2014-02-12T10:50:43-06:00 2013-06-30 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2012-07-01 272683349 GOVERNORS ISLAND CORPORATION GOVE 2124402200 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 LESLIE KOCH 2124402200 2014-02-12 1 ROBERT LYONS P00227472 2125038800 2012 2015-11-30 17:44:51Z THE TRUST FOR GOVERNORS ISLAND LESLIE KOCH 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 113210776 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 THAT IS RESPONSIBLE FOR THE REDEVELOPMENT AND OPERATION OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO TRANSFORM GOVERNORS ISLAND INTO A VIBRANT RESOURCE FOR NEW YORK CITY, MAKING THIS ISLAND AT THE CENTER OF NEW YORK HARBOR A DESTINATION WITH EXTRAORDINARY PUBLIC OPEN SPACE, AS WELL AS EDUCATIONAL, NOT-FOR-PROFIT AND COMMERCIAL FACILITIES. 13 13 19 0 0 0 36511792 112608532 1468389 571171 24554 -3315 53562 9388 38058297 113185776 0 0 0 0 1750388 2516714 0 0 22467 11745168 11279886 13495556 13796600 24562741 99389176 71616437 188187594 17966102 35148083 53650335 153039511 X THE TRUST FOR GOVERNORS ISLAND IS THE NONPROFIT CORPORATION CREATED BY THE CITY OF NEW YORK THAT IS RESPONSIBLE FOR THE REDEVELOPMENT AND OPERATION OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO TRANSFORM GOVERNORS ISLAND INTO A VIBRANT RESOURCE FOR NEW YORK CITY, MAKING THIS ISLAND AT THE CENTER OF NEW YORK HARBOR A DESTINATION WITH EXTRAORDINARY PUBLIC OPEN SPACE, AS WELL AS EDUCATIONAL, NOT-FOR-PROFIT AND COMMERCIAL FACILITIES.THE TRUST IS INVESTING $300 MILLION IN AN AMBITIOUS CAPITAL PROGRAM THAT IS BRINGING THE ISLAND'S INFRASTRUCTURE INTO THE 21ST CENTURY AND BUILDING NEW PARK AND PUBLIC SPACES. THE CAPITAL PROGRAM INCLUDES RESTORING POTABLE WATER, UPDATING TELECOM AND ELECTRICAL SYSTEMS, STABILIZING HISTORIC BUILDINGS, UPGRADING FERRY DOCKS, REPAIRING AND REPLACING THE SEAWALL, AND BUILDING 30 ACRES OF NEW PARK SPACES. 0 0 13233401 571171 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 WILL SUPPLY POTABLE WATER, UPDATE ELECTRICAL AND TELECOM SYSTEMS, STABILIZE HISTORIC BUILDINGS, REHABILITATE THE SEAWALL AND UPGRADE THE DOCKS. $99.3 MILLION WAS SPENT ON THESE PROJECTS THIS YEAR; 30 ACRES OF NEW PARK WILL BE COMPLETED IN THE NEXT YEAR. IN ADDITION, PHASE 2 OF THE PARK, THE HILLS, IS IN CONSTRUCTION. 13233401 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 2 0 19 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 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 1.00 X 0 0 0 ELIZABETH BERGER 1.00 X 0 0 0 AMANDA BURDEN 1.00 X 0 0 0 DOUG BLONSKY 1.00 X 0 0 0 MARK COSTELLO 1.00 X 0 0 0 PATTI HARRIS 1.00 X 0 0 0 CATHERINE HUGHES 1.00 X 0 0 0 JEFFREY H LYNFORD 1.00 X 0 0 0 SETH PINSKY 1.00 X 0 0 0 JUDY RAPFOGEL 1.00 X 0 0 0 DAVID SALTZMAN 1.00 X 0 0 0 DENNIS WALCOTT 1.00 X 0 0 0 CARL WEISBROD 1.00 X 0 0 0 LESLIE KOCH 35.00 X 175000 0 49670 JONATHAN MEYERS 35.00 X 140000 0 44741 PAUL KELLY 35.00 X 160660 0 47664 WILLA PADGETT 35.00 X 127000 0 8064 SIMON BERTRANG 35.00 X 129327 0 10144 TERENCE WILLIAMS 35.00 X 115432 0 41219 847419 0 201502 6 0 1 0 TURNER CONSTRUCTION COMPANY 375 HUDSON STREET NEW YORK NY 10014 FACILIITES/CONSTRUCTION MGMT. 10355324 WEST 8 NEW YORK INC 333 HUDSON STREET SUITE 905 NEW YORK NY 10013 LANDSCAPE ARCHITECTURE 1531814 2 111191260 1417272 112608532 PERMITS AND OTHER FEES 531390 571171 571171 571171 14405 14405 7280 25000 -17720 -17720 -17720 OTHER INCOME 900099 9388 9388 9388 113185776 571171 0 6073 743894 647038 74389 22467 1193796 1091916 101880 105360 96610 8750 342214 312174 30040 131450 119620 11830 39594 39594 5590 5590 36000 36000 58000 58000 19769 19769 362235 326012 36223 4959 4959 696816 627134 69682 44768 40291 4477 FACILITIES MANAGEMENT 9967717 9967717 OTHER EXPENSES 44438 4889 39549 13796600 13233401 540732 22467 17685402 11872374 7422976 15271913 228742 167717 3138 4362 162853761 1982533 46251179 160871228 25000 71616437 188187594 10066145 24596135 7703768 10327303 196189 224645 17966102 35148083 X 0 0 46251179 160871228 7399156 -7831717 53650335 153039511 71616437 188187594 99389176 0 X X 0 1 X 1 1 1 X 42134293 36511792 112608532 191254617 42134293 36511792 112608532 191254617 191254617 29958 24554 14405 68917 53562 9388 62950 191386484 3809142 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2011 AMOUNT: $ 53,562. 2012 AMOUNT: $ 9,388. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 5764536 1451516 4313020 157089224 531017 156558207 160871228 OTHER POSTEMPLOYMENT BENEFITS OBLIGATION 224645 224645 113185776 0 113185776 0 113185776 13796600 0 13796600 0 13796600 SCHEDULE D, PART VI - LAND, BUILDINGS, AND EQUIPMENT: THE COST BASIS OF OTHER ASSETS LISTED UNDER 1E INCLUDES CONSTRUCTION IN PROGRESS OF $153,238,964 AND SITE IMPROVEMENTS OF $3,850,260. X 0 0 0 0 0 0 0 0 0 LESLIE KOCH 175000 0 0 0 0 0 24500 0 25170 0 224670 0 0 0 JONATHAN MEYERS 140000 0 0 0 0 0 19600 0 25141 0 184741 0 0 0 PAUL KELLY 160660 0 0 0 0 0 22494 0 25170 0 208324 0 0 0 TERENCE WILLIAMS 115432 0 0 0 0 0 16160 0 25059 0 156651 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 TO SUPPORT ITS ACTIVITIES, TGI ENTERED INTO AN AGREEMENT WITH THE NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION ("EDC"), A NOT-FOR-PROFIT LOCAL DEVELOPMENT CORPORATION AND A COMPONENT UNIT OF THE CITY OF NEW YORK. UNDER THE TERMS OF THE AGREEMENT, EDC IS TO PROVIDE ADMINISTRATIVE SUPPORT IN THE AREAS OF PAYROLL AND HUMAN RESOURCES AS WELL AS OTHER PROFESSIONAL AND TECHNICAL ASSISTANCE AS REQUIRED. TGI ENTERED INTO A NEW CONTRACT WITH A PROFESSIONAL EMPLOYER ORGANIZATION IN MAY 2013, WHICH IS NOW PROVIDING THESE SERVICES (I.E., PAYROLL AND HUMAN RESOURCES). 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, 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.