Preservation Trust Inc.

## Approach & Strategy

Preservation Trust Inc. is a private operating foundation in Southborough, Massachusetts, established by William A DePietri in 2000. Unlike most foundations in the Granted database, this entity is an operating trust, not a grantmaking foundation. Its sole charitable activity is administering expenses related to the preservation of land, and it has made zero grants to external organizations in its entire 15+ year history.

Key Finding — Not a Grantmaking Foundation: Preservation Trust Inc. does not distribute funds to nonprofits. It conducts direct charitable activities (land preservation administration) rather than making grants. The $4M in assets represents held land or land-related investments, not an endowment for grantmaking.

William A DePietri: President and Treasurer with $0 compensation. DePietri is a prominent Massachusetts real estate developer (Cornerstone Properties, based in Southborough). The trust likely holds conservation easements, deed restrictions, or land management responsibilities related to his development projects.

Website Mismatch: The website preservation.org belongs to the National Trust for Historic Preservation — a major national nonprofit with no connection to this Southborough trust. The foundation has no public website per IRS records.

Operational Model: The trust accepts contributions (primarily from DePietri or related entities) to fund land preservation administrative work. The large FY2024 contribution of $1.655M likely represents a new land-related transfer. The trust does not seek external grants and does not make them.

## Funding Patterns

Grant History: Zero grants in 15+ years of 990-PF filings (2010-2024). This foundation is not a grantmaker.

Contributions Received (inflows from DePietri/related parties): - FY2024: $1,655,000 (major inflow — likely property or land-related transfer) - FY2023: $19,300 - FY2022: $8,500 - FY2021: $15,000 - FY2020: $10,000 - FY2019: $0 - FY2018: $19,800 - FY2017: $4,000 - FY2016: $1,954,000 (large inflow that year)

Assets: - FY2024: $4,007,127 - FY2023: $2,326,028 (before large 2024 contribution) - FY2022: $2,290,429 - Assets have been remarkably stable at ~$2.3M for years, with periodic large jumps (2016, 2024)

Operating Expenses: Minimal administrative expenses only (~$8,278 in FY2024). The foundation operates with near-zero overhead, suggesting a passive land-holding entity.

## Peer Comparison

Assessment: This entity is fundamentally different from foundations that grant to nonprofits. It is best understood as a private land stewardship vehicle held by a real estate developer. No useful comparison to grantmaking foundations applies.

## Recent Activity

FY2024 Major Inflow: A $1,655,000 contribution was received in FY2024, more than doubling assets from $2.33M to $4.01M. This is consistent with a large land or easement transfer into the trust, possibly tied to a new development project by DePietri's real estate firm.

No Grant Activity: Zero distributions have been made in any year. The trust's only outflows are small administrative expenses ($8,278 in FY2024) related to land preservation management.

15-Year History: Filing data extends to 2010. The pattern is consistent: contributions in variable amounts, zero grants, minimal expenses.

No Charitable Activities Beyond Administration: The 990-PF lists no charitable programs beyond "administrative expenses related to the preservation of land." This is typical of a conservation easement holding vehicle.

No Public Presence: No website, no press releases, no news coverage. The trust operates entirely behind the scenes of DePietri's real estate activities.

## Application Tips

This foundation does not make grants and does not accept applications. Preservation Trust Inc. is a private operating land preservation trust, not a grantmaking foundation. It has made zero grants in its entire operating history and does not distribute funds to external organizations.

For organizations seeking land conservation support in Massachusetts:

1. Contact the Massachusetts Land Trust Coalition: MLTC connects land conservation nonprofits with private landowners and conservation resources.

2. Consider the Massachusetts Executive Office of Energy and Environmental Affairs: State grants for land conservation are available through the Grants and Loans program.

3. Approach the Conservation Law Foundation: For legal support on land conservation in New England.

4. Look for other DePietri philanthropy: William DePietri may have other philanthropic vehicles or make direct donations outside this trust. His firm's community relations may be a better engagement channel.

5. This is not a productive grant prospect. Remove from prospecting lists and focus on foundations with active grantmaking programs.