World Trade Center Performing Arts Center Inc

Organization Overview

World Trade Center Performing Arts Center Inc, operating under the name Ronald O Perelman Center For The Performing Arts Center, is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Ronald O Perelman Center For The Performing Arts Center employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ronald O Perelman Center For The Performing Arts Center 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, Ronald O Perelman Center For The Performing Arts Center generated $148.5m in total revenue. All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 19.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PERFORMING ARTS CENTER (PAC) WILL CONTRIBUTE TO THE REVITALIZATION OF LOWER MANHATTAN BY WELCOMING A DIVERSE PUBLIC AND PRODUCING AND PRESENTING THEATER, DANCE, MUSIC, AND OTHER PERFORMING ARTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ARTISTIC AND PROGRAM:THE PAC'S INAUGURAL ARTISTIC DIRECTOR BILL RAUCH, HAS BEEN FULLY ENGAGED IN PLANNING FUTURE SEASONS, WORKING WITH ARTISTS AND OTHER CULTURAL ORGANIZATIONS TO DEVELOP AND PRESENT PROJECTS. THE PERELMAN WILL HAVE A RICH, DIVERSE PROGRAM OF PERFORMING ARTS.


CONSTRUCTION MANAGEMENT, DESIGN AND FACILITIES PLANNING:SCIAME CONSTRUCTION, SERVING AS CONSTRUCTION MANAGER, IS CONTINUING CONSTRUCTION ACTIVITIES AT THE SITE. STRUCTURAL STEEL AND CONCRETE WORK IS COMPLETE. EXTERIOR FACADE FABRICATION AND INSTALLATION SUBSTANTIALLY COMPLETE. ROOFING, ELEVATOR, THEATER AND LOBBY MILLWORK FABRICATION AND THEATER DOOR AND THEATER RIGGING INSTALLATION WORK IN PROGRESS. PROJECT MANAGEMENT, DESIGN AND CONSTRUCTION COSTS OF $137,281,158 WERE INCURRED IN 2021 AND CAPITALIZED AS CONSTRUCTION IN PROGRESS. THE PRESIDENT IS ACTIVELY INVOLVED IN ALL ASPECTS OF CONSTRUCTION AND DESIGN, WITH EXTENSIVE INPUT FROM THE ARTISTIC DIRECTOR ON DESIGN OF THEATERS AND PUBLIC SPACES.


ORGANIZATION DEVELOPMENT AND PLANNING:THE PRESIDENT, LESLIE KOCH, IS FOCUSED ON PREPARING AND PLANNING FOR ALL ASPECTS OF THE ORGANIZATION'S FUTURE, INCLUDING GOVERNANCE, MANAGEMENT BUSINESS PLANNING, MARKETING AND OPERATIONS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Davis Brody Bond
Architectural Services
$2,976,802
Charcoalblue Llc
Theater Consulting Services
$229,230
Rex
Architectural Services
$696,837
Sciame Construction Llc
Construction Services
$121,260,211
Bureau Veritas North America Inc
Construction Services
$663,683
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $26,123,198
All other contributions, gifts, grants, and similar amounts not included above$122,344,285
Noncash contributions included in lines 1a–1f $373,094
Total Revenue from Contributions, Gifts, Grants & Similar$148,467,483
Total Program Service Revenue$0
Investment income $32,188
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$6,526
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $148,493,145

Grants Recieved

Over the last fiscal year, we have identified 13 grants that World Trade Center Performing Arts Center Inc has recieved totaling $97,177,134.

Awarding OrganizationAmount
Bloomberg Family Foundation Inc

New York, NY

PURPOSE: CAPITAL PROJECT

$90,000,000
Goldman Sachs Charitable Gift Fund

New York, NY

PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS

$1,434,467
The Zegar Family Foundation

New York, NY

PURPOSE: GENERAL PURPOSE CONTRIBUTION

$1,000,000
The@macmillan Family Foundation Inc

New York, NY

PURPOSE: GENERAL PURPOSE

$1,000,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$1,000,000
Secunda Family Foundation Inc

New York, NY

PURPOSE: GENERAL PURPOSE CONTRIBUTION

$1,000,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,009,708
Earnings$520
Ending Balance$1,010,228

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