The Trustees of Reservations
The Trustees of Reservations reported $57.9 million in revenue and $49.4 million in expenses for the fiscal year ending March 31, 2025. Of every $100 it spent, $78.33 went to program services, $11.41 to management and general costs and $10.26 to fundraising. Its largest source of revenue was contributions and grants: 57.5% of the total. The highest compensation it reported for one person was $476,680 (PRESIDENT AND CEO). 44 people received more than $100,000 in reportable compensation. Revenue rose 29% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending March 31, 2025 · Form 990, Part IX, line 25 · total expenses $49MFor context, the median across 371 covered environment charities: $85.82 programs, $10.80 management, $3.38 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending March 31, 2025 · Form 990, Part VIII · total revenue $58MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 78.3% | 83.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.4% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 10.3% | 3.3% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.15 | $0.03 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 57.5% | 87.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 3.0% | 4.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 15.9% | 3.2% |
| Highest reported compensation Part VII-A, columns D–F | $476,680 | $293,532 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.96% | 1.74% |
| People paid over $100,000 Part VII, line 2 | 44 | 7 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 93.8 | 18.8 |
| Independent voting board members Part VI 1a–1b | 22 of 22 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseStewardship - as the forever stewards of the special places the trustees are responsible for ensuring these natural landscapes, unique buildings, and cherished properties are here for generations to come and to create a world-class, highly accessible visitor experience. Trustees properties include over 120 properties, 375 miles of trails, 76 miles of accessible shoreline, 113 parks and woodlands, 12 public gardens, and 250 buildings. The care of these properties is handled by employees skilled in landscape management, horticulture, arboriculture, and historic resources. Historical resource…
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…
Conservation - together with our partners, the trustees cares for nearly 52,000 acres of land across the commonwealth, including more than 27,000 acres of publicly accessible, treasured landscapes. Most massachusetts residents live just a few miles from a trustees property, where countless memories are made and shared. The trustees also protect 20,700 acres of land through conservation restrictions, making the trustees the largest private owner of conservation restrictions in massachusetts
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT AND CEO Officer, 30.00 hrs/week | $460,610 | $0 | $16,070 | $476,680 |
| CHIEF OPERATING OFFICER Key employee, 40.00 hrs/week | $310,344 | $0 | $20,918 | $331,262 |
| CHIEF FINANCIAL OFFICER, TREASURER Officer, 28.00 hrs/week | $297,442 | $0 | $15,357 | $312,799 |
| CHIEF MARKETING & DIVERSITY OFFICER Key employee, 40.00 hrs/week | $236,042 | $0 | $40,832 | $276,874 |
| INTERIM CHIEF OPERATING & PEOPLE OFFICER Key employee, 40.00 hrs/week | $213,490 | $0 | $19,592 | $233,082 |
| MANAGING DIRECTOR, INDIVIDUAL GIVING Highest compensated employee, 40.00 hrs/week | $202,733 | $0 | $29,930 | $232,663 |
| INT. HEAD OF DEV/SR DIR. IND. GIVING Key employee, 40.00 hrs/week | $196,483 | $0 | $35,483 | $231,966 |
| VICE PRESIDENT, BUSINESS OPERATIONS & ENGAGEMENT Highest compensated employee, 40.00 hrs/week | $196,076 | $0 | $18,166 | $214,242 |
44 people received more than $100,000 in reportable compensation from The Trustees of Reservations (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.7M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b22 · 22 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5976
- Volunteers Part I, line 6756
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| STONE & LIME IMPORTS INC Construction & installation | $1,278,478 |
| A&R MBE ROOFING CONTRACTORS LLC Maintenance & repair services | $470,358 |
| JET MAIL INC Mailing services | $349,756 |
| PMG POSTAGE Mailing services | $316,355 |
Individuals listed as contractors are left out. 28 contractors were paid more than $100,000 in all.
Private foundation grants it received
202 private foundations reported grants to The Trustees of Reservations totaling $16M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Trustees of Reservations's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Trustees of Reservations, you can publish a response that is linked from this page.
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Of every $100 The Trustees of Reservations spent in FY2025, $78.33 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- The Morton ArboretumLisle, IL · revenue $58M · programs 82.5% · 2024
- Hudson Highlands Fjord TrailBeacon, NY · revenue $60M · programs 85.5% · FY2025
- Fondo Mexicano para la Conservacion de la Naturaleza ACMexico, · revenue $57M · programs 92.0% · 2024
- Elevate EnergyChicago, IL · revenue $61M · programs 82.1% · 2024
- Massachusetts Audubon SocietyLincoln, MA · revenue $56M · programs 82.5% · FY2025
All environment charities · Largest charities in Massachusetts
Questions people ask
How much of The Trustees of Reservations's spending goes to programs?
In the fiscal year ending March 31, 2025, The Trustees of Reservations reported that 78.3% of its $49.4 million in expenses went to program services, 11.4% to management and general and 10.3% to fundraising (Form 990, Part IX).
How much does The Trustees of Reservations pay its top executive?
The largest total compensation The Trustees of Reservations reported for one person in the fiscal year ending March 31, 2025 was $476,680, for the role of PRESIDENT AND CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Trustees of Reservations get its money?
Of $57.9 million in revenue in the fiscal year ending March 31, 2025, 57.5% came from contributions and grants (including 3.0% from government grants) and 15.9% from program service revenue (Form 990, Part VIII).
Is The Trustees of Reservations a registered charity?
The IRS lists EIN 04-2105780 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending March 31, 2025, object 202600449349301610 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending March 31, 2024, object 202510419349302151 · read the filing
- FY2023: Form 990 for the fiscal year ending March 31, 2023, object 202410389349302201 · read the filing
- FY2022: Form 990 for the fiscal year ending March 31, 2022, object 202320449349301452 · read the filing
- FY2021: Form 990 for the fiscal year ending March 31, 2021, object 202200429349301615 · read the filing
- FY2020: Form 990 for the fiscal year ending March 31, 2020, object 202120449349300417 · read the filing
All filings for EIN 04-2105780: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.