2025-04-08T10:31:19-05:00 2024-06-30 873707167 CBIZ ADVISORS LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2023-07-01 272683349 GOVERNORS ISLAND CORPORATION GOVE 2124402200 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 CLARE NEWMAN PRESIDENT 2124402200 2025-03-31 1 1 MAGDALENA CZERNIAWSKI P00535099 2125038800 2025-03-31 2023 2025-03-06 01:10:19Z THE TRUST FOR GOVERNORS ISLAND CLARE NEWMAN 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 66092062 0 X WWW.GOVISLAND.ORG X 2010 NY THE TRUST FOR GOVERNORS ISLAND (THE "TRUST OR "TGI") IS A NONPROFIT CORPORATION CREATED BY THE CITY OF NEW YORK CHARGED WITH THE PLANNING, REDEVELOPMENT AND ONGOING OPERATIONS OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO REALIZE THE FULL POTENTIAL OF GOVERNORS ISLAND FOR THE INSPIRATION AND ENJOYMENT OF ALL NEW YORKERS, DEMONSTRATING A BOLD VISION FOR PUBLIC SPACE. 17 17 108 17 0 0 56210899 56349918 8749913 8591618 195535 268203 50182 882323 65206529 66092062 0 0 0 0 9399560 9616480 0 0 60678 44735809 47880116 54135369 57496596 11071160 8595466 379526191 385935347 55604329 53263163 323921862 332672184 X THE GOVERNORS ISLAND CORPORATION, DOING BUSINESS AS THE TRUST FOR GOVERNORS ISLAND, IS THE 501(C)(3) NOT-FOR-PROFIT ORGANIZATION CREATED BY THE CITY OF NEW YORK AND CHARGED WITH THE PLANNING, REDEVELOPMENT AND ONGOING OPERATIONS OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO REALIZE THE FULL POTENTIAL OF GOVERNORS ISLAND FOR THE INSPIRATION AND ENJOYMENT OF ALL NEW YORKERS, DEMONSTRATING A BOLD VISION FOR PUBLIC SPACE. 0 0 49214528 9473941 THE TRUST IS RESPONSIBLE FOR THE OPERATION, PLANNING AND REDEVELOPMENT OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST PROVIDES FERRY, SECURITY AND MAINTENANCE SERVICES FOR THE ISLAND, ITS VISITORS AND TENANTS, AS WELL AS THE URBAN ASSEMBLY HARBOR SCHOOL LOCATED ON THE ISLAND. AS OF FY 2023, GOVERNORS ISLAND IS OPEN TO THE PUBLIC YEAR ROUND, AND EVERY SEASON VISITORS MAY EXPERIENCE AN ARRAY OF ARTS, CULTURAL AND RECREATIONAL PROGRAMS, AS WELL AS FOOD AND BEVERAGES ON OFFER FROM ISLAND VENDORS. THROUGH AN INITIAL CAPITAL IMPROVEMENT PROGRAM, THE TRUST BUILT 30 ACRES OF NEW PARK SPACE, WHICH OPENED IN 2014, FOLLOWED BY AN EXPANSION IN 2016, WHEN THE HILLS WERE OPENED. ADDITIONAL CAPITAL INVESTMENTS, COMPLETED AND ONGOING, INCLUDE WORK ON THE FERRY INFRASTRUCTURE (DOCKS AND VESSELS), SEAWALL, ELECTRICAL SYSTEM, POTABLE WATER AND OTHER UTILITY SYSTEMS, AS WELL AS NUMEROUS HISTORIC BUILDING STABILIZATION AND RENOVATION PROJECTS. THE NEXT MAJOR PHASE OF DEVELOPMENT INVOLVES THE CREATION OF A CENTER FOR CLIMATE RESEARCH ON THE ISLAND, A PUBLIC-PRIVATE PROJECT THAT INCLUDES ACADEMIC, RESEARCH AND OTHER PARTNERS. 49214528 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 43 0 1 108 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X WILLA PADGETT - CHIEF FINANCIAL OFF 2124402227 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 ALICE BLANK BOARD MEMBER 1.00 X 0 0 0 ALICIA GLEN CHAIR 1.00 X X 0 0 0 BENJAMIN LAWSKY BOARD MEMBER 1.00 X 0 0 0 CARL WEISBROD BOARD MEMBER 1.00 X 0 0 0 CAROLEE FINK BOARD MEMBER 1.00 X 0 0 0 CHRISTIAN BRANEON BOARD MEMBER 1.00 X 0 0 0 DANIEL NEIDICH BOARD MEMBER 1.00 X 0 0 0 DANIEL SQUADRON BOARD MEMBER 1.00 X 0 0 0 GAURAV KAPADIA BOARD MEMBER 1.00 X 0 0 0 JAMES KELLY MCGOWAN BOARD MEMBER 1.00 X 0 0 0 KAREN HOPKINS BOARD MEMBER 1.00 X 0 0 0 MARC NORMAN BOARD MEMBER 1.00 X 0 0 0 MATTHEW WASHINGTON BOARD MEMBER (OUTGOING) 1.00 X 0 0 0 MICHAEL OPPENHEIMER BOARD MEMBER 1.00 X 0 0 0 PATRICK KENNELL BOARD MEMBER (OUTGOING) 1.00 X 0 0 0 SUSAN MERCANDETTI BOARD MEMBER 1.00 X 0 0 0 TIM CAWLEY BOARD MEMBER 1.00 X 0 0 0 TOKUMBO SHOBOWALE BOARD MEMBER 1.00 X 0 0 0 WENDY BRAWER BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER TEPPER CHIEF DEVELOPMENT OFFICER 35.00 X 227048 0 63483 CLARE NEWMAN PRESIDENT/CEO 35.00 X 249360 0 84106 DANIEL HANTMAN GENERAL COUSEL 35.00 X 198402 0 47082 JENNIFER RENTAS COO (STARTED 2024) 35.00 X 0 0 0 WILLA PADGETT CFO 35.00 X 201135 0 28589 ALEXANDER BRADY DIRECTOR, REAL ESTATE 35.00 X 160430 0 36456 JENNY STALEY VP OPERATIONS (OUTGOING) 35.00 X 166430 0 74974 ROGER KENNEDY CHIEF ENGINEER 35.00 X 186673 0 89 SARAH KRAUTHEIM VP, PUBLIC AFFAIRS 35.00 X 169819 0 40406 WILLIAM JOHNSON SENIOR DIRECTOR 35.00 X 162433 0 26303 1721730 0 401488 21 0 1 0 CONRAD SHIPYARD LLC 1501 FRONT STREET MAGAN CITY LA 70380 BUILDING THE NEW VEHICLE FERRY 19817133 LIRO GROUP 10 SOUTH STREET NEW YORK NY 10004 CONSTRUCTION MANAGEMENT 17036198 ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON STREET CONSHOHOCKEN PA 19428 SECURITY SERVICES 2007240 ELLIOTT BAY DESIGN GROUP 5305 SHILDHOLE AVENUE NW SUITE 100 SEATTLE WA 98107 FERRY CONSTRUCTION 860719 RISA HELLER COMMUNICATIONS 233 BROADWAY 2160 NEW YORK NY 10279 PUBLIC AFFAIRS CONSULTANTS 155500 5 54030853 2319065 49177 56349918 PERMITS AND OTHER FEES 531390 4957982 4957982 LEASES 531390 2035510 2035510 RENTAL INCOME 531390 1598126 1598126 8591618 268203 268203 OTHER INCOME 900099 863558 863558 TELECOM REIMBURSEMENT 900099 18765 18765 882323 66092062 9473941 0 268203 X 1192475 1038699 119248 34528 5584859 5009473 558486 16900 397533 364029 33504 1410140 1282440 124449 3251 1031473 933782 91692 5999 187652 187652 45535 45535 19291669 19090326 201343 99857 99857 116346 116346 182348 182348 1102428 996384 106044 39389 39389 24931601 19945281 4986320 190551 171496 19055 BAD DEBT EXPENSE 640502 640502 ART WORK SUPPLIES 374537 337083 37454 PROPERTY MANAGEMENT/LEA 346737 346737 PROGRAMMING 135183 135183 195781 195781 57496596 49214528 8221390 60678 170 170 5217219 3398488 5303152 6876398 1121427 1193856 38731643 39193300 94085 102960 519020851 200282675 314327197 318738176 6183311 7177313 8547987 9254686 379526191 385935347 13910710 12419654 1491881 1467820 40201738 39375689 55604329 53263163 X 0 0 314327197 318738176 9594665 13934008 323921862 332672184 379526191 385935347 8595466 154856 0 X X 0 1 X 1 1 1 X 25556172 26602210 37685556 56210899 56349918 202404755 25556172 26602210 37685556 56210899 56349918 202404755 202404755 41781 28211 72486 195535 268203 606216 27507 49747 60818 50182 882323 1070577 204081548 31382577 0.99180 0.98780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 485. 2020 AMOUNT: $ 6,687. 2021 AMOUNT: $ 13,129. 2022 AMOUNT: $ 12,633. 2023 AMOUNT: $ 863,558. TELECOM REIMBURSEMENT - 2019 AMOUNT: $ 19,916. 2020 AMOUNT: $ 43,060. 2021 AMOUNT: $ 47,689. 2022 AMOUNT: $ 37,549. 2023 AMOUNT: $ 18,765. SALES TAX REIMBURSEMENT - 2019 AMOUNT: $ 7,106. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45535 45535 57451061 57496596 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 101860 17375 22500 45535 187270 250000 250000 250000 250000 1000000 1500000 PART II-B, LINE 1, LOBBYING ACTIVITIES: THE LOBBYING EFFORTS ARE ASSOCIATED WITH COMMUNICATING THE TRUST'S MISSION AND PLANS FOR GROWTH TO LOCAL, STATE AND FEDERAL OFFICIALS AND ADVOCATING FOR CAPITAL PROJECT FUNDING FROM GOVERNMENT SOURCES. 1 1 22635656 14046425 8589231 496385194 186236250 310148944 318738176 SECURITY DEPOSITS 5570988 LEASE 33804701 39375689 66246918 154856 154856 66092062 0 66092062 57496596 0 57496596 0 57496596 X X 1 0 0 0 0 0 0 0 0 CLARE NEWMAN PRESIDENT/CEO 248868 0 0 0 492 0 33120 0 50986 0 333466 0 0 0 CHRISTOPHER TEPPER CHIEF DEVELOPMENT OFFICER 226616 0 0 0 432 0 29686 0 33797 0 290531 0 0 0 DANIEL HANTMAN GENERAL COUSEL 197964 0 0 0 438 0 10320 0 36762 0 245484 0 0 0 JENNY STALEY VP OPERATIONS (OUTGOING) 166132 0 0 0 298 0 23988 0 50986 0 241404 0 0 0 WILLA PADGETT CFO 198933 0 0 0 2202 0 28278 0 311 0 229724 0 0 0 SARAH KRAUTHEIM VP, PUBLIC AFFAIRS 169592 0 0 0 227 0 23988 0 16418 0 210225 0 0 0 ALEXANDER BRADY DIRECTOR, REAL ESTATE 160137 0 0 0 293 0 20038 0 16418 0 196886 0 0 0 WILLIAM JOHNSON SENIOR DIRECTOR 161298 0 0 0 1135 0 22583 0 3720 0 188736 0 0 0 ROGER KENNEDY CHIEF ENGINEER 186673 0 0 0 0 0 0 0 89 0 186762 0 0 0 PART I, LINE 4A JENNY STALEY RECEIVED SEVERANCE PAYMENT OF $40,170 DURING CALENDAR 2024. THEREFORE THIS AMOUNT IS NOT INCLUDED IN PART VII OR SCHEDULE J PART II. X PARK EQUIPMENT 1 49177 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMB (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS THREE (3) MEMBERS, BEING THE INDIVIDUAL HOLDING THE OFFICE OF MAYOR ("MAYOR") OF THE CITY OF NEW YORK (THE "CITY"), THE INDIVIDUAL HOLDING THE OFFICE OF FIRST DEPUTY MAYOR OF THE CITY (OR ITS SUCCESSOR OFFICE), AND THE INDIVIDUAL HOLDING THE OFFICE OF DEPUTY MAYOR OF HOUSING AND ECONOMIC DEVELOPMENT OF THE CITY (OR ITS SUCCESSOR OFFICE), OR EACH SUCH INDIVIDUAL'S AUTHORIZED DELEGATE. ANY SUCH DELEGATION MUST BE MADE IN WRITING AND FILED WITH THE RECORDS OF THE CORPORATION. THE MEMBERS, AS OFFICIALS OF THE CITY, SERVE AS MEMBERS IN FURTHERANCE OF THE INTERESTS OF THE CITY FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS, UPON A MAJORITY VOTE, SHALL BE ENTITLED TO APPOINT SEVENTEEN (17) DIRECTORS OF THE CORPORATION, AS SET FORTH BELOW: (I) TEN DIRECTORS, APPOINTED BY THE MEMBERS IN THEIR CAPACITIES AS OFFICIALS OF THE CITY; (II) ONE DIRECTOR WHO SHALL RESIDE IN BROOKLYN, APPOINTED BY THE MEMBERS IN THEIR CAPACITIES AS OFFICIALS OF THE CITY; (III) ONE DIRECTOR UPON THE NOMINATION OF THE STATE ASSEMBLY MEMBER, 64TH DISTRICT, OR ANY SUCCESSOR DISTRICT THAT INCLUDES GOVERNORS ISLAND; (IV) ONE DIRECTOR UPON THE NOMINATION OF THE STATE SENATOR, 25TH DISTRICT, OR ANY SUCCESSOR DISTRICT THAT INCLUDES GOVERNORS ISLAND; (V) ONE DIRECTOR UPON THE NOMINATION OF THE CHAIR OF MANHATTAN COMMUNITY BOARD 1, OR ANY SUCCESSOR COMMUNITY BOARD THAT INCLUDES GOVERNORS ISLAND; (VI) ONE DIRECTOR UPON THE NOMINATION OF THE GOVERNOR OF THE STATE OF NEW YORK; (VII) ONE DIRECTOR UPON THE NOMIATION OF THE CITY COUNCIL MEMBER FOR DISTRICT 1, OR ANY SUCCESSOR DISTRICT THAT INCLUDES GOVERNORS ISLAND; AND (VIII) ONE DIRECTOR UPON THE NOMINATION OF THE MANHATTAN BOUROUGH PRESIDENT, OR ANY SUCCESSOR BOROUGH THAT INCLUDES GOVERNORS ISLAND. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MAY TAKE ACTION, INCLUDING FOR THE APPOINTMENT OF DIRECTORS, BY WRITTEN CONSENT, WAIVING ANY NOTICE AND OTHER REQUIREMENTS UNDER THESE BY-LAWS AND THE NOT-FOR-PROFIT CORPORATION LAW. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED IN DETAIL BY TGI'S AUDIT COMMITTEE PRIOR TO FILING THE FORM. ONCE REVIEWED BY THE COMMITTEE, THE FORM 990 IS DISTRIBUTED TO THE FULL BOARD (VIA E-MAIL) FOR ITS REVIEW AND COMMENT, ALSO PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TGI MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY IN PART THROUGH COMPLIANCE WITH NEW YORK CITY CONFLICT OF INTEREST BOARD ("COIB") REQUIREMENTS. TGI EMPLOYEES WHO MEET THE CRITERIA MUST FILE ANNUAL COIB FORMS; MEMBERS OF TGI'S BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLY WITH COIB AND TO FILE ANNUAL COIB FORMS OR EQUIVALENT NEW YORK STATE FORMS. OFFICERS OF THE CORPORATION ARE SUBJECT TO THE RESTRICTIONS SET FORTH IN CHAPTER 68 OF THE CITY CHARTER, WHICH IS THE CITY'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE SENIOR MANAGEMENT OF THE GOVERNORS ISLAND CORPORATION D/B/A THE TRUST FOR GOVERNORS ISLAND ("THE TRUST") INCLUDES THE PRESIDENT, CHIEF DEVELOPMENT OFFICER, CHIEF FINANCIAL OFFICER, AND GENERAL COUNSEL. THE SALARY OF THE PRESIDENT SHALL BE DETERMINED CONSIDERING COMPENSATION AT OTHER COMPARABLE ORGANIZATIONS IN NEW YORK CITY AS WELL AS FACTORS SUCH AS SKILL, EXPERIENCE, PAST PERFORMANCE, SCOPE OF RESPONSIBILITIES, AND WORK HISTORY. THE SALARY OF OTHER SENIOR MANAGEMENT STAFF SHALL BE DETERMINED BY THE PRESIDENT, CONSIDERING FACTORS SUCH AS EMPLOYEE SKILL, EXPERIENCE, PAST PERFORMANCE, WORK HISTORY AND POSITION. THE POLICIES REGARDING OTHER COMPENSATION (INCLUDING PENSION), TRAVEL, REIMBURSEMENT, TIME AND ATTENDANCE OF SENIOR MANAGEMENT SHALL BE SUBSTANTIALLY SIMILAR TO THE POLICIES OF THE NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION, AVAILABLE TO ALL EMPLOYEES OF THE TRUST. FORM 990, PART VI, SECTION C, LINE 19 TGI'S CERTIFICATE OF INCORPORATION, BY-LAWS, AUDITED FINANCIAL STATEMENTS AND CODE OF ETHICS (WHICH COVERS CONFLICTS OF INTEREST) ARE POSTED ON ITS WEBSITE. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 19,090,326. MANAGEMENT AND GENERAL EXPENSES 201,343. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,291,669. FORM 990, PART XII, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR HAS NOT CHANGED FROM THE PRIOR YEAR.