Central Park Conservancy Inc.

“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 2022: 1. Mrs. Jane heller has a business relationship with ms. Judy hart angelo and mrs. Leni may. 2. Mr. Joe roby has a business relationship with hamilton james, husband of board member amabel james. 3. Mr. Jeff blau has a business relationship with dr. Angela diaz, jonathan korngold, robert c. Lieber, nelle p. Miller, eric rudin, jeff tarr, jr., e. John rosenwald, jr., and henry r. Kravis. Mr. Jeff blau's firm is a member of wollman park partners llc. 4. Ms. Nanar yoseloff's husband, anthony yoseloff, has a business relationship with thomas l. Kempner, jr.”

“Review of form 990: on april 19, 2023, eisner advisory group llc, met with the conservancy's chair, treasurer, secretary and general counsel, chair of the audit committee, and management to review the form 990. The central park conservancy's form 990 was prepared by eisner advisory group llc, the independent tax preparer, based on information provided by the organization's finance and management personnel. Subsequently, the 990 was provided to the board for review prior to filing the return with the irs.”

“Conflict-of-interest, related party transaction and ethics 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.”

“Compensation: the compensation and management development group of the executive 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's performance and compensation to ensure that the compensation process is appropriate and designed to attract and retain the best talent in the industry. The group documents compensation determinations in its meeting minutes.”

“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.”

“Organization's mission: the central park conservancy oversees all aspects of the care, maintenance and restoration of new york's most iconic public space, central park. This work allows the park's 843-acres to serve as a source of respite and relaxation, impacting the physical and mental well-being of city residents, and all of the 40-million people who visit the park each year. The mission of the central park conservancy is to preserve and celebrate central park as a sanctuary from the pace and pressure of city life, enhancing the enjoyment and wellbeing of all. Our guiding principle is that central park is a masterpiece of landscape architecture created to provide a profoundly democratic space and green respite for the city and all its people and to establish new york as one of the great cities of the world. The conservancy honors its commitment to this iconic public space by applying its deep expertise in urban park management; by partnering with the community and the city of new york; and by marshalling all of the resources necessary for the park's long-term care. The conservancy's work is founded on the belief that citizen leadership and private philanthropy are key to ensuring that the park and its essential purpose endure. Harlem meer center: in february 2019, the conservancy entered into pledge agreements with four donors to provide $100 million (collectively) in funding to be paid over a five-year period for the construction, operation and management of a new pool and ice rink. The pledge agreements contained provisions that the conservancy viewed as conditional promises. Pledge payments received prior to meeting conditional promises were recorded as deferred revenue. In fiscal-year 2021, the conservancy met the donor-imposed conditions to fully recognize pledged contributions in accordance with generally accepted accounting principles. As of june 30, 2022, $21.4 million of contributions receivable were remaining to be collected from donors.”

“Other fees: program service expenses 6,140,862. Management and general expenses 1,810,905. Fundraising expenses 1,753,504. Total expenses 9,705,271.”

“Change in value of split-interest agreements -66,248.”

“Form 990, part x, line 24: on april 10, 2020, the conservancy received loan proceeds in the amount of $5.3 million under the paycheck protection program ("ppp"). The ppp, established as part of the coronavirus aid, relief and economic security act ("cares act"), provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The conservancy used the proceeds for qualifying payroll costs consistent with the ppp guidance. In august 2021, the conservancy's payroll protection program (ppp) loan of $5.3 million related interest of $67,000 were fully authorized for forgiveness by the small business administration (the "sba"). In august 2022, the conservancy recognized a total of $5.4 million of sba loan forgiveness as extinguishment of debt.”