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Nonprofiteer
← MADISON SQUARE PARK CONSERVANCY INC

Form 990 for tax year 2023

Filed by MADISON SQUARE PARK CONSERVANCY INC.

Totals

Total revenue
$5,005,319
Total expenses
$5,325,151
Contributions and grants received
$3,361,793
Grants paid
$0
Program service revenue
$1,260,401
Investment income
$297,892
Other revenue
$85,233
Total assets, end of year
$15,200,530
Total liabilities, end of year
$1,793,124
Net assets or fund balances, end of year
$13,407,406
Program services expenses (Part IX)
$3,850,683
Management and general expenses
$829,395
Fundraising expenses
$645,073
Program service expenses (Part III)
$3,850,683

Program services were 72.3% 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.

  • 1c · Fundraising events

    $682,644

  • 1e · Government grants (contributions)

    $25,000

  • 1f · All other contributions, gifts and grants

    $2,654,149

  • 2a · Program service revenue: PARK ACTIVITY LICENSES

    total $904,401 · related or exempt $904,401

  • 2b · Program service revenue: PARK USUAGE EVENT FEES

    total $320,000 · related or exempt $320,000

  • 2c · Program service revenue: ARTWORK FEES

    total $21,000 · related or exempt $21,000

  • 2d · Program service revenue: OTHER EVENTS

    total $15,000 · related or exempt $15,000

  • 3 · Investment income

    total $273,024 · excluded $273,024

  • 7a · Gross sales of assets other than inventory

    securities $10,827,767

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

    securities $10,802,899

  • 7c · Gain or loss

    securities $24,868

  • 7d · Net gain or loss

    total $24,868 · excluded $24,868

  • 8a · Fundraising events: gross income

    $664,524

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

    $682,644

  • 8b · Fundraising events: direct expenses

    $664,524

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: REIMBURSED EXPENSES

    total $85,233 · related or exempt $85,233

  • 11e · Other revenue, total

    $85,233

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $200,962 · program services $145,715 · management and general $14,805 · fundraising $40,442

  • 7 · Other salaries and wages

    total $2,161,408 · program services $1,567,209 · management and general $159,230 · fundraising $434,969

  • 8 · Pension plan contributions

    total $43,778 · management and general $43,778

  • 9 · Other employee benefits

    total $430,233 · program services $244,949 · management and general $120,510 · fundraising $64,774

  • 10 · Payroll taxes

    total $216,589 · program services $155,381 · management and general $16,686 · fundraising $44,522

  • 11c · Fees: accounting

    total $63,631 · management and general $63,631

  • 11f · Fees: investment management

    total $54,107 · management and general $54,107

  • 11g · Fees: other

    total $444,463 · program services $285,051 · management and general $132,049 · fundraising $27,363

  • 13 · Office expenses

    total $49,265 · program services $29,122 · management and general $20,143

  • 17 · Travel

    total $47,832 · program services $41,975 · management and general $3,418 · fundraising $2,439

  • 20 · Interest

    total $29,496 · program services $29,496

  • 22 · Depreciation, depletion and amortization

    total $88,027 · management and general $88,027

  • 23 · Insurance

    total $42,430 · program services $17,176 · management and general $25,254

  • 24a · Other expenses: EXHIBITION INSTALLATION

    total $842,260 · program services $842,260

  • 24b · Other expenses: PRINTING AND DESIGN

    total $182,066 · program services $160,330 · management and general $13,071 · fundraising $8,665

  • 24c · Other expenses: REPAIRS, MAINTENANCE AN

    total $175,828 · program services $126,289 · management and general $37,633 · fundraising $11,906

  • 24d · Other expenses: SUPPLIES

    total $159,080 · program services $147,746 · management and general $8,498 · fundraising $2,836

  • 24e · All other expenses

    total $93,696 · program services $57,984 · management and general $28,555 · fundraising $7,157

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $410,491 · end of year $433,728

  • 2 · Savings and temporary cash investments

    beginning of year $2,202,314

  • 3 · Pledges and grants receivable

    beginning of year $796,109 · end of year $418,942

  • 4 · Accounts receivable

    beginning of year $13,531 · end of year $13,531

  • 9 · Prepaid expenses and deferred charges

    beginning of year $512,589 · end of year $491,379

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

    $771,481

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

    $556,779

  • 10c · Land, buildings and equipment, net

    beginning of year $214,027 · end of year $214,702

  • 11 · Investments: publicly traded securities

    beginning of year $9,725,268 · end of year $13,628,248

  • 12 · Investments: other securities

    beginning of year $315,574

  • 17 · Accounts payable and accrued expenses

    beginning of year $427,835 · end of year $279,897

  • 19 · Deferred revenue

    beginning of year $77,463 · end of year $1,177,867

  • 23 · Secured mortgages and notes payable

    beginning of year $652,000 · end of year $335,360

  • 25 · Other liabilities

    beginning of year $187,314 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,404,949 · end of year $1,563,998

  • 28 · Net assets with donor restrictions

    beginning of year $11,440,342 · end of year $11,843,408

Mission and programs · 2023

Mission

MADISON SQUARE PARK CONSERVANCY, INC. ("MSPC", OR THE ORGANIZATION") IS THE NONPROFIT ORGANIZATION RESPONSIBLE FOR RAISING 100% OF THE FUNDS NEEDED TO OPERATE AND PROGRAM MADISON SQUARE PARK ON BEHALF OF THE CITY OF NEW YORK. MSPC BELIEVES THAT EVERYONE DESERVES ACCESS TO A PARK THAT ALLOWS RECREATION, RESPITE, AND REFLECTION. AS STEWARDS, WE STRIVE TO ENGAGE VISITORS THROUGH VISIONARY CONTEMPORARY ART, BEAUTIFUL GARDENS, INVITING AMENITIES, AND THOUGHT-PROVOKING PROGRAMMING.

Activities or mission (Part I)

DEDICATED TO KEEPING HISTORIC MADISON SQUARE PARK A BRIGHT, BEAUTIFUL AND ACTIVE PUBLIC PARK.

  • THE MADISON SQUARE PARK CONSERVANCY RAISES THE FUNDS THAT SUPPORT THE HORTICULTURE, PARK MAINTENANCE, PARK SECURITY AND A VARIETY OF FREE CULTURAL PROGRAMS FOR ALL AGES. THE CONSERVANCY FUNDS APPROXIMATELY 98% OF THE COST OF PARK MAINTENANCE AND 100% OF THE COST OF SECURITY AND CULTURAL PROGRAMS. APPROXIMATELY 60,000 PEDESTRIANS FLOW THROUGH MADISON SQUARE PARK ON A GIVEN WEEKDAY.OUR MISSION IS TO PROTECT, NURTURE, AND ENHANCE MADISON SQUARE PARK, A DYNAMIC SEVEN-ACRE PUBLIC GREEN SPACE, CREATING AN ENVIRONMENT THAT FOSTERS MOMENTS OF INSPIRATION. AS STEWARDS, WE STRIVE TO ENGAGE THE COMMUNITY THROUGH OUR BEAUTIFUL GARDENS, INVITING AMENITIES, AND WORLD-CLASS PROGRAMMING. WE BELIEVE THAT IN AN URBAN SETTING EVERYONE DESERVES ACCESS TO A PARK THAT ALLOWS FOR RECREATION, RESPITE, AND REFLECTION.

    Expenses $1,848,483 · Revenue $1,324,634

  • PUBLIC ART HAS THE ABILITY TO ENRICH, TO FASCINATE, AND TO ASTONISH. SINCE 2004, THE MAD. SQ. ART PROGRAM HAS BEEN PARTNERING WITH ACCLAIMED, VISIONARY ARTISTS TO REALIZE OUTDOOR WORK ON A MONUMENTALSCALE, WORK THAT COMPLEMENTS AND ENHANCES THE ENVIRONMENT. THESE PROJECTS ARE FREE TO THE PUBLIC AND HAVE MADE MADISON SQUARE PARK A WORLD-RENOWNED CULTURAL DESTINATION. IN 2022, THE CONSERVANCY FEATUREDEXHIBITIONS BY CHRISTINA IGLESIAS AND HUGH HAYDEN WITH ON-SITE AND VIRTUAL PROGRAMMING.

    Expenses $1,782,049 · Revenue $21,000

  • PARK CAPITAL IMPROVEMENTS:MADISON SQUARE PARK STARTED THE CAMPAIGN FOR MADISON SQUARE PARK IN 2017 AND WILL SUPPORT PARK IMPROVEMENT AND TREE FUND. SINCE ITS RESTORATION 20 YEARS AGO, OUR JEWEL OF A PARK HAS BECOME A WELCOME RESPITE AND VIBRANT INSPIRATION FOR MORE THAN 3.5 MILLION VISITORS EACH YEAR - BUT ITS POPULARITY ALSO DRAINS RESOURCES AND STRAINS INFRASTRUCTURE. MOUNTING OPERATIONAL CHALLENGES INCLUDE GARBAGE, RECYCLING, AND PEST MANAGEMENT. UNSIGHTLY DETERIORATION OF AGING HARDSCAPE (PAVERS AND CURBSTONES), FENCING, AND MONUMENTS IS THE RESULT OF DECADES OF WEAR AND TEAR FROM FOOTSTEPS AND WEATHER. INSUFFICIENT ELECTRICAL SUPPLY CREATES LOGISTICAL CHALLENGES AND INCONVENIENCES FORUSERS. THE DOG RUN IS NOT EQUIPPED TO HANDLE THE ENTHUSIASM, WASTE, AND VARIANCE IN SIZES OF ITS CANINE FANS. FINALLY, ONE-THIRD OF THE PARK'S TREES WILL REACH THE END OF THEIR NATURAL LIVES WITHIN THE NEXT 20 YEARS, MAKING SUCCESSION PLANNING AN URGENT NEED.

    Expenses $90,863

  • SUSTAINABILITY:SETTING NEW STANDARDS FOR SUSTAINABILITY IS ESSENTIAL FOR OUR PARK AND OUR PLANET. WE SEE THE EFFECTS OF CLIMATE CHANGE EVERY DAY IN OUR PARK. WE ARE COMMITTED TO BECOMING LEADERS IN SUSTAINABLE PRACTICES. OUR GOAL IS TO REDUCE CARBON EMISSIONS, PROTECT THE PARK'S DELICATE ECOSYSTEM, AND INSPIRE INNOVATION THAT EXTENDS BEYOND OUR BORDERS.

    Expenses $129,288

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Barry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sasha Bass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heg Chung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sheila Kearney Davidson

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Jessica Distelburger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Erica Desai

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephen Fuld

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bastian Germer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurie Golub

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jordana Grunfeld

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Hirsh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Simon Kim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert T Lapidus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Leslie Spira Lopez

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • William Lukashok

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Neil Luthra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Meadow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Danny Meyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael L Kahn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sean Maclsaac

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sarah Stein-Sapir

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Hilary Spann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Catherine So

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Teti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anthony Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Holly Leicht-Weinstein

    EXECUTIVE DIRECTOR

    Total calculated
    $203,128
    From this org
    $200,962
    From related orgs
    $0
    Other
    $2,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,962
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $2,166
    Filer's total
    $203,128

  • Brooke Kamin Rapaport

    DIRECTOR AND MARTIN FRIEDMAN SENIOR CURATOR

    Total calculated
    $212,661
    From this org
    $178,200
    From related orgs
    $0
    Other
    $34,461
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,200
    Bonus
    $0
    Other
    $0
    Deferred
    $7,128
    Nontaxable benefits
    $27,333
    Filer's total
    $212,661

  • Nicole Rivers

    DIRECTOR OF ADVANCEMENT

    Total calculated
    $159,539
    From this org
    $126,360
    From related orgs
    $0
    Other
    $33,179
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,360
    Bonus
    $0
    Other
    $0
    Deferred
    $5,054
    Nontaxable benefits
    $28,125
    Filer's total
    $159,539

  • Stephanie Lucas

    DIRECTOR OF HORTICULTURE AND OPERATIONS

    Total calculated
    $171,360
    From this org
    $145,800
    From related orgs
    $0
    Other
    $25,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,800
    Bonus
    $0
    Other
    $0
    Deferred
    $5,832
    Nontaxable benefits
    $19,728
    Filer's total
    $171,360

  • Thomas Reidy

    DIRECTOR OF ART OPERATIONS

    Total calculated
    $143,108
    From this org
    $137,604
    From related orgs
    $0
    Other
    $5,504
    Hours/week
    40

  • Rosina Roa

    DIRECTOR OF FINANCE AND HUMAN RESOURCES

    Total calculated
    $134,622
    From this org
    $108,000
    From related orgs
    $0
    Other
    $26,622
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 September 2024
IRS schema version
2023v5.1
Source object
202432699349301458

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