2023-02-06T14:45:42-06:00 2021-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2021-01-01 455316035 WORLD TRADE CENTER PERFORMING ARTS CENTER INC WORL 2122663000 ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 BARBARA GUNN INTERIM CHIEF OF STAFF 2123128800 2023-02-06 1 BARBARA GUNN XXX-XX-XXXX EVA MRUK P00543254 2122862600 2023-02-06 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z RONALD O PERELMAN CENTER FOR THE PERFORMING ARTS BARBARA GUNN ONE LIBERTY PLAZA 29TH FLOOR NEW YORK NY 10006 148866239 0 X HTTP://WWW.THEPERELMAN.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. 25 25 13 25 0 0 34476940 148467483 0 0 92162 25662 0 0 34569102 148493145 0 0 0 0 2038890 2121512 288000 314000 566674 1763897 1513612 4090787 3949124 30478315 144544021 353997852 505865812 17278078 25801287 336719774 480064525 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 1628578 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. 392728 0 0 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. 200560 0 0 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. 2221866 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 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 80 0 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 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 1.00 X X 0 0 0 DOMINIC CASSERLEY VICE-CHAIR AND TREASURER 1.00 X X 0 0 0 PETER H DARROW VICE-CHAIR 5.00 X X 0 0 0 CHRISTINE TAYLOR SECRETARY 1.00 X X 0 0 0 HON ELLEN NACHTIGALL BIBEN DIRECTOR 1.00 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 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 1.00 X 0 0 0 ED HENRY 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 INDRA NOOYI DIRECTOR 1.00 X 0 0 0 GREG OLAFSON 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 ANNE WALKER DIRECTOR UNTIL APRIL 2021 1.00 X 0 0 0 LESLIE KOCH PRESIDENT & CEO 40.00 X 576616 0 21395 WILLIAM RAUCH ARTISTIC DIRECTOR 40.00 X 985681 0 68493 WARREN ELLIOTT ELGHANAYAN VP OF CONSTRUCTION 40.00 X 508887 0 67614 FRANK LAPERA SIR. DIR OF PROJECT DEVELOPMENT 40.00 X 311292 0 29389 CHRISTOPHER GATEAU SENIOR PROJECT MANAGER 40.00 X 299441 0 31213 MAXIM SEMIGLAZOV COMPTROLLER 40.00 X 172141 0 11007 MEIYIN WANG PRODUCING DIRECTOR 40.00 X 159274 0 53401 SUANY CHOUGH DIRECTOR OF PROJECT DEVELOPMENT 40.00 X 144606 0 31311 3157938 0 313823 9 0 1 0 SCIAME CONSTRUCTION LLC 14 WALL STREET NEW YORK NY 10005 CONSTRUCTION SERVICES 121260211 DAVIS BRODY BOND ONE NEW YORK PLAZA SUITE 4200 NEW YORK NY 10004 ARCHITECTURAL SERVICES 2976802 REX 100 READE STREET NEW YORK NY 10013 ARCHITECTURAL SERVICES 696837 BUREAU VERITAS NORTH AMERICA INC 500 7TH AVE 8TH FL NEW YORK NY 10018 CONSTRUCTION SERVICES 663683 CHARCOALBLUE LLC 330 7TH AVE SUITE 2002 NEW YORK NY 10001 THEATER CONSULTING SERVICES 229230 10 26123198 122344285 373094 148467483 32188 32188 366568 373094 -6526 -6526 -6526 148493145 0 0 25662 1366979 775757 561777 29445 565290 443791 121499 29656 17835 11372 449 87072 52249 33484 1339 72515 42845 28433 1237 45361 45361 144476 144476 314000 314000 374467 284802 62796 26869 71914 153 1 71760 31205 24918 140 6147 41992 33531 188 8273 22809 18213 102 4494 5263 4202 24 1037 193982 193982 484849 387156 2171 95522 27654 22082 124 5448 COMMISSIONING COSTS 66323 66323 EQUIPMENT & MAINTENANCE 3289 2626 15 648 STAFF DEVELOPMENT 28 22 6 3949124 2221866 1160584 566674 24869496 55604844 1009708 1010228 90345189 74857886 17394 34462 475758 475758 0 0 237756065 374358392 353997852 505865812 17278078 25801287 17278078 25801287 X 220589028 373785486 116130746 106279039 336719774 480064525 353997852 505865812 X 144544021 -1199270 X X 0 1 X 1 1 1 X 73634667 80197523 155266519 34476940 148467483 492043132 73634667 80197523 155266519 34476940 148467483 492043132 200380304 291662828 0 0 169417 98260 32188 299865 100000 518 100518 492443515 0.59230 0.63310 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: VENDOR CREDITS - 2017 AMOUNT: $ 100,000. OTHER INCOME - 2019 AMOUNT: $ 518. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1009708 520 1010228 1007313 2395 1009708 1000000 7313 1007313 1000000 1000000 1000000 1000000 0.00000 0.98988 0.01012 0 0 405194 405194 0 70564 70564 0 0 CONSTRUCTION IN PROGRESS 327262307 CAPITALIZED LEASEHOLD 46141509 DEFERRED DEBT ISSUANCE COSTS 937576 SECURITY DEPOSITS 17000 374358392 X 148842917 349772 349772 148493145 0 148493145 5498166 349772 1199270 1549042 3949124 0 3949124 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 2018. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF PLEDGE RECEIVABLE 832,215. AMORTIZATION OF DEFERRED RENT FROM DONATED USE OF FACILITIES 367,055. 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 THE HELEN BROWN GROUP 489 MT AUBURN ST 4 WATERTOWN MA 02472 CAPITAL CAMPAIGN 0 0 26000 -26000 314000 -314000 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 404409 0 0 0 581272 0 17400 0 51093 0 1054174 0 0 0 LESLIE KOCH PRESIDENT & CEO 571714 0 0 0 4902 0 4162 0 17233 0 598011 0 0 0 WARREN ELLIOTT ELGHANAYAN VP OF CONSTRUCTION 426817 0 80000 0 2070 0 17400 0 50214 0 576501 0 0 0 FRANK LAPERA SIR. DIR OF PROJECT DEVELOPMENT 258728 0 52000 0 564 0 13801 0 15588 0 340681 0 0 0 CHRISTOPHER GATEAU SENIOR PROJECT MANAGER 248955 0 50000 0 486 0 13777 0 17436 0 330654 0 0 0 MEIYIN WANG PRODUCING DIRECTOR 158938 0 0 0 336 0 9920 0 43481 0 212675 0 0 0 MAXIM SEMIGLAZOV COMPTROLLER 149329 0 22500 0 312 0 6361 0 4646 0 183148 0 0 0 SUANY CHOUGH DIRECTOR OF PROJECT DEVELOPMENT 143888 0 0 0 718 0 8858 0 22453 0 175917 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 2021 WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN THEIR 2021 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. X 2 373094 SALES 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 B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE PRESIDENT/CEO 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 AT ONE LIBERTY PLAZA, 29TH FL., NEW YORK, NY 10006 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), TRINET HR CORPORATION, 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 -832,215. AMORTIZATION OF DEFERRED RENT FROM DONATED USE OF FACILITIES -367,055. 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.