New York Landmarks Conservancy Inc.

“Authority is delegated by the board of directors to the president of the conservancy to accept preservation easements on buildings, structures and land (hereinafter, the "historic property or "historic properties") that meet acceptance criteria or have special significance in relation to any of the criteria. Before the conservancy's acceptance, the prospective donor must meet certain criteria. Established stewardship contribution criteria are then used to defray direct costs and assist in the general administration of the easements. Easement visual inspections will be done annually by conservancy staff and, if designated in the easement deed, the conservancy periodically will contract on a fee-basis to perform a formal inspection of the property. If deterioration of the property is observed the conservancy will then follow certain detailed procedures seeking to remedy the deterioration. The conservancy will enforce and administer preservation easements as written. The conservancy may, in certain instances, approve requests from property owners to amend easements. The conservancy may initiate an amendment only under certain standards. These policies are reflected in the easement documents.”

“The organization does not report its conservation easements on its balance sheet. When easements were contributed to the organization in prior years, they were recorded as contribution revenue. Annual expenses related to the monitoring of easements and related activities are reported in the organization's statement of activities and statement of functional expenses.”

“The conservancy maintains a donated art collection that is not recognized as an asset on the statement of financial position. The collection has been appraised at $400,000.”

“The conservancy is dedicated to preserving, revitalizing and reusing new york's architecturally significant buildings along with preserving other culturally significant artwork collections. The collection includes: sculpture of bronze metal rods suspended from ceiling by stainless steel, by richard lippold, 1959. The art is installed at the grill restaurant in new york city.”

“The conservancy maintains cash and cash equivalents for the queens historic properties fund in connection with transactions in which the organization acts as an agent. At december 31, 2023, the conservancy held $64,623 for the queens historic properties fund.”

“The conservancy maintains various donor-restricted and board-designated funds whose purpose is to provide long term support for its charitable programs.”

“The organization recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Management has determined that the organization had no uncertain tax positions that would require financial statement recognition or disclosure. The organization is no longer subject to examinations by the applicable taxing jurisdictions for periods prior to 2020.”

“Management fee income netted with expenses on financial statements 372,103.”

“Management fee income netted with expenses on financial statements 372,103. Recapture of grants netted against expense 20,000.”