The Trustees of Reservations

Nonprofit profile at a glance

EIN
042105780
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Boston, MA, USA
Phone
6175427696
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Land Resources Conservation

Official website

Reported finances

Revenue
$57,850,047
Expenses
$49,426,983
Assets
$398,201,633
Liabilities
$11,761,116

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

36 people listed

Executive titles in this filing

  • KATIE THEOHARIDES (PRESIDENT AND CEO)
  • ELIZABETH MCDONOUGH (VICE PRESIDENT, BUSINESS OPERATIONS & ENGAGEMENT)

Highest reported compensation

  • KATIE THEOHARIDES (PRESIDENT AND CEO): $476,680 total reported compensation
  • CHRISTINE MORIN (CHIEF OPERATING OFFICER): $331,262 total reported compensation
  • BRIAN THERRIEN (CHIEF FINANCIAL OFFICER, TREASURER): $312,799 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Overview - founded in boston by pioneering landscape architect and open space visionary charles eliot in 1891, the trustees is the nation's first and the commonwealth's largest conservation and preservation nonprofit.

What it reported doing in 2024

Welcoming and connection - each year, the trustees welcomes over 1.8 million visitors to explore our treasured landscapes and experience thousands of programs and events. Our 80,000 trustees member households also experience these special places while enjoying exclusive benefits. Since 1891, support from members has made it possible to care for our special places, ensuring they remain vibrant and accessible for everyone, forever. The trustees connects visitors of all ages through thousands of programs and educational programming including outdoor, community, and culture through dynamic and engaging experiences. This includes summer and youth camps, walks, talks, cooking classes, concerts, farm share programs, and special events. The trustees inspire Massachusetts residents and visitors to lead healthy, active lifestyles while forming a deeper connection to nature.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 81
  • Accountability: 95
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.2%; rating input score 85
  • Program expense ratio: 78.3%; rating input score 78
  • Fundraising efficiency: $6.55 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.6%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 8.06; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 85.2% of revenue deployed · 78.3% of spending went to programs
  • Governance: 22 of 22 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $38.7M in reported program spending
  • Leadership: top reported pay $477K · 36 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.8M reported
  • Consistency: 45 of 45 current checks pass
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.