City Parks Foundation Inc.

“Jean troubh and john troubh have a family relationship.”

“Prior to filing the form 990, the return is made available to the cpf board of trustees for their review and approval. Any comments, changes or recommendations by individual board members are evaluated by the audit committee.”

“Conflict of interest statements are completed by cpf board members annually. If a trustee acknowledges a conflict or potential conflict, the executive committee will review and evaluate the situation and act accordingly.”

“Cpf determines the compensation of its executive and senior officers based upon comparisons to published rates at similar organizations. Key board members help determine and approve the appropriate pay levels.”

“Public documents, such as the organization's form 990, are open for public inspection. Certain governing documents, the cpf conflict of interest policy and financial statements are made available to the public upon request.”

“The process of overseeing the audit and selection of the independent accountant has not changed from the prior year.”

“Cpf receives earned income primarily from six sources: 1) income from producing concerts and other events for third parties at the summerstage site; 2) box office revenues from marionette theater shows in the swedish cottage at central park; 3) income from children's birthday parties and other events in the swedish cottage; 4) fees earned from the administration of fiscal sponsor accounts for various parks groups and nys parks department programs/funds; 5) fees from providing educational programming for schools and community groups; and 6) concession revenue from the sales of food and beverages at summerstage. Such revenues promote specific events and programs sponsored by cpf and help to further the purpose of cpf. Revenue from benefit concerts represents costs of events paid to cpf by promoters of events held at the summerstage site. Summerstage is an arts program of cpf in cooperation with the nyc department of parks and recreation.”

“Capital projects: during the nine-month period ended december 31, 2016, cpf began planning for the renovation of the summerstage venue at rumsey playfield in central park. Capital funding was secured from the nyc council and the manhattan borough president to procure various elements of the renovation, which included a new stage with roof structure and sound system. For the design and construction management aspects of the project, funding from private sources have been raised to cover these soft costs and ancillary items. The renovation is expected to be completed in time for the 2019 summerstage season and the total estimated cost to complete the project is approximately $5 million.”

“Consultant and professional fees: program service expenses 3,526,198. Management and general expenses 45,420. Fundraising expenses 140,622. Total expenses 3,712,240.”