Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $6,447,170

• 1f · All other contributions, gifts and grants

  $78,061,489

• 1g · Noncash contributions included above

  $1,646,768

• 2a · Program service revenue: PROJECT REVENUE

  total $32,382,989 · related or exempt $32,382,989

• 2b · Program service revenue: CONTRACT REVENUE

  total $7,016,025 · related or exempt $7,016,025

• 2c · Program service revenue: PROGRAM FEES

  total $144,425 · related or exempt $144,425

• 2d · Program service revenue: GARDEN PERMIT FEES

  total $52,595 · related or exempt $52,595

• 3 · Investment income

  total $13,693,043 · excluded $13,693,043

• 5 · Royalties

  total $52,317 · excluded $52,317

• 7a · Gross sales of assets other than inventory

  securities $275,246,255

• 7b · Less cost or other basis and sales expenses

  securities $264,315,844 · other assets $191,834

• 7c · Gain or loss

  securities $10,930,411 · other assets -$191,834

• 7d · Net gain or loss

  total $10,738,577 · excluded $10,738,577

• 8a · Fundraising events: gross income

  $373,600

• 8a · Fundraising events: contributions included on line 1c

  $6,447,170

• 8b · Fundraising events: direct expenses

  $2,192,782

• 8c · Net income from fundraising events

  total -$1,819,182 · excluded -$1,819,182

• 10a · Gross sales of inventory

  $1,349,789

• 10b · Cost of goods sold

  $617,132

• 10c · Net income from sales of inventory

  total $732,657 · excluded $732,657

• 11a · Other revenue: OTHER

  total $535,228 · excluded $535,228

• 11b · Other revenue: DAMAGE REIMBURSEMENT

  total $179,583 · excluded $179,583

• 11c · Other revenue: K-1 PASS-THROUGH LOSSES

  total -$258,728 · unrelated business -$258,728

• 11e · Other revenue, total

  $456,083

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $768,606 · program services $768,606

• 5 · Compensation of officers, directors and key employees

  total $4,898,597 · program services $1,565,219 · management and general $2,696,015 · fundraising $637,363

• 7 · Other salaries and wages

  total $31,264,118 · program services $22,753,773 · management and general $5,064,276 · fundraising $3,446,069

• 8 · Pension plan contributions

  total $2,516,755 · program services $1,435,643 · management and general $836,791 · fundraising $244,321

• 9 · Other employee benefits

  total $4,662,811 · program services $3,303,341 · management and general $732,212 · fundraising $627,258

• 10 · Payroll taxes

  total $2,766,448 · program services $1,860,403 · management and general $593,662 · fundraising $312,383

• 11b · Fees: legal

  total $34,386 · management and general $34,386

• 11c · Fees: accounting

  total $121,000 · management and general $121,000

• 11d · Fees: lobbying

  total $241,890 · management and general $241,890

• 11e · Fees: professional fundraising services

  total $553,055 · fundraising $553,055

• 11f · Fees: investment management

  total $7,609,161 · management and general $7,609,161

• 11g · Fees: other

  total $13,126,995 · program services $8,290,335 · management and general $2,107,164 · fundraising $2,729,496

• 12 · Advertising and promotion

  total $716,612 · program services $109,268 · management and general $562,216 · fundraising $45,128

• 13 · Office expenses

  total $4,923,075 · program services $3,968,006 · management and general $83,902 · fundraising $871,167

• 16 · Occupancy

  total $3,488,384 · program services $2,029,176 · management and general $351,432 · fundraising $1,107,776

• 17 · Travel

  total $79,696 · program services $55,482 · management and general $7,712 · fundraising $16,502

• 19 · Conferences, conventions and meetings

  total $663,982 · program services $259,649 · management and general $382,564 · fundraising $21,769

• 22 · Depreciation, depletion and amortization

  total $1,261,649 · program services $964,101 · management and general $86,730 · fundraising $210,818

• 23 · Insurance

  total $1,068,141 · program services $444,733 · management and general $378,038 · fundraising $245,370

• 24a · Other expenses: CONSTRUCTION & DESIGN

  total $41,990,952 · program services $41,945,024 · management and general $10,935 · fundraising $34,993

• 24b · Other expenses: LANDSCAPE

  total $3,409,444 · program services $3,409,444

• 24c · Other expenses: FIELD SUPPLIES

  total $2,476,857 · program services $1,824,726 · management and general $216,899 · fundraising $435,232

• 24d · Other expenses: FACILITY MAINTENANCE

  total $934,037 · program services $874,620 · management and general $14,147 · fundraising $45,270

• 24e · All other expenses

  total $1,624,130 · program services $889,796 · management and general $259,142 · fundraising $475,192

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,977,057 · end of year $27,909,586

• 2 · Savings and temporary cash investments

  beginning of year $86,927,044 · end of year $63,021,514

• 3 · Pledges and grants receivable

  beginning of year $48,444,745 · end of year $60,292,771

• 4 · Accounts receivable

  beginning of year $10,723,913 · end of year $28,246,262

• 8 · Inventories for sale or use

  beginning of year $198,336 · end of year $257,995

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,110,755 · end of year $2,406,073

• 10a · Land, buildings and equipment: cost or other basis

  $17,622,473

• 10b · Land, buildings and equipment: accumulated depreciation

  $8,789,968

• 10c · Land, buildings and equipment, net

  beginning of year $1,710,073 · end of year $8,832,505

• 11 · Investments: publicly traded securities

  beginning of year $162,404,697 · end of year $132,658,088

• 12 · Investments: other securities

  beginning of year $203,955,297 · end of year $242,091,488

• 15 · Other assets

  beginning of year $4,104,397 · end of year $24,730,353

• 17 · Accounts payable and accrued expenses

  beginning of year $15,371,133 · end of year $18,301,287

• 19 · Deferred revenue

  beginning of year $120,745 · end of year $1,125,670

• 24 · Unsecured notes and loans payable

  beginning of year $137,440 · end of year $0

• 25 · Other liabilities

  beginning of year $4,951,452 · end of year $31,982,633

• 27 · Net assets without donor restrictions

  beginning of year $143,184,580 · end of year $139,987,095

• 28 · Net assets with donor restrictions

  beginning of year $360,790,964 · end of year $399,049,950

The filer's explanations (Part III)

PART I, LINE 3

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 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.

PART I, LINES 4A-B

THE CONSERVANCY PAID SEVERANCE TO ONE EMPLOYEE DURING 2023. THERE IS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN FOR CERTAIN OFFICERS OF THE CONSERVANCY. CONTRIBUTIONS TO THE PLAN MADE BY THE CONSERVANCY DURING CALENDAR YEAR 2023 TOTALED $495,000.

SCHEDULE J, PART I, QUESTION 7

LONG-TERM COMPENSATION PROGRAM: THE CONSERVANCY RECOGNIZES THE INVALUABLE CONTRIBUTION OF ITS CURRENT SENIOR MANAGEMENT TEAM TO ITS ACHIEVEMENTS THUS FAR. IN ORDER TO ENSURE THE RETENTION OF THIS TALENTED TEAM AND TO FOSTER THE ATTRACTION AND DEVELOPMENT OF FUTURE LEADERS, THE ORGANIZATION HAS IMPLEMENTED A COMPREHENSIVE COMPENSATION PROGRAM. THIS PROGRAM IS METICULOUSLY CRAFTED TO: (I) ALIGN REMUNERATION WITH PERFORMANCE METRICS TIED TO THE CONSERVANCY'S STRATEGIC PLAN AND OVERARCHING OBJECTIVES. (II) OFFER A COMPETITIVE COMPENSATION PACKAGE, COMPRISING BASE PAY, BONUSES, AND LONG-TERM INCENTIVES, COMMENSURATE WITH ORGANIZATIONS OF SIMILAR PROFILE. AS SUCH, THE CONSERVANCY'S COMPENSATION FRAMEWORK IS STRUCTURED TO (I) DRIVE AND INCENTIVIZE PRESENT HIGH-PERFORMANCE STANDARDS, (II) ACKNOWLEDGE AND REWARD THE EXPERTISE AND TENURE OF OUR TEAM MEMBERS, AND (III) PROVIDE LONG-TERM INCENTIVES AIMED AT RETAINING KEY MANAGEMENT PERSONNEL

PART VII, LINE 15

CHRISTOPHER ATKINSON, VICE PRESIDENT OF FINANCE, BEGAN HIS EMPLOYMENT WITH CENTRAL PARK CONSERVANCY ON JANUARY 23, 2023. BECAUSE HIS TERM OF EMPLOYMENT DID NOT COMMENCE IN CALENDAR YEAR 2022, HIS COMPENSATION IS NOT REPORTED ON THIS 990. CHRISTOPHER ATKINSON'S 2023 COMPENSATION WILL BE REPORTED ON NEXT YEARS FORM 990.