2023-12-13T18:22:44-06:00 2022-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2022-01-01 455316035 WORLD TRADE CENTER PERFORMING ARTS CENTER INC WORL 2122663000 ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 KHADY KAMARA EXECUTIVE DIRECTOR 2122663000 2023-12-13 1 KHADY KAMARA XXX-XX-XXXX 1 EVA MRUK P00543254 2122862600 2023-12-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RONALD O PERELMAN CENTER FOR THE PERFORMING ARTS KHADY KAMARA ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 85378714 0 X PACNYC.ORG X 2012 NY 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. 31 31 72 32 0 0 148467483 73978694 0 0 25662 -362163 0 5770055 148493145 79386586 0 0 0 0 2121512 3159934 314000 288000 1692861 1513612 5479454 3949124 8927388 144544021 70459198 505865812 588355179 25801287 38205515 480064525 550149664 X THE PERELMAN PERFORMING ARTS CENTER CREATES CONNECTIONS BY CULTIVATING BONDS BETWEEN EXTRAORDINARY ARTISTS AND COMMUNITIES WITH EXEMPLARY PERFORMANCES IN ACTIVE DIALOGUE ACROSS THE ARTS IN OUR FLEXIBLE INTIMATE SPACES, INVITING CONVERSATION AND NEW RELATIONSHIPS. OUR ART AND OUR AUDIENCES REFLECT THE DYNAMIC ENERGY OF ALL FIVE BOROUGHS OF NEW YORK CITY. OUR WORK ASKS ALL OF US TO CONSIDER AND EMBRACE THE COMPLEXITIES OF SOCIETY. TOGETHER, WE WELCOME THE ENTIRE WORLD. THE PERELMAN PERFORMING ARTS CENTER IS WHERE THE WORLD TRADES IDEAS. 0 0 3071825 0 0 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. 1290001 0 0 ORGANIZATION DEVELOPMENT AND PLANNING:MANAGEMENT IS FOCUSED ON PREPARING AND PLANNING FOR ALL ASPECTS OF THE ORGANIZATION'S FUTURE, INCLUDING GOVERNANCE, MANAGEMENT BUSINESS PLANNING, MARKETING AND OPERATIONS. IN OCTOBER, 2022 KHADY KAMARA WAS APPOINTED BY THE BOARD TO BE THE ORGANIZATION'S FIRST EXECUTIVE DIRECTOR. 245478 0 0 CONSTRUCTION MANAGEMENT, DESIGN AND FACILITIES PLANNING:SCIAME CONSTRUCTION, SERVING AS CONSTRUCTION MANAGER, IS CONTINUING CONSTRUCTION ACTIVITIES AT THE SITE. FACADE INSTALLATION AND BUILDING ENVELOPE WORK COMPLETE. SITE WORK IN PROGRESS. INTERIOR FIT-OUT OF THEATER AND FRONT OF THE HOUSE SPACES SUBSTANTIALLY COMPLETE. THEATER COMMISSIONING IS UNDERWAY. PROJECT MANAGEMENT, DESIGN AND CONSTRUCTION COSTS OF $122,509,375 WERE INCURRED IN 2022 AND CAPITALIZED AS CONSTRUCTION IN PROGRESS. 4607304 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 142 0 72 1 0 0 0 0 0 0 0 0 0 0 1 0 X 31 31 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA FL HI NJ NY X X MAXIM SEMIGLAZOV 2122663000 ONE LIBERTY PLAZA 29TH FL NEW YORK NY 10006 X MICHAEL R BLOOMBERG CHAIR 2.00 X X 0 0 0 DOMINIC CASSERLEY VICE-CHAIR AND TREASURER 2.00 X X 0 0 0 PETER H DARROW VICE-CHAIR 2.00 X X 0 0 0 ED HENRY SECRETARY 1.00 X X 0 0 0 CHRISTINE TAYLOR SECRETARY THRU SEPT 2022 1.00 X X 0 0 0 FRANK BISIGNANO DIRECTOR 1.00 X 0 0 0 RIC CLARK DIRECTOR 1.00 X 0 0 0 STEVEN M COHEN DIRECTOR 1.00 X 0 0 0 STEPHEN DALDRY DIRECTOR 1.00 X 0 0 0 ANNA DEAVERE SMITH DIRECTOR 1.00 X 0 0 0 MICHAEL DOUGLAS DIRECTOR 1.00 X 0 0 0 DAVID EARLS DIRECTOR 1.00 X 0 0 0 ARI EMANUEL DIRECTOR 1.00 X 0 0 0 HAROLD FORD JR DIRECTOR 1.00 X 0 0 0 PATRICIA E HARRIS DIRECTOR 2.00 X 0 0 0 REVEREND PHILLIP A JACKSON DIRECTOR 1.00 X 0 0 0 VAN JONES DIRECTOR 1.00 X 0 0 0 MARTHA LIVINGSTON DIRECTOR 1.00 X 0 0 0 ZENIA MUCHA DIRECTOR 1.00 X 0 0 0 HON ELLEN NACHTIGALL BIBEN DIRECTOR 1.00 X 0 0 0 MARY KATHRYN NAGLE DIRECTOR 1.00 X 0 0 0 INDRA NOOYI DIRECTOR 1.00 X 0 0 0 GREG OLAFSON DIRECTOR 1.00 X 0 0 0 BLESSING OMAKWU DIRECTOR 1.00 X 0 0 0 IAN OSBORNE DIRECTOR 1.00 X 0 0 0 RONALD O PERELMAN DIRECTOR 1.00 X 0 0 0 SCOTT RECHLER DIRECTOR 1.00 X 0 0 0 LARRY A SILVERSTEIN DIRECTOR 1.00 X 0 0 0 BARBRA STREISAND DIRECTOR 1.00 X 0 0 0 SUSAN STROMAN DIRECTOR 1.00 X 0 0 0 MARY ANN TIGHE DIRECTOR 1.00 X 0 0 0 MARIA TORRES-SPRINGER DIRECTOR 1.00 X 0 0 0 LESLIE KOCH PRESIDENT & CEO 40.00 X 556002 0 21561 WILLIAM RAUCH ARTISTIC DIRECTOR 40.00 X 1090397 0 72088 WARREN ELLIOTT ELGHANAYAN VP OF CONSTRUCTION 40.00 X 545898 0 70707 JAMES CONNORS DIRECTOR OF OPERATIONS 40.00 X 352321 0 12126 FRANK LAPERA SIR. DIR OF PROJECT DEVELOPMENT 40.00 X 328610 0 26663 CHRISTOPHER GATEAU SENIOR PROJECT MANAGER 40.00 X 317037 0 37723 GEORGE COOPER DIRECTOR OF DESIGN 40.00 X 281619 0 11136 BERONICA SALAZAR SENIOR PROGRAM MANAGER 40.00 X 228744 0 27849 3700628 0 279853 12 0 1 0 SCIAME CONSTRUCTION LLC 14 WALL STREET NEW YORK NY 10005 CONSTRUCTION SERVICES 119626993 SOUND ASSOCIATES INC 979 SAW MILL RIVER ROAD YONKERS NY 10710 CONSTRUCTION SERVICES 2746494 DAVIS BRODY BOND ONE NEW YORK PLAZA SUITE 4200 NEW YORK NY 10004 ARCHITECTURAL SERVICES 2446810 REX 100 READE STREET NEW YORK NY 10013 ARCHITECTURAL SERVICES 1264716 LJ DUFFY INC 150 WEST 30TH STREET SUITE 40 NEW YORK NY 10001 CONSTRUCTION SERVICES 1021222 13 31086799 42891895 6485012 73978694 16488 16488 5613477 5992128 -378651 -378651 -378651 GAIN ON MORTGAGE SWAP 900099 5770055 5770055 5770055 79386586 0 0 5407892 X 1002553 963370 37952 1231 1793838 767268 421397 605173 37616 24141 1317 12158 190017 119674 19497 50846 135910 74322 28168 33420 333808 333808 92160 92160 288000 288000 1982295 1228744 338917 414634 141681 141681 268995 156094 77531 35370 111487 64631 32243 14613 18180 10539 5258 2383 67648 42798 10378 14472 833563 833563 484849 330148 80057 74644 27515 18736 4543 4236 BAD DEBT EXPENSE 644242 644242 COMMISSIONING COSTS 472685 472685 STAFF DEVELOPMENT 346 346 8927388 4607304 2627223 1692861 55604844 18089884 1010228 1012602 74857886 73685883 34462 121468 475758 475758 0 0 374358392 495445342 505865812 588355179 25801287 15105515 0 100000 0 23000000 25801287 38205515 X 373785486 417117996 106279039 133031668 480064525 550149664 505865812 588355179 X 70459198 -374059 X X 0 1 X 1 1 1 X 80197523 155266519 34476940 148467483 73978694 492387159 80197523 155266519 34476940 148467483 73978694 492387159 183156527 309230632 169417 98260 32188 16488 316353 518 5770055 5770573 498474085 0.62040 0.59230 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GAIN ON MORTGAGE SWAP - 2022 AMOUNT: $ 5,770,055. OTHER INCOME - 2019 AMOUNT: $ 518. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1010228 2374 1012602 1009708 520 1010228 1007313 2395 1009708 1000000 7313 1007313 1000000 1000000 0.00000 0.98755 0.01245 0 0 405194 405194 0 70564 70564 0 0 CONSTRUCTION IN PROGRESS 449771682 CAPITALIZED LEASEHOLD 45656660 SECURITY DEPOSITS 17000 495445342 X 79711157 324571 324571 79386586 0 79386586 9626018 324571 374059 698630 8927388 0 8927388 PART V, LINE 4: THE ORGANIZATION HAS RECEIVED A RESTRICTED GIFT OF $1M TO BE HELD IN PERPETUITY. INCOME EARNED FROM THIS GIFT IS EXPENDABLE TO SUPPORT A THEATRICAL PRODUCTION EACH YEAR WITH THE CONSENT OF THE DONOR. PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT IS NOT AWARE OF ANY VIOLATIONS OF ITS TAX STATUS AS AN ORGANIZATION EXEMPT FROM INCOME TAX, NOR OF ANY EXPOSURE TO UNRELATED BUSINESS INCOME TAX THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO 2019. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF PLEDGE RECEIVABLE 7,005. AMORTIZATION OF DEFERRED RENT FROM DONATED USE OF FACILITIES 367,054. X X X X X X 1 CATHY BLANEY AND ASSOCIATES 300 EAST 85TH STREET APT 2502 NEW YORK NY 10028 CAPITAL CAMPAIGN 0 0 192000 -192000 JP LEXINGTON LLC 30 E END AVENUE 5B NEW YORK NY 10028 CAPITAL CAMPAIGN 0 0 96000 -96000 288000 -288000 CA CO CT FL HI NJ NY WA X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 WILLIAM RAUCH ARTISTIC DIRECTOR 556786 0 0 0 533611 0 18300 0 53788 0 1162485 0 0 0 WARREN ELLIOTT ELGHANAYAN VP OF CONSTRUCTION 455276 0 88000 0 2622 0 18300 0 52407 0 616605 0 0 0 LESLIE KOCH PRESIDENT & CEO 548478 0 0 0 7524 0 4181 0 17380 0 577563 0 0 0 JAMES CONNORS DIRECTOR OF OPERATIONS 346144 0 0 0 6177 0 9902 0 2224 0 364447 0 0 0 FRANK LAPERA SIR. DIR OF PROJECT DEVELOPMENT 275921 0 52000 0 689 0 10250 0 16413 0 355273 0 0 0 CHRISTOPHER GATEAU SENIOR PROJECT MANAGER 266551 0 50000 0 486 0 16221 0 21502 0 354760 0 0 0 GEORGE COOPER DIRECTOR OF DESIGN 235515 0 45000 0 1104 0 0 0 11136 0 292755 0 0 0 BERONICA SALAZAR SENIOR PROGRAM MANAGER 208324 0 20000 0 420 0 12345 0 15504 0 256593 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED FOR HOUSING EXPENSE AND ASSOCIATED TAX GROSS UP TO THE ARTISTIC DIRECTOR. THESE BENEFITS WERE TREATED AS TAXABLE COMPENSATION. PART I, LINE 7 CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A DISCRETIONARY BONUS DURING CALENDAR YEAR 2022 WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN THEIR 2022 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. SEE PART V PART V PART V X 23000000 23000000 0 1 1 23000000 FORM 990, SCHEDULE L, PART II: NAME OF INTERESTED PERSON: BLOOMBERG PHILANTHROPIES SUPPORT LLCRELATIONSHIP WITH ORGANIZATION: FOUNDER OF BLOOMBERG PHILANTHROPIES SUPPORT LLC IS A MEMBER OF THE BOARD.PURPOSE OF LOAN: WORKING CAPITAL X 4 6485012 AVG. SELLING PRICE 0 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B) OF SCHEDULE M. FORM 990, PART I, ITEM C DBA: RONALD O. PERELMAN CENTER FOR THE PERFORMING ARTS DBA: PERFORMING ARTS CENTER AT THE WORLD TRADE CENTER FORM 990, PART VI, SECTION A, LINE 2 BOARD DIRECTORS MICHAEL R. BLOOMBERG AND PATRICIA E. HARRIS HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND DIRECTOR OF FINANCE AND CONTROLLER AND THEN PROVIDED TO THE BOARD PRIOR TO FILING. THE BOARD IS PROVIDED AN OPPORTUNITY TO ASK QUESTIONS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE PAC HAS A BOARD APPROVED CONFLICT OF INTEREST POLICY WHICH IT ACTIVELY MONITORS AND ENFORCES. THE POLICY MANDATES THAT ALL DIRECTORS, OFFICERS, AND KEY EMPLOYEES ANNUALLY SIGN A CONFLICT OF INTEREST QUESTIONNAIRE AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. THE SIGNED CONFLICT OF INTEREST QUESTIONNAIRE IS FILED ANNUALLY WITH THE PRESIDENT/CEO OF THE PAC OR HER DESIGNEE WHO REVIEWS THE SIGNED ATTESTATIONS FOR POTENTIAL OR ACTUAL CONFLICTS EXPECTED TO OCCUR WITHIN THE FOLLOWING YEAR. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS ON THE PART OF A DIRECTOR OR OFFICER, DISCLOSURE MUST BE MADE TO THE CHAIR OF THE BOARD AND EXTERNAL BOARD COUNSEL, WHO ARE RESPONSIBLE FOR MAKING THE DETERMINATION OF WHETHER A CONFLICT EXISTS. IF AN ACTUAL CONFLICT EXISTS AND INVOLVES A PARTICULAR TRANSACTION THAT REQUIRES A VOTE OF THE BOARD, THE AFFECTED MEMBER OF MANAGEMENT OR THE BOARD CAN NOT BE ENTITLED TO VOTE, DELIBERATE OR OTHERWISE USE HIS OR HER INFLUENCE ON THE MATTER IN QUESTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT WAS DETERMINED BY A REVIEW OF THE POSITION DESCRIPTION, THE PRESIDENT'S QUALIFICATIONS INCLUDING HER CV, AND A COMPREHENSIVE REVIEW OF COMPARABLE POSITIONS AT SIMILARLY SITUATED CULTURAL INSTITUTIONS. NONE OF THE DIRECTORS INVOLVED IN DETERMINING THE COMPENSATION FOR THE PRESIDENT HAD A CONFLICT OF INTEREST IN CONNECTION WITH THE DETERMINATION. A SIMILAR PROCESS WAS USED TO DETERMINE THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. THE PROCESS WAS LAST PERFORMED IN 2019. COMPENSATION FOR PRESIDENT AND ARTISTIC DIRECTOR ARE GOVERNED BY MULTIYEAR EMPLOYMENT AGREEMENTS. COMPENSATION FOR OTHER EMPLOYEES WAS APPROVED BY AUTHORIZED BODY, INDIVIDUALS DETERMINING COMPENSATION DID NOT HAVE A CONFLICT OF INTEREST IN CONNECTION WITH DETERMINATION. PRIOR TO MAKING DETERMINATION PERFORMANCE REVIEW AND COMPENSATION COMPARABILITY WITH SIMILAR POSITIONS IN OTHER ORGANIZATIONS WAS PERFORMED AND FINAL DETERMINATION WAS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE PAC'S FORM 990, FORM 1023, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY AT 212-266-3000. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART I, QUESTION 5, AND PART V, QUESTION 2A: THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. FORM 990, PART IX, LINE 11G ARTISTIC ADVISORY SERVICES: PROGRAM SERVICE EXPENSES 454,934. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 454,934. PEO ADMIN FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 51,195. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,195. ARTS CONSULTING/RESEARCH AND OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 99,222. MANAGEMENT AND GENERAL EXPENSES 36,893. FUNDRAISING EXPENSES 53,166. TOTAL EXPENSES 189,281. THEATER CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 32,864. MANAGEMENT AND GENERAL EXPENSES 12,220. FUNDRAISING EXPENSES 17,610. TOTAL EXPENSES 62,694. MARKETING/DESIGN SERVICES: PROGRAM SERVICE EXPENSES 277,423. MANAGEMENT AND GENERAL EXPENSES 103,153. FUNDRAISING EXPENSES 148,653. TOTAL EXPENSES 529,229. FACILITY SERVICES: PROGRAM SERVICE EXPENSES 82,614. MANAGEMENT AND GENERAL EXPENSES 30,718. FUNDRAISING EXPENSES 44,267. TOTAL EXPENSES 157,599. BUSINESS PLANNING: PROGRAM SERVICE EXPENSES 7,061. MANAGEMENT AND GENERAL EXPENSES 2,625. FUNDRAISING EXPENSES 3,784. TOTAL EXPENSES 13,470. RECRUITING/STAFFING SERVICES: PROGRAM SERVICE EXPENSES 181,580. MANAGEMENT AND GENERAL EXPENSES 67,516. FUNDRAISING EXPENSES 97,297. TOTAL EXPENSES 346,393. PROJECT SERVICES: PROGRAM SERVICE EXPENSES 93,046. MANAGEMENT AND GENERAL EXPENSES 34,597. FUNDRAISING EXPENSES 49,857. TOTAL EXPENSES 177,500. FORM 990, PART XI, LINE 9: WRITE-OFF OF PLEDGE RECEIVABLE -7,005. AMORTIZATION OF DEFERRED RENT FROM DONATED USE OF FACILITIES -367,054. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.