Annual Report 2 07 - Central Park...
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Annual Report 2007
Transcript of Annual Report 2 07 - Central Park...
Annual Report 2007
Let me now make a confession of Faith. Notwithstandingthe fact that for twenty-five years I have been strugglingnot only to defend the Park from attacks of all kinds, butalso hoping, above all, to make the government and citizensrealize its forlorn condition and provide a remedy, andhaving apparently failed, I believe still that the Park willeventually be restored to something of its pristine beauty.It may not be through my own efforts, but someone willundoubtedly do it. The New York American public will neverallow their greatest treasure to pass entirely out of existenceas a thing of beauty.”— Samuel Parsons, Memoirs, 1926
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PartnershipCentral Park Conservancy
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Samuel Parsons, landscape architect and successor to Central Park’s co-designers, Frederick Law Olmstedand Calvert Vaux, fought unsuccessfully throughout his long and distinguished career to prevent aserious decline of the Park. His abiding faith that “the government and citizens” would eventuallyrescue New York’s “greatest treasure” was only realized in 1980 with the groundbreaking partnershipbetween the City of New York and the Central Park Conservancy. The Conservancy is proud to fulfillParsons’ vision and even prouder to be the leader of the longest period of sustained health and beautyin the Park’s 150-year history. We are deeply grateful to our 25,000 individual, corporate, and founda-tion members, who have generously contributed to support this extensive and vital work.
The Conservancy is once again at a pivotal time in its successful 27-year history by taking Parsons’dream a momentous step forward. Not only have we restored the structures and infrastructure, lawnsand landscapes, woodlands and water bodies, playgrounds and playing fields, as he had hoped, butwe have also made a crucial commitment to secure funding for the future to enable us to protect theinvestment through strong management and maintenance practices, in partnership with the public.In this way, Central Park and its 25 million devoted visitors will never face another devastating decline.
Toward our goal of securing the future, we have made a concerted effort this year to find innovativeways to increase Conservancy membership and awareness. We are honored to have Trustee CandiceBergen as a spokesperson, in a Conservancy-produced video that is playing in our visitor centers andas public service announcements on radio and television, informing people about our work and invitingthem to become members. We have also established the Conservancy Council, a new leadership groupof supporters who act as “ambassadors” to the Park, to help expand our membership programs, widenour circle of Park friends, and build a community of future stewards of the Park. An exciting newmembership program for families, which offers special events and attractions, has been inaugurated aswell. We have held several popular new events that have successfully increased awareness of our mis-sion, particularly to the younger adults who are frequent users of the Park. In addition, “Before” signs,featuring photographs of former deterioration, have been placed at many of the Park’s popular land-scapes, not only to publicize and celebrate the Conservancy’s accomplishments, but also to remindPark visitors that it is through their donations that these fragile and once-forlorn landscapes receivethe constant care and vigilance that is needed to ensure that the Park will not revert to what it hadbecome before the formation of the Conservancy.
As Parsons so passionately and poignantly anticipated, “the New York American public will neverallow their greatest treasure to pass entirely out of existence as a thing of beauty,” and the CentralPark Conservancy is committed to sustaining his vision for generations to come.
A.J.C. SmithChairman of the Central Park Conservancy
Douglas BlonskyPresident of the Central Park Conservancyand Central Park Administrator
City of New YorkIn 1858, much of Manhattan’s waterfront provided beautiful scenery and fresh air, so there was notan imminent need for New Yorkers to plan an enormous landscaped public park — which would beour nation’s first. And yet, although many residents and politicians argued for a much smaller park,the leaders of this burgeoning metropolis had the foresight and courage to approve the Greenswardplan — Frederick Law Olmsted and Calvert Vaux’s design for Central Park. Today, we continue tobenefit from their intrepid vision. Next year, as we celebrate the plan’s 150th anniversary, we willmatch this forward-thinking commitment to creating a better future through PlaNYC. We haveproposed 127 initiatives designed to modernize our infrastructure and protect our environment —demonstrating the very same optimism and dedication that, 150 years ago, laid the groundwork forone of the world’s greatest public spaces.
Central Park is more vibrant than ever thanks in large measure to our partnership with the CentralPark Conservancy. The Conservancy is making vital contributions far beyond its namesake park:providing landscape maintenance to the four Historic Harlem Parks and training Parks employeesto beautify countless green spaces throughout the five boroughs.
The Central Park Conservancy is a wonderful example of how public-private partnerships enrich ourlives, and we commend all those who have made possible their important work. You are supportingthe wave of park expansion throughout our City, and will help us ensure that every New Yorker liveswithin a ten-minute walk of a public park. Together, we are building a greener, greater New York.
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Partnership
Adrian BenepeCommissioner, New York CityDepartment of Parks & Recreation
Michael R. BloombergMayor of the City of New York
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The Campaign
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We are moving toward completing the transformation of the Park. In order to make this possible, welaunched the Campaign for Central Park in 2005 and have raised nearly $100 million to date, whichincludes a $25 million commitment from the City. Several Campaign restoration projects have alreadybeen completed. Work continues with the shoreline of the Lake and the east side landscapes from theMetropolitan Museum of Art to the Harlem Meer. Restoration of these two large areas will progressin phases over the next several years, with construction focused on a few sections of the work at a time.
In 2007, we are nearing completion of the first phase of the Lake’s northern terminus, Bank Rock Bay.In planning for extensive restoration of the Park’s largest and most popular water body, the Conservancy’sinnovative Capital Projects department utilized a portable dam. It enables us to confine constructionto specific areas of shoreline at a time, minimizing disruption to use of surrounding landscapes andpleasure of rowboating and gondola rides (top left). Before installing the temporary dam, theConservancy’s horticulture and operations staff — always sensitive to wildlife — conducted a fishand turtle rescue (bottom left).
Construction on the landscapes from the Metropolitan Museum of Art to the Harlem Meer willbegin this fall. The first phase of the east side landscapes are the areas south of the Mount and theConservatory Garden. The work will move south in phases and will include restoration of the EastMeadow.
Other work under way as part of the Campaign includes the last two of the Park’s 21 playgrounds toreceive major capital work — Ancient Playground at East 84th Street and the West 100th StreetPlayground — and the landscape to the east of the recently restored Mall.
In the following pages, we are proud to illustrate three Campaign projects that were completed thisyear: Minton tile ceiling at Bethesda Terrace, Heckscher Ballfields, and West 110th Street Playground.
Support for the Lake restoration has been provided by: the New York City Department of Parks & Recreation, under theleadership of Commissioner Adrian Benepe; Elizabeth H. Atwood; Bobolink Foundation; Family of Andrea Bronfman;Butler Conservation Fund, Inc.; Richard Gilder and Lois Chiles; Thomas G. and Sheila C. Labrecque Charitable Foundation;Leni and Peter May; Donald Pels and Wendy Keys; Sarah Peter; Mr. and Mrs. A.J.C. Smith; Angela and Wade Thompson;Mr. and Mrs. Wynant D. Vanderpoel III; Robert W. Wilson; and Women’s Committee of the Central Park Conservancy.
Generous support for the restoration of the East Meadow and surrounding landscapes has been provided byPolo Ralph Lauren Foundation; May and Samuel Rudin Family Foundation, Inc.; LuEsther T. Mertz Charitable Trust;Thomas L. Kempner, Jr. and Katheryn C. Patterson; Nina Rosenwald, Elizabeth and Michael Varet, and Alice Rosenwald;Bafflin Foundation; The Seaward Fund of the Philanthropic Collaborative; and many area residents.
Reconstruction of Ancient Playground is supported with funds from Carol and David Feinberg and New York City,allocated by former City Council Member Eva Moskowitz. Additional support was provided by theDaniel P. and Nancy C. Paduano Foundation for the restoration and reinstallation the playground’s historicOsborn Gates designed by Paul Manship.
The West 100th Street Playground restoration was supported with New York City funds allocated by former City CouncilMember Philip Reed. Patsy and Jeff Tarr provided major support for improvements to the playground’s surrounding landscape,as well as established an endowment for the perpetual care of the playground and the landscape.
Craftsmanship
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LandscapeEast of Mall
Minton Tiles & Upper Terrace
HeckscherPlayground
Building
HeckscherBallfields
Bank Rock Bay
Ramble Shoreline & The Island
AncientPlayground
Reservoir East Landscape
E. 96th St. Playground & Landscape
East Meadow and The Arboretum Landscape
The Fort Landscape
W. 110th St. Playground
W. 100th St. Playground &
Landscape
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CENTRAL PARK CAPITAL WORK – F ISCAL YEAR 2007
RESTORED PRIOR TO 2007
LONG TERM MANAGEMENT / REPLACEMENT IN KIND
COMPLETED IN FY07
IN CONSTRUCTION FY07
FUTURE PROJECT
Completed and Future Campaign Projects
West 110th Street Playground
Each of the 21 playgrounds in Central Park has a distinctive character, not only because of the locationwithin the Park’s varied landscapes, but also because of the innovative designs, challenging and engagingplay equipment, important safety features, and beautiful horticultural plantings.
In the case of the newly renovated West 110th Street Playground, inside the Park at the corner ofCentral Park West and West 110th Street, a steep ravine, lined with dark gray rock cliffs and mature trees,forms a dramatic backdrop for the state-of-the-art play environment. The three-part playground —created by the Conservancy’s designers, sensitive to the needs of children — separates play areas forschool-age children and toddlers to ensure safety and to provide age-appropriate equipment. Thethird part of the playground, a water feature that can be enjoyed by children of all ages, connects thetwo separate play areas.
The Conservancy is grateful to The Heckscher Foundation for Children, under the leadership of Virginia Sloane, for makingthe renovation of this playground possible.
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Craftsmanship
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Heckscher BallfieldsIn the mid-19th century, New Yorkers began to play the new game of “base-ball,” and the Board ofCommissioners responded by stipulating that the design of the Park include three meadows to be setaside for schoolboys to play the new game. For the southern-most playing field in the Park, designersOlmsted and Vaux designated a lawn, popularly called “the South Meadow.” In 1926, the Heckscherfamily donated funds to modernize the area and subdivide it into both grassy baseball diamonds andCentral Park’s first playground, equipped with swings, seesaws, and jungle gyms. In 2006, we celebratedthe opening of the newly restored Heckscher Playground.
In 2007, we completed the restoration of the Heckscher Ballfields. The five ballfields and the practicearea were modified to minimize overlapping between fields. Natural turf outfields were restored andnew clay infields were created. The drainage infrastructure and an automatic irrigation system wereinstalled, as were new backstops and fencing, bleachers and benches, and drinking fountains.
We are currently in the last phase of this multi-year capital project with the reconstruction of theHeckscher Building and the landscapes to the east of it.
The Conservancy is grateful to the many donors who have given to the restoration of this historic landscape.The Heckscher Playground was restored by the Patricia and Raymond G. Chambers family and friends.The William Randolph Hearst Foundation funded the restoration of the southwest landscapes surrounding the playgroundand established an endowment.Time Warner Inc. funded the restoration of the landscape south of the playground. Therestoration of the Heckscher Ballfields was funded by the Estate of Janet N. Kramer, which also provided an endowmentfor the entire historic Heckscher site. Peter B. Lewis provided endowment support for the ballfields area. The HeckscherBuilding renovation is being funded by Patricia and Raymond G. Chambers and Barry Diller and Diane von Furstenberg.
Craftsmanship
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Minton TilesCraftsmanship
The unique restoration and reinstallation of the Minton tile ceiling under Bethesda Terrace Arcadeis the crowning achievement of the Conservancy’s many historic preservation projects. Originallyinstalled in the 1860s, the ceiling is made up of 49 panels, totaling almost 16,000 elaborately patternedencaustic tiles, handmade by England’s renowned Minton and Company.
In 1983, the tile panels were removed and placed in storage because of extensive damage. The restorationof the ceiling had to await the necessary funding, which the Conservancy obtained by 2004. Thanksto generous individuals and foundations, the Conservancy was able to accomplish this challengingrestoration. (On the back cover of this report, see the staff of talented conservators and artisans whoworked on this project.)
Reopened in March 2007, the tile ceiling reflects the light coming from Bethesda Terrace and the Malland transforms the Arcade from a dark passageway to a glorious jewel box of pattern, color, and light.
The Conservancy is grateful to the Estate of Evelyn M. West, The Getty Foundation, The Starr Foundation, Drue Heinz Trust,Samuel H. Kress Foundation, National Endowment for the Arts, and New York State Office of Parks, Recreation andHistoric Preservation for funding this project.
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Caring for the ParkOperations and EducationStewardship is the underlying philosophy behind the Conservancy’s innovative management ofCentral Park. At its core is our zone gardener system, whereby our staff of horticultural professionalsmaintain their designated landscape, with additional support from our specialized turf, tree care,playground, technical services, and night crews (left: Zone Gardener Mario Zaffarana removing invasivegrasses from the Pond).
The operations staff could not do this vital work without the critically important assistance they receivefrom our individual and corporate volunteer program, generously funded by Ernst & Young LLP.This summer, interns from Liz Claiborne Inc. painted benches at the Chess & Checkers House(bottom left), the new visitor center and volunteer headquarters that serves visitors in the southernsection of the Park.
Today’s students become tomorrow’s park stewards and perhaps the next generation of park professionals,one of the objectives behind the Conservancy’s education programs. This year, participants in ourYouth Leadership Program completed the first episode of Project 843, a documentary series aboutCentral Park, shown here interviewing Mall Zone Gardener William Quansah (bottom right).
Stewardship
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1. Mardi Gras Luncheon 7. Halloween Ball
2. Chairman’s Circle Salon: Speaker Morrison Heckscher, 8. Co-Chairmen, Frederick Law Olmsted
Hosted by Judith Hernstadt Awards Luncheon
3. Conservatory Garden 70th Anniversary 9. Chairman’s Circle Luncheon at Per Se
Reception and Lynden Miller Tribute 10. The Heckscher Foundation for Children
4. New Member Garden Party Dedication at the Newly Restored West
5. Honorees, Frederick Law Olmsted Awards Luncheon 110th Street Playground
6. Taste of Summer 11. Central Park Scholars Presentation
Events & ProgramsFriendship
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1. Playground Partners & Patrons Party 7. Peter Jay Sharp Children’s Glade Dedication
2. Brodsky Family Dedication at the Greywacke 8. The Contemplation Circle Dedication in the
Arch Landscape Arthur Ross Pinetum
3. Earth Day at the Great Hill 9. Marathon Breakfast at the Charles A. Dana
4. Ice-Skating Party at Wollman Rink Discovery Center
5. John Lithgow at Meet the Author Series at the Dairy 10. Professional Development Program at the
6. Volunteer Recognition Reception at the Boathouse Restaurant North Meadow Recreation Center
11. Roslyn and Elliot Jaffe Family Endowment
Dedication at Grand Army Plaza
Events & ProgramsFriendship
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Independent Auditors' Report
The Board of TrusteesCentral Park Conservancy, Inc.:
We have audited the accompanying balance sheets of Central Park Conservancy, Inc. (the Conservancy) as ofJune 30, 2007 and 2006, and the related statements of activities and cash flows for the years then ended. Thesefinancial statements are the responsibility of the Conservancy’s management. Our responsibility is to express anopinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America.Those standards require that we plan and perform the audit to obtain reasonable assurance about whether thefinancial statements are free of material misstatement. Our audit included consideration of internal control overfinancial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not forthe purpose of expressing an opinion on the effectiveness of the Conservancy’s internal control over financialreporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidencesupporting the amounts and disclosures in the financial statements, assessing the accounting principles used andsignificant estimates made by management, as well as evaluating the overall financial statement presentation.We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financialposition of Central Park Conservancy, Inc. as of June 30, 2007 and 2006, and the changes in its net assets and itscash flows for the years then ended in conformity with U.S. generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole.The supplementary information included in schedule 1 is presented for purposes of additional analysis and is nota required part of the basic financial statements. Such information has been subjected to the auditing proceduresapplied in the audit of the 2007 basic financial statements and, in our opinion, is fairly stated in all materialrespects in relation to the 2007 basic financial statements taken as a whole.
November 6, 2007
Central Park Conservancy, Inc.Financial Statements and ScheduleJune 30, 2007 and 2006
Balance SheetsJune 30, 2007 and 2006(Dollars in thousands)
AssetsCashShort-term investments (note 3)Accounts receivable (note 11)Prepaid expenses and other assetsInventoryContributions receivable, net (note 4)Other investments (note 3)Investments held under split-interest agreements457(b) deferred compensation plan (note 9)Fixed assets, net (note 5)
Total assets
Liabilities and Net AssetsLiabilities:
Accounts payable and accrued expenses (note 10)Deferred revenueLiabilities under split-interest agreements457(b) deferred compensation plan liability (note 9)
Total liabilitiesNet assets:
Unrestricted:Available for operationsBoard designated (note 6)
Total unrestrictedTemporarily restricted (note 6)Permanently restricted (note 6)
Total net assetsTotal liabilities and net assets
See accompanying notes to financial statements.
2007$ 1,760
27,3546,214197115
22,550141,551
55775638
$ 201,011
$ 3,56827032175
4,234
12,80561,31174,11661,34561,316
196,777$ 201,011
2006$ 1,848
31,3361,813117113
21,708114,231
531—
513$ 172,210
$ 4,667300318—
5,285
6,73554,45061,18551,64054,100
166,925$ 172,210
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UnrestrictedTotals
Statement of ActivitiesYear ended June 30, 2007(With comparative totals for 2006)(Dollars in thousands)
Revenues, gains, and other support:ContributionsRevenue from the City of New York:
Contract revenue (note 11)Project revenue (note 11)
Special events revenueLess expenses incurred for special events
Interest and dividends, net of investment expenses of $1,145Net gain on sale of investmentsChange in unrealized gain (loss) on investmentsChange in value of split-interest agreementsOther (note 8)
Total revenues, gains, and lossesNet assets released from restrictions:
Contributions, other revenues, and gains (losses)Administrative cost recovery
Total net assets released from restrictionsTotal revenues, gains, and other support
Expenses:Program services:
Design and constructionHorticulture, maintenance, and operationsVisitor services
Total program servicesSupporting services:
Fund-raisingManagement and general
Total supporting servicesTotal expensesIncrease in net assets before transfers
TransfersIncrease in net assets
Net assets at beginning of yearNet assets at end of year
See accompanying notes to financial statements.
Operations
$ 7,381
4,579—
3,700
2,8911,15030——
1,99318,024
19,7552,40322,15840,182
12,93413,4653,16229,561
4,6273,5228,14937,7102,4723,5986,0706,735
$ 12,805
Boarddesignated
$ 7,546
—2,748
———
2824,1003,34513—
18,034
—
10,459
————
————
10,459
6,86154,450
$ 61,311
Totalunrestricted
$ 14,927
4,5792,7483,700
2,8911,4324,1303,34513
1,99336,058
12,1802,40314,58350,641
12,93413,4653,16229,561
4,6273,5228,14937,71012,931
—12,93161,185
$ 74,116
Temporarilyrestricted
$ 5,759
—287———
5519,5597,845
—287
24,288
9,705
————
————
9,705—
9,70551,640
$ 61,345
Permanentlyrestricted
$ 5,551
—————12722931——
7,216
———
7,216
————
————
7,216—
7,21654,100
$ 61,316
2007
$ 26,237
4,5793,0353,700
2,8911,99514,41112,121
132,28067,562
———
67,562
12,93413,4653,16229,561
4,6273,5228,14937,71029,852
—29,852166,925
$ 196,777
2006
$ 38,192
2,8753,2933,612
2,830921
14,582
2,05162,810
———
62,810
13,00112,7912,83828,630
4,4373,3877,82436,45426,356
—26,356140,569
$ 166,925
(7,575)
(809)
(7,575)
(3,598)
(809)
(12,180)(2,403)(14,583)
(809) (782)
(1,923)(11)
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Statement of ActivitiesYear ended June 30, 2006(Dollars in thousands)
Unrestricted
Revenues, gains, and other support:ContributionsRevenue from the City of New York:
Contract revenue (note 11)Project revenue (note 11)
Special events revenueLess expenses incurred for special events
Interest and dividends, net of investment expenses of $1,088Net gain (loss) on sale of investmentsChange in unrealized gain on investmentsChange in value of split-interest agreementsOther (note 8)
Total revenues, gains, and lossesNet assets released from restrictions:
Contributions, other revenues, and gains (losses)Administrative cost recovery
Total net assets released from restrictionsTotal revenues, gains, and other support
Expenses:Program services:
Design and constructionHorticulture, maintenance, and operationsVisitor services
Total program servicesSupporting services:
Fund-raisingManagement and general
Total supporting servicesTotal expensesIncrease in net assets before transfers
Transfers(Decrease) increase in net assets
Net assets at beginning of yearNet assets at end of year
See accompanying notes to financial statements.
Operations
$ 7,208
2,875—
3,612
2,830867
——
1,81415,572
20,4461,55422,00037,572
13,00112,7912,83828,630
4,4373,3877,82436,4541,118
10,602$ 6,735
Boarddesignated
$ 11,399
—————10
4,235
—15,076
—
13,202
————
————
13,2024,98518,18736,263
$ 54,450
Totalunrestricted
$ 18,607
2,875—
3,612
2,830877
4,213
1,81430,648
18,5721,55420,12650,774
13,00112,7912,83828,630
4,4373,3877,82436,45414,320
—14,32046,865
$ 61,185
Temporarilyrestricted
$ 16,118
—3,293
———40
9,446
—237
28,359
8,233
————
————
8,233—
8,23343,407
$ 51,640
Permanentlyrestricted
$ 3,467
—————4
923
——
3,803
———
3,803
————
————
3,803—
3,80350,297
$ 54,100
Totals
$ 38,192
2,8753,2933,612
2,830921
14,582
2,05162,810
———
62,810
13,00112,7912,83828,630
4,4373,3877,82436,45426,356
—26,356140,569
$ 166,925
(782)
(22)
(4,985)(3,867)
(557)(11)
(1,874)
(1,874)
(782)
(775) (591)
(782)
(1,923)(11)
(18,572)(1,554)(20,126)
(557)(11)
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Central Park Conservancy, Inc.Notes to Financial StatementsJune 30, 2007 and 2006(Dollars in thousands)
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Statements of Cash FlowsYears ended June 30, 2007 and 2006(Dollars in thousands)
Cash flows from operating activities:Increase in net assetsAdjustments to reconcile increase in net assets to
net cash (used in) provided by operating activities:Depreciation and amortizationChange in unrealized (gain) loss on investmentsNet gain on sale of investmentsChange in value of split-interest agreementsPermanently restricted contributions classified asfinancing activities
Changes in operating assets and liabilities:(Increase) decrease in accounts receivableIncrease in prepaid expenses and other assets(Increase) decrease in inventoryIncrease in contributions receivable, net of amounts
classified as financing activities(Decrease) increase in accounts payable and
accrued expenses(Decrease) increase in deferred revenue
Net cash (used in) provided by operating activitiesCash flows from investing activities:
Proceeds from sale of investmentsPurchases of investmentsAcquisition of fixed assets
Net cash provided by (used in) investing activitiesCash flows from financing activities:
Permanently restricted contributionsDecrease (increase) in restricted contributions receivableNet change in split-interest agreements
Net cash provided by (used in) financing activitiesNet (decrease) increase in cash
Cash at beginning of yearCash at end of year
See accompanying notes to financial statements.
(12,121)(14,411)
(5,551)
(4,401)(80)(2)
(2,124)
(1,099)(30)
(9,705)
(90,014)(374)
(88)
(14,582)(11)
(3,467)
(10)
(3,451)
(139,818)(191)
(8,571)
(4,714)(41)
(1,288)
1. OrganizationCentral Park Conservancy, Inc. (the Conservancy) is a not-for-profit organization incorporated under thelaws of New York State and is a tax-exempt organization under the Internal Revenue Code.
The Conservancy is funded primarily from contributions made by individuals, corporations, and foundationswithin the metropolitan area, as well as project and contract revenue from the City of New York Departmentof Parks and Recreation. These amounts are used to fund major capital improvements, provide horticulturalcare and maintenance, and offer programs for volunteers and visitors of Central Park. The major capitalimprovements are not capitalized assets of the Conservancy but are assets of the City of New York.
2. Summary of Significant Accounting Policiesa. Basis of Accounting
The accompanying financial statements have been prepared on the accrual basis.
b. Basis of PresentationNet assets and revenues, expenses, gains, and losses are classified based on the existence or absence of
donor-imposed restrictions. Accordingly, the net assets of the Conservancy and changes therein areclassified and reported as follows:
Unrestricted net assets – Net assets that are not subject to donor-imposed restrictions. However,the board of trustees may choose to designate such funds for particular uses.Temporarily restricted net assets – Net assets subject to donor-imposed restrictions that will be meteither by actions of the Conservancy and/or the passage of time.Permanently restricted net assets – Net assets subject to donor-imposed restrictions that theConservancy maintains permanently. Generally, the donors of these assets permit the Conservancyto use all or part of the income earned on related investments for general or specific purposes.
Revenues, gains, and other support are reported as increases in unrestricted net assets unless their use is limitedby explicit donor-imposed restrictions or by law. Expenses are reported as decreases in unrestricted netassets. Gains and losses on investments and other assets or liabilities are reported as increases or decreasesin unrestricted net assets unless their use is restricted by explicit donor stipulation or by law. Expirationsof temporary restrictions on net assets (i.e., the donor-imposed stipulated purpose has been fulfilledand/or the stipulated time period has elapsed) are reported as net assets released from restrictions.
c. ContributionsContributions, which include unconditional promises to give (pledges), are recognized as revenues in theperiod in which the pledge or cash is received. Unconditional promises to give that are expected to becollected in future years are recorded at the present value of their estimated future cash flows, net ofallowances. Conditional promises to give are not recognized until they become unconditional, that is,when the future and uncertain event on which they depend has occurred.
2007 2006
1,691
983300
10,256
131,438
$ 29,852 $ 26,356
249 2931,923
13
93,136
2,748
5,5511,28236
6,869
1,848$ 1,760
3,467
3971,451
$ 1,848
231
3130
d. InvestmentsInvestments are carried at fair value. Fair value is based on published market prices for marketable
securities. The fair value of the hedge funds are reported by the fund managers. The Conservancy reviewsand evaluates the values provided by the external fund managers and agrees with the valuation methods andassumptions used in determining the fair value of the funds. Donated securities are measured at fair valueat the date of the contribution.
e. Fixed AssetsFixed assets are recorded at cost. Furniture and equipment are depreciated using the straight-line methodover their estimated useful lives. Leasehold improvements are amortized over the term of the lease or lifeof the asset, whichever is shorter.
f. Split-Interest AgreementsThe Conservancy’s split-interest agreements with donors consist primarily of charitable gift annuities andirrevocable charitable remainder trusts for which the Conservancy serves as trustee. Assets are invested andpayments are made to donors and/or other beneficiaries in accordance with the respective agreements.
Contribution revenue for charitable gift annuities and charitable remainder trusts is recognized at thedate the agreement is established, net of the liability recorded for the present value of the estimated futurepayments to be made to the respective donors and/or other beneficiaries.
The present value of payments to beneficiaries of charitable gift annuities and charitable remainder trustsis calculated using discount rates which represent the risk-free rates in existence at the date of the gift. Gainsor losses resulting from changes in actuarial assumptions and accretions of the discount are recorded asincreases or decreases in the respective net asset class in the accompanying statements of activities.
g. Cash and Cash EquivalentsFor the purpose of the statement of cash flows, the Conservancy considers highly liquid investments purchasedwith an original maturity of three months or less, other than those held in the investment portfolio, to becash equivalents.
h. Use of EstimatesThe preparation of financial statements in conformity with U.S. generally accepted accounting principlesrequires management to make estimates and assumptions that affect the reported amounts of assets andliabilities and disclosure of contingencies at the date of the financial statements and the reported amountsof revenues and expenses during the reporting period. Actual results could differ from those estimates.
i. Functional Allocation of ExpensesThe costs of providing the various programs and other activities of the Conservancy have been summarized ona functional basis in the accompanying statements of activities. Accordingly, certain costs have beenallocated among the programs and supporting services benefited.
j. ReclassificationsCertain amounts in the 2006 financial statements have been reclassified to conform to the 2007 presentation.
3. InvestmentsA summary of investments at June 30, 2007 and 2006 is as follows:
The Conservancy maintains an investment pool that consists of the “other investments” described in the sum-mary above. The Conservancy’s board of trustees has authorized a policy designed to preserve the value ofthese pooled investments in real terms (after inflation) and provide a predictable flow of funds to supportoperations. The Conservancy’s investment pool includes contributions, interest, dividends, and realized andunrealized gains and losses, net of investment management fees. The policy permits the use of a spendingrate of up to a maximum of 6% applied to a moving average of the value of the investment pool as ofDecember 31 of the three previous years. In fiscal 2007 and 2006, the Conservancy utilized a rate of 4.0%and 4.5%, respectively, of the total investment pool. In fiscal 2007 and 2006 the related amounts that wereused to support operations were $4,109 and $4,005, respectively.
4. Contributions ReceivableContributions receivable at June 30, 2007 and 2006 are due to be collected as follows:
Fair value
Less than one yearOne to five yearsFive years and thereafter
Less allowanceLess discount to present value
(at rates ranging from 2.5% – 6.2%)Contributions receivable, net
2007$ 9,290
13,3561,90024,546(347)
(1,649)$ 22,550
2006$ 7,591
13,6802,47723,748(356)
(1,684)$ 21,708
Short-term investments:Cash equivalents
Other investments:Money market and mutual fundsCommon stocksHedge funds
2007
$ 27,354
$ 31,735103,3556,461
$ 141,551
2006
$ 31,336
$ 31,41980,0262,786
$ 114,231
5. Fixed AssetsA summary of fixed assets at June 30, 2007 and 2006 is as follows:
6. Net AssetsUnrestricted-Board designatedUnrestricted-board designated net assets are available for the following purposes at June 30, 2007 and 2006:
Temporarily Restricted Net AssetsTemporarily restricted net assets are available for the following purposes at June 30, 2007 and 2006:
Permanently Restricted Net AssetsPermanently restricted net assets are restricted to investment in perpetuity, the income from which isexpendable to support the following purposes at June 30, 2007 and 2006:
3332
The Campaign for Central ParkThe Conservancy recorded $13,930 and $27,557 in campaign contributions in all net asset classifications forthe years ended June 30, 2007 and 2006, respectively.
Donor and board designated net assets for the Campaign for Central Park included in unrestricted,temporarily restricted, and permanently restricted net assets at June 30, 2007 and 2006 are as follows:
7. Line of CreditThe Conservancy has a $1,000 line of credit available from JPMorgan Chase Bank (the Bank).
The line of credit is available for renewable one-year periods unless terminated by the Bank or the Conservancy.Interest will accrue at either the Bank’s prime rate or at a fixed rate (based on money market rate) quoted bythe Bank for 30, 60, or 90 days, at the Conservancy’s option at the time of borrowing. No amounts wereoutstanding under this line of credit at June 30, 2007 and 2006.
8. Other Revenue, Contributed Services, and FacilitiesA summary of other revenue at June 30, 2007 and 2006 is as follows:
The Conservancy receives contributed legal advice, office space, and utilities. The value of these servicesis recorded in the Conservancy’s financial statements and is included as other revenue and allocated tofunctional expenses in the statements of activities.
In addition, many individuals have volunteered their time to the Conservancy. The value of these services isnot included in the accompanying financial statements.
9. Retirement PlanThe Conservancy has a defined contribution retirement plan (the Plan) under Section 403(b) of the InternalRevenue Code in which all employees, as defined, are eligible to participate. Participants may make voluntarycontributions, subject to plan limitations, to be applied toward the purchase of retirement annuities. TheConservancy is obligated to contribute 5% of the employee’s base compensation, for all eligible employees,
Furniture and fixturesOffice equipmentLeasehold improvements
Less accumulated depreciationand amortization
2006$ 4032,934412
3,749
(3,236)$ 513
Estimateduseful lives5 to10 years
3 years10 years
2007$ 431
3,280412
4,123
(3,485)$ 638
Design and constructionHorticulture, maintenance, and operationsVisitor servicesGeneral purposes
2006$ 13,402
14,13594
26,819$ 54,450
2007$ 22,194
17,501116
21,500$ 61,311
Design and constructionHorticulture, maintenance, and operationsVisitor servicesGeneral purposes
2006$ 17,094
29,4944,731321
$ 51,640
2007$ 12,006
42,9545,900485
$ 61,345
Horticulture, maintenance, and operationsVisitor servicesGeneral purposes
2006$ 46,572
3,9433,585
$ 54,100
2007$ 53,518
3,9433,855
$ 61,316
Net asset class:Unrestricted – board designatedTemporarily restrictedPermanently restricted
2006
$ 11,09217,5223,641
$ 32,255
2007
$ 14,93612,8656,803
$ 34,604
Merchandise sales, program revenue, and feesContributed services and facilities
2006$ 1,253
798$ 2,051
2007$ 1,455
825$ 2,280
as defined. The Conservancy is also obligated to match employee contributions up to a maximum of 1% of theemployee’s base compensation, for all eligible employees, as defined. For the years ended June 30, 2007 and 2006,the Conservancy contributed $736 and $712, respectively, to the Plan on behalf of itsemployees. All contributions vest immediately.
In fiscal 2007, the Conservancy implemented a deferred compensation plan (the Plan) under Section 457(b)of the Internal Revenue Code in which the Conservancy will contribute $15 per annum for each officer ofthe Conservancy, as defined. For the year ended June 30, 2007, the Conservancy contributed $75 to the deferredcompensation plan.
10. Commitments and ContingenciesLeaseThe Conservancy has a lease agreement for office space in New York City expiring in 2013. Annual leasepayments include minimum base rent subject to escalation charges and a proportionate share of any increasein real estate taxes. The Conservancy received rent abatement for the first four months of the lease. Rentexpense each year is based on the total lease commitment recognized over the life of the lease on a straight-linebasis. A deferred rent obligation, $16 in 2007 and $38 in 2006, included in accounts payable and accruedexpenses, has been established for the cumulative difference between rent expense recognized and the amountspaid on the lease.
Future minimum lease payments are as follows:
Rent expense for the years ended June 30, 2007 and 2006 was $324 and $306, respectively.
OtherThe Conservancy is involved in various claims and legal actions arising in the ordinary course of business.In the opinion of the Conservancy’s management, the ultimate disposition of these matters will not have amaterial adverse effect on the Conservancy’s financial condition.
34 35
11. Contract RevenueIn April 2006, the Conservancy renewed its eight-year management contract with the City of New York andthe Department of Parks and Recreation, retroactive to July 1, 2005. Commencing on July 1, 2005, in orderto be entitled to payments from the Department of Parks and Recreation, the Conservancy must raise andexpend annually a minimum of $5,000 for maintenance and repairs, public programs, landscaping andrehabilitation, or repair of existing facilities, subject to certain exclusions. In exchange for meeting thoserequirements, the Department of Parks and Recreation will pay the Conservancy a minimum of $1,000,which is required by contract to be expended for specific services. This minimum payment can be increasedup to a maximum of $2,000 by formula, based on the amount by which the Conservancy exceeds its $5,000threshold in any one year.
Under this contract, the Conservancy is also entitled to a payment equal to a portion of net concession revenueearned in Central Park. The Conservancy receives an amount equal to 50% of net concessionrevenue earned in excess of $6,000, measured as of the prior fiscal year. Additional revenue received by theConservancy for fiscal 2007 and 2006 was $1,981 and $1,662, respectively. The contractual arrangement mayonly be terminated under specific conditions outlined in the agreement.
The Conservancy recognizes revenue in connection with this contract as expenditures are made for specificservices. In fiscal 2007 and 2006, the Conservancy recognized as revenue and expended $4,579 and $2,875respectively, related to the contract. At June 30, 2007 and 2006, the related receivable was $1,427 and $100,respectively.
Project RevenueIn March 2007, the Conservancy entered into a contract for capital projects for the Campaign for CentralPark with the City of New York and the Department of Parks and Recreation, retroactive to July 1, 2006.Payment is on a reimbursement basis for eligible expenses incurred by the Conservancy, with the funds madeavailable at a rate of up to $3,571 annually for seven years beginning in fiscal 2007.
The Conservancy recognizes revenue in connection with this contract as expenditures are made. In fiscal2007, the Conservancy recognized $2,748 for project revenue under the campaign.
Year ending June 30:200820092010201120122013
Amount
$ 397524524524524393
$ 2,886
37
Schedule of Functional ExpensesYear ended June 30, 2007(With comparative totals for 2006)(Dollars in thousands)
Schedule 1
36
SalariesPayroll taxes and employee benefits
Total salaries and related expenses
Contracted services:Construction and designLandscapeConsultingMailingsOther
Total contracted services
Materials, equipment, and suppliesPrinting and publicationsConferences, conventions, and meetingsPostage, shipping, and messengerTravelEquipment maintenance and rentalsInsuranceOccupancyAdvertisingMiscellaneousBad debtsContributed services
Total expenses before depreciationand amortization
Depreciation and amortizationTotal expenses – 2007Total expenses – 2006
See accompanying independent auditors report.
Program services Supporting services Total Expenses
Design andconstruction$ 1,809
4842,293
7,967—54—21
8,042
1,730555111
4151852047—
1542,587
12,922
12$ 12,934$ 13,001
Visitorservices$ 1,672
3772,049
——
271—13284
3164235—5934047121—
202802
3,135
27$ 3,162$ 2,838
Horticulture,maintenance,and operations
$ 7,4091,8599,268
505616130—
3881,639
1,5593022122
263181475
174—
1502,445
13,352
113$ 13,465$ 12,791
Total$ 10,890
2,72013,610
8,472616455—
4229,965
3,60512762238
77140611410202—
5065,834
29,409
152$ 29,561$ 28,630
Fund-raising$ 1613
4372,050
——
181591295
1,067
96148522862
119692052768100278
1,450
4,567
60$ 4,627$ 4,437
Managementand general$ 1,776
4932,269
——
244—
154398
5612527354404417340233—41818
3,485
37$ 3,522$ 3,387
Total$ 3,389
9304,319
——
425591449
1,465
152273793216
15911337867301100319
2,268
8,052
97$ 8,149$ 7,824
2007$ 14,279
3,65017,929
8,472616880591871
11,430
3,7574001413441493051949277503100825
8,102
37,461
249$ 37,710
2006$ 12,993
3,42116,414
9,849402879567764
12,461
3,4954231543598
70932353132258196798
7,286
36,161
293
$ 36,454
3938
Board of Trustees(on October 1, 2007)
ChairmanA.J.C. Smith
TreasurerMichael GrobsteinRetired Vice ChairmanErnst & Young
Secretary and General CounselKenneth H. Heitner, Esq.PartnerWeil, Gotshal & Manges LLP
Judy Hart AngeloSongwriter
Jane BayardExecutive Vice PresidentWarburg Realty Partnership Ltd.
Hon. Adrian BenepeCommissionerCity of New York/Parks & Recreation
Candice Bergen
Douglas BlonskyPresident & Central Park AdministratorCentral Park Conservancy
Estrellita Brodsky
Judy Carson
Richard CashinManaging PartnerOne Equity Partners
Howard L. Clark, Jr.Vice ChairmanLehman Brothers, Inc.
Jean Clark
Suzanne Cochran
Norma T. Dana
Gordon J. Davis, Esq.PartnerDewey & LeBoeuf LLP
Richard GilderPartnerGilder, Gagnon, Howe & Co. LLC
William T. Golden*
William B. Harrison, Jr.Former Chairman and CEOJPMorgan Chase & Co.
Jane HellerSenior Vice PresidentBank of America
Marlene Hess
Thomas L. Kempner, Jr.Managing PartnerDavidson Kempner Capital Management
Kay KoplovitzPrincipalKoplovitz & Co. LLC
Sheila C. Labrecque
Evelyn H. LauderSenior Corporate Vice PresidentThe Estée Lauder Companies Inc.
Edward LewisChairman & FounderEssence Magazine
William M. Lewis, Jr.Co-Chairman of Investment BankingLazard Frères & Co. LLC
Jay P. MandelbaumExecutive Vice PresidentJPMorgan Chase & Co.
Lynden B. MillerLynden B. Miller Public Gardens Design
Madeleine MoorePresidentAARP New York
Kenneth S. Olshan
Nancy PaduanoPresident, Women’s CommitteeCentral Park Conservancy
Joe L. RobyChairman EmeritusCredit Suisse Securities (USA) LLC
Eric RudinExecutive Vice PresidentRudin Management Co.
Michele SacconaghiVice President for Corporate CitizenshipTime Warner
Irwin SchneidermanSenior CounselCahill Gordon & Reindel LLP
Donna Schwartz
Rae Paige Schwarz
Norman C. SelbySenior Managing DirectorPerseus LLC
Donald G. SmithPresident & Chief Investment OfficerDonald Smith & Co.
Barbara Smith-GasbyChief Executive OfficerB. Smith Enterprises
Michael A. SteinbergPresidentSteinberg Asset Management Co., Inc.
Erana M. StennettBloomberg
John StosselCo-AnchorABC News
Hon. Scott StringerManhattan Borough President
Stuart SubotnickPartner and Chief Operating OfficerMetromedia Company
Elizabeth R. VaretChairmanAmerican Securities, L.P.
Mary Wallach
Ali E. WamboldManaging DirectorLazard Frères & Co. LLC
Life Trustees
William S. BeineckeAntaeus Enterprises, Inc.
Lewis W. BernardChairmanClassroom, Inc.
James H. Evans
Henry R. KravisFounding PartnerKohlberg Kravis Roberts & Co.
Ira M. Millstein, Esq.Senior PartnerWeil, Gotshal & Manges LLP
Marguerite H. Purnell
Elizabeth Barlow RogersPresidentFoundation for Landscape Studies
E. John Rosenwald, Jr.Vice ChairmanBear Stearns & Co. Inc.
Arthur Ross*Vice ChairmanCentral National-Gottesman Inc.
Joan C. Schwartz
Phyllis Cerf Wagner*
* deceased
Phyllis Wagner (1916 – 2006) was a founding member of the Women’s Committeeand served as its President from 1989 to 1991, and had been a ConservancyTrustee since 1989. Phyllis’s extraordinary talent and expertise in the literaryand advertising fields helped to establish — to name just two of her highlysuccessful Women’s Committee projects — the Adopt-A-Bench programand the creation of the Frederick Law Olmsted Awards Luncheon with herco-founders Norma Dana, Jean Clark, and Marguerite Purnell.
Arthur Ross (1910 – 2007) served as a Trustee since the Conservancy’s foundingin 1980. He was a member of the Central Park Community Trust, which latermerged with the Central Park Task Force to become the Central Park Conservancy.His visionary and outstanding support is evident in the tranquil beauty andgrandeur of Central Park’s Arthur Ross Pinetum, which he established in 1971and endowed in 2004. Arthur provided sustaining annual support for manyConservancy programs, as well as funded the restoration of the Mall’s WisteriaPergola, Conservatory Garden’s Vanderbilt Gate, and Ladies’ Pavilion atHernshead.
William T. Golden (1910 – 2007) served as a Trustee since the Conservancy’sfounding in 1980. Bill was an investment banker, and as a philanthropist, he wasa generous donor to the Conservancy. Though he supported many Parkinitiatives, his greatest contribution was perhaps his generous funding of thestate-of-the-art Soil, Water, and Ecology Laboratory at the North MeadowRecreation Center, which tends to the Park’s ecological needs.
This year the Central Park Conservancy’s Board of Trustees, Women’s Committee, and staff deeply mourn theloss of longtime Trustees Phyllis Cerf Wagner, Arthur Ross, and William Golden, three of New York City’s leadingphilanthropists and humanitarians.
40
Women’s Committee(On October 1, 2007)
FoundersMrs. Howard L. ClarkMrs. Charles A. Dana, Jr.Mrs. Richard I. PurnellMrs. Phyllis Cerf Wagner*
Board of DirectorsPresidentMrs. Daniel P. Paduano
Past PresidentsMrs. Robert CochranMrs. Thomas G. LabrecqueMrs. Richard S. LeFrakMrs. Joseph V. Missett IIIMrs. Charles D. Peebler, Jr.Mrs. Wilbur L. Ross, Jr.Mrs. Jack Rudin
Executive Vice PresidentBetsy Messerschmitt
Vice PresidentsBambi de la GueronniereMrs. Michael KennedyMrs. Sylvester F. Miniter IV
SecretaryMrs. Jonathan Churchill
TreasurerMrs. Wendy N. Carduner
Mrs. Elaine MurrayMrs. Rand V. AraskogMrs. Robin Bell-StevensMr. Douglas Blonsky, ex officioSusan CalhounMs. Allison CowlesMrs. Charles F. FortgangMrs. William B. Harrison, JrMrs. James HerringMrs. John HilsonMrs. Ara HovnanianMrs. William H. IngramMrs. Carlisle JonesMrs. Kenneth JosephMrs. Memrie M. LewisMrs. Dan LufkinMrs. M. Anthony MayMrs. Donald K. MillerMrs. George Braniff MooreMrs. Jeffrey M. PeekMrs. William M. Pope, Jr.Mrs. John S. PyneMrs. Julian H. Robertson, Jr.Hon. Allison Whipple RockefellerElizabeth Barlow RogersMrs. Benjamin M. RosenMrs. Alexia Hamm RyanMrs. H. Virgil SherrillMrs. Mark L. ShifkeMrs. A. J. C. SmithElizabeth F. StriblingMs. Samantha S. Topping
Miss Thorunn WathneMrs. Robert Yaffa
Advisory BoardMrs. Neil P. BenedictMrs. Livio M. BorgheseDr. Joyce F. BrownMrs. Raymond G. ChambersMrs. Walter J. CurleyMrs. Walter G. Dunnington, Jr.Mrs. Anne FordMrs. Lee M. Gammill, Jr.Mrs. Robert M. GardinerMrs. Louis V. Gerstner, Jr.Mrs. S. Parker GilbertMrs. Alan C. GreenbergMrs. Peter S. GregoryMrs. Ridgely HarrisonMrs. Richard MishaanMrs. Fernanda NivenDeborah NorvilleMrs. Patricia S. PattersonMrs. George H. Shattuck, Jr.Mrs. Lawrence D. SperlingMrs. George H. TilghmanMrs. Grant WinthropMrs. H. Joseph Witte
4140
Central Park ConservancyManagement and Staff(on October 1, 2007)
*New York City Department ofPark & Recreation employees
President and Central Park AdministratorDouglas Blonsky
Vice President for OperationsNeil Calvanese
Vice President of Development andExternal AffairsTerri Coppersmith
Vice President for Capital ProjectsChristopher Nolan
Vice President of Development andCapital CampaignDiane Schoenthal
CFO and Vice President forFinance and AdministrationStephen Spinelli
Employees20 or More YearsWilliam BerlinerDouglas BlonskyNeil CalvaneseGary Drennon*James M. EgglestonMilton EvoraEdward Gazzetti*Sotha KangAndrew KonopkaMark Litvak*Jose Lopez*Horace Mike*Sara Cedar MillerCornelio MoraEmilio Morales*Steven NortonCharles OberyDominic Quaglia*Rafael Quinones*Darren RogersJulius Solano*Louis Urruttia-OrmeLouis Young*Gladstone Younger*
15 to 19 YearsAlicia Alvenda-PaezLydia Bonet*Kea CheaMarvin FergusonJose FigueroaJames FlemingAndrea HillLouis JohnsonVanthon KeoYean KhievKenneth Love*Christopher Nolan
Pedro PeraltaJose Rivera*Jose RodriguezValentin Ruiz*Hannah Ryan*Christine SeitaLinton SmithKhol SokNorma SotoEdward Valarezo*Juan C. VargasSamuel VargasMario VaughanDaniel S. WallaceMario Zafarana
10 to 14 YearsRegina V. AlvarezPedro AugustoMartin CalzadillaRonise CoxKathleen CreggWilliam Crespo*Keith Dore*Raymond DugganJohn Felicies*Wendy FortuneMaria HernandezJohn HiserWayne LightySuntov LyJoseph McBainGeorge Morris*Giovanni MosqueraNelson Nicholas*Vi OngJoaquim PereiraMichael Ryan*Diane SchaubBill SelezniovPaul SerraThan SounStephen SpinelliPhen SuyBryan Swan*Juan ValentinDario VeraldiDerrick WoodburyZully Zurheide*
5 to 9 YearsEric AndersonAlice BaerLarry BaskervilleRobert BennettEd BensonJairam BisessarJill BristowKelly CarrolTeresa CartaJesse CohenBrian ConatyAngel CorbettVictor CorporanGary R. DearbornLawrence DeckerQuezon Dela CruzLaura Frank
Russell FredericksHector O. GamboaSparks GrasslyMargarita HaasBeth HaskellNereida HernandezAnnamarie HessmanLinda HeywardRith HunRandolph JosephSheila KendallEric KohlerDaisy Le’GareAlice LichtensteinKeiron C. LindsayFrancisco LunaMelissa Marion-BurfordDerrick McElveenGeorge W. McPherson Jr.Nicole MeyersonEarl P. MunroeCheryl NeldonEmma NelsonAntonio NievesKhen OngKathryn OrtizFlorence O’ShaughnessyChantha PangCatherine ParryMauricio A. PerdomoAnthony PontilloWilliam QuansahJohn ReddickJames ReedSergio A. RicanoRonald SandersGoodson SemStacy SitReginald Tart Sr.Lydia ThomasTrung TruongDavid H. TurnerRichard Van ValkenburgDouglas WellerWallace WentinkRobert WheartyMaryann Williams
1 to 4 YearsAdekunle AbodundeKelvin E. AbregoLane N. AddonizioGideon D. AhadziMelanie AlfonsoAlan AndersonMichael AtoriaOscar F. AyaquicaDavid BakerStephen M. BaldonadoBlossom BeasonLarry A. BoesSteven BoppMatthew I. BrownJulie BuzzeoAltagracia CartagenaLois E. CassidyJohn-Paul CatuscoAnna P. Colletti
Yarw CollinsAnderson ConserveMatthew T. CookTerri L. CoppersmithChristopher C. CousinoPablo R. CruzMatthew C. D’AmicoGeorge A. DavisStephen DeLuise*John P. DillonMichael D. DominickMark DouglasDeborah DruckerMathew DubitskyAgata DziemianczykAudra M. EaglenLindsay J. EmpricMichael T. EvansVanessa A. FranciscoShadai L. FranklinSteven FuscoKimberly A. GreenlandClarence R. HarrellJohn HarriganAbigail D. HealyJulio R. HernandezAlan N. HerskowitzKathryn A. HibschmanRochelle M. HinesJamaal L. KingDwight Knowles*John Y. KyteOrlando M. LanzaKathleen LessardRichard LombardiCruz LopezJulio LopezDiane K. LowySabrina LutchmanCarrie MajetteNicholas P. MarottaLauren B. MazerDonovan A. MitchellGabriel MitchellGulab Mohammad AyazPaula MorehouseJuan R. Morell Jr.Linda NewmanAlexander NievesSteven J. OppedalKathryn PapacosmaMaurice PapeikaGloria PlataAmy D. PrinceBrian T. PurcellDaniel RansomMatthew C. ReileyMichael RichardsonThomas E. RinaldiByron A. RobertsMichael RosarioRupert RussellElizabeth A. SaettaGary C. SaundersDiane B. SchoenthalRachel M. StephensonSilvia TamayoRaymond Verrey
Marie R. WarshStephen WilkinsonShagari WilliamsSteven A. WillisLakema S. WilsonJennifer K. WongLloyd E. Woodcock IIIBarbara Zay
Less Than 1 YearDavid AmbroseKathleen BahanJesse BattyThomas BehrendtMelody BenitezPatrick BurnsAdelle CaravanosAndrea ChienThomas CogswellApril CroftDaniel DalyAntonino D’AmbrosioCurtis Dann-MessierRobert DiazStephanie DonleyMarie-Anne DreherKira FinneyJoshua GalileyPavlo GusevLaura HallLawrence HendricksJustin HiragaTsay HuangMatthew MajorLinda MalleyGeta MarinJohn MartinezClaire McClaffertyThomas McEnteeOlga MexinaJonathan MigdenKristina NelsonTee C. NgiamJulie PalumboDiana ParadisBlaine PeckJill PriceCarlos ReyesMohanlal RoopnarineHeather RubensteinKatherine ShelegGloria C. ShenEric Whitaker
New York City Department ofParks & Recreation
Deputy Chief of OperationsNelson Nicholas
Park SupervisorsSteve DeLuiseMichael RyanZully Zurheide
Central Park Volunteers
20 Years or More
Abdul El-AminElinor FineRichard HooperLouise KrugerLouise RansomDeborah A. SolomonDoria Tenca
15 to 19 YearsMaureen AntizzoLee BarashMargery BloomCarmela CaputoBerton ChernizerFrank ComiskeyAbe DenowitzRita DenowitzPhyllis GiarroPhyllis HollanderMarjorie NaughtonAnni NewbeckMarie RenoFern StolperNancy Warfield
10 to 14 YearsSusan BaxterLois BeadleKelly BelfordRich BiglianoArthur BittermanBrigid BuchananVirginia GloverLillian HansenJacqueline JeffreyRaymond KnowlesEdna KonoffJudith LandriganMargery LairdJean MayNancy Meiselas-BernerJames NeffJudith Som
5 to 9 YearsNorma BaumDiane Fung BensonKathy BiglianoRuth BernsteinMarty BirnbaumLinda A BlumDonna BolkcomJane BreakstonePauline BrooksSusan ChagrinRichard DahliaBill DoddsBob EdmondsonMary EdmondsonBayla FalberPatricia FlammCris GleicherLucille GordonAnthony GosseThomas GriffingMary HabstrittChristel HaesickeSara Truslow Hardin
Foundation
4342
Gloria HegyMargaret HeimannNoel HollandYvonne HollandSteven HuppertGloria IlicKathy JenningsBlanche KaplanFrank KaplanJudy KatzMike W. KeenanLorraine KleinHerman KroshinskySuzi LeiterPaul LennerCharlotte LevineSusan LowryJerome MaiselSimona MoriniFlorence O’ShaughnessyAnn RaymondAndrea RaskinPedro RomanFrancine RileyRichard SchadFeola ScharfAaron SchechterKarl SchumanBilly SquierIda Crawford StewartJames TegenDonald WagonerConnie WelchGayle WellingDavid WestcottWeb Wheelock
1 to 4 YearsJustin AbelowRegina AlsisMargaret AlversonRachel AlzubiJoann Amparan-CloseRose ApplebaumLucimar AranjoMary BarknechtStuart BenickSarah BesseyGrady BestKaren BichardHarriet BlackerFred BlattbergEdwin BobrowAlexandra BonomoLinda BrazdaDion BrennanRosemarie BriaJohn BryanWendy ByrneDorothy CamporealeKimberly ChauNaomy ChauHans ChristensenJoseph CohenMichele D’AmatoGwen DanzigLorna DarmourJanet David
Henry DavisGerald DixonChris DonahueRobert EberSally EmeryMartin FaintKate FeldmanRay FinkelsteinDonald FlormanJoyce FlynnLinda FrankHarriet FrankelJoan FrohmanRobert FryeJulien GatesoupeYecenia GavilnesBarbara GellerDavid GouldMarjorie GrahamGabriella GraupnerHarry HarwoodIsabel HenellyClay HerrickErik HivelyMalcolm HoldernessDaniel HomanCharles HonigBill HubnerCindy IppolitiEfrain JaffeOdette JanavelNancy KahnHarold KaplanDavid KarabellSusanna KekkiKerrie KentSally KleinJudith LandriganSaul LaniadoEd LevineRoy LevitBrigitt Lewis-DiederichDavid MangionFrancina MorelKathy MundyHarmut MunkerBabette NadelmanCarol NemoRobert NemoClaribel NunezTom OlzenskiDaniel PassantinoDorothee Peiper-RiegrafDeborah PelosiBarbara PriestRashad RachellChrista RassmanBernice RavitzJohn RichardsOrrin RileyLars RosagerKerry RubensteinJoe SandfordJean SaremskyValerie SarrisMarie SaxeAnn SaydlowskiElaine Schechter
Barbara SchimanskyArnold SchoenfeldLinda SchottBarbara SchwimmerEleanor ShakinCarol SidleyWalter Francis SiebeckerEdith SladeRichard SonetLiz SorgPeter SzabagaLuisa TaddelJan TannenCatherine ThompsonNancy TollefsonJay TownsendPeggy VishnupadJohn WatersDiana WayburnAnn WhyteVictoria WilkinsVann WilliamsJay WilsonBarbara WithersRoberta WolfRobert WolkowJane WuE. Bingo WyerJill WynnRichard YeagerMary YerkesAnna Zagoloff
Back Cover: Minton Tile Team
Front Row (left to right): Brian Purcell, Sam Vargas, Rith Hun, Ed Benson, Jim Reed
Standing: Chris Nolan, David Turner, Jennifer Wong, Jeff Stein, Richard Lombardi, Diane Lowy, Yean Kiev, Elizabeth Saetta, James Fleming,
M.C. Reiley, Stephanie Lor, James Turner, Lane Addonizio, Doug Blonsky, Kelvin Abrego, John Harrigan, Commissioner Adrian Benepe,
Michael Dominick, Kimberly Greenland, Garret Klein, Brad Marcus, Dave Baker, Michael Ranere, Tom Rinaldi
Missing from photo: Louis Urruttia-Orme, Raymond Duggan, Kate Papacosma, John Topic, Teresa Duff, Andrea Darby, Amanda Davis, Ben Marcus
Annual Report produced by the Central Park Conservancy
Photos by Sara Cedar Miller except as noted
planning for the park s future
The restoration of the Minton tile ceiling at Bethesda Terrace was made possiblethrough a generous bequest from the Estate of Evelyn M. West, the lead funder.Ms. West, a lifelong historic preservationist, understood the importance of planningfor the future of our cherished Park and creating a legacy to ensure that its historicstructures and glorious landscapes are maintained for generations to come.
You too can create a lasting legacy for Central Park by including the Conservancy inyour estate plans. Be it a bequest, a charitable gift annuity, charitable lead or remaindertrust, gift of life insurance or retirement plan assets, your generosity and foresightwill allow the Park to flourish well into the future.
For more information about including Central Park in your estate plans:Phone: Office of Planned Giving, 212-310-6645E-mail: [email protected]
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