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The Trustees of Reservations Conserving the Massachusetts Landscape 1992 Annual Report The Trustees of Reservations Conserving the Massachusetts Landscape 572 Essex Street Beverly, Massachusetts 01915-1530 Telephone (508) 921-1944 JL he Trustees of Reservations (TTOR) is the world's oldest land trust. Founded in 1891 by Boston landscape architect Charles Eliot, it is dedicated to preserving for public use and enjoy- ment properties of exceptional scenic, historic and ecological value throughout the Commonwealth. Today, The Trustees of Reservations owns and manages 73 properties, totaling more than 18,000 acres, all open to the public. Through its Land Conservation Center, TTOR continues to save open land across the state. The Trustees of Reservations is a private, non- profit organization with over 10,000 members. It relies for support entirely upon membership dues, voluntary contributions, admission fees, grants and endowments. Frederic Winthrop, Jr. Cover: Agassiz Rock, Manchester Photograph by Edxvard P. Monnelly Dear Friends and Trustees: re off! Our second century has begun — reservations, will be to provide public access in a and with a flourish. The seeds we sowed in '91 manner that protects the environmental qualities are yielding a bumper harvest in '92. The Centen- we seek to preserve. nial Year was a good one for telling our story. No better example of this challenge can be While still not a household word, TTOR is now cited than the difficulty TTOR and the Edgartown known to those who care most about saving the Board of Selectmen had in arriving at an agree- best of the Massachusetts landscape. And what a ment on the reconstruction of the long-closed lot of kindred spirits there are out there! Dyke Bridge on Chappaquiddick. It took many People are joining! Membership is up 24 months of hard negotiation to arrive at a settle- percent from a year ago. People are giving! A ment which will control oversand vehicle (OSV) record $1.3 million was contributed to last year's access to Cape Poge Wildlife Refuge during the membership drive and annual appeal. And, nesting season of the endangered piping plover. another $3.2 million was added to the ongoing TTOR wants the public to use and enjoy its capital campaign, bringing TTOR to within $2.8 properties but without doing damage to fragile million of our $10 million goal at this writing. natural resources. Thank you all for what you are doing. In general, public visitation was way up on all The result of this magnificent generosity is our reservations last year. To be sure, this was a clear. TTOR is thriving. Your dollars have function of good summer weather — hurricanes allowed us to assemble a team of dedicated and notwithstanding. But it is also a tribute to the hard-working professionals, inspired and sup- superb job our field staff does in managing and ported by the most talented and enthusiastic maintaining the properties. To an increasing volunteers a non-profit could hope for. Together degree, it is due also to the many compelling we are getting the job done. events (this year there will be over 100!) that are Recognizing the great need for conservation put on by TTOR. In addition to canoe trips, action throughout Massachusetts, TTOR has nature walks, house tours, and outdoor concerts, established the Land Conservation Center to this summer we have organized a collaborative reach out to land owners and cooperating land effort with the Boys and Girls Clubs of Boston trusts, communities and state agencies, with a and Boston's Museum of Science to bring inner program of technical assistance, strategic partner- city youth to the Crane Memorial Reservation. ships, encouragement, and education wherever The State Street Foundation has generously they will strengthen conservation efforts. funded this pilot program. Mountaintops, stream banks, waterfalls, barrier Many of these events are educational in beaches, farm fields, historic houses and formal nature. All of them are fun. That our volunteers gardens — these are the special landscapes of and staff put so much effort into them underlines Massachusetts. We want to help preserve the best our conviction that the best way to make people of them. into conservationists, and eventually into sup- Through the hard work of the Land Conser- porters of TTOR, is to get them onto the proper- vation Center staff, field staff, and volunteers, ties and let these special places speak for them- 1,001 additional acres were protected last year, selves. Our reservations continue to be our most bringing our total owned or under conservation eloquent spokesmen. I hope each of you, as restriction to 25,868 acres. Our newest jewel is members and Trustees, will have occasion to destined to be among the brightest: The Coolidge enjoy one or more of them this year. As our Reservation, the core 22 acres of which were founder Charles Eliot said 100 years ago — acquired in our 100th year, in time will comprise come and "refresh the spirit." 52 acres of dramatic seascape, rocky ledge, tidal pond, and sweeping ocean lawn. It is, above all, a magnificent legacy of the generosity and public- spiritedness of the Coolidge family. Planning for the official opening is now underway. The Frederic Winthrop, Jr. greatest management challenge, as at all our Director Financial Report Fiscal Year 1992 April 1, 1991 - March 31, 1992 centennial year produced superb financial capital spending reserve, a $71,000 transfer to the results. The figures on the opposite page for the endowment funds called for by our spending fiscal year ended March 31, 1992, show increases policy and the creation of a significant reserve over the prior year in all categories of revenue, fund that will be available to support the current and on the expense side reflect impressive cost year's operations. control. These results are testimony to the The fixed income and equity markets contin- dedicated and effective work of the professional ued to record solid gains. These, combined with staff and the contributions in time and money of significant contributions and additions, increased an equally dedicated volunteer force. the value of endowment assets as shown on the Crane Beach, an important revenue source, next page. Note the dramatic increase in these had a strong summer thanks to good weather and funds from the beginning balance as of March 31, efficient management, and the season at Castle 1990. Hill was very successful. We note in particular In the financial summary and the pie charts the fine volunteer and staff work that has resulted below we have broken out the expenses on a in excellent budget control for this important functional basis. As you can see, field operations property. In addition, centennial events like the — our main mission — represent the lion's share. Discovery Days introduced new people to TTOR, and the results are reflected in increased reserva- Respectfully submitted, tion receipts and membership revenue. It is important to note that the net of $14,000 Peter C. Thompson was achieved after a substantial addition to the Treasurer Summary of 1992 Revenues Summary of 1992 Expenses Land Conservation Contributions 2 Financial Highlights Operating Fund Results (In Thousands of Dollars) FY 1992 FY 1991 Income: Reservation Receipts/Events... $2040 $1848 Investment Income 1636 1519 Contributions 1071 843 Membership Dues 518 441 TOTAL INCOME $5265 $4651 Expenses: Field Operations $3995 $3603 General and Admin 534 474 Development 330 332 Land Conservation Ctr 268 190 Public Information 124 142 TOTAL EXPENSES $5251 $4741 Net Increase/Decrease for Year 14 -90 Endowment Market Value in Thousands of Dollars FY 1992 FY 1991 TTOR Budd Total TTOR Budd Total Trusts Trusts Beginning Balance $19100 $8583 $27683 $14341 $7834 $22175 Contributions 1745 0 1745 2942 0 2942 Appreciation (Realized, Unrealized) 1360 544 1904 1316 749 2065 Other Additions 484 0 484 501 0 501 Total for March 31 $22689 $9127 $31816 $19100 $8583 $27683 Note: Complete copies of the audited financial statements are available on request. 3 Property Management Report Highlights April 1, 1991 - March 31, 1992 ihe winds of change blew strongly through all (and increased fencing), it was a very successful five TTOR regions last year, both literally and breeding season for piping plovers and least metaphorically. When Hurricane Bob devastated terns. When the birds returned in 1992, however, the Massachusetts coast in August 1991, TTOR they found a significantly changed shoreline, as staff from all regions responded, applying im- the Halloween storm had flattened large dunes, pressive forestry skills to restore safe public ac- destroyed vegetation, and wiped out protective cess to our Martha's Vineyard and Southeast fencing. Region reservations in record time. Elsewhere in the Northeast Region, staff were Two months later, an unnamed storm swept changing the landscape with continued clearing at out of the Northeast on Halloween to alter radi- the Stavros Reservation, Old Town Hill and the cally the shoreline at the Crane properties and on Ward Reservation, offering new vistas to Nantucket. The trick was to mobilize crews to visitors. replace snow fencing and rebuild boardwalks and dunes. The treat was the storm's creation of vast <v> Southeast Region areas of favorable habitat for endangered shore- In the Southeast Region, change meant shifting birds to enjoy the following spring. personnel. Steve Bassett's resignation as Superin- At other properties, new restoration efforts tendent in the Charles River Valley unit was fol- addressed the more gradual impacts of time and lowed by Mark Bailey's promotion and the hiring conditions. Several of the historic houses have of John Gilbert. Emo DeWitt and Ronan Moore undertaken major research and planning efforts to guided the Bradley Reservation's gradual opening make clearer, more accurate presentations to the to TTOR members and the public, and Mary public.

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