2013-02-15T14:07:39-06:00 2012-06-30 113518842 MARKS PANETH & SHRON LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2011-07-01 272683349 GOVERNORS ISLAND CORPORATION GOVE 2124402200 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 LESLIE KOCH 2124402200 2013-02-19 1 ROBERT R LYONS P00227472 2125038800 2011 2016-02-25 16:41:14Z THE TRUST FOR GOVERNORS ISLAND LESLIE KOCH 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 38058297 0 X WWW.GOVISLAND.COM X 2010 NY THE TRUST FOR GOVERNORS ISLAND (THE "TRUST" OR "TGI") IS A NEW YORK STATE NOT-FOR-PROFIT CORPORATION CREATED BY THE CITY OF NEW YORK THAT IS RESPONSIBLE FOR THE PLANNING, REDEVELOPMENT AND ONGOING OPERATIONS OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO TRANSFORM GOVERNORS ISLAND INTO A DESTINATION WITH GREAT PUBLIC OPEN SPACE, AS WELL AS EDUCATIONAL, NOT-FOR-PROFIT AND COMMERCIAL FACILITIES. THE TRUST IS BREAKING GROUND ON 30 ACRES OF NEW PARK SPACE SCHEDULED TO OPEN IN 2013 AND PROCEEDING WITH AN AMBITIOUS INFRASTRUCTURE PROGRAM TO READY THE ISLAND FOR EXPANDED TENANCY AND ACTIVITY. 13 13 19 0 0 0 42134293 36511792 1769582 1468389 29958 24554 0 53562 43933833 38058297 0 0 0 0 1846960 1750388 0 0 0 12724279 11745168 14571239 13495556 29362594 24562741 33086802 71616437 3724208 17966102 29362594 53650335 X THE TRUST IS A NEW YORK STATE NOT-FOR-PROFIT CORPORATION CREATED BY THE CITY OF NEW YORK THAT IS RESPONSIBLE FOR THE PLANNING, REDEVELOPMENT AND ONGOING OPERATIONS OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO TRANSFORM GOVERNORS ISLAND INTO A DESTINATION WITH GREAT PUBLIC OPEN SPACE, AS WELL AS EDUCATIONAL, NOT-FOR-PROFIT AND COMMERCIAL FACILITIES. THE TRUST IS BREAKING GROUND ON 30 ACRES OF NEW PARK SPACE SCHEDULED TO OPEN IN 2013 AND PROCEEDING WITH AN AMBITIOUS INFRASTRUCTURE PROGRAM TO READY THE ISLAND FOR EXPANDED TENANCY AND ACTIVITY. 0 0 12619154 1468389 TGI MANAGES ALL CURRENT OPERATIONS ON THE ISLAND AND AT THE SAME TIME IS PLANNING FOR ITS REDEVELOPMENT. TGI PROVIDES FERRY, CUSTODIAL, GROUNDS KEEPING AND SECURITY SERVICES FOR THE ISLAND THROUGH A FACILITIES AND CONSTRUCTION MANAGEMENT CONTRACT. THIS CONTRACT ALSO PROVIDES FOR ONGOING REPAIR AND MAINTENANCE WORK, INCLUDING THE PRESERVATION OF HISTORIC STRUCTURES. DURING THE PUBLIC ACCESS SEASON, WHICH RUNS ON WEEKENDS FROM MEMORIAL DAY THROUGH THE END OF SEPTEMBER, HUNDREDS OF THOUSANDS OF NEW YORKERS AND VISITORS COME TO THE ISLAND BY FREE FERRIES FROM MANHATTAN AND BROOKLYN. ONCE ON THE ISLAND, VISITORS EXPERIENCE A DIVERSE ARRAY OF ARTS, CULTURAL AND RECREATIONAL PROGRAMS, THE MAJORITY OF WHICH ARE FREE. TGI IS ALSO REDEVELOPING GOVERNORS ISLAND AND HAS UNDERTAKEN AN AMBITIOUS CAPITAL PROGRAM TO BRING THE ISLAND'S INFRASTRUCTURE INTO TO THE 21ST CENTURY AND BUILD EXTRAORDINARY NEW PARK AND PUBLIC SPACES. THE FIRST PHASE IS PLANNED TO ADD KEY VISITOR AMENITIES THROUGHOUT THE HISTORIC DISTRICT AND 30 NEW ACRES OF PARK ON THE ISLAND'S SOUTHERN END. CAPITAL INVESTMENTS ARE ALSO PLANNED TO BRING POTABLE WATER TO THE ISLAND, UPGRADE ITS ELECTRICAL AND TELECOMMUNICATION SYSTEMS, STABILIZE HISTORIC BUILDINGS, REHABILITATE THE SEAWALL AND STORM WATER SYSTEMS, AND ENSURE SAFE FERRY OPERATIONS AT THE DOCKS ON-ISLAND AND AT THE BATTERY MARITIME BUILDING IN MANHATTAN. 12619154 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 1 0 0 0 0 0 0 0 0 0 1 1 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 0 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 JEFFREY H LYNFORD 1.00 X 0 0 0 JULIE MENIN 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 166819 0 45584 JONATHAN MEYERS 35.00 X 136864 0 44877 PAUL KELLY 35.00 X 141209 0 45871 WILLA PADGETT 35.00 X 60388 0 4049 TERENCE WILLIAMS 35.00 X 111484 0 38740 616764 0 179121 4 0 1 0 TURNER CONSTRUCTION COMPANY 375 HUDSON STREET NEW YORK NY 10014 FACILIITES/ CONSTRUCTION MGMT. 12061082 WEST 8 NEW YORK INC 333 HUDSON STREET SUITE 905 NEW YORK NY 10013 LANDSCAPE ARCHITECTURE 3691405 AKRF INC 440 PARK AVENUE SOUTH NEW YORK NY 10016 ENVIRONMENTAL CONSULTATION 439350 3 35636192 875600 300000 36511792 PERMITS AND OTHER FEES 531390 1468389 1468389 1468389 24554 24554 OTHER INCOME 900099 53562 53562 53562 38058297 1468389 0 78116 740970 533764 207206 672481 376494 295987 68347 57374 10973 157908 66549 91359 110682 100721 9961 99000 99000 25000 25000 61708 61708 14258 14258 305966 275369 30597 5592 5592 695085 675946 19139 54314 48883 5431 FACILITIES MANAGEMENT 10404527 10404527 OTHER EXPENSES 79718 17819 61899 13495556 12619154 876402 0 11856419 17685402 7422976 104898 228742 9544 3138 47536897 1285718 21115941 46251179 25000 33086802 71616437 3383304 10066145 173171 7703768 167733 196189 3724208 17966102 X 0 0 28041926 46251179 1320668 7399156 29362594 53650335 33086802 71616437 X 24562741 -275000 X 0 1 1 X 1 1 X 42134293 36511792 78646085 42134293 36511792 78646085 78646085 29958 24554 54512 53562 53562 78754159 3237971 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 5711460 941727 4769733 41825436 343991 41481445 46251179 OTHER POSTEMPLOYMENT BENEFITS OBLIGATION 196189 196189 38058297 13495556 24562741 -275000 -275000 24287741 38058297 0 38058297 0 38058297 13770556 275000 275000 13495556 0 13495556 PART XIII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INVESTMENT 275,000. X 0 0 0 0 0 0 0 0 0 LESLIE KOCH 166819 0 0 0 0 0 20388 0 25196 0 212403 0 0 0 JONATHAN MEYERS 136864 0 0 0 0 0 19681 0 25196 0 181741 0 0 0 PAUL KELLY 141209 0 0 0 0 0 20675 0 25196 0 187080 0 0 0 TERENCE WILLIAMS 111484 0 0 0 0 0 13628 0 25112 0 150224 0 0 0 X 1 300000 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 TO SUPPORT ITS ACTIVITIES, THE CORPORATION ENTERED INTO A CONTRACT 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 SET FORTH IN THE AGREEMENT, EDC IS TO PROVIDE THE CORPORATION WITH PROFESSIONAL, CLERICAL AND TECHNICAL ASSISTANCE IT NEEDS TO ACCOMPLISH ITS OBJECTIVES. THESE SERVICES INCLUDE ACCOUNTING, HUMAN RESOURCES, BANKING SERVICES, MANAGEMENT INFORMATION, COMPLIANCE AND SIMILAR SERVICES. 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 AND AUDITED FINANCIAL STATEMENTS ARE POSTED ON ITS WEBSITE. TGI'S CONFLICT OF INTEREST POLICY HAS NOT YET BEEN POSTED. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -275,000.