Royal Charter Properties - East Inc
- Assets
- $207.2m
- Revenue
- $67.6m
- Investments
- $3.7m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/1983
- Data as of
- 12/2022
- EIN
- 13-3158496
Organization Overview
Royal Charter Properties - East Inc is located in New York, NY. The organization was established in 1983. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Royal Charter Properties - East Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Royal Charter Properties - East Inc generated $67.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $66.6m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE AND HOLD DIRECT AND INDIRECT INTEREST IN REAL ESTATE AND TO COLLECT INCOME TO BE APPLIED EXCLUSIVELY TO CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES.
Describe the Organization's Program Activity:
THE PROFESSIONAL EMPLOYEES OF NEWYORK-PRESBYTERIAN HOSPITAL'S REAL ESTATE DEPARTMENT ARE DEDICATED TO PROVIDING THE HOSPITAL'S STAFF, VISITORS, AND GUESTS THE HIGHEST QUALITY OF CUSTOMER SERVICE IN ITS HOUSING, PARKING AND GUEST FACILITY ACCOMMODATIONS. UNDER THE UMBRELLA OF ROYAL CHARTER PROPERTIES THE STAFF STRIVES TO ENHANCE THE VALUE OF THE REAL ESTATE ASSETS AND INVESTMENTS THAT CONTRIBUTE TO THE HOSPITAL'S FISCAL WELL BEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Of Directors | Trustee | 0.1 | $0 |
Name Not Listed Board Of Directors | Trustee | 0.1 | $0 |
Name Not Listed Board Of Directors | Trustee | 0.1 | $0 |
Name Not Listed Vice Chairman | Trustee | 0.3 | $0 |
Name Not Listed Board Of Directors | Trustee | 0.1 | $0 |
Name Not Listed Chairman Emeritus | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cushman & Wakefield Management Services | 12/30/22 | $10,091,595 |
Laz Parking Parking Services | 12/30/22 | $1,993,596 |
Interstate Mechanical Services Inc Plumbing And Heating Services | 12/30/22 | $1,561,389 |
V Cloud Painting And Contracting Corp General Construction Service | 12/30/22 | $1,268,660 |
American Residential Contractors Ltd Construction Services | 12/30/22 | $990,987 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $66,564,391 |
| Investment income | $589,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,619,567 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,433,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $533,416 |
| Compensation of current officers, directors, key employees. | $533,416 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $361,058 |
| Pension plan accruals and contributions | $56,141 |
| Other employee benefits | $182,954 |
| Payroll taxes | $69,790 |
| Fees for services: Management | $748,221 |
| Fees for services: Legal | $55,896 |
| Fees for services: Accounting | $92,964 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,734,549 |
| Advertising and promotion | $0 |
| Office expenses | $1,553,955 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,061,169 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,878 |
| Interest | $4,955,956 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,664,976 |
| Insurance | $85,794 |
| All other expenses | $0 |
| Total functional expenses | $66,588,162 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,248,963 |
| Savings and temporary cash investments | $61,970,270 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,992,527 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $661,902 |
| Net Land, buildings, and equipment | $113,171,819 |
| Investments—publicly traded securities | $19,059,284 |
| Investments—other securities | $3,661,888 |
| Investments—program-related | $20,588 |
| Intangible assets | $0 |
| Other assets | $1,369,001 |
| Total assets | $207,156,242 |
| Accounts payable and accrued expenses | $4,562,694 |
| Grants payable | $0 |
| Deferred revenue | $1,192,824 |
| Tax-exempt bond liabilities | $200,546,095 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,304,809 |
| Total liabilities | $212,606,422 |
| Net assets without donor restrictions | -$5,450,180 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $207,156,242 |