2024-11-15T16:24:42-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 113299408 FRIENDS OF THE NEW YORK TRANSIT MUSEUM FRIE 7186943958 130 LIVINGSTON STREET 10TH FLOOR BROOKLYN NY 11201 CONCETTA BENCIVENGA DIRECTOR 7186943958 2024-11-15 1 1 MELISSA MODELSON P01603524 9143818900 2024-11-15 2023 2024-10-15 13:58:12Z CONCETTA BENCIVENGA 130 LIVINGSTON STREET 10TH FLOOR BROOKLYN NY 11201 6764910 0 X WWW.NYTRANSITMUSEUM.ORG X 1995 NY TO SUPPORT, PROMOTE, AND RAISE FUNDS FOR THE NEW YORK TRANSIT MUSEUM'S COLLECTIONS AND EXHIBITIONS. 13 13 97 14 0 0 1811600 1259866 629827 790491 492973 643633 0 -214757 2934400 2479233 0 0 0 0 1152607 1498948 0 0 363023 576561 929982 1729168 2428930 1205232 50303 13522737 14724429 406985 1141075 13115752 13583354 X SUPPORT THE NEW YORK TRANSIT MUSEUM'S COLLECTIONS AND EXHIBITIONS AND PRESERVE THE HISTORY, SOCIOLOGY AND TECHNOLOGY OF PUBLIC TRANSPORTATION IN THE NEW YORK METROPOLITAN AREA. IN ADDITION, SUPPORT THE MUSEUM'S ARCHIVAL, CURATORIAL, EDUCATIONAL, AND RESTORATION PROJECTS. 0 0 1474709 0 790491 THE FRIENDS OF THE NEW YORK TRANSIT MUSEUM'S MAIN PROGRAMS TO SUPPORT THE MUSEUM INCLUDED:1. NOSTALGIA RIDES OFFERS OPPORTUNITIES TO RIDE OUR BELOVED VINTAGE FLEET OF TRAINS TO DESTINATIONS ALL OVER THE CITY. HOLIDAY THEME TRAIN EXHIBIT IN THE MUSEUM.2. HOLIDAY-THEMED TRAIN EXHIBIT ALLOWS EVERYONE OF ALL AGES TO EXPLORE OUR FESTIVE HOLIDAY-THEMED TRAIN EXHIBIT AT THE MUSEUM, CELEBRATING THE RICH HERITAGE OF TRANSPORTATION IN A SEASONAL SETTING.3. OUR EDUCATIONAL TOURS INVITE SCHOOL GROUPS TO EXPLORE THE MUSEUM'S INTERACTIVE EXHIBITS, WHERE THEY CAN LEARN HOW TRANSPORTATION HAS SHAPED NEW YORK CITY FROM ITS EARLY DAYS TO THE PRESENT. 1474709 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 32 0 97 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X X CONCETTA BENCIVENGA 7186943958 130 LIVINGSTON STREET 10TH FLOOR BROOKLYN NY 11201 SUSAN GILBERT CHAIRPERSON 2.00 X X 0 0 0 ALFREDO QUINTERO SECRETARY/TREASURER 2.00 X X 0 0 0 MARTIN APPEL TRUSTEE 1.00 X 0 0 0 CARLA CRAFT TRUSTEE 1.00 X 0 0 0 BEVERLY DOLINSKY TRUSTEE 1.00 X 0 0 0 JOHN DI DOMENICO TRUSTEE 1.00 X 0 0 0 ROBERT FURNISS TRUSTEE, THRU AUGUST 2023 1.00 X 0 0 0 KURT A GODDARD TRUSTEE 1.00 X 0 0 0 WYNTON HABERSHAM TRUSTEE 1.00 X 0 0 0 EDWARD T SEAMAN TRUSTEE 1.00 X 0 0 0 RUBY SIEGEL TRUSTEE 1.00 X 0 0 0 STEVEN VACARRO TRUSTEE 1.00 X 0 0 0 JOHN VASILJ TRUSTEE 1.00 X 0 0 0 GERALD WEINSTEIN TRUSTEE 1.00 X 0 0 0 CONCETTA BENCIVENGA MUSEUM DIRECTOR 20.00 X 92364 0 6003 SARAH LANDRETH DIRECTOR OF DEVELOPMENT 40.00 X 109297 0 1920 201661 0 7923 1 0 0 1 CORE Z OPERATIONS LLC 141 WEST 54TH STREET NEW YORK NY 10019 CATERING SERVICES 181162 1 219759 591975 84988 363144 1259866 ADMISSIONS 900099 630511 630511 EVENTS & TOURS 900099 159980 159980 790491 312303 312303 3000 0 3000 3000 3000 4272223 3940893 331330 331330 331330 125675 591975 344784 -219109 -219109 OTHER INCOME 900099 1352 1352 1352 2479233 790491 0 428876 X 1235174 914556 50651 269967 131760 94753 8946 28061 132014 97810 5403 28801 1092 1092 157524 157524 123963 123963 366341 252353 104567 9421 4230 1217 2893 120 119940 17943 83390 18607 48949 23206 25743 3437 3437 20832 10064 6008 4760 15720 15720 3264 704 2364 196 EXHIBIT EXPENSES 49693 45643 2500 1550 HONORARIA/PROGRAM GUIDE 12967 12967 MISC OPERATING EXPENSES 2030 56 434 1540 2428930 1474709 591198 363023 1272730 1428874 0 253372 637814 108344 65726 28136 31997 8495 78600 49125 45195 29475 11469275 12867733 13522737 14724429 394590 333191 12395 67956 0 739928 406985 1141075 X 12314161 13232569 801591 350785 13115752 13583354 13522737 14724429 X 50303 884451 -467152 0 X X 0 1 X 1 0 X 1619071 1018069 1209111 1811600 1259866 6917717 1619071 1018069 1209111 1811600 1259866 6917717 67566 6850151 252120 242886 239220 251306 315303 1300835 1352 1352 8219904 2670112 0.83340 0.85340 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2023 AMOUNT: $ 1,352. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 78600 49125 29475 29475 DUE TO RELATED PARTY 586518 REFUNDABLE ADVANCES 153410 739928 X 3403933 884451 164212 1048663 2355270 123963 123963 2479233 2469179 164212 164212 2304967 123963 123963 2428930 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT OF BEING 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 YEARS PRIOR TO DECEMBER 31, 2020. MUSEUM GALA 717650 591975 125675 0 0 191341 0 31048 122395 717650 591975 125675 191341 31048 122395 344784 -219109 0 0 0 0 0 0 0 0 0 FORM 990, PART VII, SECTION A, LINE 5 AND SCHEDULE J, PART II, LINE 1: CONCETTA BENCIVENGA, DIRECTOR, WAS COMPENSATED BY THE NYC METROPOLITAN TRANSPORTATION AUTHORITY, AN UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO THE FRIENDS OF THE NEW YORK TRANSIT MUSEUM AS MUSEUM DIRECTOR. THE COMPENSATION, INCLUDING WAGES AND NONTAXABLE BENEFITS, THAT WAS PAID TO HER FOR HER SERVICES FOR TO THE MUSEUM IS REPORTED IN PART VII, AND SCHEDULE J. FORM 990, PART I, QUESTION 5, AND PART V, QUESTION 2A: THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED, THE MUSEUM DIRECTOR AND THE CFO CONSULTANT FROM KIWI PARTNERS REVIEW THE TAX RETURN WITH THE PREPARER. AFTER THIS REVIEW, THE TAX RETURN IS THEN SUBMITTED TO THE BOARD OF TRUSTEES FOR THEIR REVIEW PRIOR TO ITS FILING. ONCE THE BOARD HAS APPROVED THE RETURN IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART VI, SECTION B, LINES 11 THROUGH 14: FRIENDS OF THE NEW YORK TRANSIT MUSEUM DOES NOT HAVE ITS OWN CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY, OR DOCUMENT RETENTION AND DESTRUCTION POLICY. HOWEVER, IT DOES FOLLOW THE GOVERNANCE POLICIES SET IN PLACE BY THE NYC METROPOLITAN TRANSPORTATION AUTHORITY AND NYC TRANSIT AUTHORITY. FORM 990, PART IX, LINE 11G DESIGN AND PHOTOGRAPHY SERVICES: PROGRAM SERVICE EXPENSES 19,763. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,763. CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 232,590. MANAGEMENT AND GENERAL EXPENSES 64,249. FUNDRAISING EXPENSES 9,421. TOTAL EXPENSES 306,260. PAYROLL PROCESSING SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,318. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,318. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 8: IN PREPARING THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023, MANAGEMENT RESTATED CERTAIN AMOUNTS REPORTED IN THE DECEMBER 31, 2022 FINANCIAL STATEMENTS RELATING TO ADMISSIONS REVENUE DUE TO THE MTA, OVERSTATEMENT OF EXPENSE ACCRUAL, AND COST-REIMBURSEMENT GRANTS PREVIOUSLY RECOGNIZED AS RESTRICTED REVENUE WHEN MEASURABLE BARRIERS EXISTED. THE RESTATEMENTS RESULTED IN A PRIOR PERIOD ADJUSTMENT OF $467,152 REPORTED ON THE FORM 990.