World Trade Center Performing Arts Center Inc

Organization Overview

World Trade Center Performing Arts Center Inc, operating under the name The Perelman Center 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 12/2019, Perelman Center Center employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Perelman Center Center generated $155.5m in total revenue. All expenses for the organization totaled $4.0m during the year ending 12/2019. While expenses have increased by 28.1% per year over the past 5 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

2019

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

CONSTRUCTION MANAGEMENT, DESIGN AND FACILITIES PLANNING:ABOVE GRADE CONSTRUCTION OF THE BUILDING BEGAN IN SEPTEMBER 2019. SCIAME CONSTRUCTION, SERVING AS CONSTRUCTION MANAGER, MADE AWARDS FOR SUBCONTRACTS INCLUDING SUPERSTRUCTURE CONCRETE, EXTERIOR STONE PLINTH INSTALL, PLUMBING, HVAC PIPING, HVAC SHEET METAL, ELECTRICAL CORE & SHELL, ELECTRICAL ABOVE GRADE FITOUT, THEATER SEATING TOWERS, FIRE PROTECTION AND HOIST. CONCRETE, STEEL, MEP AND STONE AND CURTAIN WALL FABRICATION ADVANCED SIGNIFICANTLY IN 2019. THE DESIGN TEAM (REX, CHARCOALBLUE AND DAVIS BRODY BOND) ADVANCED INTO CONSTRUCTION DOCUMENTS. PROJECT MANAGEMENT, DESIGN AND CONSTRUCTION COSTS OF $80,449,709 WERE INCURRED IN 2019 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 PAC MADE A TRANSITION IN THE PRESIDENT POSITION, WITH LESLIE KOCH, FORMER PRESIDENT OF THE TRUST FOR GOVERNORS ISLAND, JOINING IN JULY 2019. THE PRESIDENT IS FOCUSSED ON PREPARING AND PLANNING FOR ALL ASPECTS OF THE ORGANIZATION'S FUTURE, INCLUDING GOVERNANCE, MANAGEMENT, BUSINESS PLANNING, MARKETING AND OPERATIONS.


ARTISTIC AND PROGRAM:IN AUGUST 2019, THE PAC'S INAUGURAL ARTISTIC DIRECTOR BILL RAUCH, APPOINTED IN 2018, ASSUMED HIS ROLE FULL TIME RESIDENT IN NYC. 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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Sciame Construction Llc
Construction
$51,466,156
Davis Brody Bond
Architectural Services
$5,501,570
Rex Architecture Pc
Architectural Services
$952,447
Charcoalblue Llc
Architectural Services
$940,000
Wsp Usa Building Inc
Engineering
$513,896
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $18,022,432
All other contributions, gifts, grants, and similar amounts not included above$137,281,587
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$155,304,019
Total Program Service Revenue$0
Investment income $169,417
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $155,473,954

Grants Recieved

Over the last fiscal year, we have identified 4 grants that World Trade Center Performing Arts Center Inc has recieved totaling $2,060,000.

Awarding OrganizationAmount
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: GENERAL SUPPORT

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

Charlotte, NC

PURPOSE: GENERAL SUPPORT

$1,000,000
Karin Bain And John Kukral Foundation

Old Greenwich, CT

PURPOSE: THE PERELMAN CENTER

$50,000
Jewish Communal Fund

New York, NY

PURPOSE: General support

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,000,000
Earnings$7,313
Ending Balance$1,007,313

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