Nonprofit · EIN 27-2683349
GOVERNORS ISLAND CORPORATION
Also known as GOVERNORS ISLAND TRUST
Tax-exempt · NEW YORK, NY 10004
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $65,325,995 | $56,314,805 | $9,011,190 | $401,467,685 | $59,728,016 | $341,739,669 |
| June 30, 2024 | 990 | $66,092,062 | $57,496,596 | $8,595,466 | $385,935,347 | $53,263,163 | $332,672,184 |
| June 30, 2023 | 990 | $65,206,529 | $54,135,369 | $11,071,160 | $379,526,191 | $55,604,329 | $323,921,862 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $55,283,313
- of which government grants
- $50,834,780
- Program service revenue
- $9,631,230
- Investment income
- $341,311
- Net gain from sales of assets
- -$14,463
- Net income from sales of inventory
- $3,149
- Other revenue
- $70,141
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,347,960
- Other salaries and wages
- $5,781,067
- Salaries, compensation and benefits (total)
- $10,045,203
- Professional fundraising fees
- $0
- Legal fees
- $561,580
- Occupancy
- $1,562,770
- Travel
- $144,446
- Depreciation
- $25,112,083
- Program services (functional)
- $48,299,448
- Management and general (functional)
- $7,947,834
- Fundraising (functional)
- $67,523
Balance sheet and other
- Total assets, start of year
- $385,935,347
- Total assets, end of year
- $401,467,685
- Total liabilities, end of year
- $59,728,016
- Net assets, end of year
- $341,739,669
- Land, buildings and equipment
- $324,961,357
- Publicly traded securities
- $8,903,739
- Gross receipts
- $65,341,356
- Employees
- 95
- Volunteers
- 16
- Year formed
- 2010
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CLARE NEWMAN | PRESIDENT/CEO Officer | 35 | $248,023 | $96,645 |
| CHRISTOPHER TEPPER | CHIEF DEVELOPMENT OFFICER (OUTGOING) Officer | 35 | $226,024 | $73,235 |
| DANIEL HANTMAN | GENERAL COUNSEL Officer | 35 | $204,777 | $75,245 |
| SARAH KRAUTHEIM | VP, PUBLIC AFFAIRS Highest-paid employee | 35 | $187,099 | $46,166 |
| WILLA PADGETT | CFO Officer | 35 | $201,656 | $31,553 |
| ALEXANDER BRADY | CHIEF REAL ESTATE OFFICER Officer | 35 | $161,730 | $49,721 |
| ANDRE BELL | SENIOR DIRECTOR, FACILITIES Highest-paid employee | 35 | $147,114 | $61,070 |
| ROGER KENNEDY | CHIEF ENGINEER Highest-paid employee | 35 | $196,186 | $0 |
| WILLIAM JOHNSON | SENIOR DIRECTOR Highest-paid employee | 35 | $162,796 | $22,624 |
| JENNIFER RENTAS | COO Officer | 35 | $144,502 | $16,797 |
| ANDRE SHKOZA | ASST. CHIEF ENGINEER Highest-paid employee | 35 | $157,246 | $0 |
| ALICE BLANK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALICIA GLEN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BENJAMIN LAWSKY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CARL WEISBROD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
15 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CAROLEE FINK | BOARD MEMBER Trustee or director | 1 | $0 |
| CHRISTIAN BRANEON | BOARD MEMBER Trustee or director | 1 | $0 |
| DANIEL NEIDICH | BOARD MEMBER Trustee or director | 1 | $0 |
| DANIEL SQUADRON | BOARD MEMBER (OUTGOING) Trustee or director | 1 | $0 |
| EB KELLY | BOARD MEMBER Trustee or director | 1 | $0 |
| GAURAV KAPADIA | BOARD MEMBER Trustee or director | 1 | $0 |
| JAMES KELLY MCGOWAN | BOARD MEMBER (OUTGOING) Trustee or director | 1 | $0 |
| KAREN HOPKINS | BOARD MEMBER (OUTGOING) Trustee or director | 1 | $0 |
| MARC NORMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| MICHAEL OPPENHEIMER | BOARD MEMBER Trustee or director | 1 | $0 |
| RICHARD CORMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SUSAN MERCANDETTI | BOARD MEMBER Trustee or director | 1 | $0 |
| TIM CAWLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| TOKUMBO SHOBOWALE | BOARD MEMBER Trustee or director | 1 | $0 |
| WENDY BRAWER | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 29 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CLARE NEWMAN | PRESIDENT/CEO Officer | 35 | $249,360 | $84,106 |
| CHRISTOPHER TEPPER | CHIEF DEVELOPMENT OFFICER Officer | 35 | $227,048 | $63,483 |
| DANIEL HANTMAN | GENERAL COUSEL Officer | 35 | $198,402 | $47,082 |
| JENNY STALEY | VP OPERATIONS (OUTGOING) Highest-paid employee | 35 | $166,430 | $74,974 |
| WILLA PADGETT | CFO Officer | 35 | $201,135 | $28,589 |
| SARAH KRAUTHEIM | VP, PUBLIC AFFAIRS Highest-paid employee | 35 | $169,819 | $40,406 |
| ALEXANDER BRADY | DIRECTOR, REAL ESTATE Highest-paid employee | 35 | $160,430 | $36,456 |
| WILLIAM JOHNSON | SENIOR DIRECTOR Highest-paid employee | 35 | $162,433 | $26,303 |
| ROGER KENNEDY | CHIEF ENGINEER Highest-paid employee | 35 | $186,673 | $89 |
| ALICE BLANK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALICIA GLEN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BENJAMIN LAWSKY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CARL WEISBROD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CAROLEE FINK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHRISTIAN BRANEON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DANIEL NEIDICH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DANIEL SQUADRON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GAURAV KAPADIA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JAMES KELLY MCGOWAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KAREN HOPKINS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARC NORMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MATTHEW WASHINGTON | BOARD MEMBER (OUTGOING) Trustee or director | 1 | $0 | $0 |
| MICHAEL OPPENHEIMER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICK KENNELL | BOARD MEMBER (OUTGOING) Trustee or director | 1 | $0 | $0 |
| SUSAN MERCANDETTI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TIM CAWLEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TOKUMBO SHOBOWALE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WENDY BRAWER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JENNIFER RENTAS | COO (STARTED 2024) Officer | 35 | $0 | $0 |
990 for the year ended June 30, 2023: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CLARE NEWMAN | PRESIDENT/CEO Officer | 35 | $248,738 | $79,544 |
| CHRISTOPHER TEPPER | CHIEF DEVELOPMENT OFFICER Officer | 35 | $213,856 | $44,636 |
| JENNY STALEY | VP OPERATIONS Highest-paid employee | 35 | $158,431 | $65,740 |
| WILLA PADGETT | CFO Officer | 35 | $187,158 | $28,590 |
| SARAH KRAUTHEIM | VP, PUBLIC AFFAIRS Highest-paid employee | 35 | $160,085 | $38,938 |
| ALEXANDER BRADY | DIRECTOR, REAL ESTATE Highest-paid employee | 35 | $154,202 | $34,988 |
| WILLIAM JOHNSON | SENIOR DIRECTOR Highest-paid employee | 35 | $155,239 | $26,259 |
| ROGER KENNEDY | CHIEF ENGINEER Highest-paid employee | 35 | $175,643 | $0 |
| DANIEL HANTMAN | GENERAL COUSEL Officer | 35 | $128,005 | $31,946 |
| ALICE BLANK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALICIA GLEN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BENJAMIN LAWSKY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CARL WEISBROD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CAROLEE FINK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHRISTIAN BRANEON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DANIEL NEIDICH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DANIEL SQUADRON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GAURAV KAPADIA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GRACE LEE | BOARD MEMBER (OUTGOING) Trustee or director | 1 | $0 | $0 |
| KAREN HOPKINS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MATTHEW WASHINGTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MICHAEL OPPENHEIMER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICK KENNELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SUSAN MERCANDETTI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TIM CAWLEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TOKUMBO SHOBOWALE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WENDY BRAWER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 10 SOUTH STREET SLIP 7, NEW YORK, NY 10004-1921
- In care of
- % PAUL KELLY
- Principal officer (990 for 2024)
- CLARE NEWMAN, 10 SOUTH STREET SLIP 7, NEW YORK, NY 10004
- Signed the 990
- CLARE NEWMAN, PRESIDENT
- Phone
- (212) 440-2200
- Website
- WWW.GOVISLAND.ORG
- Return prepared by
- CBIZ ADVISORS LLC
Mission
THE GOVERNORS ISLAND CORPORATION, DOING BUSINESS AS THE TRUST FOR GOVERNORS ISLAND, IS THE 501(C)(3) NOT-FOR-PROFIT ORGANIZATION CREATED BY THE CITY OF NEW YORK AND CHARGED WITH THE PLANNING, REDEVELOPMENT AND ONGOING OPERATIONS OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO REALIZE THE FULL POTENTIAL OF GOVERNORS ISLAND FOR THE INSPIRATION AND ENJOYMENT OF ALL NEW YORKERS, DEMONSTRATING A BOLD VISION FOR PUBLIC SPACE.
Program accomplishments
- THE TRUST IS RESPONSIBLE FOR THE OPERATION, PLANNING AND REDEVELOPMENT OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST PROVIDES FERRY, SECURITY AND MAINTENANCE SERVICES FOR THE ISLAND, ITS VISITORS AND TENANTS, AS WELL AS THE URBAN ASSEMBLY HARBOR SCHOOL LOCATED ON THE ISLAND. SINCE 2024, GOVERNORS ISLAND HAS BEEN OPEN TO THE PUBLIC YEAR ROUND, AND EVERY SEASON VISITORS MAY EXPERIENCE AN ARRAY OF ARTS, CULTURAL AND RECREATIONAL PROGRAMS, AS WELL AS FOOD AND BEVERAGES ON OFFER FROM ISLAND VENDORS. THROUGH AN INITIAL CAPITAL IMPROVEMENT PROGRAM, THE TRUST BUILT 30 ACRES OF NEW PARK SPACE, WHICH OPENED IN 2014, FOLLOWED BY AN EXPANSION IN 2016, WHEN THE HILLS OPENED. ADDITIONAL CAPITAL INVESTMENT, COMPLETED AND ONGOING, INCLUDES WORK ON THE FERRY INFRASTRUCTURE (DOCKS AND VESSELS), SEAWALL, ELECTRICAL SYSTEM, POTABLE WATER AND OTHER UTILITY SYSTEMS, AS WELL AS NUMEROUS HISTORIC BUILDING STABILIZATION AND RENOVATION PROJECTS.Expenses $48,299,448 · revenue $9,686,908
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 27-2683349
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Animal-related (D30)
- Assets (IRS master file)
- $401,467,685
- Income (IRS master file)
- $65,341,356
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $65,325,995 | $56,314,805 | $401,467,685 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $66,092,062 | $57,496,596 | $385,935,347 | XML |
| 990 | June 2023 | $65,206,529 | $54,135,369 | $379,526,191 | XML |
| 990 | June 2022 | $44,688,095 | $46,497,602 | $359,077,969 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-2683349).
Questions about GOVERNORS ISLAND CORPORATION
- What is the EIN of GOVERNORS ISLAND CORPORATION?
- The employer identification number (EIN) of GOVERNORS ISLAND CORPORATION is 27-2683349.
- Is GOVERNORS ISLAND CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to GOVERNORS ISLAND CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GOVERNORS ISLAND CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GOVERNORS ISLAND CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GOVERNORS ISLAND CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of GOVERNORS ISLAND CORPORATION?
- The 990 for the year ended June 30, 2025 names CLARE NEWMAN.
- Who are the officers and directors of GOVERNORS ISLAND CORPORATION?
- The 990 for the year ended June 30, 2025 lists 30 people; 11 received compensation from the organization, the highest $248,023 (CLARE NEWMAN, PRESIDENT/CEO).
- How much revenue does GOVERNORS ISLAND CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $65,325,995, expenses of $56,314,805 and total assets of $401,467,685 at year end.
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