Pier55 Inc
- Assets
- $281.4m
- Revenue
- $61.5m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2014
- Data as of
- 12/2021
- 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 12/2021, Pier55 Inc generated $61.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $16.7m during the year ending 12/2021. 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
2021
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.
LITTLE ISLAND IS A NEW PUBLIC PARK, LOCATED IN HUDSON RIVER PARK, WHERE ALL NEW YORKERS AND VISITORS CAN EXPERIENCE NATURE AND ART IN A UNIQUE URBAN OASIS ON THE HUDSON RIVER. THE PARK FEATURES A LUSH, SEASONAL, LANDSCAPE WITH ROLLING HILLS, WINDING PATHWAYS AND DAZZLING VIEWS COUPLED WITH PROGRAMMING THAT INCLUDES MUSIC, DANCE, THEATER, POETRY, COMEDY AND ARTS WORKSHOPS FOR ALL AGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Sanatini Executive Director | 40 | $320,385 | |
Celine Armstrong Project Manager | 40 | $294,140 | |
Robert Hammond Director | 5 | $200,000 | |
Laura Clement Chief Operating Officer | 40 | $188,672 | |
Julia Kraus Producer | 40 | $128,808 | |
Olivia Arnow Project Assistant | 40 | $127,820 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Technical Fabrication | 12/30/21 | $869,333 |
Brightview Landscapes Llc | 12/30/21 | $559,975 |
Savory Labs Llc | 12/30/21 | $412,486 |
Macktez Corporation | 12/30/21 | $368,638 |
Prg Scenic Technologies | 12/30/21 | $302,160 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $61,579,695 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,240 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$363,295 |
| Capital Gain Net Income | $18,816,400 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $253,579 |
| Other Income | $0 |
| Total Revenue | $61,475,219 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $962,949 |
| Other employee salaries and wages | $4,829,326 |
| Pension plans, employee benefits | $1,064,222 |
| Interest | $0 |
| Taxes | $18,965 |
| Depreciation | $301,998 |
| Occupancy | $199,006 |
| Travel, conferences, and meetings | $55,962 |
| Printing and publications | $43,369 |
| Other expenses | $4,597,933 |
| Total operating and administrative expenses | $16,727,418 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $16,727,418 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,545,678 |
| Savings and temporary cash investments | $47,128,291 |
| Net Accounts receivable | $34,354 |
| 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 | $3,800 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,188,981 |
| Other assets | $226,488,818 |
| Total assets | $281,389,922 |
| Accounts payable and accrued expenses | $460,896 |
| 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 | $460,896 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pier55 Inc has recieved totaling $5,000,000.
| Awarding Organization | Amount |
|---|---|
Herbert Allen Foundation New York, NY PURPOSE: UNSRESTRICTED | $5,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
City Parks Foundation Inc New York, NY | $46,351,327 | $21,146,324 |
Pier55 Inc New York, NY | $281,389,922 | $61,475,219 |
Bryant Park Corporation New York, NY | $13,271,219 | $15,814,011 |
Paul Simons Foundation Inc Stony Brook, NY | $121,782,003 | $9,487,542 |
Rosedale And Rosehill Cemetery Association Linden, NJ | $201,463,807 | $21,638,955 |
Prospect Park Alliance Inc Brooklyn, NY | $34,463,999 | $14,619,569 |
Avalon Nature Preserve Inc Stony Brook, NY | $43,010,885 | $9,560,636 |
The Pittsburgh Parks Conservancy Pittsburgh, PA | $20,284,178 | $5,028,888 |
Rose Fitzgerald Kennedy Greenway Conservancy Inc Boston, MA | $31,444,070 | $8,732,611 |
Ymca Of Marthas Vineyard Inc Vineyard Haven, MA | $24,356,522 | $5,436,042 |
Friends Of Hudson River Park Inc New York, NY | $3,524,338 | $4,419,034 |
White Haven Memorial Park Inc Pittsford, NY | $20,072,674 | $7,692,818 |