Madison Square Park Conservancy Inc
- Assets
- $17.8m
- Revenue
- $6.0m
- Investments
- $315.1k
- Employees
- 42
- Location
- New York, NY
- Founding
- 02/2003
- Data as of
- 12/2021
- EIN
- 14-1859935
Organization Overview
Madison Square Park Conservancy Inc is located in New York, NY. The organization was established in 2003. According to its NTEE Classification (C12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Environment and related organizations. As of 12/2021, Madison Square Park Conservancy Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Square Park Conservancy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Madison Square Park Conservancy Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. While expenses have increased by 0.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO KEEPING HISTORIC MADISON SQUARE PARK A BRIGHT, BEAUTIFUL AND ACTIVE PUBLIC PARK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARK:THE MADISON SQUARE PARK CONSERVANCY RAISES THE FUNDS THAT SUPPORT THE HORTICULTURE, PARK MAINTENANCE, PARK SECURITY AND A VARIETY OF FREE CULTURAL PROGRAMS FOR ALL AGES. THE CONSERVANCY FUNDS APPROXIMATELY 98% OF THE COST OF PARK MAINTENANCE AND 100% OF THE COST OF SECURITY AND CULTURAL PROGRAMS. APPROXIMATELY 60,000 PEDESTRIANS FLOW THROUGH MADISON SQUARE PARK ON A GIVEN WEEKDAY.OUR MISSION IS TO PROTECT, NURTURE, AND ENHANCE MADISON SQUARE PARK, A DYNAMIC SEVEN-ACRE PUBLIC GREEN SPACE, CREATING AN ENVIRONMENT THAT FOSTERS MOMENTS OF INSPIRATION. AS STEWARDS, WE STRIVE TO ENGAGE THE COMMUNITY THROUGH OUR BEAUTIFUL GARDENS, INVITING AMENITIES, AND WORLD-CLASS PROGRAMMING. WE BELIEVE THAT IN AN URBAN SETTING EVERYONE DESERVES ACCESS TO A PARK THAT ALLOWS FOR RECREATION, RESPITE, AND REFLECTION.
ART PROGRAM:PUBLIC ART HAS THE ABILITY TO ENRICH, TO FASCINATE, AND TO ASTONISH. SINCE 2004, THE MAD. SQ. ART PROGRAM HAS BEEN PARTNERING WITH ACCLAIMED, VISIONARY ARTISTS TO REALIZE OUTDOOR WORK ON A MONUMENTAL SCALE, WORK THAT COMPLEMENTS AND ENHANCES THE ENVIRONMENT. THESE PROJECTS ARE FREE TO THE PUBLIC AND HAVE MADE MADISON SQUARE PARK A WORLD-RENOWNED CULTURAL DESTINATION. IN 2021, THE CONSERVANCY FEATURED EXHIBITIONS BY HUGH HAYDEN AND MAYA LIN WITH ON-SITE AND VIRTUAL PROGRAMMING.
PARK CAPITAL IMPROVEMENTS:IN OCTOBER 2021, MSPC BEGAN A COMPLETE RECONSTRUCTION OF THE PARK'S DOG RUN. $781,020 WAS PAID TOWARD THIS PROJECT IN 2021. THE PROJECT WAS COMPLETED IN AUGUST 2022.
SUSTAINABILITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Keats Myer Executive Director | Officer | 40 | $240,000 |
Brooke Kamin Rapaport Dep Dir & Martin Friedman Sr Curator | 40 | $168,635 | |
Thomas Reidy Dep Dir, Finance & Special Projects | 40 | $128,915 | |
Stephanie Lucas Dep Dir Of Horticulture & Operatoins | 40 | $126,577 | |
Nicole Rivers Dep Dir, Institutional Development | 40 | $113,004 | |
Leslie Spira Lopez Secretary | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Masterpiece International Venice Biennale Artwork Installation | 12/30/19 | $325,090 |
Uap North America Ltd Mad Sq Art Exhition Design Fabarication | 12/30/19 | $115,890 |
Solomon R Guggenheim Foundation Venice Biennale Exhibition Management | 12/30/19 | $115,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $423,611 |
| Related organizations | $0 |
| Government grants | $804,252 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,989,051 |
| Noncash contributions included in lines 1a–1f | $86,131 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,216,914 |
| Total Program Service Revenue | $1,284,199 |
| Investment income | $350,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $64,271 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,971,586 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $283,458 |
| Compensation of current officers, directors, key employees. | $113,383 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,809,317 |
| Pension plan accruals and contributions | $44,675 |
| Other employee benefits | $334,279 |
| Payroll taxes | $179,799 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,874 |
| Fees for services: Accounting | $35,223 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,062 |
| Fees for services: Other | $1,630,452 |
| Advertising and promotion | $0 |
| Office expenses | $93,290 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $124,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,727 |
| Insurance | $41,846 |
| All other expenses | $65,123 |
| Total functional expenses | $5,247,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $228,215 |
| Savings and temporary cash investments | $2,770,392 |
| Pledges and grants receivable | $1,507,307 |
| Accounts receivable, net | $31,656 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $338,883 |
| Net Land, buildings, and equipment | $241,859 |
| Investments—publicly traded securities | $12,325,115 |
| Investments—other securities | $315,141 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,758,568 |
| Accounts payable and accrued expenses | $471,335 |
| Grants payable | $0 |
| Deferred revenue | $73,229 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $180,592 |
| Total liabilities | $725,156 |
| Net assets without donor restrictions | $2,311,029 |
| Net assets with donor restrictions | $14,722,383 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,758,568 |
Grants Recieved
Over the last fiscal year, we have identified 34 grants that Madison Square Park Conservancy Inc has recieved totaling $1,228,739.
| Awarding Organization | Amount |
|---|---|
The@wendy E Scripps Foundation Plainview, NY PURPOSE: GENERAL | $230,000 |
The Ruth Stanton Foundation New York, NY PURPOSE: GENERAL FUND | $226,000 |
Charina Endowment Fund Inc New York, NY PURPOSE: GENERAL SUPPORT | $150,000 |
Credit Suisse Americas Foundation New York, NY PURPOSE: GENERAL OPERATING | $115,058 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ENVIRONMENTAL AND ANIMALS | $78,600 |
Nandansons Charitable Foundation Inc Edison, NJ PURPOSE: GENERAL SUPPORT | $60,000 |
Endowment Analysis
| Beg. Balance | $10,988,708 |
| Earnings | $790,554 |
| Ending Balance | $11,779,262 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Bay Health Care Tr Fund Lexington, MA | $12,775,063 | $19,479,998 |
Save The Sound Inc New Haven, CT | $16,166,777 | $7,096,734 |
Madison Square Park Conservancy Inc New York, NY | $17,758,568 | $5,971,586 |
Climate Group Inc New York, NY | $1,626,352 | $3,142,770 |
Maliasili Initiatives Inc Essex Junction, VT | $4,153,598 | $3,854,064 |
Alexander Foundation Inc New York, NY | $78,432,916 | $6,451,996 |
Capital Resource Conservation And Development Inc Carlisle, PA | $207,381 | $1,125,341 |
Tourism Cares Inc Norwood, MA | $2,148,186 | $1,174,349 |
Ashoka Trust For Research In Ecology And The Environment Inc Belmont, MA | $896,848 | $1,011,869 |
Woolrich Outdoor Foundation New York, NY | $94,874 | $697,419 |
East Park Leadership And Conservation Center Philadelphia, PA | $16,580,928 | $408,539 |
Shore Fund Pittsburgh, PA | $7,746,765 | $1,226,932 |