2024-12-24T11:07:30-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 455316035 WORLD TRADE CENTER PERFORMING ARTS CENTER INC WORL 2122663000 ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 KHADY KAMARA EXECUTIVE DIRECTOR 2122663000 2024-12-24 1 1 EVA MRUK P00543254 2122862600 2024-12-24 2023 2024-10-15 13:58:12Z RONALD O PERELMAN CENTER FOR THE PERFORMING ARTS KHADY KAMARA ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 33695993 0 X PACNYC.ORG X 2012 NY THE PERFORMING ARTS CENTER (PAC) CONTRIBUTES TO THE REVITALIZATION OF LOWER MANHATTAN BY WELCOMING A DIVERSE PUBLIC AND PRODUCING AND PRESENTING THEATER, DANCE, MUSIC, AND OTHER PERFORMING ARTS. 34 33 574 35 150900 11395 73978694 30525484 0 914313 -362163 13957 5770055 1588955 79386586 33042709 0 0 0 0 3159934 15471616 288000 288000 1943533 5479454 28498393 8927388 44258009 70459198 -11215300 588355179 592002023 38205515 53745928 550149664 538256095 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 14312069 0 1000118 ARTISTIC AND PROGRAM:ARTISTIC DIRECTOR BILL RAUCH AND THE PRODUCING TEAM SUCCESSFULLY LAUNCHED AND PRESENTED THE PERELMAN PERFORMING ARTS CENTER'S INAUGURAL SEASON, OFFERING A RICH AND DIVERSE PROGRAM OF LIVE PERFORMANCES. THE SEASON WELCOMED NEW YORKERS AND VISITORS FROM ALL 50 STATES AND SHOWCASED ARTISTS ACROSS DISCIPLINES WHILE LAYING THE GROUNDWORK FOR FUTURE PROGRAMMING. 10026703 0 0 ORGANIZATION DEVELOPMENT AND PLANNING:IN ITS INAUGURAL YEAR, UNDER THE LEADERSHIP OF EXECUTIVE DIRECTOR KHADY KAMARA, THE ORGANIZATION PRIORITIZED STRATEGIC GROWTH, GOVERNANCE, AND OPERATIONAL EXCELLENCE. KEY EFFORTS INCLUDED MARKETING PUBLIC PROGRAMS, EXPANDING FUNDRAISING INITIATIVES, AND STRENGTHENING LONG-TERM BUSINESS AND MANAGEMENT PLANS TO ENSURE SUSTAINABILITY AND FUTURE SUCCESS. 8800655 0 0 CONSTRUCTION MANAGEMENT, DESIGN AND FACILITIES PLANNING:SCIAME CONSTRUCTION, SERVING AS CONSTRUCTION MANAGER SUBSTANTIALLY COMPLETED CONSTRUCTION ACTIVITIES AT THE SITE WITH COMMISSIONING AND PUNCH LIST WORK ONGOING. PROJECT MANAGEMENT, DESIGN AND CONSTRUCTION COSTS OF $41,201,916 WERE INCURRED AND CAPITALIZED IN 2023. THE PERELMAN PERFORMING ARTS CENTER OPENED TO THE PUBLIC IN SEPTEMBER 2023. WITH THE BUILDING PLACED IN SERVICE $ 7,919,330 IN DEPRECIATION EXPENSE WAS RECORDED IN 2023. 3548708 0 0 3548708 36688135 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 1 0 0 0 0 1 247 0 574 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 34 33 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 EDWARD P HENRY SECRETARY 2.00 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 ARIEL 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 REV PHILLIP A JACKSON DIRECTOR 1.00 X 0 0 0 VAN JONES DIRECTOR 1.00 X 0 0 0 KATY KNIGHT 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 GREGORY G OLAFSON DIRECTOR 1.00 X 0 0 0 BLESSING OMAKWU ESQ 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 EDWARD SKYLER DIRECTOR 1.00 X 0 0 0 LARRY A SILVERSTEIN 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 ROBIN VINCE DIRECTOR 1.00 X 0 0 0 VALERIE WILPON DIRECTOR 1.00 X 0 0 0 KHADY KAMARA EXECUTIVE DIRECTOR 40.00 X 579418 0 37033 LESLIE KOCH PRESIDENT CEO THRU FEB 2023/PRESIDENT OF CONSTRUCTION 40.00 X 555905 0 30479 WARREN ELLIOTT ELGHANAYAN VP OF CONSTRUCTION 40.00 X 590249 0 76889 WILLIAM RAUCH ARTISTIC DIRECTOR 40.00 X 1188925 0 64056 JAMES CONNORS DIRECTOR OF OPERATIONS 40.00 X 458872 0 33090 FRANK LAPERA SIR. DIR OF PROJECT DEVELOPMENTS 40.00 X 444596 0 27292 CHRISTOPHER GATEAU SENIOR PROJECT MANAGER 40.00 X 426979 0 36825 GEORGE COOPER DIRECTOR OF DESIGN 40.00 X 282413 0 13283 MAXIM SEMIGLAZOV DIR. OF FINANCE & COMPTROLLER 40.00 X 287747 0 21174 ROBERT JOHN PILON SENIOR ADVISOR 40.00 X 258086 0 40163 5073190 0 380284 26 0 1 0 SCIAME CONSTRUCTION LLC 14 WALL STREET NEW YORK NY 10005 CONSTRUCTION SERVICES 42863188 ABM 14141 SOUTH WEST FREEWAY SUGAR LAND TX 77478 ENGINEERING AND JANITORIAL SERVICES 2008522 ALEX COLETTI PRODUCTIONS INC 404 JEFFERSON AVENUE BROOKLYN NY 10710 OPENING EVENTS AND PRODUCTION 1893770 DAVIS BRODY BOND ONE NEW YORK PLAZA SUITE 4200 NEW YORK NY 10004 ARCHITECTURAL SERVICES 1881077 ALLIED UNIVERSAL JANITORIAL SERVICES EIGHT TOWER BRIDGE 161 WASHINGTON CONSHOHOCKEN PA 19428 SECURITY SERVICES 740046 46 5568660 24956824 653284 30525484 TICKET SALES 711310 914313 914313 914313 13727 13727 236705 0 236705 236705 85805 150900 653514 653284 230 230 230 COMMISSION 711310 1349514 1349514 OTHER INCOME 900099 2736 2736 1352250 33042709 1000118 150900 1366207 2271962 1071428 1200534 9804058 8285401 785813 732844 164811 123145 11897 29769 2224280 1830288 294586 99406 1006505 845607 103556 57342 526401 68525 457876 98046 98046 288000 288000 4207185 3961247 238441 7497 3784583 3699806 84777 821917 397860 409502 14555 797896 656312 141584 42050 42050 2220475 2024658 187285 8532 389934 263312 77585 49037 3011 3011 7919330 6200388 1242329 476613 1480451 1159109 232243 89099 OPENING EVENTS 2594539 2594539 STAGE PRODUCTION 1071683 1071683 EQUIPMENT & SUPPLIES 834776 760993 70568 3215 SCENERY AND COSTUMES 789315 789315 916801 839458 74496 2847 44258009 36688135 5626341 1943533 18089884 15147758 1012602 1026329 73685883 45637253 0 2000 0 180030 121468 962696 491631124 8395088 0 483236036 495445342 45809921 588355179 592002023 15105515 4522882 100000 723046 23000000 48500000 38205515 53745928 X 417117996 445825340 133031668 92430755 550149664 538256095 588355179 592002023 X -11215300 -678269 X X 0 1 X 1 1 1 X 155266519 34476940 148467483 73978694 30525484 442715120 155266519 34476940 148467483 73978694 30525484 442715120 165971495 276743625 169417 98260 32188 16488 13727 330080 11850 11850 518 5770055 1352250 7122823 450179873 1000118 0.61470 0.62040 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. 2023 AMOUNT: $ 2,736. COMMISSION - 2023 AMOUNT: $ 1,349,514. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1012602 13727 1026329 1010228 2374 1012602 1009708 520 1010228 1007313 2395 1009708 1000000 7313 1007313 0.00000 0.97435 0.02565 0 0 408355634 3490219 404865415 4703765 500718 4203047 78571725 4404151 74167574 483236036 CAPITALIZED LEASEHOLD 45171820 SECURITY DEPOSITS 17000 OTHER ASSETS 621101 45809921 X 34520650 1491441 1491441 33029209 13500 13500 33042709 46414219 1491441 678269 2169710 44244509 13500 13500 44258009 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 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL INCOME INCLUDED ON PART VIII, LINE 6 13,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF PLEDGE RECEIVABLE 678,269. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL INCOME INCLUDED ON PART VIII, LINE 6 13,500. 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 200000 -200000 JP LEXINGTON LLC 30 E END AVENUE 5B NEW YORK NY 10028 CAPITAL CAMPAIGN 0 0 88000 -88000 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 606185 0 0 0 582740 0 5300 0 58756 0 1252981 0 0 0 WARREN ELLIOTT ELGHANAYAN VP OF CONSTRUCTION 471027 0 116600 0 2622 0 19800 0 57089 0 667138 0 0 0 KHADY KAMARA EXECUTIVE DIRECTOR 538468 0 40000 0 950 0 18858 0 18175 0 616451 0 0 0 LESLIE KOCH PRESIDENT CEO THRU FEB 2023/PRESIDENT OF CONSTRUCT 548381 0 0 0 7524 0 4931 0 25548 0 586384 0 0 0 JAMES CONNORS DIRECTOR OF OPERATIONS 451069 0 0 0 7803 0 19800 0 13290 0 491962 0 0 0 FRANK LAPERA SIR. DIR OF PROJECT DEVELOPMENTS 286521 0 156967 0 1108 0 10000 0 17292 0 471888 0 0 0 CHRISTOPHER GATEAU SENIOR PROJECT MANAGER 275304 0 150930 0 745 0 17131 0 19694 0 463804 0 0 0 MAXIM SEMIGLAZOV DIR. OF FINANCE & COMPTROLLER 240207 0 47000 0 540 0 14733 0 6441 0 308921 0 0 0 ROBERT JOHN PILON SENIOR ADVISOR 257276 0 0 0 810 0 15674 0 24489 0 298249 0 0 0 GEORGE COOPER DIRECTOR OF DESIGN 232693 0 47700 0 2020 0 620 0 12663 0 295696 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 2023 WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN THEIR 2023 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. SEE PART V PART V PART V X 48500000 48500000 0 1 1 48500000 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 653284 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 DBA: PERELMAN PERFORMING ARTS CENTER PAC NYC DBA: METROPOLIS BY MARCUS SAMUELSSON 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 EXECUTIVE DIRECTOR WAS DETERMINED BY A REVIEW OF THE POSITION DESCRIPTION, THE EXECUTIVE DIRECTOR'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 EXECUTIVE DIRECTOR 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 2023. COMPENSATION FOR EXECUTIVE DIRECTOR 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 XI, LINE 9: WRITE-OFF OF PLEDGE RECEIVABLE -678,269. 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. WTC PERFORMING ARTS CENTER SUPPORT LLC ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 923285438 STAFFING AGENCY NY 0 0 WORLD TRADE CENTER PERFORMING ARTS CENTER INC