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Nonprofiteer
← LINCOLN CENTER DEVELOPMENT PROJECT INC

Form 990 for tax year 2022

Filed by LINCOLN CENTER DEVELOPMENT PROJECT INC.

Totals

Total revenue
$104,589,930
Total expenses
$104,505,153
Contributions and grants received
$5,840,192
Grants paid
$0
Program service revenue
$98,749,738
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,742,037
Total liabilities, end of year
$3,662,494
Net assets or fund balances, end of year
$79,543
Program services expenses (Part IX)
$101,833,799
Management and general expenses
$2,671,354
Fundraising expenses
$0
Program service expenses (Part III)
$101,833,799

Program services were 97.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $5,840,192

  • 2a · Program service revenue: PLANNED REDEVELOPMENT

    total $98,749,738 · related or exempt $98,749,738

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $308,927 · management and general $308,927

  • 7 · Other salaries and wages

    total $515,982 · management and general $515,982

  • 8 · Pension plan contributions

    total $81,726 · management and general $81,726

  • 9 · Other employee benefits

    total $94,097 · management and general $94,097

  • 10 · Payroll taxes

    total $182,641 · management and general $182,641

  • 11b · Fees: legal

    total $4,860 · management and general $4,860

  • 11c · Fees: accounting

    total $10,162 · management and general $10,162

  • 11g · Fees: other

    total $426,102 · management and general $426,102

  • 13 · Office expenses

    total $2,504 · management and general $2,504

  • 16 · Occupancy

    total $641,698 · management and general $641,698

  • 17 · Travel

    total $28,154 · management and general $28,154

  • 22 · Depreciation, depletion and amortization

    total $7,366 · management and general $7,366

  • 24a · Other expenses: REDEVELOPMENT PROJECT

    total $101,833,799 · program services $101,833,799

  • 24b · Other expenses: LCPA ADMIN OVERHEAD

    total $367,135 · management and general $367,135

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $164,054 · end of year $709,571

  • 3 · Pledges and grants receivable

    beginning of year $39,326,495 · end of year $2,998,630

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,100 · end of year $26,470

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

    $314,747

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

    $307,381

  • 10c · Land, buildings and equipment, net

    beginning of year $14,732 · end of year $7,366

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,535,615 · end of year $3,662,494

  • 27 · Net assets without donor restrictions

    beginning of year -$5,234 · end of year $79,543

Mission and programs · 2022

Mission

TO IMPLEMENT AND OVERSEE FOR CHARITABLE PURPOSES THE PLANNED REDEVELOPMENT AND TRANSFORMATION OF THE LINCOLN CENTER CAMPUS. SEE SCHEDULE O FOR CONTINUATION.

Activities or mission (Part I)

TO IMPLEMENT AND OVERSEE REDEVELOPMENT OF LINCOLN CENTER CAMPUS. SEE SCH. O.

  • ALL ACTIVITIES OF THE CORPORATION FURTHER THE EXEMPT AND CHARITABLE PURPOSE OF THE CORPORATION BY PROVIDING FINANCIAL, PROFESSIONAL, AND OTHER ASSISTANCE IN ERECTING, RECONSTRUCTING, RENOVATING, MODERNIZING, AND RECONFIGURING BUILDINGS OPEN TO THE PUBLIC FOR PUBLIC EXPOSITIONS AND CULTURAL ACTIVITIES. SEE SCHEDULE O.

    Expenses $101,833,799 · Revenue $98,749,738

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • PHILIP L MILSTEIN

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • KATHERINE FARLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BART FRIEDMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • PETER L MALKIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER FLAMM

    EXECUTIVE DIRECTOR

    Total calculated
    $339,429
    From this org
    $544,672
    From related orgs
    $0
    Other
    -$205,243
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $393,706
    Bonus
    $150,000
    Other
    $966
    Deferred
    -$247,574
    Nontaxable benefits
    $42,331
    Filer's total
    $339,429

  • JAMES O'HARA

    CHIEF OPERATING OFFICER

    Total calculated
    $755,565
    From this org
    $0
    From related orgs
    $723,176
    Other
    $32,389
    Hours/week
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $550,219 related
    Bonus
    $0 + $170,100 related
    Other
    $0 + $2,857 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $32,389 related
    Filer's total
    $0 + $755,565 related

  • LAUREN KLEIN

    EVP, GEN. COUNSEL & CORP SEC.

    Total calculated
    $616,282
    From this org
    $0
    From related orgs
    $581,111
    Other
    $35,171
    Hours/week
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $501,270 related
    Bonus
    $0 + $78,000 related
    Other
    $0 + $1,841 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $35,171 related
    Filer's total
    $0 + $616,282 related

  • WHITNEY BARRAT

    DIRECTOR, PLANNING & ADMINISTRATION

    Total calculated
    $206,626
    From this org
    $166,685
    From related orgs
    $0
    Other
    $39,941
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $166,188
    Bonus
    $0
    Other
    $497
    Deferred
    $0
    Nontaxable benefits
    $39,941
    Filer's total
    $206,626

  • SHREYA GHOSHAL

    DIRECTOR, SPECIAL PROJECTS

    Total calculated
    $146,749
    From this org
    $135,091
    From related orgs
    $0
    Other
    $11,658
    Hours/week
    35

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART III
DISCLOSURE REGARDING PAYROLL ADMINISTRATION LINCOLN CENTER DEVELOPMENT PROJECT INC.'S (LCDP) PAYROLL IS ADMINISTERED BY LINCOLN CENTER FOR THE PERFORMING ARTS INC. (LCPA), A RELATED SECTION 501(C)(3) PUBLIC CHARITY. LCDP REIMBURSES LCPA FOR SALARIES AND BENEFITS OF LCDP EMPLOYEES AND AN ALLOCABLE PORTION OF LCPA EMPLOYEES WORKING ON BEHALF OF LCDP. FORM 990, SCHEDULE J, PART I, LINE 3 LCDP'S EXECUTIVE DIRECTOR IS PARTIALLY PAID BY LCPA, A RELATED ORGANIZATION, WITH COMPENSATION GOVERNED BY A WRITTEN CONTRACT AMENDED BY LCPA IN 2019 TO INCLUDE COMPENSATION RELATED TO SERVICE AS EXECUTIVE DIRECTOR OF LCDP. IN DETERMINING THE EXECUTIVE DIRECTOR'S COMPENSATION RELATED TO LCDP, LCPA REVIEWED COMPENSATION BENCHMARKS FOR PERSONS WITH SIMILAR RESPONSIBILITIES FROM COMPARABLE DEVELOPMENT COMPANIES AND PRIOR WRITTEN LCPA CONTRACTS. THE INDIVIDUALS INVOLVED IN ASSESSING AND DETERMINING COMPENSATION FOR THE EXECUTIVE DIRECTOR DID NOT HAVE A CONFLICT OF INTEREST UNDER LCPA'S OR LCDP'S CONFLICT OF INTEREST POLICY. THE LCDP BOARD ELECTS THE EXECUTIVE DIRECTOR AND APPROVES THE LCDP BUDGET, WHICH INCLUDES A PORTION OF THE EXECUTIVE DIRECTOR'S TOTAL COMPENSATION. THE LCDP BOARD IS INDEPENDENT OF THE EXECUTIVE DIRECTOR.
PART I, LINE 7
EXECUTIVE DIRECTOR PETER FLAMM RECEIVED A DISCRETIONARY, NON-FIXED BONUS PAYMENT TOTALING $150,000 IN CALENDAR YEAR 2022.
FORM 990, SCHEDULE J, PART II, COLUMN (C)
AMOUNTS IN THIS COLUMN INCLUDE CHANGES IN THE PRESENT VALUE OF QUALIFIED DEFINED BENEFIT PENSION PLAN BENEFITS. THE CHANGES IN VALUE CAN BE ATTRIBUTED TO THREE MAIN FACTORS: (1) THE EMPLOYEE AGES BY ONE YEAR; (2) THE EMPLOYEE EARNS AN ADDITIONAL YEAR OF BENEFIT ACCRUAL; AND (3) THE YIELD CURVE CHANGES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349315832

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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