2020-11-12T16:20:03-06:00 2019-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2019-01-01 455316035 WORLD TRADE CENTER PERFORMING ARTS CENTER INC WORL 2122663000 ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 LESLIE KOCH PRESIDENT & CEO 2123128800 2020-11-12 1 GARRETT M HIGGINS P00543209 2122862600 2020-11-05 47.18.172.68 2020-11-12 15:20:00 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5DA95DB661BFBF1E1CC10393D0405B5901069AC8 2019 2021-01-29 14:40:06Z THE PERELMAN CENTER LESLIE KOCH ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 155473954 0 X HTTP://WWW.THEPERELMAN.ORG X 2012 NY THE PERFORMING ARTS CENTER (PAC) WILL CONTRIBUTE TO THE REVITALIZATION OF LOWER MANHATTAN BY WELCOMING A DIVERSE PUBLIC AND PRODUCING AND PRESENTING THEATER, DANCE, MUSIC, AND OTHER PERFORMING ARTS. 21 21 12 25 0 0 80197523 155304019 0 0 -3343 169417 0 518 80194180 155473954 0 0 0 0 1135355 2246033 229000 288611 621246 1608376 1431558 2972731 3966202 77221449 151507752 158006000 325614030 4109733 18968016 153896267 306646014 X THE PERFORMING ARTS CENTER (PAC) WILL CONTRIBUTE TO THE REVITALIZATION OF LOWER MANHATTAN BY WELCOMING A DIVERSE PUBLIC AND PRODUCING AND PRESENTING THEATER, DANCE, MUSIC, AND OTHER PERFORMING ARTS. 0 0 1162747 CONSTRUCTION MANAGEMENT, DESIGN AND FACILITIES PLANNING:ABOVE GRADE CONSTRUCTION OF THE BUILDING BEGAN IN SEPTEMBER 2019. SCIAME CONSTRUCTION, SERVING AS CONSTRUCTION MANAGER, MADE AWARDS FOR SUBCONTRACTS INCLUDING SUPERSTRUCTURE CONCRETE, EXTERIOR STONE PLINTH INSTALL, PLUMBING, HVAC PIPING, HVAC SHEET METAL, ELECTRICAL CORE & SHELL, ELECTRICAL ABOVE GRADE FITOUT, THEATER SEATING TOWERS, FIRE PROTECTION AND HOIST. CONCRETE, STEEL, MEP AND STONE AND CURTAIN WALL FABRICATION ADVANCED SIGNIFICANTLY IN 2019. THE DESIGN TEAM (REX, CHARCOALBLUE AND DAVIS BRODY BOND) ADVANCED INTO CONSTRUCTION DOCUMENTS. PROJECT MANAGEMENT, DESIGN AND CONSTRUCTION COSTS OF $80,449,709 WERE INCURRED IN 2019 AND CAPITALIZED AS CONSTRUCTION IN PROGRESS. THE PRESIDENT IS ACTIVELY INVOLVED IN ALL ASPECTS OF CONSTRUCTION AND DESIGN, WITH EXTENSIVE INPUT FROM THE ARTISTIC DIRECTOR ON DESIGN OF THEATERS AND PUBLIC SPACES. 887762 ORGANIZATION DEVELOPMENT AND PLANNING:THE PAC MADE A TRANSITION IN THE PRESIDENT POSITION, WITH LESLIE KOCH, FORMER PRESIDENT OF THE TRUST FOR GOVERNORS ISLAND, JOINING IN JULY 2019. THE PRESIDENT IS FOCUSSED ON PREPARING AND PLANNING FOR ALL ASPECTS OF THE ORGANIZATION'S FUTURE, INCLUDING GOVERNANCE, MANAGEMENT, BUSINESS PLANNING, MARKETING AND OPERATIONS. 819561 ARTISTIC AND PROGRAM:IN AUGUST 2019, THE PAC'S INAUGURAL ARTISTIC DIRECTOR BILL RAUCH, APPOINTED IN 2018, ASSUMED HIS ROLE FULL TIME RESIDENT IN NYC. RAUCH HAS BEEN FULLY ENGAGED IN PLANNING FUTURE SEASONS, WORKING WITH ARTISTS AND OTHER CULTURAL ORGANIZATIONS TO DEVELOP AND PRESENT PROJECTS. THE PERELMAN WILL HAVE A RICH, DIVERSE PROGRAM OF PERFORMING ARTS. 2870070 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 43 0 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA FL NJ NY X X MAXIM SEMIGLAZOV 2122663000 ONE LIBERTY PLAZA 29TH FL NEW YORK NY 10006 WILLIAM RAUCH ARTISTIC DIRECTOR 40.00 X 617903 0 13520 DAVID LANGFORD CHIEF FINANCIAL OFFICER 40.00 X 281882 0 52025 MAGGIE BOEPPLE - PRESIDENT UNTIL JULY 2019 40.00 X 270151 0 13472 LESLIE KOCH PRESIDENT & CEO FROM JULY 2019 40.00 X 253035 0 8993 SUANY CHOUGH DIRECTOR PROJECT DEVELOPMENT 40.00 X 217759 0 38422 MATTHEW WILSON CONSTRUCTION MANAGER 40.00 X 212319 0 16847 RICCARDO SALMONA SR DIRECTOR OF MAJOR GIFTS UNTIL MAY 2019 40.00 X 193352 0 5121 ADRIAN ADOLPHE DIRECTOR OF FACILITIES UNTIL AUGUST 2019 40.00 X 107129 0 22205 BARBRA STREISAND CHAIR 1.00 X X 0 0 0 PETER DARROW VICE-CHAIR 5.00 X X 0 0 0 CHRISTINE TAYLOR SECRETARY 1.00 X X 0 0 0 DOMINIC CASSERLEY TREASURER 1.00 X X 0 0 0 FRANK BISIGNANO DIRECTOR 1.00 X 0 0 0 RIC CLARK DIRECTOR 1.00 X 0 0 0 STEVEN E COHEN DIRECTOR 1.00 X 0 0 0 STEPHEN DALDRY DIRECTOR 1.00 X 0 0 0 DAVID EARLS DIRECTOR 1.00 X 0 0 0 ARI EMANUEL DIRECTOR 1.00 X 0 0 0 HAROLD FORD JR DIRECTOR 1.00 X 0 0 0 PATRICIA E HARRIS DIRECTOR 1.00 X 0 0 0 ED HENRY DIRECTOR 1.00 X 0 0 0 PAULA LAWRENCE DIRECTOR 1.00 X 0 0 0 JULIE MENIN DIRECTOR 1.00 X 0 0 0 ZENIA MUCHA DIRECTOR 1.00 X 0 0 0 RONALD O PERELMAN DIRECTOR 1.00 X 0 0 0 SCOTT RECHLER DIRECTOR 1.00 X 0 0 0 BARRY F SCHWARTZ DIRECTOR UNTIL JULY 2019 1.00 X 0 0 0 LARRY A SILVERSTEIN DIRECTOR 1.00 X 0 0 0 SUSAN STROMAN DIRECTOR 1.00 X 0 0 0 ANNE WALKER DIRECTOR STARTING JULY 2019 1.00 X 0 0 0 2153530 0 170605 8 0 1 0 SCIAME CONSTRUCTION LLC 14 WALL STREET NEW YORK NY 10005 CONSTRUCTION 51466156 DAVIS BRODY BOND ONE NEW YORK PLAZA SUITE 4200 NEW YORK NY 10004 ARCHITECTURAL SERVICES 5501570 REX ARCHITECTURE PC 20 JAY STREET SUITE 920 BROOKLYN NY 11201 ARCHITECTURAL SERVICES 952447 CHARCOALBLUE LLC 150 WEST 28TH STREET SUITE 1504 NEW YORK NY 10001 ARCHITECTURAL SERVICES 940000 WSP USA BUILDING INC 1 PENNSYLVANIA PLAZA 2ND FLOOR BROOKLYN NY 10119 ENGINEERING 513896 7 18022432 137281587 155304019 169417 169417 OTHER INCOME 900099 518 518 518 155473954 0 0 169935 X 1357765 1113526 71403 172836 653766 464461 171504 17801 70587 54056 10262 6269 64001 48544 10542 4915 99914 77452 12048 10414 56671 16218 37655 2798 72878 72878 288611 288611 504334 455212 7444 41678 24000 23385 615 70770 55711 7621 7438 36385 28805 3942 3638 19520 15453 2115 1952 24415 24369 24 22 31365 24830 3398 3137 562896 445625 60981 56290 27339 21643 2962 2734 MISC. ADMIN. EXPENSES 985 780 107 98 3966202 2870070 474886 621246 19631776 35089031 750000 42539333 111724685 15483 33719 475758 474603 79201 1155 1007422 95740207 177008018 158006000 325614030 3062089 18467039 1047644 500977 4109733 18968016 X 67390000 157547982 86506267 149098032 153896267 306646014 158006000 325614030 X 151507752 7105 1468220 -233330 X X 0 1 X 1 1 1 X 1041733 5949608 74434667 80197523 155304019 316927550 1041733 5949608 74434667 80197523 155304019 316927550 133480729 183446821 169417 169417 100000 518 100518 317197485 0.57830 0.69780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: VENDOR CREDITS - 2017 AMOUNT: $ 100,000. OTHER INCOME - 2019 AMOUNT: $ 518. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1000000 7313 1007313 1000000 1000000 1000000 1000000 0.99000 0.01000 0 0 405194 405090 104 70564 69513 1051 1155 CONSTRUCTION IN PROGRESS 128593858 CAPITALIZED LEASEHOLD 47111208 DEFERRED DEBT ISSUANCE COSTS 1285952 SECURITY DEPOSITS 17000 177008018 DUE TO NATIONAL SEPTEMBER 11 MEMORIAL AND MUSEUM 500977 500977 X 156949279 7105 1468220 1475325 155473954 0 155473954 4199532 233330 233330 3966202 0 3966202 PART V, LINE 4: THE ORGANIZATION HAS RECEIVED A RESTRICTED GIFT OF $1M TO BE HELD IN PERPETUITY. INCOME EARNED FROM THIS GIFT IS EXPENDABLE TO SUPPORT A THEATRICAL PRODUCTION EACH YEAR WITH THE CONSENT OF THE DONOR. PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT IS NOT AWARE OF ANY VIOLATIONS OF ITS TAX STATUS AS AN ORGANIZATION EXEMPT FROM INCOME TAX, NOR OF ANY EXPOSURE TO UNRELATED BUSINESS INCOME TAX THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATION BY APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO 2016. PART XII, LINE 2D - OTHER ADJUSTMENTS: AMORTIZATION OF DEFERRED RENT FROM DONATED USE OF FACILITIES 233,330. X X X X X 1 CATHY BLANEY AND ASSOCIATES 300 EAST 85TH STREET APT 2502 NEW YORK NY 10028 CAPITAL CAMPAIGN 0 0 192329 0 JP LEXINGTON LLC 30 E END AVENUE 5B NEW YORK NY 10028 CAPITAL CAMPAIGN 0 0 96282 0 288611 CA CO CT FL NJ NY WA X X X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 WILLIAM RAUCH ARTISTIC DIRECTOR 361685 0 0 0 256218 0 0 0 13520 0 631423 0 0 0 DAVID LANGFORD CHIEF FINANCIAL OFFICER 278270 0 0 0 3612 0 16800 0 35225 0 333907 0 0 0 MAGGIE BOEPPLE - PRESIDENT UNTIL JULY 2019 175464 0 90000 0 4687 0 11576 0 1896 0 283623 0 0 0 LESLIE KOCH PRESIDENT & CEO FROM JULY 2019 251197 0 0 0 1838 0 0 0 8993 0 262028 0 0 0 SUANY CHOUGH DIRECTOR PROJECT DEVELOPMENT 196793 0 20000 0 966 0 10048 0 28374 0 256181 0 0 0 MATTHEW WILSON CONSTRUCTION MANAGER 192002 0 20000 0 317 0 1076 0 15771 0 229166 0 0 0 RICCARDO SALMONA SR DIRECTOR OF MAJOR GIFTS UNTIL MAY 2019 129030 0 0 0 64322 0 4000 0 1121 0 198473 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED A RESIDENCE, DISCRETIONARY SPENDING ACCOUNT AND TAX GROSS UP PAYMENTS TO ARTISTIC DIRECTOR WILLIAM RAUCH. THE ORGANIZATION ALSO PAID FOR MOVING EXPENSES. ALL OF THESE BENEFITS WERE TREATED AS TAXABLE COMPENSATION. PART I, LINE 4A RICCARDO SALMONA, SENIOR DIRECTOR OF MAJOR GIFTS (UNTIL MAY 2019), RECEIVED SEVERANCE IN THE AMOUNT OF $62,276 AS INCLUDED IN PART II, COLUMN (B)(III). PART I, LINE 7 THE FOLLOWING INDIVIDUALS RECEIVED NONFIXED PAYMENT IN THE FORM OF PERFORMANCE BONUS AS PART OF THEIR 2019 COMPENSATION: -MAGGIE BOEPPLE: $90,000 -SUANY CHOUGH: $20,000 -MATTHEW WILSON: $20,000 FORM 990, PART I, ITEM C DBA: PERFORMING ARTS CENTER AT THE WORLD TRADE CENTER FORM 990, PART V, SECTION A, LINE 2A: THE ORGANIZATION UTILIZES THE SERVICES OF A PROFESSIONAL EMPLOYER ORGANIZATION ("PEO") AND W-2 FORMS ARE ISSUED UNDER THE EIN OF THE PEO. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE PRESIDENT/CEO AND CONTROLLER AND THEN PROVIDED TO THE BOARD PRIOR TO FILING. THE BOARD IS PROVIDED AN OPPORTUNITY TO ASK QUESTIONS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE PAC HAS A BOARD APPROVED CONFLICT OF INTEREST POLICY WHICH IT ACTIVELY MONITORS AND ENFORCES. THE POLICY MANDATES THAT ALL DIRECTORS AND OFFICERS ANNUALLY SIGN A CONFLICT OF INTEREST QUESTIONNAIRE AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. THE SIGNED CONFLICT OF INTEREST QUESTIONNAIRE IS FILED ANNUALLY WITH THE PRESIDENT/CEO OF THE PAC OR HER DESIGNEE WHO REVIEWS THE SIGNED ATTESTATIONS FOR POTENTIAL OR ACTUAL CONFLICTS EXPECTED TO OCCUR WITHIN THE FOLLOWING YEAR. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS ON THE PART OF A DIRECTOR OR OFFICER, DISCLOSURE SHALL BE MADE TO THE CHAIR OF THE BOARD AND EXTERNAL BOARD COUNSEL, WHO ARE RESPONSIBLE FOR MAKING THE DETERMINATION OF WHETHER A CONFLICT EXISTS. IF AN ACTUAL CONFLICT EXISTS AND INVOLVES A PARTICULAR TRANSACTION THAT REQUIRES A VOTE OF THE BOARD, THE AFFECTED MEMBER OF MANAGEMENT OR THE BOARD WILL NOT BE ENTITLED TO VOTE, DELIBERATE OR OTHERWISE USE HIS OR HER INFLUENCE ON THE MATTER IN QUESTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT WAS DETERMINED BY A REVIEW OF THE POSITION DESCRIPTION, THE PRESIDENT'S QUALIFICATIONS INCLUDING HER CV, AND A COMPREHENSIVE REVIEW OF COMPARABLE POSITIONS AT SIMILARLY SITUATED CULTURAL INSTITUTIONS. NONE OF THE DIRECTORS INVOLVED IN DETERMINING THE COMPENSATION FOR THE PRESIDENT HAD A CONFLICT OF INTEREST IN CONNECTION WITH THE DETERMINATION. A SIMILAR PROCESS WAS USED TO DETERMINE THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. THE PROCESS WAS LAST PERFORMED IN 2019. FORM 990, PART VI, SECTION C, LINE 19 THE PAC'S FORM 990, FORM 1023, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST AT ONE LIBERTY PLAZA, 29TH FL., NEW YORK, NY 10006 OR BY CALLING THE ORGANIZATION DIRECTLY AT 212-266-3000. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART IX, LINE 11G ARTISTIC ADVISORY SERVICES: PROGRAM SERVICE EXPENSES 132,662. MANAGEMENT AND GENERAL EXPENSES 2,143. FUNDRAISING EXPENSES 12,004. TOTAL EXPENSES 146,809. BUSINESS PLANNING: PROGRAM SERVICE EXPENSES 121,522. MANAGEMENT AND GENERAL EXPENSES 1,996. FUNDRAISING EXPENSES 11,180. TOTAL EXPENSES 134,698. OTHER PROFESSIONAL CONSULTANTS: PROGRAM SERVICE EXPENSES 201,028. MANAGEMENT AND GENERAL EXPENSES 3,305. FUNDRAISING EXPENSES 18,494. TOTAL EXPENSES 222,827. FORM 990, PART XI, LINE 9: AMORTIZATION OF DEFERRED RENT FROM DONATED USE OF FACILITIES -233,330. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.