Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
LINDEN TRUST FOR CONSERVATION
 
Number and street (or P.O. box number if mail is not delivered to street address)156 WEST 56TH STREET 1100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY100193879
A Employer identification number

13-3748063
B Telephone number (see instructions)

(212) 991-3730
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$19,852,346J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 724,792
2 Check right arrow.............
3 Interest on savings and temporary cash investments 4,964 4,964 4,964
4 Dividends and interest from securities... 459,674 475,692 475,692
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -235,590
b Gross sales price for all assets on line 6a 8,650,113
7 Capital gain net income (from Part IV, line 2)... 15,397
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
69,672 2,652 67,641
12 Total. Add lines 1 through 11........ 1,023,512 498,705 548,297
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 613,100 30,655 30,655 582,445
14 Other employee salaries and wages...... 354,811 6,540 25,129 329,682
15 Pension plans, employee benefits....... 255,010 7,122 12,407 242,603
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
47,000 0 0 45,500
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
901,828 104,005 134,278 450,050
17 Interest............... 26,113 26,113 26,113 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
6,020 406 406 10,000
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 332,985 12,292 19,207 317,482
21 Travel, conferences, and meetings....... 60,183 0 3,439 56,744
22 Printing and publications.......... 20,772 0 0 31,125
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
33,711 14,150 14,638 34,628
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,651,533 201,283 266,272 2,100,259
25 Contributions, gifts, grants paid....... 1,421,000 1,558,500
26 Total expenses and disbursements. Add lines 24 and 25 4,072,533 201,283 266,272 3,658,759
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,049,021
b Net investment income (if negative, enter -0-) 297,422
c Adjusted net income (if negative, enter -0-)... 282,025
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 239,659 777,232 777,232
2 Savings and temporary cash investments......... 216,070 207,053 207,053
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable................. 1,500,000 825,000 825,000
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 12,299 25,578 25,578
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,100,683 Click to see attachment
List of Attached Documents:
// Content
874,123 		874,123
c Investments—corporate bonds (attach schedule)....... 0 Click to see attachment
List of Attached Documents:
// Content
3,128,069 		3,128,069
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 16,303,126 Click to see attachment
List of Attached Documents:
// Content
13,732,598 		13,732,598
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
227,214 		Click to see attachment
List of Attached Documents:
// Content
282,693 		Click to see attachment
List of Attached Documents:
// Content
282,693
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 19,599,051 19,852,346 19,852,346
Liabilities 17 Accounts payable and accrued expenses.......... 60,125 376,463
18 Grants payable................. 737,500 600,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
234,613 		Click to see attachment
List of Attached Documents:
// Content
294,383
23 Total liabilities (add lines 17 through 22)......... 1,032,238 1,270,846
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 14,791,253 18,169,625
25 Net assets with donor restrictions............ 3,775,560 411,875
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 18,566,813 18,581,500
30 Total liabilities and net assets/fund balances (see instructions). 19,599,051 19,852,346
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
18,566,813
2
Enter amount from Part I, line 27a .....................
2
-3,049,021
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
3,106,908
4
Add lines 1, 2, and 3 ..........................
4
18,624,700
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
43,200
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
18,581,500
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES (SHORT-TERM)      
b PUBLICLY TRADED SECURITIES (LONG-TERM)      
c VENTYX BIOSCIENCES, INC. CMN (VTYX) 15.000 SHARES D 2023-07-12 2023-07-12
d VENTYX BIOSCIENCES, INC. CMN (VTYX) 546.000 SHARES D 2023-07-12 2023-07-12
e VENTYX BIOSCIENCES, INC. CMN (VTYX) 55.000 SHARES D 2023-07-12 2023-07-12
VENTYX BIOSCIENCES, INC. CMN (VTYX) 366.000 SHARES D 2017-04-18 2023-10-12
VENTYX BIOSCIENCES, INC. CMN (VTYX) 101.000 SHARES D 2020-02-26 2023-10-12
VENTYX BIOSCIENCES, INC. CMN (VTYX) 253.000 SHARES D 2020-03-13 2023-10-12
VENTYX BIOSCIENCES, INC. CMN (VTYX) 720.000 SHARES D 2020-02-26 2023-10-12
DYNAMIC EQUITY MANAGERS: PORTFOLIO 4 [SERIES] CLASS 1 P   2023-03-31
THRU SCHEDULE K-1'S (SHORT-TERM) P    
THRU SCHEDULE K-1'S (LONG-TERM) P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,847,658   1,901,463 -53,805
b 6,124,931   6,335,311 -210,380
c 545   81 464
d 19,848   784 19,064
e 1,999   79 1,920
7,081   1,986 5,095
1,954   145 1,809
4,894   1,244 3,650
13,929   1,034 12,895
627,274   599,137 28,137
      24,494
      182,054
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -53,805
b       -210,380
c       464
d       19,064
e       1,920
      5,095
      1,809
      3,650
      12,895
      28,137
      24,494
      182,054
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 15,397
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -29,311
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 4,134
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 4,134
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,134
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 7,682
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 10,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 17,682
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 13,548
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow13,548 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowNY
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
Yes
 
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowIGOR GOLDENBERG Telephone no.right arrow (212) 991-3730

Located atright arrow156 WEST 56TH STREET 1100NEW YORKNY ZIP+4right arrow100193879
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
LAWRENCE H LINDEN TRUSTEE
40.00 		0 0 0
156 WEST 56TH ST SUITE 1100
NEW YORK,NY100193879
DANA WECHSLER LINDEN TRUSTEE
1.00 		0 0 0
156 WEST 56TH ST SUITE 1100
NEW YORK,NY100193879
ROGER T ULLMAN EXECUTIVE DIRECTOR
40.00 		613,100 95,101 0
156 WEST 56TH ST SUITE 1100
NEW YORK,NY100193879
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
ANNA C GIORGI PROGRAM ASSOCIATE
40.00 		185,000 45,648 0
156 WEST 56TH STREET SUITE 1100
NEW YORK,NY100193879
IGOR GOLDENBERG DIRECTOR OF FINANCE
24.00 		130,800 18,469 0
156 WEST 56TH STREET SUITE 1100
NEW YORK,NY100193879
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
RHODIUM GROUP LLC PROGRAM RELATED CONSULTANTS 275,333
5 COLUMBUS CIRCLE SUITE 1801
NEW YORK,NY100191471
SPITFIRE STRATEGIES PROGRAM RELATED CONSULTANTS 214,999
2300 N STREET NW SUITE 610
WASHINGTON,DC200371122
ERNST & YOUNG LLP PROGRAM RELATED CONSULTANTS 117,500
1 MANHATTAN W 6TH FLOOR
NEW YORK,NY100018604
GOLDMAN SACHS & CO LLC INVESTMENT MANAGEMENT AND ADVISORY 103,717
200 WEST STREET
NEW YORK,NY102822102
CASSIDY & ASSOCIATES INC PROGRAM RELATED CONSULTANTS 64,500
607 14TH STREET SUITE 400
WASHINGTON,DC200052073
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 CLIMATE POLICY INITIATIVES: SEEKS TO (1) ENCOURAGE THE ADOPTION OF AN ECONOMY-WIDE, MARKET-BASED SOLUTION TO ADDRESS THE CHALLENGE OF CLIMATE CHANGE AND ADVANCE A CLEAN-ENERGY ECONOMY, AND (2) GAIN THE INCLUSION OF CARBON DIOXIDE REMOVAL, ONE OF THE MAJOR NECESSARY COMPONENTS OF A GLOBAL CLIMATE SOLUTION, IN U.S. CLIMATE POLICY. 1,872,226
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
16,988,657
b
Average of monthly cash balances.......................
1b
1,107,043
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
18,095,700
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
18,095,700
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
271,436
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
17,824,264
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
891,213
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
 
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
 
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
3,658,759
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,658,759
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7  
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$  
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount.....  
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2023.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		 
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
2015-03-20
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
282,025 228,661 374,514 292,573 1,177,773
b 85% (0.85) of line 2a ......... 239,721 194,362 318,337 248,687 1,001,107
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		3,658,759 4,344,146 6,388,665 6,682,787 21,074,357
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		1,776,533 2,389,711 4,318,161 4,424,442 12,908,847
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		1,882,226 1,954,435 2,070,504 2,258,345 8,165,510
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......         0
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		         0
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		594,142 648,974 564,871 487,039 2,295,026
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		        0
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		        0
(3) Largest amount of support
from an exempt organization		         0
(4) Gross investment income         0
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
LAWRENCE H LINDEN
DANA WECHSLER LINDEN
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

BIPARTISAN POLICY CENTER INC

1225 EYE STREET NW SUITE 1000
WASHINGTON,DC200053914 		N/A PC CARBON DIOXIDE REMOVAL 100,000

CARBON 180

1111 BROADWAY 3RD FLOOR
OAKLAND,CA946074139 		N/A PC CARBON DIOXIDE REMOVAL 150,000

CLEAN AIR TASK FORCE

114 STATE STREET 6TH FLOOR
BOSTON,MA021092421 		N/A PC CDR - ZERO CARBON GOAL 100,000

COLUMBIA UNIVERSITY - CEES

630 WEST 168TH STREET BOX 49
NEW YORK,NY100323702 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 25,000

ENERGY FUTURES INITIATIVE INC

900 17TH STREET NW SUITE 1100
WASHINGTON,DC200062592 		N/A PC CDR ANALYSIS AND EDUCATION 150,000

GREAT PLAINS INSTITUTE FOR SUSTAINABLE DEVELOPMENT

2801 21ST AVENUE S SUITE 220
MINNEAPOLIS,MN554071229 		N/A PC CARBON DIOXIDE REMOVAL 187,500

LEAGUE OF CONSERVATION VOTERS EDUCATION FUND

740 15TH STREET NW SUITE 700
WASHINGTON,DC200051052 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 50,000

MALIASILI INITIATIVES INC

4 CARMICHAEL STREET SUITE 111-193
ESSEX JUNCTION,VT054523182 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 5,000

NATIONAL WILDLIFE FEDERATION

11100 WILDLIFE CENTER DRIVE
RESTON,VA201905362 		N/A PC ADVANCING CDR 100,000

NEW YORK LEAGUE OF CONSERVATION VOTERS EDUCATION FUND INC

30 BROAD STREET SUITE 30
NEW YORK,NY100042909 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 5,000

OPEN SPACE INSTITUTE

1370 BROADWAY 5TH FLOOR
NEW YORK,NY100180983 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 10,000

OURENERGYPOLICY

529 14TH STREET NW SUITE 1150
WASHINGTON,DC200452121 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 1,000

RESOURCES FOR THE FUTURE

1616 P STREET NW SUITE 600
WASHINGTON,DC200361400 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 25,000

RESOURCES FOR THE FUTURE

1616 P STREET NW SUITE 600
WASHINGTON,DC200361400 		N/A PC CARBON PRICING MODEL 100,000

ROCKEFELLER FAMILY FUND INC

475 RIVERSIDE DRIVE SUITE 900
NEW YORK,NY101150066 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 25,000

TRUSTEES OF PRINCETON UNIVERSITY

701 CARNEGIE CENTER SUITE 445
PRINCETON,NJ085406242 		N/A PC DAC DEPLOYMENT 50,000

WORLD RESOURCES INSTITUTE

10 G STREET NE SUITE 800
WASHINGTON,DC200024252 		N/A PC CARBON REMOVAL ALLIANCE 150,000

WORLD RESOURCES INSTITUTE

10 G STREET NE SUITE 800
WASHINGTON,DC200024252 		N/A PC CARBON DIOXIDE REMOVAL 150,000

WORLD WILDLIFE FUND

1250 24TH STREET NW
WASHINGTON,DC200371124 		N/A PC UNRESTRICTED GENERAL INSTITUTIONAL SUPPORT 100,000

WORLD WILDLIFE FUND

1250 24TH STREET NW
WASHINGTON,DC200371124 		N/A PC LOVEJOY PRIZE 75,000
Total .................................right arrow 3a 1,558,500
bApproved for future payment

BIPARTISAN POLICY CENTER
1225 EYE STREET NW SUITE 1000
WASHINGTON,DC200053914 		N/A PC CARBON DIOXIDE REMOVAL 100,000

CARBON 180
1111 BROADWAY 3RD FLOOR
OAKLAND,CA946074139 		N/A PC CARBON DIOXIDE REMOVAL 150,000

CENTER ON GLOBAL ENERGY POLICY - CGEP
1255 AMSTERDAM AVENUE
NEW YORK,NY100275927 		N/A PC GENERAL SUPPORT 100,000

RESOURCES FOR THE FUTURE
1616 P STREET NW SUITE 600
WASHINGTON,DC200361400 		N/A PC CARBON PRICING MODEL 50,000

TRUSTEES OF PRINCETON UNIVERSITY
701 CARNEGIE CENTER SUITE 445
PRINCETON,NJ085406242 		N/A PC DAC DEPLOYMENT 50,000

WORLD RESOURCES INSTITUTE
10 G STREET NE SUITE 800
WASHINGTON,DC200024252 		N/A PC CARBON DIOXIDE REMOVAL 150,000
Total ................................. right arrow 3b 600,000
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 4,964  
4 Dividends and interest from securities ....     14 459,674  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 2,652  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -235,590  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aORGANIZATION ADMINISTRATIVE INCOME 		        64,989
bMISCELLANEOUS INCOME     01 2,031  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 233,731 64,989
13Total. Add line 12, columns (b), (d), and (e)..................
13
298,720
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
11B LINDEN TRUST FOR CONSERVATION (THE "TRUST") HAS ENTERED INTO A SHARED SERVICES AGREEMENT WITH LTC ACTION, INC. (THE ORGANIZATION"), AN IRS RECOGNIZED ORGANIZATION DESCRIBED UNDER IRS CODE SECTION 501(C)(4), GOVERNING THE ALLOCATED COSTS OF THE ORGANIZATION'S USE OF THE TRUST'S PAID STAFF AND FACILITIES. DURING THE YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION REIMBURSED THE TRUST $31,546 OF SHARED SERVICE AGREEMENT FEES AND $33,443 OF REIMBURSED EXPENSES.
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
Yes
 
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
Yes
 
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
1b(4) 33,443 LTC ACTION INC LINDEN TRUST FOR CONSERVATION (THE "TRUST") HAS ENTERED INTO A SHARED SERVICES AGREEMENT WITH LTC ACTION, INC. (THE ORGANIZATION"), AN IRS RECOGNIZED ORGANIZATION DESCRIBED UNDER IRS CODE SECTION 501(C)(4), GOVERNING THE ALLOCATED COSTS OF THE ORGANIZATION'S USE OF THE TRUST'S PAID STAFF AND FACILITIES. DURING THE YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION REIMBURSED THE TRUST $33,443 FOR SHARED COSTS.
1c 31,546 LTC ACTION INC LINDEN TRUST FOR CONSERVATION (THE "TRUST") HAS ENTERED INTO A SHARED SERVICES AGREEMENT WITH LTC ACTION, INC. (THE ORGANIZATION"), AN IRS RECOGNIZED ORGANIZATION DESCRIBED UNDER IRS CODE SECTION 501(C)(4), GOVERNING THE ALLOCATED COSTS OF THE ORGANIZATION'S USE OF THE TRUST'S PAID STAFF AND FACILITIES. DURING THE YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION PAID THE TRUST $31,546 FOR SHARING FACILITIES, EQUIPMENT AND PAID EMPLOYEES.
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
LTC ACTION INC 501(C)(4) LINDEN TRUST FOR CONSERVATION (THE "TRUST") HAS ENTERED INTO A SHARED SERVICES AGREEMENT WITH LTC ACTION, INC. (THE ORGANIZATION") GOVERNING THE ALLOCATION OF COSTS AND REIMBURSEMENT OF EXPENSES FROM THE ORGANIZATION FOR THE USE OF THE TRUST'S COMPENSATED STAFF, EQUIPMENT AND FACILITIES. THE ORGANIZATION'S BOARD PRESIDENT ALSO SERVES AS A COMPENSATED OFFICER OF THE TRUST, AND THEREFORE COMMON CONTROL IS PRESENT.
Sign Here
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 taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
LINDEN TRUST FOR CONSERVATION
 
Employer identification number

13-3748063
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 isn't covered by the General Rule and/or the Special Rules doesn't 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 on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't 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) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
LINDEN TRUST FOR CONSERVATION
  		Employer identification number
13-3748063
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
LAWRENCE H LINDEN AND DANA W LINDEN
156 WEST 56TH STREET
 
NEW YORK, NY100193879

$ 49,792


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
ALEXANDER FOUNDATION INC
 
C/O RUANE CUNNIFF GOLDFARB 9 WEST 5
 
NEW YORK, NY100192701

$ 175,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
GRANTHAM FOUNDATION FOR THE PROTECTION OF THE ENVIRONMENT
 
40 ROWES WHARF
 
BOSTON, MA021103340

$ 175,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
4
RED CRANE FOUNDATION
 
PO BOX 73
 
NEW YORK, NY102740073

$ 175,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
5
CARLA AND DAVID CRANE FOUNDATION
 
121 STEUART STREET
 
SAN FRANCISCO, CA941051236

$ 150,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
LINDEN TRUST FOR CONSERVATION
  		Employer identification number

13-3748063
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 VENTYX BIOSCIENCES, INC. CMN (VTYX) 616.000 SHARES $ 21,726 2023-07-12
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 VENTYX BIOSCIENCES, INC. CMN (VTYX) 1,440.000 SHARES $ 28,066 2023-10-12
(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) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
LINDEN TRUST FOR CONSERVATION
  		Employer identification number

13-3748063
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. 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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(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) (2023)
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TY 2023 AccountingFeesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FINANCIAL STATEMENT AUDIT AND TAX RETURN PREPARATION 47,000 0 0 45,500

TY 2023 InvestmentsCorpBondsSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Name of Bond End of Year Book Value End of Year Fair Market Value
AIR LEASE CORP 1.875% 08/15/2026 52,000.000 SHARES 47,850 47,850
ALEXANDRIA REAL ESTATE EQUITIE 3.375% 08/15/2031 38,000.000 SHARES 34,300 34,300
AMERICAN ELECTRIC POWER COMPAN 5.95% 11/01/2032 48,000.000 SHARES 51,338 51,338
AMERICAN TOWER CORP 5.65% 03/15/2033 27,000.000 SHARES 28,106 28,106
AMERIPRISE FINANCIAL, INC. 5.15% 05/15/2033 47,000.000 SHARES 48,535 48,535
AMGEN INC. 5.25% 03/02/2030 51,000.000 SHARES 52,498 52,498
ANHEUSER-BUSCH INBEV FIN 4.7% 02/01/2036 28,000.000 SHARES 28,017 28,017
AON CORP/AON GLOBAL HOLD 5.35% 02/28/2033 16,000.000 SHARES 16,442 16,442
AUTONATION INC 4.75% 06/01/2030 36,000.000 SHARES 34,785 34,785
AUTOZONE INC 4.0% 04/15/2030 46,000.000 SHARES 44,249 44,249
B.A.T. CAPITAL CORPORATION 3.557% 08/15/2027 49,000.000 SHARES 46,791 46,791
BANK OF AMERICA CORPORATION HYBRID MTN 03/05/2029 63,000.000 SHARES 60,194 60,194
BANK OF NOVA SCOTIA (THE) 1.05% 03/02/2026 67,000.000 SHARES 61,728 61,728
BAXTER INTERNATIONAL INC 1.915% 52,000.000 SHARES 47,653 47,653
BERRY GLOBAL INC 1.57% 01/15/2026 38,000.000 SHARES 35,312 35,312
BROADCOM INC. 4.15% 11/15/2030 36,000.000 SHARES 34,436 34,436
BUNGE LIMITED FINANCE CORP. 2.75% 05/14/2031 53,000.000 SHARES 46,221 46,221
CAPITAL ONE FINANCIAL CORPORAT HYBRID 07/29/2032 69,000.000 SHARES 52,342 52,342
CIGNA CORPORATION 4.5% 02/25/2026 52,000.000 SHARES 51,641 51,641
CITIGROUP INC. HYBRID 06/09/2027 58,000.000 SHARES 53,100 53,100
CITIZENS FINANCIAL GROUP 3.25% 04/30/2030 51,000.000 SHARES 44,848 44,848
CONSTELLATION BRANDS, INC. 4.9% 05/01/2033 18,000.000 SHARES 18,141 18,141
CROWN CASTLE INTERNATIONAL COR 3.7% 06/15/2026 31,0000.000 SHARES 29,928 29,928
CROWN CASTLE INTL CORP 2.9% 03/15/2027 16,000.000 SHARES 14,967 14,967
CVS HEALTH CORPORATION 4.3% 03/25/2028 46,000.000 SHARES 45,273 45,273
DELL INTERNATIONAL L.L.C. 5.25% 02/01/2028 40,000.000 SHARES 41,022 41,022
DISCOVER FINANCIAL SERVICES 4.5% 01/30/2026 23,000.000 SHARES 22,710 22,710
DOLLAR GENERAL CORPORATION 4.125% 05/01/2028 16,000.000 SHARES 15,681 15,681
DOMINION ENERGY INC 3.375% 04/01/2030 25,000.000 SHARES 23,049 23,049
DOW CHEMICAL CO/THE 4.25% 10/01/2034 21,000.000 SHARES 20,140 20,140
DUKE ENERGY CORPORATION 4.3% 03/15/2028 61,000.000 SHARES 60,196 60,196
EBAY INC. 1.4% 05/10/2026 57,000.000 SHARES 52,790 52,790
ENABLE MIDSTREAM PARTNERS, LP 4.95% 34,000.000 SHARES 33,863 33,863
FIFTH THIRD BANCORP HYBRID 07/28/2030 53,000.000 SHARES 51,837 51,837
FISERV INC 3.2% 07/01/2026 27,000.000 SHARES 25,999 25,999
FISERV INC 5.6% 03/02/2033 16,000.000 SHARES 16,706 16,706
FORTIVE CORPORATION 3.15% 06/15/2026 28,000.000 SHARES 26,810 26,810
FOX CORPORATION 4.709% 01/25/2029 47,000.000 SHARES 46,766 46,766
GENERAL MOTORS COMPANY 5.4% 10/15/2029 19,000.000 SHARES 19,354 19,354
GENERAL MOTORS COMPANY 5.6% 10/15/2032 16,000.000 SHARES 16,393 16,393
GLOBAL PAYMENTS INC 5.3% 08/15/2029 35,000.000 SHARES 35,260 35,260
HUMANA INC. 3.7% 03/23/2029 49,000.000 SHARES 47,124 47,124
HUNTINGTON BANCSHARES INCORPOR HYBRID 08/04/2028 41,000.000 SHARES 39,772 39,772
INTEL CORPORATION 4.875% 02/10/2026 60,000.000 SHARES 60,466 60,466
INTERCONTINENTAL EXCHANGE, INC 3.75% 12/01/2025, 52,000.000 SHARES 51,130 51,130
JPMORGAN CHASE & CO. HYBRID 04/22/2027 31,000.000 SHARES 28,616 28,616
JPMORGAN CHASE & CO. HYBRID 04/23/2029 34,000.000 SHARES 32,743 32,743
KEURIG DR PEPPER INC. 3.2% 05/01/2030 28,000.000 SHARES 25,779 25,779
KEURIG DR PEPPER INC. 3.95% 04/15/2029 22,000.000 SHARES 21,469 21,469
KINDER MORGAN ENERGY PRTNRS LP 5.8% 03/15/2035 37,0000.000 SHARES 37,792 37,792
KROGER CO/THE 3.5% 02/01/2026 47,000.000 SHARES 45,789 45,789
M&T BANK CORPORATION HYBRID 08/16/2028 13,000.000 SHARES 12,507 12,507
MCCORMICK & CO 0.9% 02/15/2026 23,000.000 SHARES 21,181 21,181
MCKESSON CORPORATION 5.1% 07/15/2033 31,000.000 SHARES 31,919 31,919
MORGAN STANLEY HYBRID 12/10/2026 67,000.000 SHARES 61,660 61,660
MPLX LP 1.75% 03/01/2026 50,000.000 SHARES 46,793 46,793
NEXTERA ENERGY CAPITAL HOLDING 4.9% 02/28/2028 48,000.000 SHARES 48,452 48,452
NXP BV/NXP FDG/NXP USA 4.3% 06/18/2029 49,000.000 SHARES 47,655 47,655
ORACLE CORPORATION 4.65% 05/06/2030 36,000.000 SHARES 35,912 35,912
PHILIP MORRIS INTERNATIONAL IN 4.875% 02/13/2026 44,000.000 SHARES 44,168 44,168
PNC FINANCIAL SERVICES GROUP, HYBRID 01/26/2027 51,000.000 SHARES 50,620 50,620
REALTY INCOME CORPORATION 4.85% 03/15/2030 31,000.000 SHARES 31,173 31,173
REALTY INCOME CORPORATION 5.625% 10/13/2032 16,000.000 SHARES 16,860 16,860
ROYAL BANK OF CANADA MTN 6.0% 11/01/2027 41,000.000 SHARES 42,984 42,984
ROYALTY PHARMA PLC 2.2% 09/02/2030 31,000.000 SHARES 26,119 26,119
SABINE PASS LIQUEFACTION, LLC 5.0% 03/15/2027 45,000.000 SHARES 45,212 45,212
SHERWIN-WILLIAMS CO 2.95% 08/15/2029 41,000.000 SHARES 37,759 37,759
SIMON PROPERTY GROUP, L.P. 3.3% 01/15/2026 53,000.000 SHARES 51,358 51,358
SYNCHRONY FINANCIAL 3.95% 12/01/2027 37,000.000 SHARES 34,602 34,602
TELEDYNE TECHNOLOGIES IN 2.75% 04/01/2031 55,000.000 SHARES 47,934 47,934
THE WILLIAMS COMPANIES, INC. 3.9% 01/15/2025 15,000.000 SHARES 14,761 14,761
THE WILLIAMS COMPANIES, INC. 4.0% 09/15/2025 19,000.000 SHARES 18,652 18,652
TORONTO-DOMINION BANK (THE) HYBRID 09/15/2031 16,000.000 SHARES 15,356 15,356
TORONTO-DOMINION BANK (THE) MTN 1.2% 06/03/2026 51,000.000 SHARES 46,839 46,839
TRANSCANADA PIPELINES LIMITED 4.25% 05/15/2028 16,000.000 SHARES 15,588 15,588
TRUIST FINANCIAL CORPORATION HYBRID MTN 06/07/2029 60,000.000 SHARES 51,899 51,899
UDR INC 3.0% 08/15/2031 24,000.000 SHARES 21,248 21,248
US BANCORP HYBRID 02/01/2029 61,000.000 SHARES 60,090 60,090
VERIZON COMMUNICATIONS, INC. 4.016% 12/03/2029 40,000.000 SHARES 38,721 38,721
VODAFONE GROUP PUBLIC LIMITED 4.125% 05/30/2025 46,0000.000 SHARES 45,386 45,386
WELLS FARGO & COMPANY HYBRID MTN 06/17/2027 64,000.000 SHARES 61,180 61,180
WESTPAC BANKING CORP HYBRID 07/24/2034 62,000.000 SHARES 56,737 56,737
WYETH LLC 6.0% 02/15/2036 17,000.000 SHARES 18,793 18,793

TY 2023 InvestmentsCorpStockSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Name of Stock End of Year Book Value End of Year Fair Market Value
ACCENTURE PLC CMN CLASS A (ACN) 75.000 SHARES 26,318 26,318
ADOBE INC CMN (ADBE) 75.000 SHARES 44,745 44,745
ALPHABET INC. CMN CLASS A (GOOGL) 529.000 SHARES 73,896 73,896
AMAZON.COM INC CMN (AMZN) 524.000 SHARES 79,617 79,617
ARISTA NETWORKS, INC. CMN (ANET) 177.000 SHARES 41,685 41,685
ASML HOLDING N.V. ADR CMN (ASML) 37.000 SHARES 28,006 28,006
AUTODESK, INC. CMN (ADSK) 103.000 SHARES 25,078 25,078
AUTOMATIC DATA PROCESSING INC CMB (ADP) 103.000 SHARES 23,996 23,996
BOSTON SCIENTIFIC CORP. COMMON STOCK (BSX) 492.000 SHARES 28,443 28,443
CHARLES SCHWAB CORPORATION CMN (SCHW) 369.000 SHARES 25,387 25,387
CHIPOTLE MEXICAN GRILL, INC. CMN (CMG) 10.000 SHARES 22,869 22,869
ENTEGRIS, INC. CMN (ENTG) 80.000 SHARES 9,586 9,586
EPAM SYSTEMS, INC. CMN (EPAM) 79.000 SHARES 23,490 23,490
FISERV, INC. CMN (FI) 198.000 SHARES 26,302 26,302
FORTINET, INC. CMN (FTNT) 194.000 SHARES 11,355 11,355
INTUIT INC CMN (INTU) 82.000 SHARES 51,252 51,252
LINDE PLC CMN (LIN) 42.000 SHARES 17,250 17,250
MASTERCARD INCORPORATED CMN CLASS A (MA) 61.000 SHARES 26,017 26,017
MICROSOFT CORPORATION CMN (MSFT) 291.000 SHARES 109,428 109,428
MONSTER BEVERAGE CORPORATION CMN (MNST) 337.000 SHARES 19,415 19,415
NEUROCRINE BIOSCIENCES, INC. CMN (NBIX) 190.000 SHARES 25,034 25,034
NVIDIA CORPORATION CMN (NVDA) 147.000 SHARES 72,797 72,797
O'REILLY AUTOMOTIVE, INC. CMN (ORLY) 6.000 SHARES 5,700 5,700
PAYCOM SOFTWARE, INC. CMN (PAYC) 26.000 SHARES 5,375 5,375
THERMO FISHER SCIENTIFIC INC CMN (TMO) 31.000 SHARES 16,455 16,455
VISA INC. CMN CLASS A (V) 133.000 SHARES 34,627 34,627

TY 2023 InvestmentsOtherSchedule2
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
DYNAMIC EQUITY MANAGERS: PORTFOLIO 2 [SERIES] FMV 1,222,595 1,222,595
EDGEWATER GROWTH CAPITAL PARTNERS II, L.P. FMV 122,384 122,384
EDGEWATER GROWTH CAPITAL PARTNERS, L.P. FMV 124,942 124,942
GLOBAL DISTRESSED OPPORTUNITIES CAYMAN UNIT TRUST FMV 26,933 26,933
GOLDMAN SACHS HIGH YIELD FUND CL P (GGMPX) 163,210.334 SHARES FMV 915,610 915,610
GOLDMAN SACHS INTERNATIONAL EQUITY INSIGHTS CL P (GGFPX) 65,825.109 SHARES FMV 910,361 910,361
GOLDMAN SACHS SHORT DURATION INCOME FUND CL P (GMCPX) 43,837.034 SHARES FMV 421,274 421,274
SPDR S&P 500 ETF TRUST (SPY) 19,638.000 SHARES FMV 9,334,138 9,334,138
XTRACKERS MSCI EAFE HEDGED EQUITY ETF (DBEF) 17,695.000 SHARES FMV 654,361 654,361

TY 2023 OtherAssetsSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ACCRUED INVESTMENT INCOME 36,560 71,765 71,765
RIGHT OF USE ASSETS - OPERATING LEASES, NET 190,654 210,928 210,928


TY 2023 OtherDecreasesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Description Amount
DEFERRED FEDERAL EXCISE TAX PROVISION 43,200


TY 2023 OtherExpensesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INSURANCE 11,508 0 0 11,508
OFFICE FURNISHING 3,585 0 0 3,585
EQUIPMENT RENTAL 3,450 0 71 3,379
OFFICE AND OTHER EXPENSES 15,168 0 417 16,156
OTHER INCOME (LOSS) THRU SCHEDULE K-1'S 0 87 87 0
OTHER DEDUCTIONS THRU SCHEDULE K-1'S 0 14,063 14,063 0


TY 2023 OtherIncomeSchedule2
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INVESTMENT INCOME 2,652 2,652 2,652
ORGANIZATION ADMINISTRATIVE INCOME 64,989   64,989
MISCELLANEOUS INCOME 2,031   0


TY 2023 OtherIncreasesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Description Amount
UNREALIZED APPRECIATION OF INVESTMENTS 3,106,908


TY 2023 OtherLiabilitiesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Description Beginning of Year - Book Value End of Year - Book Value
DEFERRED FEDERAL EXCISE TAX 31,500 74,700
LEASE LIABILITY 203,113 219,683


TY 2023 OtherProfessionalFeesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INFORMATION TECHNOLOGY CONSULTANT 18,205 0 273 17,932
INVESTMENT MANAGEMENT AND ADVISORY 104,005 104,005 104,005 0
PROGRAM RELATED CONSULTANTS 754,297 0 30,000 406,797
STAFFING AND RECRUITING SERVICES 25,321 0 0 25,321


TY 2023 TaxesSchedule
Name:
LINDEN TRUST FOR CONSERVATION
EIN:
13-3748063
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 5,817 0 0 10,000
FOREIGN TAXES WITHHELD 203 203 203 0
FOREIGN TAXES WITHHELD THRU SCHEDULE K-1'S 0 203 203 0