Overview
What is Governors Island Corporation?
The Governors Island Corporation, operating as The Trust for Governors Island, is a New York City-based nonprofit organization dedicated to the planning, redevelopment, and ongoing operations of 150 acres of Governors Island. With a mission to transform the island into an engaging year-round destination, the Trust provides ferry, security, and maintenance services, as well as operating educational and commercial facilities. The Trust has accomplished significant development since FY 2012, including creating 30 acres of new park space and opening the Hills in 2014 and 2016. Ongoing capital investments have focused on infrastructure improvements and historic building stabilization projects. The Trust's future plans include the creation of a Center for Climate Research, a public-private partnership.
Official website here: www.govisland.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating
Governors Island Corporation has demonstrated a strong commitment to accountability and financial transparency, as evidenced by its impressive 96% score in this area. The charity's overall rating reflects its adherence to best practices, including having a fully independent board and effective audit and oversight measures. This governance structure enhances its credibility and assures stakeholders of responsible management.
The organization excels in financial metrics, boasting a program expense ratio of 86%, indicating that a significant portion of its funds is dedicated to its mission-driven activities rather than administrative costs. Additionally, it maintains a low liabilities to assets ratio, which further speaks to its financial health and sustainability.
While the data highlights numerous strengths, it does not provide insights into the impact or effectiveness of its programs. Future feedback could benefit from assessing the tangible outcomes of its initiatives to provide a more comprehensive view of the organization's overall performance.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Governors Island Corporation?
90% of 302 reviewers on Facebook recommend Governors Island Corporation. Here’s a summary of their insights:
Many individuals express their fondness for Governors Island, highlighting its rich historical significance and unique charm. Reviewers appreciate the various activities and serene environment the island offers, suggesting that it serves as a delightful getaway for residents and visitors alike.
Overall, there is a strong sentiment of satisfaction among supporters, with a noticeable affection for the island itself and the experiences available there. This positive feedback indicates that the nonprofit is effectively fostering a community interest in preserving the island's heritage.
This AI summary has been generated from reviews found on Facebook.
Is Governors Island Corporation legitimate?
Governors Island Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Governors Island Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $970,677
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,162,944
For more financial information, click here
Official website here: www.govisland.org
What is the mission statement of Governors Island Corporation?
The Governors Island Corporation, operating as The Trust for Governors Island, is a New York City-designated nonprofit organization responsible for the planning, redevelopment, and ongoing operations of a 150-acre island. Its mission is to transform Governors Island into a year-round destination for New York City, offering extraordinary public open space, a diverse range of cultural and recreational activities, and permanent educational, not-for-profit, and commercial facilities. The Trust aims to make the island a vibrant resource for the city, attracting visitors with its unique attractions and contributing to the community's overall cultural and economic growth.
Official website here: www.govisland.org
Who is the CEO of Governors Island Corporation?
Clare Newman is the Board Member of Governors Island Corporation. The CEO's salary of Governors Island Corporation is $229,768 and their total compensation is $294,528.
Official website here: www.govisland.org
What is the revenue of Governors Island Corporation?
Governors Island Corporation's revenue in 2022 was $44,688,095.
Official website here: www.govisland.org
Who are the executives of Governors Island Corporation and what are their salaries?
The average compensation at Governors Island Corporation during 2022 was $64,983. There are 79 employees and 15 volunteers at Governors Island Corporation.
Here are 24 key members and their salaries (Governors Island Corporation's CEO's salary is $229,768 and their total compensation is $294,528):
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- Compensation: $229,768
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- Other: $64,760
- Compensation: $171,229
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- Compensation: $172,786
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- Other: $25,592
- Compensation: $149,094
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- Compensation: $147,546
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- Other: $34,619
- Compensation: $144,707
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- Other: $21,180
Official website here: www.govisland.org
Where can I find the form 990 for Governors Island Corporation?
Governors Island Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.govisland.org
Learn more at the official website: www.govisland.org
Mission Statement of Governors Island Corporation
The Governors Island Corporation, headquartered as a not-for-profit entity, is on a mission to transform Governors Island into an engaging year-round resource for New York City. This vibrant transformation aims to make the island a must-visit destination, complete with extraordinary public open spaces, a diverse range of cultural and recreational activities, and permanent educational, not-for-profit, and commercial facilities.
Capitalizing on the city's potential, the Trust for Governors Island, as the Governors Island Corporation is also known, is dedicated to planning, redeveloping, and operating the 150-acre island. By doing so, it intends to provide New Yorkers and visitors with unique experiences and opportunities that enrich their lives and promote community engagement. The Trust's commitment to the city extends beyond temporary initiatives, as it plans to establish permanent structures that cater to various interests and needs.
In essence, the Governors Island Corporation envisions the island as a dynamic platform for exploration and innovation, where residents and tourists alike can connect with the city in new and meaningful ways. With a focus on public spaces, cultural activities, and educational opportunities, the Trust is working to create an island experience that stands out as a distinctive feature of New York City.
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Impact
October, 2024
Governors Island Corporation (also known as The Trust for Governors Island) plays a crucial role in transforming Governors Island into a vibrant hub for New York City. Overseeing the planning, redevelopment, and ongoing operations of 150 acres, the organization has significantly enhanced the island's accessibility and functionality.
Since opening to the public year-round, Governors Island offers a diverse range of arts, cultural, and recreational programs. Visitors can enjoy expansive public open spaces, food and beverage offerings from local vendors, and seasonal activities that cater to a wide audience. The Trust has spearheaded substantial capital improvement projects, including the creation of 30 acres of new park space and the development of The Hills, which provide stunning views and unique recreational opportunities.
In addition to enhancing public spaces, the organization is responsible for essential services, such as ferry transportation, security, and maintenance, ensuring a seamless experience for visitors and island tenants. Ongoing infrastructure improvements address various utility systems, while historic building stabilization projects preserve the island's heritage.
Looking ahead, the Trust is set to embark on an important phase with the establishment of a Center for Climate Research, further solidifying the island's role as a center for education and innovation. This multifaceted development aims to foster collaboration among academic and research partners, contributing to the island's mission of becoming a year-round destination that benefits both New Yorkers and visitors alike.
This information is meant to be a general summary of Governors Island Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $72,486
- Program Service Revenue: $6,869,235
- Gross Receipts: $44,688,095
Assets and Liabilities:
- Total Assets: $359,077,969
- Total Liabilities: $46,176,739
- Net Assets: $312,901,230
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PERMITS AND OTHER FEES
Revenue
$3,869,892
LEASES
Revenue
$1,985,715
RENTAL INCOME
Revenue
$1,013,628
Organization Details
Founding Year
2010
Phone
(212) 440-2200Principal Officer
Clare Newman
Main Address
10 SOUTH STREET SLIP 7, NEW YORK, NY, 10004
Website
www.govisland.orgNTEE Category
Code: D30 - Animals
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