2016-03-30T13:39:03-05:00 2015-06-30 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-07-01 272683349 GOVERNORS ISLAND CORPORATION GOVE 2124402200 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 LESLIE KOCH PRESIDENT 2124402200 2016-03-30 1 LYONS ROBERT P00227472 2125038800 2014 2016-08-17 19:52:53Z THE TRUST FOR GOVERNORS ISLAND LESLIE KOCH 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 82898921 0 X WWW.GOVISLAND.COM 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 TRANSFORM GOVERNORS ISLAND INTO A VIBRANT YEAR-ROUND RESOURCE FOR NEW YORK CITY, MAKING THE ISLAND A DESTINATION WITH EXTRAORDINARY PUBLIC OPEN SPACE, DIVERSE CULTURAL AND RECREATIONAL ACTIVITIES, AS WELL AS EDUCATIONAL, NOT-FOR-PROFIT AND COMMERCIAL FACILITIES. 12 12 18 12 0 0 115285763 80776158 1142206 2089390 32370 24773 8766 8600 116469105 82898921 0 0 0 0 2700939 2332809 0 0 160053 13356309 23976992 16057248 26309801 100411857 56589120 296675095 339898124 43223727 29857636 253451368 310040488 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 TRANSFORM GOVERNORS ISLAND INTO A VIBRANT YEAR ROUND RESOURCE FOR NEW YORK CITY, MAKING THE ISLAND A DESTINATION WITH EXTRAORDINARY PUBLIC OPEN SPACE, DIVERSE CULTURAL AND RECREATIONAL ACTIVITIES, AS WELL AS PERMANENT EDUCATIONAL, NOT-FOR-PROFIT AND COMMERCIAL FACILITIES. 0 0 24813460 2089390 THE TRUST MANAGES ALL OPERATIONS, PLANNING AND REDEVELOPMENT FOR 150 ACRES OF GOVERNORS ISLAND. THE TRUST PROVIDES FERRY, MAINTENANCE AND SECURITY SERVICES FOR THE ISLAND THROUGHOUT THE YEAR. DURING THE PUBLIC ACCESS SEASON HUNDREDS OF THOUSANDS OF VISITORS COME TO THE ISLAND TO EXPERIENCE A DIVERSE ARRAY OF ARTS, CULTURAL AND RECREATIONAL PROGRAMS. THROUGH A $300 MILLION CAPITAL PROGRAM, THE TRUST IS BUILDING EXTRAORDINARY NEW PARK SPACES AND BRINGING THE ISLAND'S INFRASTRUCTURE INTO THE 21ST CENTURY. CAPITAL INVESTMENTS HAVE SO FAR SUPPLIED POTABLE WATER, STABILIZED HISTORIC BUILDINGS AND REHABILITATED THE SEAWALL; ONGOING PROJECTS INCLUDE UPDATING THE ELECTRICAL AND TELECOM SYSTEMS AND UPGRADING THE DOCKS. IN ADDITION, 30 ACRES OF NEW PARK OPENED IN THE SPRING OF 2014. PHASE 2 OF THE PARK, THE HILLS, IS NEARING COMPLETION, SCHEDULED TO OPEN TO THE PUBLIC IN 2016. 24813460 1 1 0 0 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 0 0 0 0 0 0 0 0 0 1 5 0 18 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X WILLA PADGETT - CHIEF FINANCIAL OFF 2124402227 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 RONAY MENSCHEL CHAIR 1.00 X 0 0 0 ANDREA BENDER BOARD MEMBER 1.00 X 0 0 0 MARGARET CHIN BOARD MEMBER 1.00 X 0 0 0 CHERYL EFFRON BOARD MEMBER 1.00 X 0 0 0 ALICIA GLEN BOARD MEMBER 1.00 X 0 0 0 PATTI HARRIS BOARD MEMBER 1.00 X 0 0 0 CATHERINE HUGHES BOARD MEMBER 1.00 X 0 0 0 JANNO LIEBER BOARD MEMBER 1.00 X 0 0 0 JUDY RAPFOGEL BOARD MEMBER 1.00 X 0 0 0 ELIZABETH RICHMAN BOARD MEMBER 1.00 X 0 0 0 WENDY SCHMIDT BOARD MEMBER 1.00 X 0 0 0 CARL WEISBROD BOARD MEMBER 1.00 X 0 0 0 LESLIE KOCH PRESIDENT 35.00 X 184230 0 47047 JONATHAN MEYERS CHIEF OPERATING OFFICER/TREASURER 35.00 X 149160 0 51358 PAUL KELLY GENERAL COUNSEL/SECRETARY (FORMER) 35.00 X 128126 0 31613 WILLA PADGETT CHIEF FINANCIAL OFFICER 35.00 X 136180 0 19344 MARNI FRIEDLANDER GENERAL COUNSEL/SECRETARY 35.00 X 0 0 0 TERRENCE WILLIAMS VP OF FACILIITES & OPERATIONS 35.00 X 126348 0 48111 724044 0 197473 5 0 1 0 TURNER CONSTRUCTION COMPANY 375 HUDSON STREET NEW YORK NY 10014 FACILIITES/ CONSTRUCTION MGMT. 10189937 BARD COLLEGE PO BOX 500 ANNANDALE ON HUDSON NY 12504 CURATORIAL SERVICES 210998 AEA CONSULTING 544 MAIN STREET BEACON NY 12508 FEASIBILITY STUDY 142000 3 64301472 16474686 80776158 PERMITS AND OTHER FEES 531390 2089390 2089390 2089390 24773 24773 OTHER INCOME 900099 8600 8600 8600 82898921 2089390 0 33373 656938 567607 65694 23637 1284724 1044688 128473 111563 54318 44374 5433 4511 208086 174263 20807 13016 128743 108543 12874 7326 16568 16568 38000 38000 698916 677535 21381 14251 14251 256134 230521 25613 5954 5954 9121337 8209203 912134 63257 56931 6326 FACILITIES MANAGEMENT 13646721 13646721 OTHER EXPENSES 113246 53074 60172 PRINTING AND POSTAGE 2608 2608 26309801 24813460 1336288 160053 24664312 18988991 9275285 1805217 209866 206176 3246 4240 330901906 12288614 262349166 318613292 173220 280208 296675095 339898124 19201958 13249619 23496247 16135825 525522 472192 43223727 29857636 X 0 0 262349166 318613292 -8897798 -8572804 253451368 310040488 296675095 339898124 56589120 0 X X 0 1 X 1 1 1 X 42134293 36511792 112608532 115285763 80776158 387316538 42134293 36511792 112608532 115285763 80776158 387316538 387316538 29958 24554 14405 32370 24773 126060 53562 9388 8766 8600 80316 387522914 7040738 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2011 AMOUNT: $ 53,562. 2012 AMOUNT: $ 9,388. 2013 AMOUNT: $ 8,766. 2014 AMOUNT: $ 8,600. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 5967453 2508130 3459323 324934452 9780484 315153968 318613292 OTHER POSTEMPLOYMENT BENEFITS OBLIGATION 191984 SECURITY DEPOSITS 280208 472192 82898921 0 82898921 0 82898921 26309801 0 26309801 0 26309801 SCHEDULE D, PART VI SCHEDULE D, PART VI - LAND, BUILDINGS, AND EQUIPMENT: THE COST BASIS OF OTHER ASSETS LISTED UNDER 1E INCLUDES CONSTRUCTION IN PROGRESS OF $78,225,821 AND SITE IMPROVEMENTS OF $246,708,631. X X 0 0 0 0 0 0 0 0 0 LESLIE KOCH PRESIDENT 184230 0 0 0 0 0 25792 0 21255 0 231277 0 0 0 JONATHAN MEYERS CHIEF OPERATING OFFICER/TREASURER 149160 0 0 0 0 0 20882 0 30476 0 200518 0 0 0 PAUL KELLY GENERAL COUNSEL/SECRETARY (FORMER) 128126 0 0 0 0 0 17938 0 13675 0 159739 0 0 0 WILLA PADGETT CHIEF FINANCIAL OFFICER 136180 0 0 0 0 0 19065 0 279 0 155524 0 0 0 TERRENCE WILLIAMS VP OF FACILIITES & OPERATIONS 126348 0 0 0 0 0 17689 0 30422 0 174459 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS ONE MEMBER WHICH IS THE INDIVIDUAL HOLDING THE OFFICE OF THE MAYOR OF THE CITY OF NEW YORK (THE "MAYOR"). FORM 990, PART VI, SECTION A, LINE 7A THE MAYOR WILL APPOINT THE DIRECTORS OF THE CORPORATION AS FOLLOWS: (I) EIGHT DIRECTORS, APPOINTED BY THE MAYOR IN HIS OR HER CAPACITY AS MAYOR OF THE CITY; (II) ONE DIRECTOR WHO SHALL RESIDE IN BROOKLYN, APPOINTED BY THE MAYOR IN HIS OR HER CAPACITY AS MAYOR; (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; AND (VI) ONE DIRECTOR UPON THE NOMINATION OF THE GOVERNOR OF THE STATE OF NEW YORK. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FORM 990 WILL BE REVIEWED IN DETAIL BY TGI'S AUDIT AND FINANCE COMMITTEE PRIOR TO FILING THE FORM. ONCE REVIEWED BY THE COMMITTEE, THE FORM 990 WILL BE DISTRIBUTED TO THE FULL BOARD (VIA E-MAIL) FOR ITS REVIEW AND COMMENT, ALSO PRIOR TO FILING. 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 15 THE SENIOR MANAGEMENT OF THE GOVERNORS ISLAND CORPORATION D/B/A THE TRUST FOR GOVERNORS ISLAND ("THE TRUST") INCLUDES THE PRESIDENT, CHIEF OPERATING 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 XII, LINE 2C THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.