Open Space Institute

Home , Law of New York (state), Mount Adams (New York)

2007 Annual Report Where We Work

Finch Pruyn Swap Lands

T Finch Pruyn Loan S E MAINE R Vermont O F Germain R N Mollidgewock Ritson E Brook Loan T H R O N

New York Colonial Acres Golf Course VERMONT

Masssacs husetts Robertson Farm NEW H HAMPSHIRE u

Egerton Loan s

Arcadia Properties R Ostuni . Hodge Shin Creek MASSACHUSETTS Davenport Farm NEW YORK Misner Farm Rochester Reformed Church

Wallkill Rod & Gun Club Khosla Farm H Jewett Farm u Connnecticcut d CONNECTICUT Pastyik s Hodgson Farm o n RHODE

R ISLAND Pennsylvania . Cardinale Arden House

New JeJ rses y NEW JERSEY

PENNSYLVANIA

MA RY L A N D DELAWARE

WEST VIRGINIA

S N A VIRGINIA I KENTUCKY H C A L A P P A

N R TENNESSEE Powdermill Creek Loan E Open Space Institute H NORTH CAROLINA T 2007 Projects U O S Priority Landscapes

Acquisitions/Easements SOUTH CAROLINA Loans/Grants ALABAMA

GEORGIA

Fort Stewart Loan What We Do

Since 1964, the Open Space Institute (OSI) has protected scenic, natural, and historic landscapes to ensure public enjoyment, conserve habitats, and sustain community character. Rooted in the Hudson River Valley, OSI now protects landscapes from the Northern Forest in Maine to the Highlands of Georgia. OSI achieves its goals through our New York Land, Conservation Finance, and Conservation Research Programs, utilizing a broad spectrum of tools and techniques, including direct land acquisition, conservation easements, regional loan and grant programs, creative partnerships, and analytical research on conservation issues. The results are impressive: OSI has helped protect 1.7 million acres across the eastern United States, creating recreational parklands, supporting working forests and farms, protecting natural ecosystem resources like pure drinking water, and preserving historic sites for current and future generations. Your support enables us to put together the conservation pieces that make the whole.

LAND FINANCE RESEARCH

By partnering with state and local The Conservation Finance Program Integrating lessons from decades of land governments, land trusts of all sizes, and (CFP) seeks to accelerate the rate and conservation experience, the individual landowners, the New York effectiveness of conservation by Conservation Research Program was Land Program has preserved more providing low-cost bridge loans and launched in 2006 to bring practical than 100,000 acres in New York State grants for land transactions in selected solutions to land protection challenges through direct land acquisition and landscapes in the eastern United States. in the 21st century. Guided by staff with conservation easements. In 2007, OSI The program works primarily with small expertise in finance, planning, and acquired 4,772 acres and conveyed an and mid-sized land trusts to protect natural resource management, this additional 1,097 acres, mostly to public diverse landscapes that include parks program works in partnership with entities, including protection of more and preserves as well as working farms conservation practitioners, funders, and than 700 farmland acres in the Rondout and forests. OSI is also helping support policymakers to conduct, synthesize, and Wallkill Valleys (page 7). In the the protection of lands identified in state and disseminate research on efficient Hudson Highlands, we purchased the wildlife action plans as critical to rare ways to balance thoughtful regulation historic Arden House, and in the and endangered species. Currently, the and permanent protection. The program Catskills, we protected more than 3,000 CFP is focused on the Northern Forest, complements our on-the-ground land acres of land, continuing 25 years of western Massachusetts, the Hudson preservation, conducting rigorous conservation work in the Beaverkill River Valley, New Jersey, and the research and analysis so that we can be Valley (page 5). In the Adirondacks, the Southern Appalachians. Since its more strategic about enacting effective Land and Finance Programs joined inception in 2000, the CFP has made conservation. The program expanded in forces to help The Nature Conservancy more than 50 loans and grants for more 2007, producing a report on purchase Finch, Pruyn lands (page 13), than $60 million to protect 1.6 million conservation easements and and our restoration work at Tahawus is acres valued at nearly $450 million. In biodiversity in the Northern Forest (page keeping a piece of American history 2007, the CFP made six loans of $28.7 19), providing objective testimony to alive (page 9). Focusing on the Hudson million in total. Highlights include: help inform the zoning decision on Plum River Valley region, the Catskills, and providing financing that protected Creek’s proposed development in the Adirondacks, OSI accomplishes Finch, Pruyn lands (page 13) in the Maine (page 20), and training land much of its protection work through the Adirondacks, 5,000 acres in New conservation practitioners across the Open Space Conservancy (OSC), the Hampshire (page 15), a farm in western country (page 21). Research projects land acquisition affiliate of OSI that is Massachusetts, and habitat in the currently underway include an analysis funded by a generous endowment from Southern Appalachians. In 2007, OSI of natural wealth indicators in the the founders of Readers Digest, Lila also created a new grant fund in Catskills and a municipal survey in Acheson and DeWitt Wallace. Georgia. Sullivan County, New York, to assess how best to improve land use planning in the rapidly developing area.

1 any years ago, I watched as the beautiful farm near where I Mgrew up was broken apart by subdivision. The land had become worth more for housing than for farming, a situation that is still true today. When it happened, we were paralyzed by the complexity of the changes going on around us and didn’t challenge the demise of the farm, thinking the farmer had no other options. We’ve learned a lot since then. Creating organizations that approach land conservation on a landscape level has been the key to effective protection of open spaces. For the past 35 years, I have proudly served on the Open Space Institute board and watched it evolve from a grassroots group into a multifaceted force for land protection. OSI made great conservation strides in 2007, expanding its use of loans and grants and translating experience and know-how into the best of permanent conservation. OSI improves its strategies for smart conservation year after year, creating parks where people can connect to the land, securing conservation easements that protect farms and forests forever, and promoting planning that properly balances land protection and development. Solving complex conservation issues can be demanding. It requires listening to many voices, considering varying viewpoints, and inviting adversaries to the table. Doing so makes conservation more challenging, but also makes it better for communities, and it preserves more land in the long run. Smart conservation helps us move beyond simply reacting to individual threats to the land. How we decide to use our land, a finite resource, reflects our values and hopes for the future. By acting now, we are helping to ensure that important landscapes are protected for generations to come. Thank you for joining me in supporting the Open Space Institute, an organization that is meeting today’s conservation challenges with new ideas, focus, and energy.

John Adams Chairman

2 Dear Friends,

n the course of a typical eight-hour workday, nearly 1,500 acres of Iprimary forest and cropland will be lost to development in our country, according to the U.S. Department of Agriculture. It would seem logical to look at our bank accounts and our watches, and figure out what we can save with what we’ve got, reducing land conservation to its most elemental form. Even with the combined conservation resources of the public and private sector, landscape-scale protection cannot succeed without new approaches. OSI has responded to this challenge by diversifying its operations to include more creative collaborations, more innovative financing models, and more research into cutting-edge conservation issues. OSI is making smart conservation happen. The highlight of 2007 was undoubtedly the monumental purchase of 161,000 acres of Finch, Pruyn lands in the Adirondacks, which The Nature Conservancy was able to acquire with the help of a $25 million loan from OSI. The Finch, Pruyn transaction enhanced OSI’s earlier purchase of the adjacent 10,000-acre Tahawus tract from NL Industries in 2003. Together, these actions protect some of the loveliest and most environmentally significant lands in the Adirondack Park. Advancing historic preservation, we completed the stabilization of two important historic sites on the Tahawus property in 2007. Farther down the Hudson River Valley, capping a 20-year effort in the Beaverkill Valley, we added more than 3,000 acres to the mosaic of preserved lands by acquiring fee and conservation easements and providing conservation loans. In Orange County, we protected the historic Arden House and are well on our way to protecting 3,500 acres of farmland along the flanks of the Shawangunks in the Rondout and Wallkill Valleys. OSI has not been content to simply protect land, project by project. Our Conservation Research Program is taking the lessons we have learned and making them accessible to others through papers and presentations. Last year, OSI staff testified before Maine’s land-use commission and the Committee on Environmental Protection in New York, presented the latest findings from a planning survey in the Catskills, and led capacity-building workshops for small land trusts from around the country on how to make sense of their finances. These are all examples of OSI’s multifaceted conservation efforts. As former Governor Pataki recently said, “The fact that people around the nation are copying what OSI is doing shows that their record is extraordinary.”

Kim Elliman Joe Martens CEO President

3 A river links a complex Catskill community Ties That Bind Twenty-five years of protection inLAND the Beaverkill Valley

Newe York I-87I 887 CatsCat killkilk Park

Ostuni Arcadia Properties KingK stonstoon

Hodge Shin Creek H eathers from a wood and farms. In 2007, we protected 3,212 u

duck, a rooster’s hackle, a s acres at a cost of roughly $7 million in

stripped peacock quill, and the Beaverkill. Since 1981, OSI has R

patience are all required . protected nearly 18,000 acres in the to tie a trout fly in the I-84-848484 upper valley through a combination of Ffamous Catskill style. In skillful lvaanianiia direct fee acquisition and conservation hands, the eclectic materials are easements. transformed into a beautiful object OSI often works in partnership with that is irresistible to both brookie New York State’s Department of and human. Environmental Conservation to add precious acreage to the In much the same way, diverse interests combine to Catskill Forest Preserve and with New York City’s form the community of the Catskills’ Beaverkill Valley, Department of Environmental Protection to safeguard the linked by the eponymous river that runs through it, where water supply, both approaches providing public benefit. Be the art of American fly fishing was born. For some, the it for historical or ecological integrity, OSI protects some land is a recreational Eden for hiking, hunting, and fishing. parcels through conservation easements on private For others, it is part of a watershed that serves as a source ownerships as well. Here the cost to OSI is the greatest, of clean drinking water. For many, it’s simply home – a but the conservation is no less a priority as we continue to place to work, live, and raise their families. No matter what protect a place as beautiful and complex as the intricate their primary relationship to the Beaverkill, all who reside flies – fragile elements held together with careful knots – in the region are similarly being affected by increased that attract the renowned trout from its grand old waters. flooding, outdated zoning regulations, and unchecked development. (opposite) Fishing the East Branch of the Beaverkill River, Catskills, NY; For more than two decades, OSI has been in this region, (below) View of the Beaverkill Valley, Catskills; (above) Map of 2007 working with a community that values its forests, rivers, projects in the Beaverkill Valley

Cultivating Conservation A Ridge and LANDTwo Valleys Campaign

CatsCat killkili ParkPark

t was love at first sight. When KKingstonsto Conservation Plan, which lists both the Davenport Farm s OSI’s general counsel, Bob k Misner Farm Wallkill and the Rondout Valleys as priority n u Anderberg, first set foot in the g Khosla Farm landscapes for protection, is enacted with n a Jewett Farm Shawangunk Mountains nearly w the best possible provisions. a C h Hodgson Farm 40 years ago, he recognized that S Pastyik Recognizing our 25 years of conservation it was an extraordinary place. He was H work in the region, Wallkill Valley Land u

I d drawn as much to the gleaming white cliffs s Trust honored OSI with the 2007 o

n that offered challenging rock climbing as President’s Award in late summer. And on a R to the views he was afforded once he’d . beautiful autumn morning, OSI held a press reached the top: rivers meandering through Neweww Jerser y event with partners Scenic Hudson and rolling farmland as far as the eye could see. Ulster County at the Paul Farm to celebrate Bob and OSI’s New York Land Program the permanent protection of three team can now stand upon protected Sam’s Point, the highest spot in multigenerational farms – the Paul, Davenport, and Misner farms – the Shawangunk Ridge, and read the landscape like a history in the Rondout Valley. Altogether, OSI protected more than 700 textbook on conservation. But like all history, the past shows us the acres of productive agricultural land in the two valleys in 2007, work that still needs to be done in the future. bringing the total farmland preservation in the area to 2,200 acres. OSI has worked tirelessly in this part of the Hudson River Valley Late fall brought news that OSI had received three more purchase- for decades, protecting 25,000 acres along the Shawangunk Ridge of-development-rights (PDR) grants from the New York State and thousands of fertile farmland acres in the Wallkill and Rondout Department of Agriculture and Markets’ Farmland Protection Valleys that produce food for both rural and urban markets. These Program, furthering our work for 2008. historic valleys are among America’s most productive yet most The tens of thousands of productive yet unprotected farmland endangered agricultural lands. OSI’s Ridge and Two Valleys acres in the two valleys afford OSI the opportunity to make a Campaign is a comprehensive land protection effort that recognizes significant impact on a landscape-level scale, from valley to ridge to the many parts that make up the whole of the Hudson River Valley. valley again. The OSI campaign aims to protect more than 3,000 “Because of rising land prices, encroaching development, and acres at a cost of more than $7 million, drawing on the relationships economic hardships facing local farmers, a successful Two Valleys we’ve built with the local community over a quarter of a century. program must use every tool available going forward,” says Jennifer We are turning to private and public support to match our Grossman, vice president of the New York Land Program. “It’s the commitment to farmland protection in the Rondout and Wallkill only way to safeguard a local source of fresh and healthful food and Valleys. The very nature of the region depends on it. keep these valued rural communities intact.” Three towns in the region – New Paltz, Marbletown, and Gardiner – have recently passed bond acts, bringing $5.5 million in conservation funding to the region. OSI is helping to establish the (opposite) The farms in these historic valleys safeguard local food sources – process and criteria for use of these funds while working with the and a way of life. (above) Map of 2007 projects in the Rondout and state to ensure that the 2006 New York State Open Space Wallkill Valleys

7 The historic preservation work at Tahawus has involved many working partners. OSI gratefully acknowledges:

Adirondack Architectural Heritage Adirondack Ecological Center Adirondack Park Agency Adirondack Rock and River Guide Service Argus Architecture Preservation, P.C. Jameson General Contractors Mercer Construction Company NYS Council on the Arts New York State Department of Environmental Conservation New York State Museum New York State Office of Parks, Recreation and Historic Preservation State University of New York, College of Environmental Science and Forestry The Town of Newcomb Timeless Tahawus Preserving a presidential pastLAND in the Adirondacks

he story of the land Tahawus An important moment in our known as Tahawus is a nation’s history took place at Tahawus Adirdirondackc Parkk story of discovery and in 1901, when Vice President Teddy speculation, of Roosevelt stayed at MacNaughton aspirations and failed Cottage in the village of Adirondac, a Tdreams, and – now – of permanent V small mining town that dated back to land protection and historic the 1830s. It was during his stay that preservation. OSI purchased more Roosevelt learned that President than 10,000 acres, located in the town McKinley had been shot by an assassin of Newcomb in Essex County, through in Buffalo. The vice president hastened

OSI’s affiliate the Open Space NewN w Yoorkrk away by horse and carriage for a long Conservancy from NL Industries in trip through the darkness to North 2003. The land is the southern Creek, where a train was awaiting him gateway to the High Peaks Wilderness Area and includes the – along with the news that McKinley had died. Roosevelt’s headwaters of the mighty Hudson River. The property is also destiny as the next president was sealed. steeped in history, and OSI is helping to protect and But Tahawus’s mining days weren’t over: National Lead interpret the site’s historic treasures while making its Company (NL’s predecessor) began mining for titanium recreational resources available to the public. dioxide in 1941. Meanwhile, the historic structures in In addition to its breathtaking landscape of mountains, Adirondac, including MacNaughton Cottage and the nearby rivers, forests, and lakes, Tahawus is also a rich lode of blast furnace, lapsed into disrepair. In 1976, Tahawus was titanium and iron ore. Since 1826, when an Abenaki Indian recognized for its historical significance when an 800-acre led prospectors to the minerals for the requested price of a area of the site was added to the State and Federal Registers “dollar, half and ’bacco,” men hungry for fortune have come of Historic Places. with high hopes. OSI, recognizing the importance of the area, has taken But the first mining era of Tahawus brought only active steps to arrest the deterioration of the three major disappointment for the early speculators. They built a town historic structures on the Tahawus property: MacNaughton and blast furnaces, but the railroad they needed to connect Cottage, the 1854 blast furnace, and the abandoned fire their remote Adirondack operation to the markets they tower at the top of Mount Adams, the property’s highest depended on wouldn’t arrive until nearly a century later, in peak. OSI commissioned the New York State Museum to 1943. A flood in 1856 followed by the national financial crisis conduct an archaeological reconnaissance survey of the of 1857 tipped the scales, and the next year, they abandoned Upper Works area, which was completed in November 2004. the endeavor. In 2007, MacNaughton Cottage was stabilized and saved A new era began in 1876, when settlers first recognized from ruin, and the first phase of restoration work was the value of Tahawus’s intact landscape, rather than just its completed on the blast furnace. (continued on next page) timber and mineral resources, by leasing the land to sports- men of the Preston Ponds Club, who hunted moose, wolf, (opposite) Hudson River Meadows, Adirondacks, NY; (top) Village marten, and bear. Even today, this part of the Adirondacks is of Adirondac; (next page) Mount Adams fire tower, Tahawus, home to rare and endangered animals and birds. Adirondacks, NY

9 Timeless Tahawus (continued) Name Acres County

And thanks to the staff of the New Dockside 26 acres Putnam York State Department of Environmental Conservation (DEC), Koff 42 acres Putnam restoration of the Mount Adams fire tower is nearly complete. Arden House 447 acres Orange Early in 2008, DEC purchased 6,813 acres of the Tahawus property, Hodgson Farm 51 acres Orange permanently protecting the land and Beaverkill Valley 4 acres Sullivan ensuring it will remain a mecca for Barn Museum hikers, paddlers, and cross-country Shin Creek Farm 530 acres Sullivan skiers for generations to come. Another 2,900 acres, protected by a Hodge I 136 acres Sullivan conservation easement that allows Amthor 98 acres Sullivan sustainable forestry, has been acquired by The Nature Conservancy; Robertson Farm 388 acres Delaware New York State will shortly acquire that easement. OSI continues to own Weld, Marshall 252 acres Delaware some recreational and historic sites Ostuni 77 acres Delaware at Tahawus, including one and a half Hodge II 301 acres Sullivan, Delaware acres around a remote log cabin on Upper Preston Pond, a 210-acre Arcadia 2,262 acres Ulster, Sullivan, historic core area that includes the Delaware village of Adirondac and the blast Armstrong 393 acres Otsego furnace, and 46 acres around Masten Jewett Farm 104 acres Ulster House, which was used by NL as a corporate retreat and will now, Khosla Farm 77 acres Ulster thanks to OSI, become available to Pastyik 95 acres Ulster SUNY College of Environmental Science and Forestry for its Northern Davenport Farm 327 acres Ulster Forest Institute. Read more at www.osiny.org Misner Farm 54 acres Ulster

Rochester Reformed 108 acres Ulster Church

Wallkill Rod & Gun Club 10 acres Ulster Buono 10 acres Columbia

Thomas 181 acres Albany

Colonial Acres Golf 31 acres Albany Course Ritson 33 acres Saratoga Germain 48 acres Saratoga

Finch, Pruyn swap 2,032 acres Essex

TOTAL 8,117 acres New York Land Program

Description Focus

Donation to New York State in honor of Governor George Pataki’s Hudson Highlands conservation legacy Sale to New York State Office of Parks, Recreation and Historic Hudson Highlands Preservation Purchase of historical Arden House Hudson Highlands Purchase of conservation easement Wallkill Valley farmland protection Leased from Clear Lake Corp. to restore historic Catskills barn and Beaverkill Valley, Catskills relocate historic one-room schoolhouse. Purchase of conservation easement Beaverkill Valley, Catskills Purchase of conservation easement Beaverkill Valley, Catskills Sold in multiple transactions to the Department of Environmental Watershed protection, Catskills, Protection and private purchasers New York City Purchase Catskills farmland protection Donated conservation easement Beaverkill Valley, Catskills Purchase of conservation easement Beaverkill Valley, Catskills Purchase of conservation easement Beaverkill Valley, Catskills Purchase of 47 parcels Beaverkill Valley, Catskills

Sale to Plainfield State Forest New York State parkland Purchase of conservation easement with Wallkill Valley Land Trust Wallkill Valley farmland protection Purchase of conservation easement with Wallkill Valley Land Trust Wallkill Valley farmland protection Donation of conservation easement Wallkill Valley farmland protection Purchase of agricultural easement with New York State Department Rondout Valley farmland protection of Agriculture and Markets and Scenic Hudson Purchase of agricultural easement with New York State Department Rondout Valley farmland protection of Agriculture and Markets and Scenic Hudson Purchase for Minnewaska State Park addition Shawangunk Ridge Greenway

Purchase for Minnewaska State Park addition Shawangunk Ridge Greenway Sale with agricultural easement to community-supported Kinderhook Creek farmland protection agriculture (CSA) farm Sale to New York State Office of Parks, Recreation and Historic Helderberg Escarpment Preservation for John Boyd Thacher State Park addition Purchase for public recreation Capital District

Purchase of conservation easement with Saratoga PLAN Capital District Purchase of 18 acres and conservation easement on Capital District additional 30 acres of Revolutionary War site Exchange of 2,032 acres from Finch, Pruyn & Co. for 2,979 acres Adirondacks protected with conservation easements.

11 161,000 acres in the Adirondacks: 90 mountain peaks 70 lakes and ponds 48 miles of Hudson River frontage 95 animal species 37 rare animal species 91 bird species As a lifelong resident of Keene Valley, I am “thrilled by this wonderful accomplishment! “A hearty Thank you so very, congratulations from very much for all you a rope-weary, but have done (and happy, alpinist continue to do) to whose sights today protect this could only keep me incomparable thinking high paradise!” thoughts of our — Henrietta Buschman Jordan, Keene Valley, NY hard, but ever so important work. I was delighted to see the OSI-TNC collaboration. Way to go.”

— Dan Plumley, Director of Park Protection of the Adirondacks

“What an accomplishment, an acquisition for the ages.” — Fred LeBrun, Times Union

An Acquisition for the Ages

t was the single largest and making major additions to the financing deal ever Adirondack Forest Preserve. The undertaken by OSI. The working forests will continue to $25 million loan to The provide fiber to the Glens Falls mill, Nature Conservancy which employs 850 people. Through I(TNC) helped our frequent partnerships, collaboration, and partner purchase 161,000 acres smart conservation in action, this in the heart of the Adirondacks stunning landscape of mountain – lands owned by Finch, Pruyn & peaks, extensive forests, roaring Co. for more than a century and virtually rivers, crystal-clear lakes, and inaccessible to the public since 1865. As timber ancient bogs is on its way to permanent protection. companies throughout the Northern Forest The acquisition of the Finch, Pruyn lands comes continue to divest their holdings, land conservation on the heels of an unprecedented period of large, groups such as OSI and TNC are stepping in to landscape-scale protection projects throughout the ensure that large tracts of temperate forest remain Northern Forest. OSI has now helped protect 1.4 intact and continue to benefit the local economies million acres through its Northern Forest Protection they have supported for generations. Fund loans and grants. The Finch, Pruyn lands are In early 2007, Finch, Pruyn quietly began important because they virtually surround the marketing the property, most of which lies within southern part of OSI’s Tahawus tract, and their the Adirondack Park, in a package deal with its acquisition ensures protection of the southern paper mill in Glens Falls. Quickly assembling a gateway to the High Peaks Wilderness Area, the partnership with Atlas Holdings LLC and calling on largest wilderness area in the eastern United States. financing help from OSI, TNC took title to the “The protection of the Finch, Pruyn lands is 161,000 acres for $110 million. OSI, with its unique landscape-scale conservation at its best,” said OSI combination of deep resources and ability to act president Joe Martens. “TNC’s quick action to promptly, provided nearly a quarter of the funds in acquire the property, coupled with a disposition the form of a low-interest loan. Atlas, through Finch process that involved affected local communities, Holdings LLC, took title to the mill and entered into a will ensure that all of the conservation and 20-year timber supply agreement with TNC. economic benefits of these spectacular lands will be Now TNC and OSI are working with state and realized. OSI is proud to have played a supporting local governments and others to ensure the long- role.” term protection of this property. The plan includes keeping portions of the acreage in active forestry (opposite) Paddlers on Boreas Pond; (above) Sunrise on Boreas Pond; through working forest conservation easements (overleaf) Map of TNC/Finch Pruyn land parcels, Adirondacks, NY community forest secures access and rights to the Aforest resource at the community level; it promotes community participation in management decisions; it ensures that communities receive value and benefits from the land that can support and reinforce community priorities and economic development objectives; and it secures permanent protection of the conservation values of the forestland. — From the Community Forest Collaborative Capital Creating Connections FINANCE

CANADA

he Mollidgewock Brook Mollidgewock for waterfowl, birds, and aquatic parcel, bordering the species, so there’s a strong biological Umbagog National reason to bring it into protected Wildlife Refuge and the MAINE ownership.”

Errol Town Forest in VERMONT Will Staats couldn’t agree more. As TNew Hampshire, was a missing piece in the regional wildlife biologist for the the expanding network of protected NNEWW New Hampshire Fish and Game H HAMHA PSHHIRE ud lands in the Northern Forest. With a so Department for 16 years, he has n R $1.45 million loan from OSI, The Trust . worked with representatives of the for Public Land (TPL) was able to many entities that have owned the purchase the land and add an MASSACHUSETTS woods outside Errol, including some important piece to the protected timber companies that have hit the mosaic. In the process, they enlarged a land hard. But Staats has complete community forest that supports a struggling economy, faith in the parcel’s recovery, especially the regeneration of enhanced wildlife protection by connecting critical habitats, the softwood spruce and fir forests that once dominated the expanded public access to prime recreation land, and landscape. “The trees will grow back,” he says, “but not if provided an opportunity for restoration forestry. This deal there are houses there instead.” represented the best of our Northern Forest conservation Connecting these large blocks of land to recover lost work that has been underway for nearly a decade. forest habitat helps species of feather, fin, and foot: black- A complicated multiphase project with many partners, backed woodpeckers and American woodcock, brook trout the Mollidgewock deal protects more than 5,000 acres in in pristine streams, the mammals that seek shelter under total: about 2,000 acres that will become part of the 13 Mile the softwood canopy during long, harsh winters. “This is a Woods Association and the Town of Errol’s community chance for the refuge to bring back the historical forest, and 3,000 acres being added to the Lake Umbagog biodiversity of this area,” said Horn. National Wildlife Refuge. TPL sought OSI’s help to purchase It’s a chance to help human communities as well. the land and take it off the market while it worked through Although community forests have been around for hundreds the details of transferring the land to its new owners. “This of years, they have recently attracted renewed interest with is why the OSI loan is so critical,” explains J.T. Horn, TPL the ongoing, large-scale selling of industrial timberland. In project manager. “We needed the money while we were in the vacuum created by the departing timber interests, more this holding period; otherwise the property would’ve slipped and more communities, with the help of land trusts, are away.” taking back their land, literally. And this property was too crucial a hinge – connecting “Most of the people up here in Errol are very supportive,” the Lake Umbagog National Wildlife Refuge with the Errol said Bill Freedman, Errol’s town selectman and vice Town Forest – to let it succumb to the development that is president of the 13 Mile Woods Association. “It makes us the biggest threat to the changing region. happy that 13 Mile Woods is in local hands. We want to keep “If Mollidgewock were carved up and developed, you’d (continued on next page) never be able to reestablish the link between these two important areas,” said Horn. “Mollidgewock Brook is critical (opposite)Two views of Lake Umbagog National Wildlife Refuge, Errol,NH

15 Name Acres Region Loan Recipient

Finch, Pruyn & Co. 161,000 acres New York, The Nature Conservancy Adirondacks, Northern Forest

Mollidgewock Brook 5,137 acres New Hampshire, The Trust for Public Land Northern Forest

Powdermill Creek 434 acres North Carolina, Southern Southern Appalachians Appalachians Highlands Conservancy

Cardinale 256 acres New York NY/NJ Trail Conference

Egerton Farm 68 acres Western Sheffield Land Trust Massachusetts

Fort Stewart 201 acres Georgia Georgia Land Trust

TOTAL 167,626 acres

Connections (continued) it the way it’s been since Christopher an important tributary to the Androscoggin Columbus stepped foot in the New World.” River, providing opportunities for endless Will Staats has seen what can happen if recreation – fishing, floating, paddling, land trusts don’t step in. “Entrepreneurs horseback riding, skiing and more. would’ve gotten this land for second-home “Like filling in the pieces of a puzzle,” development,” he said. “People are just a cellphone call away added Howell, “Mollidgewock shows the power of small from work, so they can go anywhere. There’s the illusion that movements to aggregate over time.” we’re safe in the North and that this problem is only in the In May 2008, the project received a literal stamp of South, but that’s far from true.” approval. The U.S. Postal Service released a new 72-cent OSI loans allow partners to act quickly when land becomes stamp showing the sun setting over the Androscoggin River available. “It’s a dynamite project,” said Horn. “We wouldn’t at 13 Mile Woods, Errol, New Hampshire – immortalizing the have been able to manage the holding costs without the loan successful protection of a not-so-small piece of the fragile from OSI.” fabric that is the great Northern Forest. “All our hopes for the Northern Forest were realized Read more at www.osiny.org. through this deal,” said Peter Howell, OSI’s executive vice president of the Conservation Finance Program. “For close to (above) International U.S. postage stamp features a sunrise on the a decade, OSI has been working in this spectacular region Androscoggin River, 13 Mile Woods; (opposite) Androscoggin River, 13 that is a mecca for its natural beauty.” Mollidgewock Brook is Mile Woods community forest, Errol, NH

16 Conservation Finance Program

Description Loan Amount Total Project Funds

Epic land conservation deal in Adirondacks $25,000,000 $110,000,000 that protects 70 lakes and ponds, 90 mountains, and 48 miles of Hudson River frontage

Loan helps purchase key recreational and $1,450,000 $1,650,000 wildlife corridor, which includes nine miles of frontage on Androscoggin River adjacent to Lake Umbagog National Wildlife Refuge and Town of Errol community forest

Loan helps purchase pristine lands near $1,000,000 $2,737,350 Appalachian Trail in Highlands of Roan designated as high conservation priority under State Wildlife Action Plan

Land connects Minnewaska State Park to $460,200 $1,500,000 Appalachian Trail along Shawangunk Ridge

Loan helps purchase conservation easement $90,000 $535,000 on multigenerational family farm

Loan helps purchase land adjacent to Fort $653,250 $700,000 Stewart Army base that was under development pressure from nearby Savannah and is important habitat for red- cockaded woodpecker

$28,653,450 in loans to protect lands worth $117,122,350

17 Biological surveys can help protect critical forest areas Adirondack Atlas relevant. toolconservation couldn’t bemore effectiveness ofthispowerful to change rapidly, analyzingthe ownership oftimberlandscontinuing Northern Forest Protection Fund, and protected withthehelpofOSI’s the region,morethanhalfofthat conservation easementprotection in With 3millionacresnow under heart oftheMaine North Woods. Ontario inwestern New York to the reach fromtheshoresofLake acres ofconifers andhardwoods that biodiversity acrossthe28million significant gapsintheprotection of large-scale easementsleave Society (WCS),found thatmany with theWildlife Conservation Region ForestBiodiversity intheNorthern question. Jenkins addressesthatfundamental Northern Forest? and fauna thatareendemic to the protect therich biodiversity offlora fragmentation, how well dothey preventing subdivisionand protection onalandscapescaleby forestry activities,undeniablyafford which allow someloggingandother Although working forest easements, find ahomeinthesegrand forests. tiny redeft salamander–couldn’t States, it’s hardto imaginewhatspecies–from thecharismatic lynxto the which ispartofonethelargestworking forest easementsintheUnited Standing amid300,000 acresofprotected landinDowneast Lakes,Maine, New report probes biodiversity protection in the Northern Forest Northern the in protection biodiversity probes report New Jenkins, author oftheacclaimed An OSI reportbyecologistJerry , releasedbyOSI inpartnership Conservation Easementsand Conservation , conducted an What DoConservation Easements Conserve? managers change over time. providing continuityasland of thelandiscriticalto inventory ofthebiologicalvalue points outthatabaseline additional protection. Jenkins cared for andwhy theyneed these biologicalhotspotswillbe management plan,thatexplainshow plan, distinctfrom theforest explicit biodiversity management an easementshouldrequire sensitive areas.Based onthesurvey, include biologicalsurveys to identify recommendation isthateasements focused protection. with winter shelter –needmore spruce-fir stands thatprovide species amphibians andreptiles,the the vernal poolsessentialfor nurture themaidenhairspleenwort, features –such asthelimy soilsthat relatively resilient,criticalforest their homeintheNorthern Forest are majority ofthespeciesthatmake protecting biodiversity. Although the management structuresandtools for improved bycreatingbetter that easementscouldbegreatly forestry professionals. He concludes more than60conservation and major easements,andinterviewed biodiversity managementonsix literature, analyzed biodiversity and exhaustive reviewoftheexisting With WCS,Conservation The report’s primary Adirondacks, NY; (below) spottedsalamander Pruyn landswest oftheHudson River Gorge, Mountain, Adirondacks, NY; (bottom)Finch, (opposite, top)Indian LaketoSnowy Northern ForestNorthern Region Easements andBiodiversity inthe sales bytimberinvestors. anticipates anothersurgeinland page 13) andtheNorthern Forest Finch, Pruyn&Co. isdecided (see in theAdirondacks acquiredfrom moment, asthefate of161,000 acres roundtables arecomingatadefining the Northern Forest.” Thereportand are criticalto successful protection in fine-tune theconservation tools that picture,” says Weinberg, “so we can time to step back andlookatthebig opportunities likethisafford usthe easements shouldlooklike.“Research generation ofworking forest trusts to explorewhatthenext andland ecologists, policymakers, convening roundtables withforesters, of thereportacrossregionand Weinberg iscoordinatingdistribution Research Program managerAbigail Read thefull report, , at Conservation osiny.org 19 . RESEARCH OSI Takes a Stand

Plum Creek — A Balanced Perspective Safeguarding Our Water

or nearly a decade, OSI has increasingly polarized debate between n January 30, 2007, OSI CEO played an important behind-the- Plum Creek and its opponents. Kim Elliman provided Fscenes role in northern New Whereas most groups were there to Otestimony before the England, helping distribute $26.5 testify either for or against the Committee on Environmental Protection million in grants and loans for land company’s plan, OSI participated as an in New York City, which was reviewing transactions that have protected more “interested party” and presented the the performance of the city’s than 1.4 million acres through our findings without taking either a pro or Department of Environmental Northern Forest Protection Fund. con position. Protections watershed protection Recently, we stepped from the That didn’t stop OSI from becoming program. Elliman advocated for forested shadows into a very bright the object of both sides’ barbs. Plum additional funding to continue the city’s spotlight. Creek sought, unsuccessfully, to strike land acquisition program in order to In December, Peter Howell and two OSI’s testimony about financial gain safeguard the city’s drinking water. The OSI consultants testified before but – interestingly – never city has since earmarked $300 million Maine’s Land Use Regulatory challenged its accuracy. Some over the next decade to acquire land and Commission (LURC) regarding Plum environmental advocacy groups easements in the Catskill-Delaware objected to the analysis of watershed, helping to maintain New York how much Plum Creek might City’s status as one of only five large develop absent a concept cities in the country with drinking water plan because it didn’t square of such high quality that filtering is not with their own more dire required. An excerpt of his testimony predictions, although LURC’s follows. own internal assessment was closer to OSI’s findings. OSI has long been involved in the In the end, Plum Creek “region of New York City’s watersheds, actually lauded the OSI and a decade ago we participated in the baseline analysis while some negotiations that led to the watershed of its opponents used the agreement, of which OSI is a signatory. findings about financial gain From the perspective of OSI, nothing Creek Timber Corporation’s proposed to argue for reductions in the project’s is more important to watershed large-scale development for the scope. The fact that both proponents protection than a continuation of a Moosehead Lake region. OSI had and opponents of the Plum Creek strong land acquisition and easement completed several reports comparing project utilized OSI’s research to program to ensure filtration avoidance development scenarios – how much justify their positions made it clear and the security of the water supply. land the company might develop and that OSI had achieved its goal of We endorse a long-term perspective how much money it would earn under approaching this highly charged for land conservation and acquisition its proposed rezoning compared to a subject in an evenhanded manner. funding in the watershed at $40 million baseline scenario, without rezoning. per year. OSI’s 25-year track record The goal, for both the reports and suggests how long it takes to conserve the testimony, was to inject (above) Public hearing on the Plum Creek meaningful sums of land. independent, objective analysis into an proposal for Moosehead Lake, Greenville, ME One lesson of our work is that it is

20 evolve accordingly. years ago,andthecity’seffortsshould establishment oftheprotectionplan 10 challenges thanthosefacedatthe today confrontsmoreintensethreats and believe, however, thatthewatershed recent watershedprotectionefforts.We still lowbynationalstandards. and otheragencies).These numbersare approximately 36percent,includingstate 16 percent(andoverallprotectionto 11 percentofthewatershedtomorethan taking thecity’sprotectedacreagefrom percent to6ofthewatershed, five yearscouldprotectanadditional5 commitment of$40millionperyearfor to guaranteewaterquality, the part tocontrolenoughofthewatershed Filtration Avoidance Determinationisin watershed peryear. Ifthegoalof percent oftheCatskill-Delaware 1 neighborhood of11,000acres,or DEP wouldbeprotectinginthe $40 millionoflandacquisitionperyear, the backcountry. To extrapolate:targeting $3,500-plus peracreevenforlargerlotsin exurbanites andsecond-homebuyers. and small,agrowingcadreof large-lot buyers,speculatorsbothlarge same category–bidagainstdevelopers, Environmental Protection (DEP)inthe and IwouldputtheDepartmentof Today, weinthelandtrustcommunity– virtually theonlybuyeroflargerparcels. for it.Ten yearsago,conservationwas there ismoreofamarket,buyers, Land hasbecomemorevaluablebecause getting hardertoprotectland,noteasier. The cityshouldbecommended forits We seecomparablesintherangeof ” Looking attheBottomLine Planning bytheNumbers T and appreciationfor, thebig-picture more events in2008. people. Theyarealready bookedfor Rally, reaching morethan100 Northeast Conference andNational in 2007attheLandTrust Alliance’s and presented theworkshop twice “Planning bytheNumbers” in2006 fundamental level. capacity buildingatthemost strategic financialplanning.It is explaining practical methodsfor the needsofgrowing landtrustsby a half-day seminardesigned to meet Vice PresidentPeter Howell created Director Marc Hunt andExecutive accounting andfinance,OSI Credit sometimes intimidatingwaters of smaller landtrustsnavigate the programmatic success.To help Participants gaincomfort with, Hunt andHowell developed financial strengthisvital to organizations know that he mosteffective nonprofit will.” said another, “butshould–and we hadn’t thought aboutbefore,” really highlighted somethingsthat the workshop. for hisorganization bytheendof financial sustainability reportcard of theclass,was ableto complete a participant, whoalongwiththerest financially sound,” saidone understanding whatittakes to be income statement. such asthebalancesheetand organizational financialstatements, more effectively utilize familiar efforts. Participants learnhow to outcomes intheirstrategic planning establish financialgoalsand with thetools andskillsneededto senior staff andboardmembers life casestudies,theprogram equips organizations face. Relyingonreal- financial challenges their “This was agreatcoursethat “This workshop was excellent for“This

21 RESEARCH Land Trust Seal of Approval

hether looking for fair- Nearly 1,700 land trusts across the said Joe Martens, OSI president. “And trade coffee or buying nation have protected more than 11.9 partnerships are vital to making good land FSC-certified lumber, million acres, but the groups vary widely in conservation happen.” every day we rely on their goals and practices. Accreditation will “In an era when the public is demanding third-partyW certification to guide us as we recognize land conservation organizations accountability from government and wield our power as consumers in a global that meet national quality standards for nonprofit organizations, independent land economy. Now land trusts will soon receive protecting important natural places and trust accreditation will help provide the comparable validation, thanks to a new working lands in perpetuity. The seal will assurance of quality and permanence of program operated by the Land Trust indicate that a land trust meets national land conservation the public is looking for,” Accreditation Commission, an independent standards for excellence, upholds the public explained Tammara Van Ryn, executive program of the Land Trust Alliance. In 2007, trust, and ensures the permanence of its director of the commission. As part of the the Open Space Conservancy (OSC), the conservation efforts. rigorous application process, numerous land acquisition affiliate of OSI, was selected “Putting a seal of approval on land trust letters of support from partners attested to as one of 38 land conservation organizations organizations helps other partners, be they OSC’s integrity, cited its quality legal work, from 24 states to participate in a pilot for the private landowners or governmental bodies, and lauded its excellent land protection program. Accreditation announcements will to know they’re working with land trusts priorities and the benefits they bring to the be made in the fall of 2008. with accountable standards and practices,” public.

OSI’s Citizen Action Program Keeping the Grassroots Green

SI’s Citizen Action Program OSI currently sponsors the following groups: was created to support local activist projects whose goals Abingdon Square Alliance No Time to Lose are closely aligned with OSI’s AFFIRM, Inc. Oblong Valley Association Omission. The program provides invaluable Alaska Education Project Quaker Hill Civic Association administrative services, accounting and Catskill Mountainkeeper RelightNY bookkeeping assistance, and technical Citizens’ Accord, Inc. Roaring Brook Lake Project guidance to smaller groups at their critical Citizens for a Better Canada Lake Save Our Streams start-up stage, often when they’re awaiting Concerned Citizens for Open Space, Inc. Science Partners Learning (SPLASH) IRS approval to become 501(c)(3) public Duel Hollow Conservation Association Sensible Wireless for Gardiner charities. Our sponsorship enables them to Friends of Catskill Park Stand for Land raise funds otherwise not available to them, Friends of the Housatonic Stewart Park and Reserve Coalition (SPARC) making their on-the-ground work more Germantown Neighbors Association Target Tuxedo Inc. effective. Good Growth Columbia Thomson-Clarks Mills Residents Committee In 2007, we began a major expansion Hudson Basin River Watch for Heritage Corridor Park of the Citizen Action Program to help many Lithgow Association Union Square Native Plant Display Garden more grassroots environmental projects Millbrook Matters World Ocean Observatory achieve their goals. For more information about the program, please contact Citizen Action consultant Christine Rico at 212.290.8200, ext. 305, or [email protected]. (opposite, top) Barney McHenry; (opposite, bottom) Hudson River, view from Boscobel, Garrison, NY

22 Inspiring Leadership OSI Creates McHenry Awards

In April, OSI honored trustee Barnabas McHenry with the 2007 Land Conservation Award, celebrating his 40 years protecting the landscapes, heritage, and culture of the Hudson River Valley. But why stop there? With the generous support of many donors, OSI raised a half- million dollars to create a more lasting legacy to Barney’s work. The endowment will fund the Barnabas McHenry Hudson River Valley Awards, granted annually to support pairings of young leaders and exemplary projects that make significant contributions in three focus areas – environmental conservation, historic preservation, and the arts – in the Hudson River Valley. We welcome additional donations to the endowment that is fostering the next generation of leaders in the region. Please contact Tally Blumberg at OSI to learn how you can become involved.

2007 Recipients of the Barnabas McHenry Hudson River Valley Awards

Environmental Conservation Historic Preservation Arts Matt Weiner Michael Diaz Jenny B. Reisner Mohonk Preserve Boscobel Restoration, Inc. Historic Hudson Valley

“I feel extremely fortunate to have Boscobel, located on a bluff overlooking “Jenny made important contributions to received this opportunity both to learn the Hudson River, contains one of the this institution and is unquestionably a firsthand about land protection through nation’s leading collections of furniture future leader of the Hudson Valley,” said conservation easements and to help and decorative arts from the Federal Kate Johnson, Reisner’s supervisor at conserve an area I care about deeply,” period. Diaz’s research project at Historic Hudson Valley, attesting to the said Matt, a second-year Vassar College Boscobel concerned the Loyalists of the recent Yale graduate’s productivity and student. Over the summer of 2007, Matt Hudson River Valley. He completed gift for writing. During her internship, completed an extensive project to internships at the Hudson River Valley Jenny sharpened her already-keen upgrade Mohonk Preserve’s land Institute at Marist College, from which he interest in the history of scenic easement monitoring system. “This graduated as a history major with a public appreciation and preservation while she experience has not only increased my history concentration, and has served as a catalogued and developed museum interest in environmental studies but also museum guide, assistant archivist, and program ideas based on the William and strengthened my philosophy that historical interpreter at several locations in Ruth Diebold Collection of Hudson River development and urbanization must be the valley. Diaz is a member of the history Prints, a recent gift to Historic Hudson moderated to protect our natural, cultural, honor society Phi Alpha Theta. Valley. and aesthetic landmarks,” he said. 2007 Financial Report

Source of Funds $47,046,000 Foundation Funds 7% n 2007, OSI invested $47 million in land acquisitions and loans for land protection. OSI/OSC Funds 18% OSI acquired 50 properties and 13 conservation easements in New York State totaling 10,304 acres at Ia cost of $17.9 million, including a property purchased with a non-recourse loan of $4.5 million. OSI sold 9 properties NYS ESDC Loan 52% Convertible Loan 10% and easements amounting to 3,897 acres valued at Line of Credit/PRI Funds 3% approximately $4.6 million to the State of New York, Finch, Pruyn & Co. and private conservation buyers. OSI also made Land Sales 10% capital improvements costing over $400,000 on its Land Protection Projects properties. $47,046,000 OSI made one major loan of $25 million to protect Other 1% 161,000 acres in New York State and five additional loans totaling $3.7 million to protect land in Massachusetts, New Hampshire, New York, North Carolina and Georgia. Land & Conservation Between 2006 and 2007, operating expenses increased Loans Originated 61% Easements Acquired in NYS from $5.4 million to $7 million, as OSI greatly expanded its 38% program work, particularly the stewardship and research activities. Operating revenues, at more than $7 million, matched expenses. As of December 31, 2007, OSI’s total assets were $285.6 million. Net assets totaled $242.6 million and grew by $4.8 million over the previous year. The investment portfolio was Operating Revenue worth $182.7 million: the Wallace Endowment Fund grew to $7,054,000 $172.8 million and other financial assets to $9.9 million. OSI Other 4% PRI Loan Interest 9% had loans receivable valued at $34.1 million from other nonprofits, and restricted cash balances were $12.6 million. Foundations 6% Other assets totaled $6.6 million. OSI holds $49.6 million in real estate purchased for conservation purposes. OSI’s liabilities of $43 million were all loans payable for Individual Donors 16% conservation transactions. A committee of OSI’s board, working with an OSI/OSC Funds 65% independent investment consulting firm, oversees its investment assets, which are managed by 20 outside investment firms. Overall investment return for 2007 was Operating Expenses* 9.3 percent. Over the past three years, OSI has averaged $7,054,000 12.3 percent per year, and program payout during these Management and Support 8% years averaged 4.8 percent of investment assets. Environmental Participation and Education 11% Land Acquisition 33%

Conservation Research Please note: This financial information includes activities Program 11% of both the Open Space Institute (OSI) and the Open Space Conservancy, the land acquisition affiliate of OSI. Please PRI Loan Interest 10% contact OSI if you would like to receive our audited Land Stewardship 16% financial report. Conservation Finance Program 11% * Excludes non-cash charges 24 JRS DryfoosCharitable Lead Trust JPMorgan Chase Foundation &Sons John Wiley Jessie B.CoxCharitableTrust Jacob BleibtreuFoundation JPMorgan Private Bank The J.M.Kaplan Fund Interforest, LLC IBM Corporation Hudson RiverFoundation Horizon Foundation, Inc. Greenway Conservancyforthe Goldman Sachs&Co.Matching Golden Family Foundation Glynwood Center, Inc. Gladys andRolandHarriman Ginsburg Development Gilbert andIldikoButler The GeraldineR.Dodge Gap GivingProgram The G.UngerVetlesen Foundation FSA/Dexia Company Friends oftheHudsonValley ExxonMobil Foundation Earth ShareofNewYork Durst Organization Doris DukeCharitableFoundation The DicklerFamily Foundation Davis ConservationFoundation Dan &NancyPaduano Foundation Dan &EdithEhrlichFoundation Copper ArchCapital,LLC Charina Foundation, Inc. Center forDiscovery Caravan Products Company Butler ConservationFund, Inc. Bunbury Company Brooks & Boscobel The BettermentFund Benwood Foundation Baldwin Foundation Avon Products Foundation Anonymous American Conservation Alson CapitalPartners CORPORATE SUPPORT FOUNDATION AND yours asours.Thankyouforyourgenerousandongoingsupport. vision forthefuturecoupledwithyourcommitmenttoourworkmeansthatstoriesonthesepagesarejustasmuch The OpenSpaceInstitutethanksallofyou,oursupporters,whomakethecriticalworkconservationpossible.Your Hudson RiverValley Gift Program Foundation Companies Foundation Foundation Association, Inc. U.S. NorthernResearch Center Tekserve The SulzbergerFoundation Storm King ArtCenter Stony Kill Farm Environmental Stainman Family Foundation Sotheby's Sharonsteel Foundation Scenic Hudson,Inc. Samuel H.Kress Foundation Ruder Family Foundation Rondout EsopusLand Ralph OgdenFoundation The Prospect HillFoundation The Peter andCarmenLuciaBuck Parks &Trails NewYork Palisades InterstatePark Overhills Foundation New York StateOfficeofParks, New York StateEmpire New York StateDepartmentof New York -NewJerseyTrail The NatureConservancy Natural ResourcesDefense The MosaicFund Morgan Stanley Mohonk Preserve, Inc. &Co. Milbank Winthrop Merrill Lynch &Co.Foundation Merck Family Fund Mary W. HarrimanFoundation Marvin andCompany, PC Marist College Malcolm GordonCharitableTrust Lyndhurst Foundation The Lyme Timber Company WallaceLila AchesonandDeWitt Liberty Title Agency, LLC Leonard andEvelynLauderFund Leo ModelFamily Foundation The LandTrust AllianceNortheast The Kohlberg Foundation JustGive.org Education Center Conservancy Foundation Commission Preservation Recreation andHistoric Development Corporation Environmental Conservation Conference Council Conservation Fund Endowment* Hudson Highlands. WallaceDeWitt Fund forthe 2001 fromtheLilaAchesonand to theOpenSpaceConservancyin endowment whichwastransferred Wallace Endowment,apermanent by theLilaAchesonandDeWitt conservation workismadepossible *A significantportionofourland Nat Klipper John &MargotErnst Richard &GretaWeil Conway Albert K.Butzel Forrest Berkley&MarcieTyre $5,000 -$9,999 PATRONS Thomas M.Woodbury &Barbara Sheryl &DanielTishman H. Peter Stern&HelenW. Drutt Jim &JaniceStanton Arthur &LoisStainman Josephine A.Merck Richard &RonayMenschel Mark Ginsberg Joshua Ginsberg Robert &SandraFreeman Christopher &SharonDavis J. MatthewDavidson Peter &HelenaBienstock Richard &IrisAbrons $10,000 -$24,999 BENEFACTORS Larry &Wendy Rockefeller James &MaryOttaway, Jr. Thomas J.P. McHenry Valerie AnneMars&Philip White Sibyl Golden Floyd Lattin Mr. &Mrs.GilbertButler Anonymous $25,000 ormore LEADERSHIP World Holdings,Inc.Fund Wide FoundationWinterburn FoundationWinslow The Wallkill Valley LandTrust The Walbridge Fund, Ltd. C.MarsFoundationVirginia Vervane Foundation United Way ofTri-State Jaffe English $1,000 -$4,999 SPONSORS Marian S.Heiskell James E.Hanson Mr. &Mrs.SamuelHamill,Jr. Eugene &EmilyGrant Darcy &GeorgeGould Elizabeth Glazer& Irvine D.Flinn Joseph A.Fazio &ScottHunter Paul J.Elston& Christopher J.Elliman Ann &EdwardElliman Daniel J.&EdithA.Ehrlich Douglas Durst Jacqueline Dryfoos& Susan Dryfoos Barbara &RichardDebs Peter J.Davoren& Matilda &MarioCuomo T. JeffersonCunningham,III Mr. &Mrs.D.S.Croyder Mary SharpCronson Isabel McHenryClay Patricia Clarke&JeffreyMishkin Frank &AnneCabot Gilman S.Burke Richard &Patricia Brooks Peter L.Bray&BridgetA.Reel Malcolm Borg Elizabeth Borden Thomas &NancyBerner Richard &Kerri Bartlett Michael Baldwin Susan Babcock James &MarjorieL.Andrews Edward A.Ames Allison Wick John &Patricia Adams Hume R.Steyer&Nanahya Scott &Tracy Sipprelle Sascha Rockefeller Jane &Kevin Roche Frederic C.Rich Samuel F. Pryor, III Daniel &NancyPaduano Leonard A.Lauder James M.Lark Samuel W. Lambert,III Donors William Montgomery William Frances G.Beinecke Leonard Barkin Stacey Farley Santana

25 THANK YOU Samuel G. Huber Winifred Benchley Peter Hooten Pascal Tone Allan W. Karp & Lisa Keith Robert & Elinor Berlin Jocelyn Jerry Mr. & Mrs. Kevin Tremble Kenneth & Barbara Kaufman Richard S. Berry Thomas J. Kavaler John Watts Morvin & Charlotte Leibowitz Mark Bierman & Genevieve Chaw Stephen & Belinda Kaye William Weber David Lenefsky Robert Binnewies Bill Kitchel Philip H. White Nadine Lemon Felicia Blum Judith LaBelle Charles Wille Larry & Dana Linden Eliza & Alex Bolen Gretchen Long H. Neil Zimmerman John Luongo Neal A. Brown Douglas & Sarah S. Luke, Jr. Joseph & Kathleen Martens Catherine Brown Robert P. McCarthy FRIENDS Jean & Claudio Marzollo Charles B. & Charlotte Buchanan Barnabas McHenry Up to $250 David & Sally McAlpin, Jr. Ann Buckner Davis McHenry & Ann Preven Robert Adamski James S. McDonald Peter & Ann Cannell Michael & Winsome McIntosh Joan Aichele Jason & Deborah McManus Starling W. Childs, II John & Elinor McKenna, Jr. Nathan Altucher & Carol William H. & Sally B. Meadows Ik Hoon Choi Lys McLaughlin & Rev. Marychild Jim & Peg Miller Charles & Lauren R. Church Thomas Pike Barbara Anderman Elaine Musselman Bruce & Christine Churchill Doris & Lawrence Merson Nicholas & Hanay Angell Caroline P. Niemczyk Kathryn S. Cochrane Richard Mittenthal John Antrobus William H. Nixon Bertram J. & Barbara Cohn Allen Model Barbara E. Appel David & Diane Paton Gertrude Whitney Conner Peter A. Morgan Kenneth J. Baer Mark D. Perreault Kimberly Conner & Nicholas Charles & Sarah Morgan Kevin R. Baker Christopher D. Roosevelt Groombridge Arnold Moss Murray Barnes Jonathan & Diana Rose John Copeland Ann & Steven Murphy Kate Bartholomew Jane Gregory Rubin Susan R. Cullman Michael Musgrave & Richard Beamish & Rachel Rice Brian & Ginny Ruder Joan K. Davidson Janie Bailey Clare Beckhardt Michael Sasse Michael Devonshire Merlin & Janet Nelson John J. Behan Frank & Giovanna Seldin Henry Diamond Don & Sandra Nice Mark & Michelle Belill Patricia & Bernard Shaw Ronald Diprinzio Mr. & Mrs. Nelson Obus Melvin Bernhardt & Jeff Woodman Constantine & Anne Sidamon- Merideth Dolan Ralph W. Odell, Jr. Olaf Gregory Bertram-Nothnagel Eristoff L. F. Boker & Susanna Doyle Robert & Stephanie Olmsted Paul Bezzini Richard L. Sigal Nancy P. Durr Mr. & Mrs. Frederick Osborn, III John C. Bierwirth Edith Carol Stein Melissa & Daniel Eagan Peter Paden John B. Blenninger Peter R. Stein & Lisa Cashdan John D. Echeverria Peter S. Paine, Jr. Philip & Jacqueline Blocklyn David H. Taylor Gail Edgerton Matthew Pearson Tim & Robin Brewer Bill Weld & Leslie Marshall Richard Emery & Ms. Melania Lee Pomeroy Mr. & Mrs. Hal Brill Michael J. White Levitsky Katherine & James Porter Susan Lynn Brown Otto Edward B. Whitney & Lucia & Jon Evans John & Eugenia Potter Daniel Brownstein Martha Howell Renate Fersch Marie Ragucci Mr. & Mrs. Donald Bunk Julia Harte Widdowson Connie Fishman David & Jeannette Redden Anthony & Leonora Burton Trish & Philip Winterer Lewis & Bobbie Frankfort Alexander Reese Mr. & Mrs. George H. Buttler, III Bob & Blaikie Worth Mark & Valerie E. Freemyer Avery & Monica Rockefeller, III Peter M. Bynum & Susan W. Christopher R. Zellner & Debra Johnathan Friedland Arnold Saks Coleman Ann Pinto Clayton W. Frye, Jr. Moshe Sasson Albert Caccese Victor & Carol Gallo Robert & Sara Savage John Cannon & Alta Turner CHAMPIONS Robert Goelet David Schoenbrod Katrina Cary $250 - $999 Ed Goodell Philip & Martha Scott Alexandra Christy J. David Adler Elizabeth Gordon Bob & Lisa Semple Thomas & Arlene Cobb John Winthrop Aldrich & Tracie John Grace Robert G. Simon Patra Cogan Rozhon Conrad & Marsha Harper William Kelly Simpson David & Vivien Collens James & Patricia Allen Colonel Williams L. Harrison, Jr. David & Ruth Skovron Ethel Convel Scott Anderson Marjorie L. Hart McKelden Smith Jean-Paul Courtens & Jody Bolluyt Nancy April Mary Hays Jennifer P. Speers Shelia Crespi Mr. & Mrs. Ronald R. Atkins Leslie Nice Heanue James & Mimi Stevens Yvette Croizer Colin Bailey Huyler C. Held Roger & Lee L. Strong Tim Culbert & Celia Imrey Peter Baird J.B. Henderson Alex Suess Ariel Curtin & Jeanne Detar James Baker, III Allen Hershkowitz Ed Swyer Richard Cusumano James Baker, IV Michelle Hertz & Lawrence Peter Szabo Nils Dahl Palmer Baker, Jr. Friedman James L. Terrill Walter & Jane Daniels Carter F. Bales Clay Hiles & Sarah Chasis Thomas & Frances D. Thacher, II Doris Dannemann Mr. & Mrs. Montgomery Bancroft Kate & Chris Hobbs Virgina Thors Stephen & Mary Jane D'Arrigo Bill Bancroft Joseph Holland Gregory F.W. Todd Wanda A. Davenport

26 Brian Hickey Robert W. Hennig Werner Hengst George W. Henderson Joseph &CatherineB.Heider Warren K.Hay Eunice &Walter Hartmann Linda Hartley&RobertCobb Mr. &Mrs.BlairHartley Calista Harder Amy E.Hanninen Walter J.Handelman Dan Hammond Marge Haltigan Glenna Haines Adelaide Haas John &JillGuthrie Dagmar Gunther-Stirn Lucinda Grovenburg Rochelle F. Grossman Ms. Leslie Greenwood Lenore Greenberg David &MargaretGordon Ken Goldsmith Richard &CherylS.Goldman James &Kathleen Gilbert Jane WylieGenth H. Frederick Gehrlach Joe Gardner Gambert William Ann Galloway Guy &AllisonGabrielson Michael &AnneFulford Carol Fuchs Christiane Friedlander Mary EllenFrieberg Peter &BarrettFrelinghuysen Stanley Freilich &CarolMarquand Jerry &Phyllis Franklin David &JudithFoster Carole Fortenbach Stephen &AudreyForrer David K.Ford John Force Gary Finger Russell &EleanorFieldhouse Mike Ferrucci Michael Ferris Alison Farrell Sheila C.Ewall Mr. M. &Mrs.William Constance I.DuHamel Kim A.Doggett Carolyn Dinshaw Ruth A.Diem&JeffreySlade Ralph Degroff,Jr. Joseph Deep Pierre deRham Herbert Lee Davis Evarts, Jr. Kenneth Morgan Pru Montgomery Edward H.Miller Matthew Miczek Mr. &Mrs.ClarenceF. Michalis Mihaly Mezei Richard Meril Mr. &Mrs.Thomas Meath Daniel &CindyMcEvoy Douglas &SusanMcCuen Frederick McCandless Richard Mayo C.Mayer William Nancy M.Maupin Alex Matthiessen Langdon Marsh&ElliePutnam M.Maroney Whitney Michael &JudithMargulies Peter C.March Daniel M.Marazita Michael Maduras Susan MacLean Ralph Macchio Laurence Lytton Leonard Lyon Tom Lynch Margaret D.Luciano Nancy Locicero-Hunter Thomas W. Lloyd& Christina &UlisesLiceaga Mr. &Mrs.EdwinDeanLeonard Russell V. Lee Robert Larsen&BarbaraRubin Deborah Lans Susan D.Landstreet&Stephen Tadasuke &Patricia Kuwayama Erik Kulleseid Mr. &Mrs.LarsI.Kulleseid Dennis Krumholz Nathan M.Kravis Alice Krakauer John L.Kolp Scott Klion Carol Kleis &RexParker Sandra Kissam Howard Kirschenbaum & Margaret G.King KellnerWilliam Albert Kaufman Richard J.Kammerer Peter Jung Andrew Johnson Kenneth &NancyJohnson Richard &MarianneJackson Stephen Ives&AnneSymmes Anne E.Impellizzeri Barnard &HelenHughes Nick HamTaylor Fleming Mary M.Rapp Albert &Geraldine Shapiro Bruce &JodiShames Constance Serafin George Senft Michael D.Selender Richard M.Schwartz Geraldine Schwartz David Schwartz Fred Schroeder Barbara &RonaldSchade Ronald Savitski Arthur &HarrietSavage Kirkpatrick Sale Mary &RodneyRunestad Barbara Rubin&RobertLarsen Isaiah A.Rubin Laura Rozek John &ConsueloRowan Michael Rotindo&CynthiaTeeple Fred P. Roslyn Carol E.Rosenthal Andrew Rosenthal Thomas Romich Joseph &MaryRoland Gordon Rogoff Mr. &Mrs.StanleyJ.Roberts Stone &BetseyRoberts Jane Rigney Koren Riesterer John Riebesell Wayne &MonicaRichter Carolyn Ricci Laurence Reilly Robert A.Reed Jon &AnnBakerReed Paula Rand &William Maureen H.Radl Robert &JanetQuinn Elizabeth &EmersonPugh Meredith M.Prime Sharon Poff Yvette Plotch Geoffrey Platt,Jr. Xavier &Penelope Pi-Sunyer Harrison &SarahPayne Larry &EvaPaul Hon. &Mrs.GeorgeE.Pataki Mrs. GeorgePalmer, II Peter O'Shea Anne Pell Osborn Mary JoNutt John Novi Steve Noble Steven Nissen Paul Nick Gary Natalie Francis Murray&Wendy Lee &KathleenWilliam Moss Charles &AnneG.Morrison Jordan 212.290.8200. development office: your listing,pleasecontactthe you wishtomakeacorrection been inadvertentlyomittedor generosity. Ifyounamehas supporters andrecognizeyour We wishtoacknowledgeallour Mary T. Yelenick &ElizabethL. Margaret JeanWort David V. Woolf Ethan &AnneWinter Thomas &Patricia Jr. Willis, Ross &Karen Williams R. Willemann Christina White Nathaniel &EugeniaWheelwright Cornelia Wells John C.Weiser Lewis Weinfeld Michael Washburn &Nancy Irene Warshauer Gerald &GraceWapner Eva Vanrijn Judy &EdwardVan Put Joanna Underwood Joan Tumblety Neil Trenck Mr. &Mrs.EdwardToohey Elizabeth &EdwardThorndike Jesse &CeciliaTaylor Richard Szypula Orest Szul Harry &MarjorieSweet K.Suttie William Patricia F. Sullivan Anthony &DianeStropoli Stella Strombolis David Straus Edward EstyStowell,Jr. Gretchen Stevens& Matthew S.Stern Alfred R.Stern Peter &Lydia Stenzel Frederick &MarenStein Lewis Steele Henry H.Stebbins Robert &Frances Soond Richard J.Smith Carter L.Smith Barrett L.Smith&SusanB.Aaron Laurie &JeffreySilberfeld Simon Sidamon-Eristoff Robert Shulman Donors Broad Carmichael Russ Immarigeon

27 THANK YOU BOARD OF TRUSTEES STAFF Susan Morningstar John H. Adams, Chair Christopher J. (Kim) Elliman External Affairs Coordinator Jerry Polner Edward A. Ames, Secretary Chief Executive Officer Susan Babcock Joseph J. Martens Accountant President Stuart Root Peter A. Bienstock, Vice Chair Robert K. Anderberg Catskills Project Manager Elizabeth Borden Vice President, General Counsel Sally Schuiling Gilman S. Burke Susan Barbarisi Conservation Finance T. Jefferson Cunningham III Director of Administration Program Associate J. Matthew Davidson Nate Berry Katie Stone Paul J. Elston, Treasurer Project Manager Land Project Manager Samuel G. Huber Annie Blaine Assistant Counsel Felix Kaufman Intern Meera Subramanian Samuel W. Lambert III Tally Blumberg Communications Manager Gillian Weber-Mollod Barnabas McHenry Vice President External Affairs GIS Specialist Caroline Niemczyk, Vice Chair Antonia Bowring Abigail Weinberg Katherine O. Roberts Vice President and Chief Operating Officer Conservation Research Manager Hume R. Steyer Pati Canseco Aaron White Patricia F. Sullivan Land Program Associate Reception Sheryl Tishman Donald Cramer Valerie Anne Mars, Honorary Trustee Controller (through 10/07) CONSULTANTS Samayla Deutch Chris Cardinal ADVISORS Vice President, Senior Counsel Information Technology Consultant John Ernst Paul Elconin Michael Catania Nat Klipper Mid-Hudson Land Steward, Field Coordinator New Jersey Stewardship Coordinator Conservation Loan Fund REGIONAL ADVISORS Jeff France Mike Ferrucci Office Manager Forestry Consultant Northern Forest Jennifer Grossman Conservation Finance Program Harold Janeway Vice President Land Program Eric Hamerstrom Roger Milliken Jr. Joe Holland Easement Monitor Bob Perschel Controller Richard Hubbard Sheryl Tishman Peter Howell Field Coordinator Western Brendan Whittaker Executive Vice President Massachusetts Conservation New Jersey Conservation Finance and Research Loan Fund Jane Galetto Programs Susan Kreeger Jim Hall Marc Hunt Human Resources Consultant Christine Rico Andrew Johnson Credit Director, Southern Appalachians Field Coordinator Citizen Action Consultant Michelle Knapick Laura Kissinger Carlton Montgomery Associate Counsel John Stokes Paul McRae Accounting Associate

28 Support Our Work

Five Ways to Help

The Open Space Institute gratefully acknowledges the generous support of our donors. It is through the commitment of the many individuals, foundations, corporations, and institutions that our work continues. We hope you take pride in all that we have accomplished with your help, and we thank you for your outstanding leadership and generosity in 2007.

1. Make a tax-deductible contribution to OSI, in the form of cash, stocks, mutual fund shares, or donor- advised funds for operating support, capital project support, tributes or special occasions, or commemorative gifts for memorials. Use a credit card to conveniently donate online at www.osiny.org. 2. Estate Planning: Consider leaving a legacy of protected landscapes by including OSI in your estate planning. 3. Real Estate: Make land, easement, and stewardship grants to OSI through an outright gift, a will, or with the establishment of a remainder trust that can create tangible support for land conservation in your neighborhood and beyond. 4. Employer Matching Gift: Many companies will match a percentage of your donation. Send your employer’s matching gift form to OSI along with your donation. 5. Payroll Deduction: Consider a convenient payroll deduction through Earth Share and the Combined Federal Campaign. For more information, please contact Tally Blumberg, Vice President External Affairs, at 212.290.8200, ext. 228.

Earth Share Workplace Contributions OSI is a member of Earth Share and would like to thank those individuals and families who have supported our work through the payroll deduction plans offered by Earth Share.

Design: Jenkins & Page, NYC Writer and Editor: Meera Subramanian Production: Susan Morningstar Printer: Monroe Litho, a Forest Stewardship Council certified printer using 100% renewable, non-polluting wind power. Printed on Monadnock Astrolite 100% post-consumer waste recycle paper using vegetable-based inks. Photography and Illustration: Except as noted, photos are property of OSI: Cover: Sunflower, Moreau Lake State Park, Gansevoort, NY: Brett Cole; Water- fall: Matt White; Bird watching: Meera Subramanian; Inside cover & locator maps: Bryan Purcell; p4: Ed Van Put; p5: OSI; p6: Peppers, farm truck, sunflower, Brett Cole; Rondout Valley aerial photo, courtesy of Behan Planning Associates, LLC; p8: Carl Heilman II/Wild Visons, Inc; p10: Mount Adams fire tower, Carl Heilman II/Wild Visons, Inc.; p12: Carl Heilman II/Wild Visons, Inc.; foldout: Map of Finch, Pruyn lands by Nancy Bernstein, previously published in The Adirondack Explorer; p13: Carl Heilman II/Wild Visons, Inc.; p14: top and bottom, Jerry and Marcy Monkman/EcoPhotography.com; p16: USPS stamp photo: Jerry and Marcy Monkman/EcoPhotography.com; p17: Jerry and Marcy Monkman/EcoPhotography.com; p18: Top and bottom, Carl Heilman II/Wild Visons, Inc; p19: Jerry Jenkins; p20: Mildred Kennedy; p23: Nick Zungoli

The Open Space Institute, Inc. was incorporated in 1974 under section 402 of the Not-For-Profit Corporation Law of New York and is a tax-exempt public charity under Section 501(c)(3) and 509(a)(1) of the U.S. Internal Revenue Code. All contributions to the Open Space Institute, Inc. are tax-deductible to the fullest extent of the law. A copy of our latest financial report may be obtained by writing to OSI or the New York Department of State, Office of Charities Registration, The Capitol, Albany, NY 12231. The mission of the Open Space Institute (OSI) is to protect scenic, natural, and historic landscapes to ensure public enjoyment, conserve habitats, and sustain community character. OSI achieves its goals through land acquisition, conservation easements, regional loan programs, fiscal sponsorship, creative partnerships, and analytical research.

Open Space Institute 1350 Broadway, Suite 201 New York, NY 10018-7799 Tel: 212.290.8200 Fax: 212.244.3441 www.osiny.org