New Water Street Corporation
- Assets
- $805.9m
- Revenue
- $184.4m
- Investments
- $0.0
- Employees
- 51
- Location
- New York, NY
- Founding
- 06/1995
- Data as of
- 12/2023
- EIN
- 51-0292269
Organization Overview
New Water Street Corporation is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, New Water Street Corporation employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2023, New Water Street Corporation generated $184.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $124.6m during the year ending 12/2023. While expenses have increased by 2.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OWNS AND LEASES AN OFFICE BUILDING. THE NET PROFITS ARE DISTRIBUTED FOR THE BENEFIT OF A QUALIFIED PENSION FUND FOR EMPLOYEES OF STATE OF ALABAMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AND LEASES AN OFFICE BUILDING. THE NET PROFITS ARE DISTRIBUTED FOR THE BENEFIT OF A QUALIFIED PENSION FUND OF THE STATE OF ALABAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Marc Green Director | Trustee | 5 | $0 |
Stephen Glennon Director | Trustee | 5 | $0 |
Bruce W Hodges Sr Director | Trustee | 5 | $0 |
Thomas Milne Director | Trustee | 5 | $0 |
George Philip Director | Trustee | 5 | $0 |
Dr David Bronner President & Chairman | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harvard Protection Services Llc It Security | 12/30/23 | $3,683,131 |
Msa Security Security Services | 12/30/23 | $276,259 |
Jaros Baum & Boles Consulting Llp Consulting Services | 12/30/23 | $414,683 |
Vanguard Construction & Development Construction Management | 12/30/23 | $1,010,869 |
Structural Preservation System Llc Structural Services | 12/30/23 | $251,202 |
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 | $182,243,880 |
| Investment income | $2,166,595 |
| 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 | $184,410,475 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,259,001 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,982,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,285,802 |
| Payroll taxes | $405,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $86,568 |
| Fees for services: Accounting | $303,515 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,546 |
| Advertising and promotion | $107,071 |
| Office expenses | $436,307 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,324,814 |
| Travel | $102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,378,471 |
| Insurance | $7,855,966 |
| All other expenses | $0 |
| Total functional expenses | $124,575,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,428,634 |
| Savings and temporary cash investments | $38,025,200 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,225,743 |
| 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 | $275,028,953 |
| Net Land, buildings, and equipment | $467,228,611 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $805,937,141 |
| Accounts payable and accrued expenses | $9,365,228 |
| Grants payable | $0 |
| Deferred revenue | $5,520,881 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $14,886,109 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $186 |
| Paid-in or capital surplus, or land, building, or equipment fund | $419,604,822 |
| Retained earnings, endowment, accumulated income, or other funds | $371,446,024 |
| Total liabilities and net assets/fund balances | $805,937,141 |