Pier55 Inc
- Assets
- $269.0m
- Revenue
- $381.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-2703610
Organization Overview
Pier55 Inc is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pier55 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, Pier55 Inc generated $381.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (54.3%) each year. All expenses for the organization totaled $13.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARCHITECTURE, CONSULTANT, PROFESSIONAL EXPENSES INCURRED TO REDEVELOP AND REDESIGN THE PIER TO PROVIDE FLEXIBLE PARK AND EVENT SPACE.
HOSTING VISITORS WHO TAKE ADVANTAGE OF THE HORTICULTURE, LANDSCAPE, VIEWS, AUDIO TOURS AND VARIOUS PLAY ELEMENTS IN THE PARK. IN 2022 THE PARK HOSTED 1,317,592 PEOPLE.
PERFORMING FREE AND TICKETED COMEDY, DANCE, MUSIC, AND STORYTELLING SHOWS FOR THE PUBLIC. IN 2022, APPROXIMATELY 29,747 PEOPLE ATTENDED PERFORMANCES AT LITTLE ISLAND.
PROVIDING FREE EDUCATIONAL, CULTURAL, AND CELEBRATORY ACTIVITIES TO THE PUBLIC INCLUDING DANCE AND ART WORKSHOPS, FREE TICKETS TO PERFORMANCES, AND LOCAL SCHOOL GRADUATIONS. THROUGH THESE ACTIVITIES IN 2022, APPROXIMATELY 13,811 PEOPLE HAVE PARTICIPATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Diller Chair/president | 10 | $0 | |
Robert Hammond Director | 10 | $200,000 | |
Signe Nielsen Director | 1 | $0 | |
Robin Panovka Director | 1 | $0 | |
Jason Stewart Director | 1 | $0 | |
Alexandre Von Furstenberg Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brightview Landscapes Llc | 12/30/22 | $582,820 |
Aj Squared Security Inc | 12/30/22 | $405,816 |
Use Li F And B Management | 12/30/22 | $318,981 |
Littler Mendelson Pc | 12/30/22 | $244,100 |
Macktez Corporation | 12/30/22 | $217,964 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $222,948 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$231,446 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $31,200 |
| Profit on Inventory Sales | $390,417 |
| Other Income | $0 |
| Total Revenue | $381,919 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,175,880 |
| Other employee salaries and wages | $3,467,536 |
| Pension plans, employee benefits | $1,057,791 |
| Interest | $0 |
| Taxes | $35,746 |
| Depreciation | $627,560 |
| Occupancy | $202,839 |
| Travel, conferences, and meetings | $52,006 |
| Printing and publications | $26,021 |
| Other expenses | $3,488,742 |
| Total operating and administrative expenses | $13,007,957 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $13,007,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,595,780 |
| Savings and temporary cash investments | $32,648,510 |
| Net Accounts receivable | $3,045 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,875 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,955,880 |
| Other assets | $230,797,218 |
| Total assets | $269,005,308 |
| Accounts payable and accrued expenses | $498,455 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $498,455 |