2026-04-28T11:09:17-05:00 2025-06-30 873707167 CBIZ ADVISORS LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2024-07-01 272683349 GOVERNORS ISLAND CORPORATION GOVE 2124402200 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 CLARE NEWMAN PRESIDENT 2124402200 2026-04-24 1 1 FRANK SMITH P00639053 2125038800 2026-04-17 2024 2025-03-06 01:10:19Z THE TRUST FOR GOVERNORS ISLAND CLARE NEWMAN 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 65341356 0 X WWW.GOVISLAND.ORG 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 REALIZE THE FULL POTENTIAL OF GOVERNORS ISLAND FOR THE INSPIRATION AND ENJOYMENT OF ALL NEW YORKERS, DEMONSTRATING A BOLD VISION FOR PUBLIC SPACE. 16 16 95 16 0 0 56349918 55283313 8591618 9631230 268203 341311 882323 70141 66092062 65325995 0 0 0 0 9616480 10045203 0 0 67523 47880116 46269602 57496596 56314805 8595466 9011190 385935347 401467685 53263163 59728016 332672184 341739669 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 REALIZE THE FULL POTENTIAL OF GOVERNORS ISLAND FOR THE INSPIRATION AND ENJOYMENT OF ALL NEW YORKERS, DEMONSTRATING A BOLD VISION FOR PUBLIC SPACE. 0 0 48299448 9686908 THE TRUST IS RESPONSIBLE FOR THE OPERATION, PLANNING AND REDEVELOPMENT OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST PROVIDES FERRY, SECURITY AND MAINTENANCE SERVICES FOR THE ISLAND, ITS VISITORS AND TENANTS, AS WELL AS THE URBAN ASSEMBLY HARBOR SCHOOL LOCATED ON THE ISLAND. SINCE 2024, GOVERNORS ISLAND HAS BEEN OPEN TO THE PUBLIC YEAR ROUND, AND EVERY SEASON VISITORS MAY EXPERIENCE AN ARRAY OF ARTS, CULTURAL AND RECREATIONAL PROGRAMS, AS WELL AS FOOD AND BEVERAGES ON OFFER FROM ISLAND VENDORS. THROUGH AN INITIAL CAPITAL IMPROVEMENT PROGRAM, THE TRUST BUILT 30 ACRES OF NEW PARK SPACE, WHICH OPENED IN 2014, FOLLOWED BY AN EXPANSION IN 2016, WHEN THE HILLS OPENED. ADDITIONAL CAPITAL INVESTMENT, COMPLETED AND ONGOING, INCLUDES WORK ON THE FERRY INFRASTRUCTURE (DOCKS AND VESSELS), SEAWALL, ELECTRICAL SYSTEM, POTABLE WATER AND OTHER UTILITY SYSTEMS, AS WELL AS NUMEROUS HISTORIC BUILDING STABILIZATION AND RENOVATION PROJECTS. 48299448 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 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 55 0 1 95 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X WILLA PADGETT - CHIEF FINANCIAL OFF 2124402227 10 SOUTH STREET SLIP 7 NEW YORK NY 10004 ALICE BLANK BOARD MEMBER 1.00 X 0 0 0 ALICIA GLEN CHAIR 1.00 X X 0 0 0 BENJAMIN LAWSKY BOARD MEMBER 1.00 X 0 0 0 CARL WEISBROD BOARD MEMBER 1.00 X 0 0 0 CAROLEE FINK BOARD MEMBER 1.00 X 0 0 0 CHRISTIAN BRANEON BOARD MEMBER 1.00 X 0 0 0 DANIEL NEIDICH BOARD MEMBER 1.00 X 0 0 0 DANIEL SQUADRON BOARD MEMBER (OUTGOING) 1.00 X 0 0 0 EB KELLY BOARD MEMBER 1.00 X 0 0 0 GAURAV KAPADIA BOARD MEMBER 1.00 X 0 0 0 JAMES KELLY MCGOWAN BOARD MEMBER (OUTGOING) 1.00 X 0 0 0 KAREN HOPKINS BOARD MEMBER (OUTGOING) 1.00 X 0 0 0 MARC NORMAN BOARD MEMBER 1.00 X 0 0 0 MICHAEL OPPENHEIMER BOARD MEMBER 1.00 X 0 0 0 RICHARD CORMAN BOARD MEMBER 1.00 X 0 0 0 SUSAN MERCANDETTI BOARD MEMBER 1.00 X 0 0 0 TIM CAWLEY BOARD MEMBER 1.00 X 0 0 0 TOKUMBO SHOBOWALE BOARD MEMBER 1.00 X 0 0 0 WENDY BRAWER BOARD MEMBER 1.00 X 0 0 0 ALEXANDER BRADY CHIEF REAL ESTATE OFFICER 35.00 X 161730 0 49721 CHRISTOPHER TEPPER CHIEF DEVELOPMENT OFFICER (OUTGOING) 35.00 X 226024 0 73235 CLARE NEWMAN PRESIDENT/CEO 35.00 X 248023 0 96645 DANIEL HANTMAN GENERAL COUNSEL 35.00 X 204777 0 75245 JENNIFER RENTAS COO 35.00 X 144502 0 16797 WILLA PADGETT CFO 35.00 X 201656 0 31553 ANDRE BELL SENIOR DIRECTOR, FACILITIES 35.00 X 147114 0 61070 ANDRE SHKOZA ASST. CHIEF ENGINEER 35.00 X 157246 0 0 ROGER KENNEDY CHIEF ENGINEER 35.00 X 196186 0 0 SARAH KRAUTHEIM VP, PUBLIC AFFAIRS 35.00 X 187099 0 46166 WILLIAM JOHNSON SENIOR DIRECTOR 35.00 X 162796 0 22624 2037153 0 473056 25 0 1 0 LIRO GROUP 3 AERIAL WAY SYOSSET NY 11791 CONSTRUCTION MANAGEMENT 17884212 ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON STREET CONSHOHOCKEN PA 19428 SECURITY SERVICES 2007240 REICON GROUP LLC 1983 RICHMOND TERRACE STATEN ISLAND NY 10302 PILE CLUSTER REHABILITATION 1242120 JACOB FEINBERG KATZ & MICHAEL CONSULTING 134 WEST 37TH 12TH FLOOR NEW YORK NY 10018 SUBSTATION DESIGN 950130 INTELLIGENT CROWD SOLUTIONS (ICROWD) LLC 221W 77TH ST STE 11 WEST NY NY 10024 EMERGENCY MEDICAL SERVICES 832889 11 50834780 4448533 55283313 PERMITS AND OTHER FEES 531390 5316478 5316478 LEASES 531390 2362952 2362952 RENTAL INCOME 531390 1951800 1951800 9631230 355774 355774 14463 -14463 -14463 -14463 4047 898 3149 3149 OTHER INCOME 900099 66619 66619 TELECOM REIMBURSEMENT 900099 373 373 66992 65325995 9686908 0 355774 X 1347960 1178306 134796 34858 5781067 5187939 578107 15021 409345 367822 40935 588 1527665 1364504 152767 10394 979166 874587 97917 6662 561580 561580 64750 64750 15726609 15573451 153158 76455 76455 210132 130809 79323 222493 222493 1562770 1411218 151552 144446 144446 219 219 25112083 20089666 5022417 191033 171930 19103 GIF SERVICES 1015000 1015000 SPECIAL PROJECTS 499918 499918 ART WORK SUPPLIES 218849 196964 21885 PROGRAMMING 169900 152910 16990 493365 19455 473910 56314805 48299448 7947834 67523 170 170 3398488 3600951 6876398 10287572 1193856 1289786 39193300 44230491 8123 102960 123975 550335497 225374140 318738176 324961357 7177313 8903739 9254686 8061521 385935347 401467685 12419654 13752240 1467820 2477438 39375689 43498338 53263163 59728016 X 0 0 318738176 324961357 13934008 16778312 332672184 341739669 385935347 401467685 X 9011190 258134 -201839 X X 0 1 X 1 1 1 X 26602210 37685556 56210899 56349918 55283313 232131896 26602210 37685556 56210899 56349918 55283313 232131896 232131896 28211 72486 195535 268203 355774 920209 49747 60818 50182 882323 66992 1110062 234162167 37468716 0.99130 0.99180 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 6,687. 2021 AMOUNT: $ 13,129. 2022 AMOUNT: $ 12,633. 2023 AMOUNT: $ 863,558. 2024 AMOUNT: $ 66,619. TELECOM REIMBURSEMENT - 2020 AMOUNT: $ 43,060. 2021 AMOUNT: $ 47,689. 2022 AMOUNT: $ 37,549. 2023 AMOUNT: $ 18,765. 2024 AMOUNT: $ 373. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 64750 64750 56250055 56314805 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 17375 22500 45535 64750 150160 250000 250000 250000 250000 1000000 1500000 PART II-B, LINE 1, LOBBYING ACTIVITIES: THE LOBBYING EFFORTS ARE ASSOCIATED WITH COMMUNICATING THE TRUST'S MISSION AND PLANS FOR GROWTH TO LOCAL, STATE AND FEDERAL OFFICIALS AND ADVOCATING FOR CAPITAL PROJECT FUNDING FROM GOVERNMENT SOURCES. 1 1 22814898 15909590 6905308 527520598 209464550 318056048 324961357 SECURITY DEPOSITS 5692367 LEASE 37323516 COMPENSATED ABSENCES 482455 43498338 69553424 258134 3968397 4226531 65326893 -898 -898 65325995 60598383 4283578 4283578 56314805 0 56314805 PART XI, LINE 2D - OTHER ADJUSTMENTS: COMPONENT UNIT FOUNDATION'S REVENUE 3,968,397. PART XI, LINE 4B - OTHER ADJUSTMENTS: MERCHANDISE COST -898. PART XII, LINE 2D - OTHER ADJUSTMENTS: COMPONENT UNIT FOUNDATION'S EXPENSE 4,282,680. MERCHANDISE COST 898. X X 0 0 0 0 0 0 0 0 0 CLARE NEWMAN PRESIDENT/CEO 247520 0 0 0 503 0 35453 0 61192 0 344668 0 0 0 CHRISTOPHER TEPPER CHIEF DEVELOPMENT OFFICER (OUTGOING) 225576 0 0 0 448 0 32211 0 41024 0 299259 0 0 0 DANIEL HANTMAN GENERAL COUNSEL 204319 0 0 0 458 0 15582 0 59663 0 280022 0 0 0 SARAH KRAUTHEIM VP, PUBLIC AFFAIRS 186848 0 0 0 251 0 26422 0 19744 0 233265 0 0 0 WILLA PADGETT CFO 199324 0 0 0 2332 0 28353 0 3200 0 233209 0 0 0 ALEXANDER BRADY CHIEF REAL ESTATE OFFICER 161422 0 0 0 308 0 22953 0 26768 0 211451 0 0 0 ANDRE BELL SENIOR DIRECTOR, FACILITIES 146661 0 0 0 453 0 17046 0 44024 0 208184 0 0 0 ROGER KENNEDY CHIEF ENGINEER 196186 0 0 0 0 0 0 0 0 0 196186 0 0 0 WILLIAM JOHNSON SENIOR DIRECTOR 161599 0 0 0 1197 0 22624 0 0 0 185420 0 0 0 JENNIFER RENTAS COO 144196 0 0 0 306 0 4362 0 12435 0 161299 0 0 0 ANDRE SHKOZA ASST. CHIEF ENGINEER 157246 0 0 0 0 0 0 0 0 0 157246 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS THREE (3) MEMBERS, BEING THE INDIVIDUAL HOLDING THE OFFICE OF MAYOR ("MAYOR") OF THE CITY OF NEW YORK (THE "CITY"), THE INDIVIDUAL HOLDING THE OFFICE OF FIRST DEPUTY MAYOR OF THE CITY (OR ITS SUCCESSOR OFFICE), AND THE INDIVIDUAL HOLDING THE OFFICE OF DEPUTY MAYOR OF HOUSING AND ECONOMIC DEVELOPMENT OF THE CITY (OR ITS SUCCESSOR OFFICE), OR EACH SUCH INDIVIDUAL'S AUTHORIZED DELEGATE. ANY SUCH DELEGATION MUST BE MADE IN WRITING AND FILED WITH THE RECORDS OF THE CORPORATION. THE MEMBERS, AS OFFICIALS OF THE CITY, SERVE AS MEMBERS IN FURTHERANCE OF THE INTERESTS OF THE CITY FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS, UPON A MAJORITY VOTE, SHALL BE ENTITLED TO APPOINT SEVENTEEN (17) DIRECTORS OF THE CORPORATION, AS SET FORTH BELOW: (I) TEN DIRECTORS, APPOINTED BY THE MEMBERS IN THEIR CAPACITIES AS OFFICIALS OF THE CITY; (II) ONE DIRECTOR WHO SHALL RESIDE IN BROOKLYN, APPOINTED BY THE MEMBERS IN THEIR CAPACITIES AS OFFICIALS OF THE CITY; (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; (VI) ONE DIRECTOR UPON THE NOMINATION OF THE GOVERNOR OF THE STATE OF NEW YORK; (VII) ONE DIRECTOR UPON THE NOMIATION OF THE CITY COUNCIL MEMBER FOR DISTRICT 1, OR ANY SUCCESSOR DISTRICT THAT INCLUDES GOVERNORS ISLAND; AND (VIII) ONE DIRECTOR UPON THE NOMINATION OF THE MANHATTAN BOUROUGH PRESIDENT, OR ANY SUCCESSOR BOROUGH THAT INCLUDES GOVERNORS ISLAND. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MAY TAKE ACTION, INCLUDING FOR THE APPOINTMENT OF DIRECTORS, BY WRITTEN CONSENT, WAIVING ANY NOTICE AND OTHER REQUIREMENTS UNDER THESE BY-LAWS AND THE NOT-FOR-PROFIT CORPORATION LAW. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED IN DETAIL BY TGI'S AUDIT COMMITTEE PRIOR TO FILING THE FORM. ONCE REVIEWED BY THE COMMITTEE, THE FORM 990 IS DISTRIBUTED TO THE FULL BOARD (VIA E-MAIL) FOR ITS REVIEW AND COMMENT, ALSO PRIOR TO FILING WITH THE IRS. 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 15A THE SENIOR MANAGEMENT OF THE GOVERNORS ISLAND CORPORATION D/B/A THE TRUST FOR GOVERNORS ISLAND ("THE TRUST") INCLUDES THE PRESIDENT, CHIEF REAL ESTATE OFFICER, CHIEF FINANCIAL OFFICER, GENERAL COUNSEL, AND CHIEF OPERATING OFFICER. 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 IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 15,573,451. MANAGEMENT AND GENERAL EXPENSES 40,459. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,613,910. PAYROLL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 112,699. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 112,699. FORM 990, PART XI, LINE 9: CHANGE IN ACCOUNTING PRINCIPLE -201,839. FORM 990, PART XII, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR HAS NOT CHANGED FROM THE PRIOR YEAR.