must equal line 34)... 997,018 16 1,395,330
Liabilities 17 Accounts payable and accrued expenses . 9,341 17 16,403
18 Grants payable ..........   18  
19 Deferred revenue ..........   19  
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D.....   25  
26 Total liabilities. Add lines 17 through 25..... 9,341 26 16,403
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 633,686 27 772,216
28 Temporarily restricted net assets ..... 233,991 28 486,711
29 Permanently restricted net assets ..... 120,000 29 120,000
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 987,677 33 1,378,927
34 Total liabilities and net assets/fund balances ..... 997,018 34 1,395,330
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
612,754
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
380,827
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
231,927
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
987,677
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
159,323
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
1,378,927
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
Yes
 
b
Were the organization’s financial statements audited by an independent accountant?........
2b
 
No
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
 
No
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
 
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
BLUEGRASS CONSERVANCY INC
 
Employer identification number

61-1293032
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .... 424,500 531,374 342,340 521,207 613,593 2,433,014
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3.. 424,500 531,374 342,340 521,207 613,593 2,433,014
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..           377,381
6 Public Support. Subtract line 5 from line 4.           2,055,633
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
7 Amounts from line 4.. 424,500 531,374 342,340 521,207 613,593 2,433,014
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. 11,057 11,411 17,572 8,111 6,176 54,327
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).           2,487,341
12
12
314,893
13
Section C. Computation of Public Support Percentage
14
14
82.640 %
15
15
83.050 %
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public Support (Subtract line 7c from line 6.)            
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)            
13 Total support (Add lines 9, 10c, 11 and 12.).            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
BLUEGRASS CONSERVANCY INC
 
Employer identification number

61-1293032
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
BLUEGRASS CONSERVANCY INC
  		Employer identification number

61-1293032
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
BLUEGRASS CONSERVANCY INC
  		Employer identification number

61-1293032
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
BLUEGRASS CONSERVANCY INC
  		Employer identification number

61-1293032
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
BLUEGRASS CONSERVANCY INC
 
Employer identification number

61-1293032
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate 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? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may 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. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–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 74
b Total acreage restricted by conservation easements .................. 2b 11,279.00
c Number of conservation easements on a certified historic structure included in (a) ..... 2c 0
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d 0
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet0
4
Number of states where property subject to conservation easement is located SchDMd Bullet1
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet1040.00
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $ 28,077
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, 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" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, 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 XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, 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)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
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 SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
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?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to 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? ....................................
b
If "Yes," explain the arrangement in Part XIV 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? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to 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 .... 246,364 244,522 191,405
b Contributions ........ 100,000   50,000
c Investment earnings or losses ... 1,116 1,842 3,117
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ...... 347,480 246,364 244,522
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet62.430 %
b
Permanent endowment: SchDMd Bullet34.530 %
c
Term endowment: SchDMd Bullet3.040 %
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)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (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 ............        
d Equipment ................   14,639 11,303 3,336
e Other .................        
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 3,336
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. 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    
Other








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes  








Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Fin 48 (ASC 740) Footnote. In Part XIV, 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 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1  
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2  
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3  
4 Net unrealized gains (losses) on investments .......................... 4  
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8  
9 Total adjustments (net). Add lines 4 - 8 ............................. 9  
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10  
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3  
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  
b Other (Describe in Part XIV): ........... 4b  
c Add lines 4a and 4b....................... 4c  
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5  
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1  
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 XIV): ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3  
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  
b Other (Describe in Part XIV): ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5  
Part XIV
Supplemental Information
Complete this part to 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; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
EXPLANATION OF EASEMENTS ENFORCEMENT POLICIES: PART II, LINE 5: THE ORGANIZATION MONITORS EACH CONSERVATION EASEMENT BY PHYSICAL INSPECTION AT LEAST ANNUALLY. POTENTIAL AND ACTUAL VIOLATIONS MUST BE REVIEWED AND EVALUATED ON A CASE-BY-CASE BASIS APPLYING CRITERIA SET FORTH IN THE WRITTEN ENFORCEMENT POLICY. THE ORGANIZATION IS CURRENTLY REVISING ITS WRITTEN ENFORCEMENT POLICY BASED ON LAND TRUST ALLIANCE STANDARDS AND PRACTICES. THE REVISED POLICY WILL BE ADOPTED DURING 2011.
    PART II, LINE 8 - ALTHOUGH THE ORGANIZATION DOES NOT HAVE ANY CONSERVATION EASEMENTS AS DESCRIBED IN PART II LINES 2C AND 2D, THE SOFTWARE UTILIZED TO PREPARE THE FORM 990 REQUIRED US TO ANSWER YES OR NO TO THIS QUESTION. LEAVING THIS QUESTION BLANK WAS NOT AN OPTION.
    PART II, LINE 9: CONSERVATION EASEMENTS DO NOT PROVIDE FORESEEABLE FUTURE CASH FLOW BENEFITS THUS THE ORGANIZATION DOES NOT ASSIGN AN ASSET VALUE TO THEM.
    PART V, LINE 4: THE ENDOWMENT FUNDS WERE ESTABLISHED TO SUPPORT THE ORGANIZATION'S OPERATIONS.
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE G
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19,
or if the organization entered more than $15,000 on Form 990-EZ, line 6a.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
BLUEGRASS CONSERVANCY INC
 
Employer identification number

61-1293032
Part I
Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If “Yes,” list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization. Form 990-EZ filers are not required to complete this table.
(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
Total .................right arrow      
3
List all states in which the organization is registered or licensed to solicit funds or has been notified it is exempt from registration or licensing.
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2010
Schedule G (Form 990 or 990-EZ) 2010
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 on Form 990-EZ, line 6a. List events with gross receipts greater than $5,000.
(a) Event #1

POLO IN THE PARK
(event type) 		(b) Event #2

BENEFIT AUCTION
(event type) 		(c) Other Events

3
(total number) 		(d) Total Events
(Add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . . 57,965 130,935 17,298 206,198
2 Less: Charitable
contributions . . . 		  124,510 12,753 137,263
3 Gross income (line 1
minus line 2) . . . 		57,965 6,425 4,545 68,935
VerticalDirectExpenses 4 Cash prizes . . .        
5 Non-cash prizes . .     914 914
6 Rent/facility costs . . 10,632 542 1,356 12,530
7 Food and beverages . . 9,054 10,451 6,443 25,948
8 Entertainment . . . 575 1,000 350 1,925
9 Other direct expenses . 16,019 14,350 4,235 34,604
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow 75,921
11 Net income summary. Combine lines 3 and 10 in column (d)............ right arrow -6,986
Part III
Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue (a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (Add col. (a) through col. (c))
1 Gross revenue . . . .        
VerticalDirectExpenses 2 Cash prizes . . . .        
3 Non-cash prizes . . .        
4 Rent/facility costs . . .        
5 Other direct expenses . .        
6 Volunteer labor . . .
 
 
 
7 Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow  
8 Net gaming income summary. Combine lines 1 and 7 in column (d) .......... right arrow  
9
Enter the state(s) in which the organization operates gaming activities:
a
Is the organization licensed to operate gaming activities in each of these states? ............
b
If "No," Explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....
b
If "Yes," Explain:
 
11
Does the organization operate gaming activities with nonmembers? .................
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? ...........................
Schedule G (Form 990 or 990-EZ) 2010
Schedule G (Form 990 or 990-EZ) 2010
Page 3
13
Indicate the percentage of gaming activity operated in:
a
The organization's facility ......................
13a
 
b
An outside facility ........................
13b
 
14
Provide the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? ......................................
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $   .
c
If "Yes," enter name and address:
Name right arrow
Address right arrow
 
 
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? ............................
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Complete this part to provide additional information for responses to quuestion on Schedule G (see instructions.)
Identifier ReturnReference Explanation
Schedule G (Form 990 or 990-EZ) 2010
Additional Data


Software ID:  
Software Version:  
SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
NonCash Contributions
Right pointing arrow large imageComplete if the organization answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
BLUEGRASS CONSERVANCY INC
 
Employer identification number

61-1293032
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of Contributions or items contributed 		(c)
Contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 2 143,915 FMV AT DATE OF DONATION
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		X 6   N/A
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( MISCELLANEOUS EVENT PRIZES ) X 7 4,814 ESTIMATED FMV AT DATE OF DONATION
26 Other Right pointing arrow large image( )
27 Other Right pointing arrow large image( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
3
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1-28 that it
must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell non-cash
contributions? ............................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization did not report revenues in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) 2010
Schedule M (Form 990) 2010
Page 2
Part II
Supplemental Information. Complete this part to provide the information required by Part I, lines 30b,
32b, and 33. Also complete this part for any additional information.
Identifier Return Reference Explanation
NON REPORTING OF REVENUE: PART I, LINE 33: CONSERVATION EASEMENTS DO NOT PROVIDE FORESEEABLE FUTURE CASH FLOW BENEFITS THUS THE ORGANIZATION DOES NOT ASSIGN A VALUE TO THEM.
Schedule M (Form 990) 2010
Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
BLUEGRASS CONSERVANCY INC
 
Employer identification number

61-1293032
Identifier Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 2   BOARD MEMBERS ELIZABETH LLOYD JONES AND LUCY ALEXANDER WINCHESTER BREATHITT HAVE A FAMILY RELATIONSHIP. BOARD MEMBERS ELIZABETH PARRISH KENAN AND LUCY ALEXANDER WINCHESTER BREATHITT HAVE A FAMILY RELATIONSHIP.
FORM 990, PART VI, SECTION A, LINE 4   THE ORGANIZATION'S ARTICLES OF INCORPORATION AND BYLAWS WERE AMENDED AND RESTATED IN 2010. SEE DETAILED DESCRIPTION OF CHANGES BELOW.
FORM 990, PART VI, SECTION B, LINE 11   THE FORM 990 WAS PROVIDED TO THE GOVERNING BOARD BEFORE FILING. THE EXECUTIVE DIRECTOR AND TREASURER/FINANCE AND INVESTMENT COMMITTEE CHAIR REVIEW THE FORM 990 AFTER PREPARATION BY INDEPENDENT FULLY COMPENSATED PROFESSIONALS, BEFORE PROVIDING TO THE GOVERNING BOARD, AND BEFORE FILING.
  FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATIONS CONFLICT OF INTEREST POLICY REQUIRES PERIODIC REVIEWS, WHICH MAY INCLUDE OUTSIDE ADVISORS, IN ADDITION TO ANNUALLY SIGNED AND SUBMITTED STATEMENTS.
  FORM 990, PART VI, SECTION B, LINE 15A A QUORUM OF THE BOARD OF DIRECTORS REVIEWS AND APPROVES EXECUTIVE DIRECTOR COMPENSATION. THE PROCESS IS UNDERTAKEN EITHER ANNUALLY OR EVERY TWO YEARS. THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES, AS DEFINED IN THE FORM 990 INSTRUCTIONS, WHO RECEIVE COMPENSATION.
  FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS ARTICLES OF INCORPORATION AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE ONLINE AT THE KENTUCKY SECRETARY OF STATE WEBSITE OR AVAILABLE BY REQUEST. THE ARTICLES OF INCORPORATION ARE ALSO FILED AND AVAILABLE FOR PUBLIC INSPECTION THROUGH THE FAYETTE COUNTY, KENTUCKY CLERK. ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST. THE ORGANIZATIONS FORM 990 IS AVAILABLE TO THE PUBLIC ONLINE AT WWW.GUIDESTAR.COM.
AMENDED AND RESTATED ARTICLES OF INCORPORATION FORM 990, PART VI, LINE 4 ARTICLE II, PURPOSES AND POWERS, (2)(B) FROM: AS PARTICULAR PURPOSES IN FURTHERANCE OF, CONSISTENT WITH, AND SUBJECT TO, THE GENERAL AND CONTROLLING PURPOSES SET FORTH IN SECTION (2)(A) OF THIS ARTICLE II: (I) TO ACT AS A REGIONAL LAND CONSERVANCY FOR PUBLICLY SUPPORTED ORGANIZATIONS THAT PROVIDE SOLUTIONS TO PROBLEMS RELATED TO LAND USE, TRANSPORTATION, ECONOMIC DEVELOPMENT, NATURAL RESOURCES, RECREATION AND TOURISM IN THE SEVEN-COUNTY BLUEGRASS REGION OF KENTUCKY (COMPRISED OF THE COUNTIES OF BOURBON, CLARK, FAYETTE, JESSAMINE, MADISON, SCOTT AND WOODFORD); (II) TO PROTECT AND ENHANCE THE EXCEPTIONAL RURAL LANDSCAPE OF THE SEVEN-COUNTY BLUEGRASS REGION OF KENTUCKY THROUGH CONSERVATION, PRESERVATION AND ANY OTHER APPROPRIATE MEANS; AND (III) TO ORGANIZE, PROMOTE, FOSTER, ASSIST (WHETHER FINANCIALLY OR OTHERWISE) AND CONDUCT SUCH CHARITABLE, SCIENTIFIC, LITERARY, RELIGIOUS OR EDUCATIONAL ENTERPRISES, ACTIVITIES AND INSTITUTIONS AS FROM TIME TO TIME MAY BE DETERMINED, SELECTED OR DECIDED UPON BY THE CORPORATIONS BOARD OF DIRECTORS CONSISTENT WITH THE PURPOSES STATED ABOVE. TO: AS PARTICULAR PURPOSES IN FURTHERANCE OF, CONSISTENT WITH, AND SUBJECT TO, THE GENERAL AND CONTROLLING PURPOSES SET FORTH IN SECTION (2)(A) OF THIS ARTICLE II, TO ACT AS A NONPROFIT LAND TRUST TO PROTECT THE AGRICULTURAL VIABILITY, NATURAL HABITAT, RURAL HERITAGE, AND SCENIC OPEN SPACE OF THE COUNTIES IN AND ADJACENT TO THE INNER BLUEGRASS REGION OF KENTUCKY, INCLUDING BUT NOT LIMITED TO ANDERSON, BOURBON, BOYLE, CLARK, FAYETTE, FRANKLIN, JESSAMINE, MERCER, SCOTT, AND WOODFORD, THROUGH LAND CONSERVATION FOR THE PUBLIC BENEFIT; ARTICLE II, PURPOSES AND POWERS, (2)(C)(I), (IV), (V), AND (VII) FROM: IN FURTHERANCE OF, AND AT ALL TIMES SUBJECT TO, THE AFORESAID PURPOSES, ENTERPRISES, ACTIVITIES AND PROJECTS: (I) TO SOLICIT AND ACQUIRE BY GIFT, EXCHANGE OR OTHERWISE, PROPERTY OF ANY AND ALL KINDS, AND TO SELL, TRANSFER AND OTHERWISE DISPOSE OF ANY PROPERTY IT SO ACQUIRES; (IV) TO TAKE TITLE TO, AND HOLD IN ITS OWN NAME, SUCH REAL OR PERSONAL PROPERTY, OR BOTH, AND SUCH INTERESTS EITHER SUCH TYPE OF PROPERTY AS THE CORPORATION MAY ACQUIRE, FOR THE PURPOSES HEREIN SET OUT, AND TO SELL, TRANSFER AND DISPOSE OF ANY SUCH PROPERTY OR REINVEST THE PROCEEDS THEREOF AS HEREIN PERMITTED; (V) TO ACCEPT GIFTS, BEQUESTS OR DEVISES OF PROPERTY OF ANY KIND WHICH ANY INDIVIDUAL, FIRM, CORPORATION OR OTHER ENTITY MAY MAKE TO THE CORPORATION, UPON THE TERMS, TRUSTS AND CONDITIONS SET FORTH IN THE DEED OF GIFT, WILL OR OTHER INSTRUMENT OF WRITING, EXECUTED BY ANY SUCH DONOR OR TESTATOR, BUT ONLY FOR THE PURPOSES AND UPON THE TERMS AND CONDITIONS AND WITH THE POWERS SET FORTH IN THESE ARTICLES OF INCORPORATION; (VII) TO BECOME A MEMBER OF ANY OTHER NONSTOCK OR NONPROFIT CORPORATION ORGANIZED UNDER THE LAWS OF ANY STATE, OR TO BECOME AFFILIATED WITH ANY OTHER ORGANIZATION OF LIKE CHARACTER EXISTING UNDER THE LAWS OF ANY STATE; PROVIDED, HOWEVER, THAT SUCH CORPORATION OR ORGANIZATION-IS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE; TO: IN FURTHERANCE OF, AND AT ALL TIMES SUBJECT TO, THE AFORESAID PURPOSES, ENTERPRISES, ACTIVITIES AND PROJECTS: (I) TO SOLICIT AND ACQUIRE BY GIFT, EXCHANGE, PURCHASE, OR OTHERWISE TAKE TITLE TO, AND HOLD IN ITS OWN NAME, REAL AND PERSONAL PROPERTY OF ANY AND ALL KINDS, INCLUDING, BUT NOT LIMITED TO, CONSERVATION EASEMENTS, AND TO SELL, TRANSFER AND OTHERWISE DISPOSE OF ANY PROPERTY IT SO ACQUIRES; (V) TO BECOME A MEMBER OF ANY OTHER NONSTOCK OR NONPROFIT CORPORATION ORGANIZED UNDER THE LAWS OF ANY STATE, OR TO BECOME AFFILIATED WITH ANY OTHER ORGANIZATION OF LIKE CHARACTER EXISTING UNDER THE LAWS OF ANY STATE; ARTICLE II, PURPOSES AND POWERS, (3) DELETED: IT IS INTENDED THAT THE CORPORATION SHALL BE AN ORGANIZATION DESCRIBED IN SECTION 509(A)(3) OF THE CODE, OPERATED, SUPERVISED OR CONTROLLED BY, OR SUPERVISED OR CONTROLLED IN CONNECTION WITH BLUEGRASS TOMORROW, INC. AND OTHER PUBLICLY SUPPORTED ORGANIZATIONS (AS ARE DESCRIBED IN SECTIONS 509(A)(1) OR 509(A)(2) OF THE CODE) INVOLVED WITH PROVIDING SOLUTIONS TO PROBLEMS RELATED TO LAND USE, TRANSPORTATION, ECONOMIC DEVELOPMENT, NATURAL RESOURCES, RECREATION AND TOURISM IN THE SEVEN-COUNTY BLUEGRASS REGION OF KENTUCKY.
AMENDED AND RESTATED BYLAWS FORM 990, PART VI, LINE 4 ARTICLE IV, DIRECTORS, 4.2, NUMBER, TENURE AND QUALIFICATIONS FROM: THE BOARD OF DIRECTORS SHALL CONSIST OF NOT LESS THAN THREE (3) INDIVIDUALS NOR MORE THAN TWENTY-ONE (21) AND UNTIL OTHERWISE CHANGED BY AN AMENDMENT TO THESE BY-LAWS, SHALL CONSIST OF SEVEN (7) INDIVIDUALS. NO LESS THAN A MAJORITY OF THE INITIAL BOARD OF DIRECTORS SHALL BE ELECTED BY THE BOARD OF DIRECTORS OF BLUEGRASS TOMORROW, INC. (HEREINAFTER CLASS A DIRECTORS). CLASS A DIRECTORS MAY ELECT ADDITIONAL MEMBERS TO THE BOARD OF DIRECTORS (HEREINAFTER CLASS B DIRECTORS), PROVIDED THAT CLASS A DIRECTORS MAINTAIN A MAJORITY ON THE BOARD OF DIRECTORS, THE INITIAL TERM OF THE CLASS A DIRECTORS SHALL EXPIRE AT THE 1998 ANNUAL MEETING OF THE BOARD OF DIRECTORS. THE INITIAL TERM OF THE CLASS B DIRECTORS SHALL EXPIRE AT THE 1997 ANNUAL MEETING OF THE BOARD OF DIRECTORS. THEREAFTER, EACH DIRECTOR (CLASS A AND CLASS B DIRECTORS) SHALL HOLD OFFICE FOR A TERM OF THREE YEARS OR UNTIL SUCH DIRECTOR'S SUCCESSOR SHALL BE ELECTED AND QUALIFIED, WHICHEVER PERIOD IS LONGER. THE CLASS A DIRECTORS SHALL APPOINT THEIR OWN SUCCESSORS, SUBJECT TO THE APPROVAL OF THE BOARD OF DIRECTORS OF BLUEGRASS TOMORROW, INC. THE DIRECTORS NEED NOT BE RESIDENTS OF THE COMMONWEALTH OF KENTUCKY. EACH DIRECTOR SHALL BE ELIGIBLE FOR REELECTION. TO: (A) THE BOARD OF DIRECTORS SHALL CONSIST OF NOT LESS THAN THREE (3) INDIVIDUALS NOR MORE THAN TWENTY ONE (21) INDIVIDUALS. EACH DIRECTOR SHALL HOLD OFFICE FOR A TERM OF THREE YEARS OR UNTIL SUCH DIRECTORS SUCCESSOR SHALL BE ELECTED AND QUALIFIED, WHICHEVER PERIOD IS LONGER. THE DIRECTORS NEED NOT BE RESIDENTS OF THE COMMONWEALTH OF KENTUCKY. EACH DIRECTOR SHALL BE ELIGIBLE FOR RE-ELECTION. (B) THE BOARD OF DIRECTORS MAY APPOINT EX-OFFICIO MEMBERS OF THE BOARD. EX-OFFICIO BOARD MEMBERS SHALL HAVE THE SAME POWERS AND RESPONSIBILITIES AS DIRECTORS DESCRIBED IN PARAGRAPH 4.2(A), INCLUDING THE FIDUCIARY DUTIES OF CARE, LOYALTY, AND CONFIDENTIALITY TO THE CORPORATION. ARTICLE IV, DIRECTORS, 4.3, REMOVAL AND RESIGNATIONS FROM: CLASS A DIRECTORS MAY BE REMOVED, WITH OR WITHOUT CAUSE, BY A MAJORITY VOTE OF THE CLASS A DIRECTORS. AT A MEETING OF THE BOARD OF DIRECTORS CALLED EXPRESSLY FOR THAT PURPOSE, ANY OR ALL CLASS B DIRECTORS MAY BE WITH OR WITHOUT CAUSE, BY A VOTE OF A MAJORITY OF DIRECTORS THEN ENTITLED TO VOTE AT AN ELECTION OF DIRECTORS. ANY MEMBER OF THE BOARD OF DIRECTORS MAY RESIGN FROM THE BOARD OF DIRECTORS AT ANY TIME BY GIVING WRITTEN NOTICE TO THE CHAIRMAN OR SECRETARY OF THE CORPORATION, AND UNLESS OTHERWISE SPECIFIED THEREIN, THE ACCEPTANCE OF SUCH RESIGNATION SHALL NOT BE NECESSARY TO MAKE IT EFFECTIVE. TO: AT A MEETING OF THE BOARD OF DIRECTORS CALLED EXPRESSLY FOR THAT PURPOSE, ANY DIRECTOR MAY BE REMOVED WITH OR WITHOUT CAUSE, BY A VOTE OF A MAJORITY OF DIRECTORS THEN ENTITLED TO VOTE AT AN ELECTION OF DIRECTORS. ANY MEMBER OF THE BOARD OF DIRECTORS MAY RESIGN FROM THE BOARD OF DIRECTORS AT ANY TIME BY GIVING WRITTEN NOTICE TO THE CHAIR OR SECRETARY OF THE CORPORATION, AND UNLESS OTHERWISE SPECIFIED THEREIN, THE ACCEPTANCE OF SUCH RESIGNATION SHALL NOT BE NECESSARY TO MAKE IT EFFECTIVE. ARTICLE IV, DIRECTORS, 4.8, MANNER OF ACTING FROM: THE ACT OF THE MAJORITY OF THE DIRECTORS PRESENT AT A MEETING AT WHICH A QUORUM IS PRESENT SHALL BE THE ACT OF THE BOARD OF DIRECTORS, UNLESS OTHERWISE REQUIRED BY THE ARTICLES OF INCORPORATION OR THESE BY-LAWS. TO: THE ACT OF THE MAJORITY OF THE DIRECTORS PRESENT AT A MEETING AT WHICH A QUORUM IS PRESENT SHALL BE THE ACT OF THE BOARD OF DIRECTORS, UNLESS OTHERWISE REQUIRED BY THE ARTICLES OF INCORPORATION OR THESE BY-LAWS. UNLESS OTHERWISE PROVIDED BY LAW, THE ARTICLES OF INCORPORATION OR THESE BY-LAWS, THE BOARD OF DIRECTORS MAY DELEGATE SUCH POWERS AS IT SHALL DEEM NECESSARY OR DESIRABLE. ARTICLE IV, DIRECTORS, 4.9, VACANCIES FROM: ANY VACANCY OCCURRING IN THE BOARD A DIRECTORS MAY BE FILLED BY THE AFFIRMATIVE VOTE OF THE MAJORITY, OF THE REMAINING DIRECTORS BELONGING TO THE SAME CLASS OF DIRECTORS IN WHICH THE VACANCY OCCURRED THOUGH LESS THAN A QUORUM OF THAT CLASS OF DIRECTORS. A DIRECTOR ELECTED TO FILL A VACANCY SHALL BE ELECTED FOR THE UNEXPIRED TERM OF SUCH DIRECTOR'S PREDECESSOR IN OFFICE. ANY DIRECTORSHIP TO BE FILLED BY REASON OF AN INCREASE IN THE NUMBER OF DIRECTORS MAY BE FILLED IN THE SAME MANNER AS A VACANCY IN OFFICE FOR A TERM OF OFFICE CONTINUING ONLY UNTIL THE NEXT GENERAL ELECTION OF DIRECTORS. TO: WHENEVER THERE IS A VACANCY ON THE BOARD OF DIRECTORS BY REASON OF DEATH, RESIGNATION, REMOVAL, OR INCREASE IN THE NUMBER OF DIRECTORS OR OTHERWISE, IT SHALL BE FILLED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE REMAINING DIRECTORS THOUGH LESS THAN A QUORUM OF THE BOARD. THE DIRECTOR(S) SO APPOINTED SHALL HOLD OFFICE FOR THE UNEXPIRED TERM OF HIS OR HER PREDECESSOR IN OFFICE. ARTICLE IV, DIRECTORS, 4.13 EMPLOYEES OF THE CORPORATION ADDED: THE CORPORATION SHALL HAVE SUCH EMPLOYEES AS THE BOARD OF DIRECTORS MAY DETERMINE APPROPRIATE AND NECESSARY. THE BOARD OF DIRECTORS MAY DELEGATE TO THE EXECUTIVE DIRECTOR, THE EXECUTIVE COMMITTEE, OR THE PERSONNEL COMMITTEE, THE RESPONSIBILITY FOR DETERMINING THE COMPENSATION, EMPLOYEE BENEFITS, TITLE, AND RESPONSIBILITIES OF ANY EMPLOYEES OTHER THAN THE EXECUTIVE DIRECTOR. ARTICLE IV, DIRECTORS, 4.14, EXECUTIVE DIRECTOR ADDED: THE EXECUTIVE DIRECTOR, IF ANY, IS APPOINTED BY THE BOARD OF DIRECTORS AND SERVES, WITHOUT VOTE, AS AN EX-OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE AND ALL OTHER BOARD COMMITTEES. THE EXECUTIVE DIRECTOR SERVES AT THE PLEASURE OF THE BOARD OF DIRECTORS AND IS RESPONSIBLE FOR IMPLEMENTATION OF POLICIES AS ESTABLISHED BY THE BOARD OF DIRECTORS AND THE MANAGEMENT AND STAFFING OF THE CORPORATION, SUBJECT TO REVIEW BY THE BOARD OF DIRECTORS. THE EXECUTIVE DIRECTOR SHALL HAVE SUCH COMPENSATION, BENEFITS, POWERS, DUTIES, AND RESPONSIBILITIES AS SHALL BE DETERMINED BY THE BOARD OF DIRECTORS. ARTICLE V, OFFICERS, 5.1, CLASSES FROM: THE OFFICERS OF THE CORPORATION SHALL BE A CHAIRMAN, A VICE CHAIRMAN, A SECRETARY AND A TREASURER, EACH OF WHOM SHALL BE ELECTED BY THE BOARD OF DIRECTORS. SUCH OTHER OFFICERS AND ASSISTANT OFFICERS AS MAY BE DEEMED NECESSARY MAY BE ELECTED OR APPOINTED BY THE BOARD OF DIRECTORS. ANY TWO OR MORE OFFICES MAY BE HELD BY THE SAME PERSON. TO: THE OFFICERS OF THE CORPORATION SHALL BE A CHAIR, A VICE-CHAIR, A SECRETARY, AND A TREASURER, EACH OF WHOM SHALL BE ELECTED BY THE BOARD OF DIRECTORS. SUCH OTHER OFFICERS AND ASSISTANT OFFICERS AS MAY BE DEEMED NECESSARY MAY BE ELECTED OR APPOINTED BY THE BOARD OF DIRECTORS. ANY TWO OF THE OFFICES OF VICE-CHAIR, SECRETARY, AND TREASURER MAY BE HELD BY THE SAME PERSON. ARTICLE V, OFFICERS, 5.2, ELECTION AND TERM FROM: THE OFFICERS OF THE CORPORATION SHALL BE ELECTED BY THE BOARD OF DIRECTORS AT THE FIRST, AND THEREAFTER AT EACH ANNUAL, MEETING OF THE BOARD OF DIRECTORS. IF THE ELECTION OF OFFICERS SHALL NOT BE HELD AT ANY SUCH MEETING, SUCH ELECTION SHALL BE HELD AS SOON THEREAFTER AS IS PRACTICABLE. VACANCIES MAY BE FILLED OR NEW OFFICES CREATED AND FILLED AT ANY MEETING OF THE BOARD OF DIRECTORS. EACH OFFICER SHALL HOLD OFFICE UNTIL SUCH OFFICERS SUCCESSOR SHALL BE DULY ELECTED OR UNTIL SUCH OFFICERS DEATH OR UNTIL SUCH OFFICER SHALL RESIGN OR SHALL HAVE BEEN REMOVED IN THE MANNER HEREINAFTER PROVIDED. TO: OFFICERS OF THE CORPORATION SHALL BE ELECTED FOR THREE (3) YEAR TERMS, OR UNTIL SUCH OFFICERS SUCCESSOR IS ELECTED AND QUALIFIED, WHICHEVER IS LONGER. TERMS SHALL COMMENCE AT THE ANNUAL MEETING AT WHICH SUCH OFFICER IS ELECTED. IF THE ELECTION OF OFFICERS SHALL NOT BE HELD AT ANY SUCH MEETING, SUCH ELECTION SHALL BE HELD AS SOON THEREAFTER AS IS PRACTICABLE. THE OFFICERS SHALL HOLD OFFICE UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED, UNTIL DEATH, RESIGNATION, OR REMOVAL. VACANCIES SHALL BE FILLED BY THE BOARD OF DIRECTORS BY MAJORITY VOTE. ANY ELECTED OFFICER MAY BE REMOVED BY MAJORITY VOTE WHENEVER THE BEST INTEREST OF THE CORPORATION WOULD BE SERVED. OFFICERS MAY BE ELECTED FOR SUCCESSIVE TERMS. ARTICLE V, OFFICERS, 5.9, ASSISTANT TREASURERS AND ASSISTANT SECRETARIES DELETED: (A) THE ASSISTANT TREASURER, IF THAT OFFICE BE CREATED AND FILLED, SHALL, IF REQUIRED BY THE BOARD OF DIRECTORS, GIVE BOND FOR THE FAITHFUL DISCHARGE OF THE ASSISTANT TREASURERS DUTIES IN SUCH SUM AND WITH SUCH SURETY AS THE BOARD OF DIRECTORS SHALL DETERMINE. (B) THE ASSISTANT TREASURERS AND ASSISTANT SECRETARIES, IN GENERAL, SHALL PERFORM SUCH ADDITIONAL DUTIES AS SHALL BE ASSUMED TO THEM BY THE TREASURER OR THE SECRETARY, RESPECTIVELY, OR BY THE CHAIRMAN OF THE BOARD, THE PRESIDENT OR THE BOARD OF DIRECTORS.
AMENDED AND RESTATED BYLAWS FORM 990, PART VI, LINE 4 ARTICLE VII, EXECUTIVE AND OTHER COMMITTEES, 7.1, EXECUTIVE COMMITTEE FROM: THE BOARD OF DIRECTORS, BY RESOLUTION ADOPTED BY A MAJORITY OF THE FULL BOARD, MAY DESIGNATE FROM AMONG ITS MEMBERS AN EXECUTIVE COMMITTEE CONSISTING OF AT LEAST THREE (3) DIRECTORS, A MAJORITY OF WHICH ARE CLASS A DIRECTORS. (A) AUTHORITY. WHEN THE BOARD OF DIRECTORS IS NOT IN SESSION, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD OF DIRECTORS, EXCEPT TO THE EXTENT, IF ANY, THAT SUCH AUTHORITY SHALL BE LIMITED BY THE RESOLUTION APPOINTING THE EXECUTIVE COMMITTEE, AND EXCEPT ALSO THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY OF THE BOARD OF DIRECTORS IN REFERENCE TO AMENDING, ALTERING OR REPEALING THESE BY-LAWS, APPOINTING OR REMOVING ANY MEMBER OF THE EXECUTIVE COMMITTEE OR ANY DIRECTOR OR OFFICER OF THE CORPORATION, AMENDING THE ARTICLES OF INCORPORATION, RESTATING THE ARTICLES OF INCORPORATION, ADOPTING A PLAN OF MERGER OR CONSOLIDATION ANOTHER CORPORATION, AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CORPORATION, AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE CORPORATION OR REVOKING PROCEEDINGS THEREFOR, ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE CORPORATION, OR AMENDING, ALTERING OR REPEALING ANY RESOLUTION OF THE BOARD OF DIRECTORS WHICH BY ITS TERMS PROVIDES THAT IT SHALL NOT BE AMENDED, ALTERED OR REPEALED BY THE EXECUTIVE COMMITTEE. (B) TENURE AND QUALIFICATIONS. EACH MEMBER OF THE EXECUTIVE COMMITTEE SHALL HOLD OFFICE UNTIL THE NEXT REGULAR MEETING OF THE BOARD OF DIRECTORS FOLLOWING SUCH EXECUTIVE COMMITTEE MEMBERS DESIGNATION AND UNTIL SUCH EXECUTIVE COMMITTEE MEMBER'S SUCCESSOR SHALL BE DULY DESIGNATED AND QUALIFIED. (D) QUORUM. A MAJORITY OF THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS AT ANY MEETING THEREOF. ACTION OF THE EXECUTIVE COMMITTEE MUST BE AUTHORIZED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE EXECUTIVE COMMITTEE MEMBERS PRESENT AT A MEETING AT WHICH A QUORUM IS PRESENT. (F) VACANCIES. ANY VACANCY IN THE EXECUTIVE COMMITTEE MAY BE FILLED BY A RESOLUTION ADOPTED BY A MAJORITY OF THE FULL BOARD OF DIRECTORS. (G) RESIGNATIONS AND REMOVAL. ANY MEMBER OF THE EXECUTIVE COMMITTEE MAY BE REMOVED AT ANY TIME, WITH OR WITHOUT CAUSE, BY RESOLUTION ADOPTED BY A MAJORITY OF THE FULL BOARD OF DIRECTORS. ANY MEMBER OF THE EXECUTIVE COMMITTEE MAY RESIGN FROM THE EXECUTIVE COMMITTEE AT ANY TIME BY GIVING WRITTEN NOTICE TO THE PRESIDENT OR SECRETARY OF THE CORPORATION, AND UNLESS OTHERWISE SPECIFIED THEREIN, THE ACCEPTANCE OF SUCH RESIGNATION SHALL NOT BE NECESSARY TO MAKE IT EFFECTIVE. TO: (A) MEMBERSHIP AND QUORUM. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, VICE-CHAIR, TREASURER, SECRETARY, AND TWO DIRECTORS AT LARGE WHO SHALL BE APPOINTED BY THE CHAIR WITH THE BOARDS APPROVAL. THE EXECUTIVE DIRECTOR SHALL SERVE AS AN EX-OFFICIO MEMBER WITHOUT VOTING RIGHTS. A QUORUM SHALL BE THREE (3) VOTING MEMBERS. THE CHAIR OF THE BOARD OF DIRECTORS SHALL PRESIDE AT ALL EXECUTIVE COMMITTEE MEETINGS, AND IN THE CHAIRS ABSENCE, THE VICE-CHAIR SHALL PRESIDE. ACTION OF THE EXECUTIVE COMMITTEE MUST BE AUTHORIZED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE EXECUTIVE COMMITTEE MEMBERS PRESENT AT A MEETING AT WHICH A QUORUM IS PRESENT. (B) DUTY AND AUTHORITY. THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR THE TRANSACTION OF NECESSARY BUSINESS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS AND OTHER BUSINESS THAT MAY BE REFERRED TO IT BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL MAKE A COMPLETE REPORT OF ITS ACTIONS TO THE BOARD OF DIRECTORS AND THE BOARD SHALL RATIFY THE ACTIONS AT THEIR NEXT MEETING. THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY OF THE BOARD OF DIRECTORS IN REFERENCE TO AMENDING, ALTERING OR REPEALING THESE BY-LAWS, APPOINTING OR REMOVING ANY MEMBER OF THE EXECUTIVE COMMITTEE OR ANY DIRECTOR OR OFFICER OF THE CORPORATION, AMENDING THE ARTICLES OF INCORPORATION, RESTATING THE ARTICLES OF INCORPORATION, ADOPTING A PLAN OF MERGER OR CONSOLIDATION ANOTHER CORPORATION, AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CORPORATION, AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE CORPORATION OR REVOKING PROCEEDINGS THEREFORE, ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE CORPORATION, AMENDING, ALTERING OR REPEALING ANY RESOLUTION OF THE BOARD OF DIRECTORS WHICH BY ITS TERMS PROVIDES THAT IT SHALL NOT BE AMENDED, ALTERED OR REPEALED BY THE EXECUTIVE COMMITTEE, HIRING OR FIRING THE EXECUTIVE DIRECTOR, OR APPROVING THE ANNUAL BUDGET OF THE CORPORATION. ARTICLE VII, EXECUTIVE AND OTHER COMMITTEES, 7.2, OTHER COMMITTEES FROM: THE BOARD OF DIRECTORS, BY RESOLUTION ADOPTED BY MAJORITY OF THE FULL BOARD, MAY DESIGNATE FROM AMONG ITS MEMBERS SUCH OTHER COMMITTEES AS FROM TIME TO TIME IT MAY CONSIDER NECESSARY OR APPROPRIATE TO CONDUCT THE AFFAIRS OF THE CORPORATION, EACH OF WHICH COMMITTEES SHALL CONSIST OF AT LEAST THREE (3) DIRECTORS OF WHICH A MAJORITY ARE CLASS A DIRECTORS. EACH SUCH COMMITTEE SHALL HAVE SUCH POWER AND AUTHORITY AS THE BOARD OF DIRECTORS MAY, FROM TIME TO TIME, LEGALLY ESTABLISH FOR IT. THE TENURE AND QUALIFICATIONS OF THE MEMBERS OF EACH COMMITTEE; THE TIME, PLACE AND ORGANIZATION OF SUCH COMMITTEES MEETINGS; THE NOTICE REQUIRED TO CALL ANY SUCH MEETING; THE NUMBER OF MEMBERS OF EACH SUCH COMMITTEE THAT SHALL CONSTITUTE A QUORUM; THE AFFIRMATIVE VOTE OF THE COMMITTEE MEMBERS REQUIRED EFFECTIVELY TO TAKE ACTION AT ANY MEETING AT WHICH A QUORUM IS PRESENT; THE ACTION THAT ANY SUCH COMMITTEE CAN TAKE WITHOUT A MEETING; THE METHOD IN WHICH A VACANCY AMONG THE MEMBERS OF SUCH COMMITTEE CAN BE FILLED AND THE PROCEDURES BY WHICH RESIGNATIONS AND REMOVALS OF MEMBERS OF SUCH COMMITTEE SHALL BE ACTED UPON OR ACCOMPLISHED SHALL BE MIXED BY THE RESOLUTION ADOPTED BY THE BOARD OF DIRECTORS RELATIVE TO SUCH MATTERS. TO: THE BOARD OF DIRECTORS OR THE CHAIR MAY AT ANY TIME APPOINT STANDING COMMITTEES TO CONSIST OF AS MANY DIRECTORS, OUTSIDE ADVISORS, AND VOLUNTEERS AS SEEMS REASONABLE TO THE BOARD, EXCEPT DIRECTORS SHALL COMPRISE A MAJORITY OF EACH COMMITTEE. EACH SUCH COMMITTEE SHALL HAVE SUCH POWER AND AUTHORITY AS THE BOARD OF DIRECTORS MAY FROM TIME TO TIME LEGALLY ESTABLISH FOR IT. A CHAIR MAY BE APPOINTED FOR EACH COMMITTEE BY THE BOARD OF DIRECTORS OR THE CHAIR. COMMITTEES SHALL MEET AT THE TIME AND PLACES DESIGNATED BY THE COMMITTEE CHAIR. (A) COMMITTEE QUORUM. A MAJORITY OF ANY COMMITTEE OF THE CORPORATION SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS, UNLESS ANY COMMITTEE SHALL BY A MAJORITY VOTE OF ITS ENTIRE MEMBERSHIP DECIDE OTHERWISE. (B) COMMITTEE VACANCIES. THE BOARD OF DIRECTORS, THE CHAIR, OR THE COMMITTEE CHAIR SHALL HAVE THE POWER TO FILL VACANCIES IN THE COMMITTEES. ARTICLE IX, MISCELLANEOUS, 9.9, NO PRIVATE INUREMENT, NO SUBSTANTIAL LOBBYING, AND NO PARTICIPATION IN POLITICAL CAMPAIGNS ADDED: THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE PURPOSES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NO PART OF THE NET EARNINGS OF THE CORPORATION SHALL INURE TO THE BENEFIT OF, OR BE DISTRIBUTABLE TO ITS MEMBERS, DIRECTORS, OFFICERS OR OTHER PRIVATE PERSONS, EXCEPT THAT THE CORPORATION SHALL BE AUTHORIZED AND EMPOWERED TO PAY REASONABLE COMPENSATION FOR SERVICES RENDERED AND TO MAKE PAYMENTS AND DISTRIBUTIONS IN FURTHERANCE OF THE PURPOSES SET FORTH IN THE PURPOSE CLAUSE HEREOF. NO SUBSTANTIAL PART OF THE ACTIVITIES OF THE CORPORATION SHALL BE THE CARRYING ON OF PROPAGANDA, OR OTHERWISE ATTEMPTING TO INFLUENCE LEGISLATION, AND THE ORGANIZATION SHALL NOT PARTICIPATE IN, OR INTERVENE IN (INCLUDING THE PUBLISHING OR DISTRIBUTION OF STATEMENT) ANY POLITICAL CAMPAIGN ON BEHALF OF ANY CANDIDATE FOR PUBLIC OFFICE. NOTWITHSTANDING ANY OTHER PROVISION OF THIS DOCUMENT, THE CORPORATION SHALL NOT CARRY ON ANY OTHER ACTIVITIES NOT PERMITTED TO BE CARRIED ON (A) BY AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE, OR (B) BY AN ORGANIZATION, CONTRIBUTIONS TO WHICH ARE DEDUCTIBLE UNDER SECTION 170(C)(2) OF THE INTERNAL REVENUE CODE, OR CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.
AMENDED AND RESTATED BYLAWS FORM 990, PART VI, LINE 4 ARTICLE IX, MISCELLANEOUS, 9.10, ELECTRONIC COMMUNICATIONS ADDED: A DIRECTOR OR COMMITTEE MEMBER MAY PARTICIPATE IN A MEETING BY ANY MEANS OF COMMUNICATION THROUGH WHICH SUCH PERSON, OTHER PERSONS SO PARTICIPATING, AND ALL PERSONS PHYSICALLY PRESENT AT THE MEETING MAY SIMULTANEOUSLY HEAR EACH OTHER DURING THE MEETING. PARTICIPATION IN A MEETING BY THIS MEANS CONSTITUTES PRESENCE IN PERSON AT THE MEETING. A CONFERENCE CALL AMONG DIRECTORS OR COMMITTEE MEMBERS BY ANY MEANS OF COMMUNICATION THROUGH WHICH SUCH PERSONS MAY SIMULTANEOUSLY HEAR EACH OTHER DURING THE CONFERENCE IS A MEETING OF THE BOARD OF DIRECTORS OR COMMITTEE, AS THE CASE MAY BE, IF THE SAME NOTICE IS GIVEN OF THE CONFERENCE CALL AS WOULD BE REQUIRED FOR A MEETING, AND IF THE NUMBER OF PERSONS PARTICIPATING IN THE CONFERENCE WOULD BE SUFFICIENT TO CONSTITUTE A QUORUM AT A MEETING. PARTICIPATION IN A MEETING BY THAT MEANS CONSTITUTES PRESENCE IN PERSON AT THE MEETING.
CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 20,638. PRIOR PERIOD ADJUSTMENTS: 138,685.
  FORM 990, PART XI, LINE 2C THE ORGANIZATIONS FINANCE & INVESTMENT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF ANNUAL FINANCIAL REVIEW AND TAX REPORTING SERVICES BY AN INDEPENDENT ACCOUNTANT. THE COMMITTEE MAKES AN ANNUAL RECOMMENDATION TO A QUORUM OF THE FULL BOARD FOR APPROVAL OF BOTH THE SELECTION OF AN INDEPENDENT ACCOUNTANT AND THE REVIEW.
  FORM 990, PART VI, LINE 14 THE ORGANIZATION ADOPTED A WRITTEN RECORDS POLICY ON APRIL 6, 2011. THE POLICY ADDRESSES THE CREATION, COLLECTION, RETENTION, STORAGE, AND DISPOSAL OF RECORDS.
  SCHEDULE M, LINE 31: THE ORGANIZATION IS UPDATING ITS WRITTEN GIFT ACCEPTANCE POLICY BASED ON LAND TRUST ALLIANCE STANDARDS AND PRACTICES. CURRENTLY ALL CONSERVATION EASEMENT GIFTS ARE REVIEWED AND EVALUATED ACCORDING TO THE ORGANIZATIONS WRITTEN POLICY FOR ACCEPTANCE OF DONATED CONSERVATION EASEMENTS AND VOTED ON BY A QUORUM OF THE GOVERNING BOARD. THE UPDATED GIFT ACCEPTANCE POLICY WILL BE ADOPTED BY THE BOARD IN 2011.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

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