2014-04-15T14:33:11-05:00 2013-06-30 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2012-07-01 272846763 BROOKLYN BRIDGE PARK CORPORATION BROO 7182229939 334 FURMAN STREET BROOKLYN NY 11201 REGINA MYER 7182229939 2014-04-16 1 ROBERT LYONS P00227472 2125038800 2012 2015-11-30 17:44:51Z BROOKLYN BRIDGE PARK REGINA MYER 334 FURMAN STREET BROOKLYN NY 11201 47461503 0 X WWW.BROOKLYNBRIDGEPARK.ORG X 2010 NY THE BROOKLYN BRIDGE PARK CORPORATION, D/B/A BROOKLYN BRIDGE PARK ("BBP" OR THE "CORPORATION"), IS THE ENTITY RESPONSIBLE FOR THE PLANNING, CONSTRUCTION, MAINTENANCE AND OPERATION OF BROOKLYN BRIDGE PARK, AN 85-ACRE SUSTAINABLE WATERFRONT PARK STRETCHING 1.3 MILES ALONG BROOKLYN'S EAST RIVER SHORELINE. THE CORPORATION'S MISSION IS TO CREATE AND MAINTAIN A WORLD CLASS PARK THAT IS A RECREATIONAL, ENVIRONMENTAL AND CULTURAL DESTINATION ENJOYED BY THE RESIDENTS OF, AND VISITORS TO, NEW YORK CITY. THE CORPORATION OPERATES UNDER A MANDATE, EMBODIED BY ITS GENERAL PROJECT PLAN, TO BE FINANCIALLY SELF-SUSTAINING, WHICH INCLUDES THE ACTIVATION OF CERTAIN DEVELOPMENT SITES WITHIN THE PROJECT'S FOOTPRINT. 17 17 32 0 0 0 40503633 44188548 7625986 3001092 31104 41082 52003 230781 48212726 47461503 0 0 0 0 1635695 2202090 0 0 0 3940093 5943771 5575788 8145861 42636938 39315642 121996387 151475761 35637524 26529664 86358863 124946097 X THE BROOKLYN BRIDGE PARK CORPORATION, D/B/A BROOKLYN BRIDGE PARK ("BBP" OR THE "CORPORATION"), IS THE ENTITY RESPONSIBLE FOR THE PLANNING, CONSTRUCTION, MAINTENANCE AND OPERATION OF BROOKLYN BRIDGE PARK, AN 85-ACRE SUSTAINABLE WATERFRONT PARK STRETCHING 1.3 MILES ALONG BROOKLYN'S EAST RIVER SHORELINE. THE CORPORATION'S MISSION IS TO CREATE AND MAINTAIN A WORLD CLASS PARK THAT IS A RECREATIONAL, ENVIRONMENTAL AND CULTURAL DESTINATION ENJOYED BY THE RESIDENTS OF, AND VISITORS TO, NEW YORK CITY. THE CORPORATION OPERATES UNDER A MANDATE, EMBODIED BY ITS GENERAL PROJECT PLAN, TO BE FINANCIALLY SELF-SUSTAINING, WHICH INCLUDES THE ACTIVATION OF CERTAIN DEVELOPMENT SITES WITHIN THE PROJECT'S FOOTPRINT. 0 0 6360872 0 3001092 PARK OPERATIONS AND DEVELOPMENT:IN JULY 2012, THE POP-UP POOL OPENED AT PIER 2. THE POOL AREA INCLUDES A SANDY BEACH, LOUNGE CHAIRS, PICNIC TABLES AND UMBRELLAS. THE SITE ALSO INCLUDES A FOOD AND DRINK CONCESSION, SHOWERS AND RESTROOMS.IN JULY 2012, BBP FACILITATED ITS ANNUAL PARK VISITOR COUNT. BBP ESTIMATED THAT ALMOST 90,000 VISITORS COME TO THE PARK ON AN AVERAGE SUMMER WEEKEND. WEEKDAY ATTENDANCE IS ESTIMATED AT 11,500 VISITORS PER DAY. IN SEPTEMBER 2012, CONSTRUCTION ON PIER 2 BEGAN. PIER 2 WILL BE THE PARK'S SECOND ACTIVE RECREATION PIER. SPANNING NEARLY FIVE ACRES, PIER 2 WILL PROVIDE SEVERAL SPORT AMENITIES, INCLUDING 5 FULL-SIZED BASKETBALL COURTS, HANDBALL AND BOCCE COURTS, AS WELL AS A FULL SIZED IN-LINE SKATING RINK, FITNESS EQUIPMENT, SWINGS AND PICNIC TABLES. IN SEPTEMBER 2012, CONSTRUCTION BEGAN ON THE PIER 3 & 4 UPLANDS. THIS SECTION WILL ADD OVER 6 ACRES TO THE PARK AND COMPLETE THE CONTINUOUS GREENWAY RUNNING FROM PIER 1 TO PIER 6. THE NEW GRANITE OVERLOOK, SOUND ATTENUATING BERM AND 3 LAWNS WILL OFFER PARK VISITORS A PEACEFUL SPOT FOR PASSIVE RECREATION. IN DECEMBER 2012, PARK SPACE EXPANDED BY FIVE ACRES WITH THE OPENING OF PIER 5. NEW AMENITIES AT PIER 5 INCLUDE THREE MULTI-PURPOSE SPORTS FIELDS, THE PICNIC PENINSULA, TWO NEW PLAY AREAS FOR CHILDREN, TWO TETHERBALL POLES, BAIT PREPARATION TABLES AND FISH CLEANING STATIONS, AND A 30-FOOT WIDE PROMENADE.IN FEBRUARY 2013, BBP ANNOUNCED FOUR NEW CONCESSIONAIRES TO OPERATE IN THE PIER 5, PIER 6 AND FULTON FERRY LANDING/DUMBO SECTIONS OF THE PARK. THE NEW CONCESSIONS PROVIDE CONVENIENT AND UNIQUE FOOD DESTINATIONS FOR PARK VISITORS AND FURTHER INCREASE PEDESTRIAN TRAFFIC TO THE AREA. IN MARCH 2013, THE SQUIBB PARK AND BRIDGE WERE OPENED TO THE PUBLIC. THESE ADDITIONS PROVIDE A VITAL CIRCULATION LINK FOR PEDESTRIANS NEAR THE CENTER OF THE PARK. THE BRIDGE'S PROXIMITY TO THE SURROUNDING COMMUNITY AND TO PUBLIC TRANSPORTATION OFFERS PARK VISITORS A CONVENIENT AND DRAMATIC APPROACH TO BROOKLYN BRIDGE PARK. IN APRIL 2013, CONSTRUCTION BEGAN ON PIER 4 BEACH. PIER 4 BEACH WILL OFFER AN ACCESSIBLE BEACH FOR LAUNCHING VARIOUS WATER CRAFT AND WILL BE SURROUNDED BY A CALM WATER ZONE FOR NON-MOTORIZED BOATING, ALLOWING BOTH EXPERIENCED AND NOVICE BOATERS TO PADDLE THE EAST RIVER. 6360872 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 7 0 32 1 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NY X X CEDRIC GADDY - CFO 7187246433 334 FURMAN STREET BROOKLYN NY 11201 ROBERT K STEEL 1.00 X 0 0 0 PETER ASCHKENASY 1.00 X 0 0 0 VERONICA WHITE 1.00 X 0 0 0 ANITA CONTINI 1.00 X 0 0 0 MARTIN CONNOR 1.00 X 0 0 0 PETER DAVIDSON 1.00 X 0 0 0 JUNY FRANCOIS 1.00 X 0 0 0 HENRY B GUTMAN 1.00 X 0 0 0 DAVID G OFFENSEND 1.00 X 0 0 0 SETH PINSKY 1.00 X 0 0 0 JOHN RASKIN 1.00 X 0 0 0 DANIEL E SIMMONS 1.00 X 0 0 0 NANETTE SMITH 1.00 X 0 0 0 ANNE STRAHLE 1.00 X 0 0 0 MATHEW WAMBUA 1.00 X 0 0 0 JOANNE WITTY 1.00 X 0 0 0 ADRIAN BENEPE 1.00 X 0 0 0 STEVEN LEVIN 1.00 X 0 0 0 REGINA MYER 35.00 X 164616 0 46506 CEDRIC GADDY 35.00 X 125032 0 30988 SUMA MANDEL 35.00 X 75346 0 12466 DAVID LOWIN 35.00 X 125000 0 41100 JEFFREY SANDGRUND 35.00 X 114539 0 27690 604533 0 158750 4 0 1 0 KELCO LANDSCAPING AND CONSTRUCTION 40 AUSTIN BOULEVARD COMMACK NY 11725 CONSTRUCTION 21463813 SKANSKA USA BUILDING INC 75-20 ASTORIA BLVD SUITE 200 ASTORIA NY 11370 CONSTRUCTION 3122067 PHOENIX CONSTRUCTION INC 132 SUTTON ST BROOKLYN NY 11222 CONSTRUCTION 2340278 TURNER CONSTRUCTION COMPANY 375 HUDSON STREET NEW YORK NY 10014 CONSTRUCTION 2189181 MICHAEL VAN VALKENBURGH ASSOCIATES INC 16 COURT STREET 11TH FLOOR BROOKLYN NY 11241 ARCHITECT 1842916 12 44188548 44188548 GROUND LEASE RENT 531390 1379917 1379917 PERMITS AND OTHER FEES 531390 973349 973349 PMTS. IN LIEU OF TAXES 531390 647826 647826 3001092 41082 41082 INSURANCE PROCEEDS 900099 158471 158471 OTHER INCOME 900099 72310 72310 230781 47461503 3001092 0 271863 448679 187769 260910 1233070 418559 814511 89491 26338 63153 325069 112373 212696 105781 37595 68186 200432 188432 12000 23027 23027 703197 645805 57392 128922 74789 54133 7129 3983 3146 2586004 2490956 95048 81147 78164 2983 REPAIRS AND MAINTENANCE 1168775 1168775 SECURITY 473115 473115 UTILITIES 235766 227101 8665 EQUIP. RENTAL/PURCHASES 161870 155932 5938 174387 71186 103201 8145861 6360872 1784989 0 981 13842001 48757447 23649043 177216 464637 1194 560 117942819 4423299 73059549 113519520 121996387 151475761 5912763 7348621 29712053 19161981 12708 19062 35637524 26529664 X 0 0 73059549 113577407 13299314 11368690 86358863 124946097 121996387 151475761 X 39315642 -728408 X 0 1 X 1 0 X 42593280 40503633 44188548 127285461 42593280 40503633 44188548 127285461 14355544 112929917 30774 31104 41082 102960 1620 52003 230781 284404 127672825 15483599 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ADMINISTRATIVE AND OTHER FEES - 2011 AMOUNT: $ 33,843. 2012 AMOUNT: $ 70,874. MISCELLANEOUS INCOME - 2010 AMOUNT: $ 1,620. 2011 AMOUNT: $ 18,160. 2012 AMOUNT: $ 1,436. INSURANCE PROCEEDS - 2012 AMOUNT: $ 158,471. SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE A, PART II, LINE 5 - EXPLANATION FOR EXCESS CONTRIBUTIONS: BBP RECEIVED DONATIONS TOTALING $234,630 AND $3,224,371, RESPECTIVELY, DURING THE YEARS ENDED JUNE 30, 2012 AND 2011 FROM A SINGLE DONOR. SUCH FUNDS WERE USED BY BBP TO REHABILITATE THE EMPIRE FULTON FERRY SECTION OF THE PARK. DURING THE YEAR ENDED JUNE 30, 2012, BBP RECEIVED A DONATION OF A RESTORED 1920'S CAROUSEL ("JANE'S CAROUSEL") ALONG WITH A STRUCTURE IN WHICH JANE'S CAROUSEL IS HOUSED FROM THE SAME DONOR. BBP RECORDED SUCH DONATED ASSETS AT THEIR ESTIMATED FAIR VALUE OF $13,450,000. SUCH FAIR VALUE WAS BASED UPON INDEPENDENT APPRAISALS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23916187 470750 23445437 501661 166170 335491 93524971 3786379 89738592 113519520 OTHER POSTEMPLOYMENT BENEFITS OBLIGATION 19062 19062 47461503 0 47461503 0 47461503 8874269 728408 728408 8145861 0 8145861 PART XII, LINE 2D - OTHER ADJUSTMENTS: IMPAIRMENT OF CAPITAL ASSETS 728,408. X 0 0 0 0 0 0 0 0 0 REGINA MYER 164616 0 0 0 0 0 22212 0 24294 0 211122 0 0 0 CEDRIC GADDY 125032 0 0 0 0 0 6923 0 24065 0 156020 0 0 0 DAVID LOWIN 125000 0 0 0 0 0 16827 0 24273 0 166100 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) NINE DIRECTORS, AT LEAST THREE OF WHOM SHALL BE EX OFFICIO DIRECTORS; (II) FOUR DIRECTORS, AT LEAST TWO OF WHOM SHALL BE COMMUNITY REPRESENTATIVES, UPON THE NOMINATION OF THE GOVERNOR OF THE STATE OF NEW YORK; (III) ONE DIRECTOR UPON THE NOMINATION OF THE STATE ASSEMBLY MEMBER, 52ND DISTRICT, OR ANY SUCCESSOR DISTRICT THAT INCLUDES THE BROOKLYN BRIDGE PARK; (IV) ONE DIRECTOR UPON THE NOMINATION OF THE STATE SENATOR, 25TH DISTRICT, OR ANY SUCCESSOR DISTRICT THAT INCLUDES THE BROOKLYN BRIDGE PARK; (V) ONE DIRECTOR UPON THE NOMINATION OF A MEMBER OF THE NEW YORK CITY COUNCIL TO BE DESIGNATED BY THE SPEAKER OF THE NEW YORK CITY COUNCIL; AND (VI) ONE DIRECTOR UPON THE NOMINATION OF THE PRESIDENT OF THE BROOKLYN BOROUGH. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FORM 990 WILL BE REVIEWED BY THE BBP AUDIT AND FINANCE COMMITTEE PRIOR TO FILING THE FORM. ONCE REVIEWED BY THE COMMITTEE, THE FORM 990 WILL BE DISTRIBUTED TO THE FULL BOARD FOR ITS REVIEW AND COMMENT, ALSO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BBP MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY BY REQUIRING EACH DIRECTOR TO COMPLETE A CONFLICT DISCLOSURE STATEMENT PROMPTLY AFTER APPOINTMENT AND ANNUALLY THEREAFTER. THE POLICY PROVIDES THAT IF A DIRECTOR VIOLATES ANY OF THE PROVISIONS OF THE POLICY, SUCH DIRECTOR SHALL BE SUBJECT TO AN APPROPRIATE REMEDY UNDER THE CIRCUMSTANCES, AND IN ADDITION TO ANY PENALTY CONTAINED IN ANY PROVISION OF LAW, THE DIRECTOR MAY BE SUBJECT AT THE BOARD'S DISCRETION, TO REMOVAL FOR CAUSE. OFFICERS OF THE CORPORATION ARE ALSO SUBJECT TO THE RESTRICTIONS SET FORTH IN CHAPTER 68 OF THE CITY CHARTER, WHICH IS THE CITY CONFLICT OF INTEREST POLICY. ADDITIONALLY, BBP COMPLIES WITH NEW YORK CITY CONFLICTS OF INTEREST BOARD ("COIB") REQUIREMENTS. BBP EMPLOYEES WHO MEET THE CRITERIA MUST FILE ANNUAL COIB FORMS; MEMBERS OF BBP'S BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLY WITH COIB AND TO FILE ANNUAL COIB FORMS OR EQUIVALENT NEW YORK STATE FORMS. FORM 990, PART VI, SECTION B, LINE 15 THE SENIOR MANAGEMENT OF THE CORPORATION INCLUDES THE PRESIDENT, GENERAL COUNSEL AND CHIEF FINANCIAL OFFICER. THE COMPENSATION OF THE PRESIDENT SHALL BE DETERMINED CONSIDERING FACTORS SUCH AS SKILL, EXPERIENCE, PAST PERFORMANCE, AND WORK HISTORY. THE COMPENSATION OF OTHER SENIOR MANAGEMENT STAFF SHALL BE DETERMINED BY THE PRESIDENT, CONSIDERING FACTORS SUCH AS EMPLOYEE SKILL, EXPERIENCE, PAST PERFORMANCE, WORK HISTORY AND POSITION. FORM 990, PART VI, SECTION C, LINE 19 BBP'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE POSTED ON ITS WEBSITE AND ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: IMPAIRMENT OF CAPITAL ASSETS -728,408.