Civic Intelligence

Central Park Conservancy Inc.

990 • Fiscal year 2015 • EIN 13-3022855

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 15, 2016

14 East 60Th StreetNew York, NY 10022

(212) 310-6600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

10th percentile

0.03x

Higher debt load relative to assets than 10% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

15th percentile

0.16x

Higher debt load relative to revenue than 15% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Net Margin

44th percentile

5.4%

Higher net margin than 44% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

46th percentile

$770,711

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Asset Growth

19th percentile

-2.9%

Faster asset growth than 19% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

79th percentile

13%

Faster revenue growth than 79% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Assets

Down

$370,096,188

Down $10,913,106 (-2.9%) from 2014

Net Assets

Down

$358,975,685

Down $12,934,998 (-3.5%) from 2014

Liabilities

Up

$11,120,503

Up $2,021,892 (+22%) from 2014

Revenue

Up

$68,079,603

Up $8,007,625 (+13%) from 2014

Expenses

Up

$64,413,567

Up $12,161,476 (+23%) from 2014

Net Income

Down

$3,666,036

Down $4,153,851 (-53%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0Assets 2010: $192,477,875Liabilities 2010: $5,113,425Net Assets 2010: $187,364,4502010Assets 2011: $220,518,799Liabilities 2011: $5,686,990Net Assets 2011: $214,831,8092011Assets 2012: $216,837,164Liabilities 2012: $6,712,736Net Assets 2012: $210,124,4282012Assets 2013: $339,255,857Liabilities 2013: $7,369,351Net Assets 2013: $331,886,5062013Assets 2014: $381,009,294Liabilities 2014: $9,098,611Net Assets 2014: $371,910,6832014Assets 2015: $370,096,188Liabilities 2015: $11,120,503Net Assets 2015: $358,975,6852015Assets 2016: $330,587,867Liabilities 2016: $10,450,169Net Assets 2016: $320,137,6982016Assets 2017: $371,581,363Liabilities 2017: $11,215,727Net Assets 2017: $360,365,6362017Assets 2018: $391,516,936Liabilities 2018: $15,549,772Net Assets 2018: $375,967,1642018Assets 2019: $388,990,197Liabilities 2019: $28,143,366Net Assets 2019: $360,846,8312019Assets 2020: $389,474,475Liabilities 2020: $49,565,274Net Assets 2020: $339,909,2012020Assets 2021: $502,467,688Liabilities 2021: $22,488,813Net Assets 2021: $479,978,8752021Assets 2022: $524,556,314Liabilities 2022: $20,580,770Net Assets 2022: $503,975,5442022Assets 2023: $590,446,635Liabilities 2023: $51,409,590Net Assets 2023: $539,037,0452023Assets 2024: $677,422,729Liabilities 2024: $55,355,428Net Assets 2024: $622,067,3012024

Highlighted filing

2015

Assets$370,096,188
Liabilities$11,120,503
Net Assets$358,975,685

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0-$100MExpenses 2010: $33,623,1212010Expenses 2011: $38,749,7422011Revenue 2012: $47,282,563Expenses 2012: $40,316,332Net Income 2012: $6,966,2312012Revenue 2013: $166,936,012Expenses 2013: $45,273,221Net Income 2013: $121,662,7912013Revenue 2014: $60,071,978Expenses 2014: $52,252,091Net Income 2014: $7,819,8872014Revenue 2015: $68,079,603Expenses 2015: $64,413,567Net Income 2015: $3,666,0362015Revenue 2016: $49,143,915Expenses 2016: $68,006,146Net Income 2016: -$18,862,2312016Revenue 2017: $98,097,373Expenses 2017: $72,425,618Net Income 2017: $25,671,7552017Revenue 2018: $68,185,959Expenses 2018: $69,312,753Net Income 2018: -$1,126,7942018Revenue 2019: $65,671,539Expenses 2019: $77,414,823Net Income 2019: -$11,743,2842019Revenue 2020: $64,665,936Expenses 2020: $73,260,408Net Income 2020: -$8,594,4722020Revenue 2021: $172,706,409Expenses 2021: $81,290,537Net Income 2021: $91,415,8722021Revenue 2022: $147,792,049Expenses 2022: $93,486,159Net Income 2022: $54,305,8902022Revenue 2023: $147,958,188Expenses 2023: $131,200,781Net Income 2023: $16,757,4072023Revenue 2024: $200,192,390Expenses 2024: $150,328,602Net Income 2024: $49,863,7882024

Highlighted filing

2015

Revenue$68,079,603
Expenses$64,413,567
Net Income$3,666,036
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 15, 2016
Return Version
2014v6.0
Gross Receipts
$199,373,022
Mission and Program Overview

Mission

See Schedule O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$103,217,849$148,849,277▲ $45,631,428
Investments in Publicly Traded Securities$173,380,982$133,000,836▼ $40,380,146
Savings and Temporary Cash Investments$35,821,033$38,160,794▲ $2,339,761
Pledges and Grants Receivable$44,031,830$30,850,905▼ $13,180,925
Accounts Receivable$8,532,488$5,915,260▼ $2,617,228
Cash and Non-Interest-Bearing Accounts$8,421,005$5,606,934▼ $2,814,071
Land, Buildings, and Equipment, Net$4,297,009$4,277,560▼ $19,449
Prepaid Expenses and Deferred Charges$829,275$797,859▼ $31,416
Inventories for Sale or Use$250,640$274,427▲ $23,787
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$381,009,294$370,096,188▼ $10,913,106
Other Assets Total$2,227,183$2,362,336▲ $135,153
Liabilities
Accounts Payable and Accrued Expenses$6,176,554$7,417,446▲ $1,240,892
Other Liabilities$2,772,057$3,457,177▲ $685,120
Deferred Revenue$150,000$245,880▲ $95,880
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$9,098,611$11,120,503▲ $2,021,892
Net Assets / Fund Balance
Temporarily Rstr Net Assets$200,983,873$180,218,201▼ $20,765,672
Permanently Rstr Net Assets$88,706,433$90,648,193▲ $1,941,760
Unrestricted Net Assets$82,220,377$88,109,291▲ $5,888,914
Total Net Assets Fund Balance$371,910,683$358,975,685▼ $12,934,998
Total Liabilities and Net Assets / Fund Balance$381,009,294$370,096,188▼ $10,913,106

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,167,238$6,764,976$7,932,214
Leasehold Improvements$1,861,497-$1,861,497
Other Land Buildings$1,248,825-$1,248,825
Other Securities$148,849,277--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$199,954,313$5,314,000▼ $149,000$6,908,000$198,211,313
2013$176,165,313$2,002,000▲ $28,082,000$6,295,000$199,954,313
2012$134,419,313$33,210,000▲ $14,858,000$6,322,000$176,165,313
2011$146,695,313$1,853,000▼ $7,796,000$6,333,000$134,419,313
2010$125,201,313$2,215,000▲ $24,248,000$4,969,000$146,695,313
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mr Douglas BlonskyPresident & CEO and CP AdminFT$589,655$181,056$770,711
Mr Stephen SpinelliCFO and VP for AdministrationFT$341,179$122,760$463,939
Mr Neil CalvaneseVP for OperationsFT$386,920$18,664$405,584
Mr Christopher NolanVP for Planning, Desig & ConstFT$294,799$98,780$393,579
Ms Terri Lynn CoppersmithVP for Visitor ExperienceFT$277,181$72,685$349,866
Ms Laura HallVP for Dev, WC & Special EventFT$240,614$57,857$298,471
Mr Frank LocastroVP for Operations ManagementFT$227,416$65,994$293,410
Ms Jane McIntoshVP for PhilanthropyFT$227,911$37,421$265,332
Ms Kathryn OrtizControllerFT$180,055$35,680$215,735
Mr Russell FredericksChief of OperationsFT$156,808$16,105$172,913
Ms Beth M HaskellAssoc VP of Information Tech.FT$140,252$15,230$155,482
Ms Abigail D HealyAssoc VP for DevelopmentFT$140,397$14,979$155,376
Ms Sheila G KendallAssoc VP of Human ResourcesFT$133,547$14,981$148,528
Ms Lane N AddonizioAssoc VP for PlanningFT$132,208$14,506$146,714

Highest Paid Contractors

ContractorServicesLocationCompensation
Msm Empire Construction CorpConstruction128 ROSELLE STREET, Mineola, NY 11501$2,876,843
FGI CorpConstruction1901 Amethyst Street, Bronx, NY 10462$2,827,284
Padilla Construction Service Incconstruction299 Main Street, Westbury, NY 11590$2,766,139
Prestige Pavers of NYC Incconstruction162 48A 14th Avenue, Whitestone, NY 10462$2,475,269
Almstead Tree CoTree Services58 Beechwood Avenue, New Rochelle, NY 10801$1,368,353
Revenue and Support

Revenue Composition

Contributions and Grants
$50,004,309
Program Service Revenue
$9,186,267
Investment Income
$9,198,552
Other Revenue
$-309,525
All Other Contributions
$45,157,747
Change in Net Assets
$3,666,036

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded61$983,564Fair Market Value (FMV)
Total Noncash Contributions61$983,564-

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,281,744
Revenue Not Reported on Financial Statements
$1,797,859
Revenue Not Reported on Form 990
$-15,675,944
Other Revenue Adjustments
$-380,675
Total Revenue per Audited Statements
$50,605,800
Total Revenue per Form 990
$68,079,603
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$33,028,214
Salaries, Compensation, and Employee Benefits$31,102,769
Total Fundraising Expense$7,087,380
Grants and Similar Amounts Paid$188,048
Professional Fundraising Fees$94,536

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,297,385$2,140,578$2,214,106$20,652,069
Office Expenses$3,660,677$42,411$756,775$4,459,863
Other Employee Benefits$3,044,523$506,503$529,350$4,080,376
Fees for Services Other$2,007,398$485,475$1,010,257$3,503,130
Current Officers, Directors, Trustees, and Key Employees$1,185,889$1,159,460$811,626$3,156,975
Fees for Service Investment Mgmnt Fees-$2,178,534-$2,178,534
Payroll Taxes$1,384,587$191,195$257,872$1,833,654
Occupancy$942,172$162,444$520,711$1,625,327
All Other Expenses$1,132,155$165,191$294,853$1,592,199
Pension Plan Contributions$980,960$193,930$204,805$1,379,695
Depreciation Depletion$709,325$280,674$81,816$1,071,815
Other Expenses$217,839$58,625$128,371$404,835
Insurance$219,068$37,770$120,865$377,703
Grants to Domestic Orgs$188,048--$188,048
Conferences and Meetings$133,057$22,387$29,375$184,819
Fees for Services Accounting-$98,000-$98,000
Fees for Services Professional Fundraising--$94,536$94,536
Advertising$3,774$4,504$25,600$33,878
Travel$13,890$8,767$5,778$28,435
Total Functional Expenses$49,589,525$7,736,662$7,087,380$64,413,567

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$64,413,567
Total Expenses per Audited Statements$63,540,798
Expenses per Audited Statements$62,615,708
Expenses Not Reported on Financial Statements$1,797,859
Expenses Not Reported on Form 990$925,090
Other Expense Adjustments$-380,675
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Central Park Medical UnitNew York, NY501(c)(3)Program Support$100,000
Black Rock Forest ConsortiumCornwall, NY501(c)(3)Program Support$25,918
City Parks AllianceNew York, NY501(c)(3)Program support$20,000
New Yorkers for ParksNew York, NY501(c)(3)Program Support$11,000
The American Society of Landscape ArchitectsWashington, DC501(c)(3)Program support$10,500

International Summary

Spending
$88,238,024

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$63,612,821
North AmericaInvestments---$12,807,072
Europe (Including Iceland and Greenland)Investments---$11,818,131
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,194,292
Fundraising Gross Income$771,800
Professional Fundraising Fees$94,536

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
FLO Luncheon$3,488,048$559,600$450,096$109,504
Fall Gala$1,444,354$117,200$416,426$-299,226
Total Events$5,618,362$771,800$1,194,292$-422,492
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
John PaulsonTrusteeInvestment Management FeesNo$437,314
Marvin SchwartzSpouse-D Schwartz TrusteeInvestment Management FeesNo$168,092

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$1,511,725
Deferred Compensation Plan 457b$1,247,418
Deferred Gift Annuity Liability$698,034
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Section A, Part VI, Line 2

Board Relationships: A relationship questionnaire is distributed to the Conservancy's Board of Trustees on an annual basis. The following trustees disclosed inter-board relationships during fiscal-year 2015: 1. Mrs. Jane Heller has a business relationship with Ms. Judy Hart Angelo & Mrs. Leni May. 2. Mr. Joe Roby has a business relationship with Ms. Amabel James' husband Tony James. 3. Mrs. Donna Schwartz has a family relationship with one of the Conservancy's portfolio managers, Mr. Marvin Schwartz.

Form 990, Section A, Part VI, Line 11A

Review of Form 990: The Central park conservancy's form 990 was prepared by EisnerAmper, LLP, the independent tax preparer, based on information provided by the organization's finance and management personnel. ON FEBRUARY 10, 2016, EisnerAmper LLP met with the CONSERVANCY'S CHAIRMAN, TREASURER, CHAIRMAN OF THE AUDIT COMMITTEE, Chairman of the Finance Committee, General Counsel and Management tO REVIEW THE FORM 990. SUBSEQUENTLY, THE 990 WAS PROVIDED TO THE BOARD for review prior to filing the return with the IRS.

Form 990, Section B, Part VI, Line 12C

Conflict of Interest Policy: The Central Park Conservancy ratifies the conflict of interest policy annually. Each trustee, officer, and key employee is required to sign a copy of the policy and provide a certified acknowledgement that they have read and disclosed any conflicts. Copies of these signed policies along with trustee disclosures are kept on file at the central park conservancy's offices.

Form 990, Section B, Part VI, Line 15

Compensation: The compensation and management development committee which is comprised of independent members of the governing board engaged independent expert compensation consultants to evaluate executive compensation levels and establish peer group based benchmarks related to the organization's mission. Trustees routinely evaluate management performance and compensation to ensure that the compensation process is appropriate and designed to attract and retain the best talent in the industry. The committee documents compensation determinations in the committee minutes.

Form 990, Section C, Part VI, Line 19

Governing Documents: The by laws, annual reports, audited financial statements, IRS Form 990 documents, conflict of interest policy and privacy policy of the central park conservancy are all available online at www.centralparknyc.org.

Filing and Contact Details

Filer

Filer Name
Central Park Conservancy Inc
EIN
13-3022855
In Care Of
% STEPHEN SPINELLI
Phone
2123106600
Address
14 East 60Th Street, New York, NY 10022

Signing Officer

Name
Stephen Spinelli
Title
Chief Financial Officer
Phone
2123106600
Signed
2016-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mr Douglas Blonsky
Formed
1980
Legal Domicile
Ny
Voting Board Members
48
Independent Board Members
45
Employees
478
Volunteers
902

Preparer

Firm
Eisneramper Llp
Address
750 THIRD AVENUE, NEW YORK, NY 10017-2703
Preparer
212-949-8700
Phone
2129498700
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 and Part III, Line 1

Organization's Mission: The mission of Central Park Conservancy is to restore, manage, and enhance Central Park in partnership with the public. Central Park Conservancy aspires to build a great organization that sets the standard for and spreads the principles of world-class park management - emphasizing environmental excellence - to improve the quality of open space for the enjoyment of all. Central Park Conservancy is committed to sustaining this operating model to provide a legacy for future generations of park users.

Form 990, Part III, Line 4D

Program Services: The Central Park Conservancy Institute for Urban Parks is the educational arm of the Central Park Conservancy. The Institute develops programs designed to foster a deeper appreciation for urban parks and shares the Conservancy's world-class management and stewardship practices. Through the Institute for Urban Parks, the Central Park Conservancy is training and teaching urban park professionals and park stewards, globally. Locally, through the Institute, the Central Park Conservancy is working alongside NYC Parks' and Recreation staff in other parks throughout the five boroughs to share our best practices in park management with them and the volunteers that support them.

Form 990, Part XI, Line 9

Other Changes in net assets: CHANGE IN SPLIT INTEREST ($52,926).

Financial Statement Notes

Schedule D, Part V

ENDOWMENTS: The conservancy endowment funds are available to support the following purposes: Horticulture, Maintenance, Preservation, Visitor Services and Public Programs, and General Programs of the Conservancy.

Schedule D, Part X

Income tax uncertainties: the conservancy follows asu no. 2009-06, implementation guidance on accounting for uncertainty in income taxes and disclosure amendments for nonpublic entities (asu 2009-06), in conjunction with its adoption of financial accounting standards board (fasb) interpretation no. 48, accounting for uncertainty in income taxes (now included in accounting standards codification (asc) subtopic 740-10, income taxes - overall). The conservancy recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the conservancy's exempt purpose is subject to tax. The conservancy did not have any material unrelated business income tax liabilities for the years ending june 30, 2015 and 2014.

Schedule D, Part XI, Line 2D

Other Revenue (Gain): Change in split interest ($52,926).

Schedule D, Part XI and Part XII, Line 4B

Other Expenses: Cost of goods sold included in expenses for financial statement reporting that have been included in revenue for Form 990, Part VIII, Line 10b: $380,675.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$677$55.4$622$200$150$49.9
2023Detailed filing. Detailed filing data is available for this year.$590$51.4$539$148$131$16.8
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$525$20.6$504$148$93.5$54.3
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$502$22.5$480$173$81.3$91.4
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$389$49.6$340$64.7$73.3$8.59
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$389$28.1$361$65.7$77.4$11.7
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$392$15.5$376$68.2$69.3$1.13
2017Detailed filing. Detailed filing data is available for this year.$372$11.2$360$98.1$72.4$25.7
2016Detailed filing. Detailed filing data is available for this year.$331$10.5$320$49.1$68.0$18.9
2015Detailed filing. Detailed filing data is available for this year.$370$11.1$359$68.1$64.4$3.67
2014Detailed filing. Detailed filing data is available for this year.$381$9.10$372$60.1$52.3$7.82
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$339$7.37$332$167$45.3$122
2012Summary only. Only limited summary data is available for this year.$217$6.71$210$47.3$40.3$6.97
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$221$5.69$215$38.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$192$5.11$187$33.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $250M-$1B nonprofits