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2008 - Central Park Conservancy

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2008 - Central Park Conservancy Powered By Docstoc
					Central Park Conservancy
           Annual Report 2008
(front cover)
The newly restored urns on Bow Bridge (see pages 14 and 15).

(back cover)
The staff of the Central Park Conservancy and the New York City Department of Parks & Recreation, and trustees of the Central Park Conservancy.

(opposite page)
To celebrate the 150th anniversary of Frederick Law Olmsted and Calvert Vaux’s Greensward plan — the winning entry in the 1858
design competition for Central Park — the Conservancy and New York City Department of Parks & Recreation launched AeroBalloon,™
a helium-filled balloon that gave Park visitors the chance to float thirty stories above Central Park! The balloon, anchored at Cherry Hill
plaza (inside the Park at West 72nd Street), operated from July 25th to August 22nd and provided the public with a unique view of the
Conservancy’s recent Lake restorations and the magnificent New York City skyline.

Produced entirely by the staff of the Central Park Conservancy.
Design by Sara Cedar Miller and Jonathan Taub.
All photos by Sara Cedar Miller except the following:
Page 3, Melinda Bush; page 5, Greensward Plan courtesy NYC Department of Parks & Recreation Photo Archive,
Image ID #61962; page 22 (top), Ed Bobrow; page 25 #11, Curtis Dann-Messier; inside back cover (tour photo),
Scott Johnson; back cover, Malcolm Pinckney.

Printed on recycled paper.
4                                                                                                                                                                                                                                              5




    Partnership - Central Park Conservancy                                                             Partnership - City of New York
    The historic partnership of Frederick Law Olmsted and Calvert Vaux resulted in one of the          This year, we celebrate the 150th anniversary of the Greensward plan for the design of Central
    first and finest works of public art in America — Central Park. This year we commemorated          Park. Created by Frederick Law Olmsted and Calvert Vaux at a time when Manhattan was
    the 150th anniversary of Greensward, Olmsted and Vaux’s winning entry in the 1858 design           still undeveloped, it is one of history’s greatest examples of foresight and planning — because
    competition for Central Park, by renaming the 72nd Street Cross Drive “Olmsted & Vaux Way” in      today the Park serves as a vibrant, natural oasis at the very heart of our towering City. As we
    honor of their aesthetic and democratic vision for New York’s future public park.                  mark this milestone, it’s fitting that we recommit ourselves to the principles that led to the
                                                                                                       creation of our modern Central Park: a forward-thinking respect for the importance of green
    Today, the Park is again graced with another historic partnership, that of the Central             space; and the courage to pursue bold, new ideas. In fact, that’s what PlaNYC is all about, and
    Park Conservancy and the City of New York. Under this groundbreaking public-private                the Central Park Conservancy is one of our most important partners in making it a reality.
    partnership, Olmsted and Vaux’s masterpiece is not only beautifully restored by the
    Conservancy but also receives new life and new energy through the Conservancy’s innovative         Since its founding, the Conservancy has established itself as the true heir to the vision of
    management practices and creative public programs.                                                 Olmsted and Vaux, the pioneers of landscape architecture and park management. The
                                                                                                       Conservancy is making vital contributions far beyond its namesake park, providing landscape
    The Conservancy has flourished and grown under the leadership of Board Chairman Ian Smith          maintenance to the four Historic Harlem Parks. This year the Conservancy launched the
    (1999-2007), who stepped down after serving for eight years. In 2005, Ian spearheaded the          Urban Horticulture and Ecology Certificate Training Program with Cornell University. Its first
    Campaign for Central Park, which has met its goal of raising $120 million, to complete the         graduating class consisted of 35 Conservancy staff and volunteers as well as Parks gardeners
    restoration of Central Park, protect the investment, and sustain the results. The Park has         from all five boroughs, equipping them with the latest horticultural knowledge and techniques.
    historically been susceptible to shifts in political environments and fluctuations in the City’s
    economy. Securing the Park’s future has also been Ian’s focus because the ultimate measure         This report further highlights the Central Park Conservancy’s leadership in our mission to
    of the Conservancy’s success will be our ability to sustain what we have accomplished, never       build a greener, greater New York. We look forward to continuing our work with them as we
    letting the Park fall back to the deplorable condition it was in before the Conservancy was        take on the even bigger challenges of expanding our parks system and realizing our goal of
    founded in 1980.                                                                                   putting every New Yorker within a ten-minute walk of a public park — a place to play, exercise,
                                                                                                       relax, and get some fresh air. With the Conservancy’s dedicated hard work and your support, I
    Through the generosity of our donors and trustees, this has been an enormously successful          know that we can do it.
    year for the support of the Conservancy’s mission. Both general membership and Chairman’s
    Circle revenue, from new contributors and increased renewals, have prospered greatly, as
    have corporate, planned, and foundation giving. Our evening fundraising events — Taste of
    Summer and Halloween Ball — were great fun and were also highly effective in generating
    revenue. The Women’s Committee had an extraordinary year. The 26th annual Frederick Law            Michael R. Bloomberg                                       Adrian Benepe
    Olmsted Luncheon alone raised $2.4 million, and the Committee’s other popular projects —           Mayor of the City of New York                              Commissioner, NYC Department of Parks & Recreation
    bench, tree, playground, and perimeter programs — also flourished. We are grateful to all of
    those who supported the Conservancy this year, as well as in the past.

    This report highlights the completion of the Conservancy’s many new capital projects in the
    Park and the innovative operational and educational programs that we have initiated in the
    past year. As we move forward from the first century and a half of Central Park’s history,
    the Conservancy is committed to continue our standards of excellence for the restoration,
    management, and preservation of Olmsted and Vaux’s masterpiece, and to see to it that it
    endures as a vital resource that elevates the quality of life, so that New Yorkers today and the
    tomorrows to come will have Central Park as a central joy in their lives.




    Thomas L. Kempner, Jr.                                Douglas Blonsky
    Chairman of the Central Park Conservancy              President of the Central Park Conservancy    In 1858 Frederick Law Olmsted and Calvert Vaux won the design competition for Central Park. They named their plan (above)
                                                                                                       “Greensward,” from the English term for “unbroken stretches of turf or lawn,” the main feature in the designers’ vision for the Park.
                                                           and Central Park Administrator
                                                                                                                              7



Craftsmanship
The Campaign for Central Park
We are proud to report that in only three short years the Campaign for Central Park has reached its financial
goal of $120 million, divided between two objectives: to complete the restoration of the Park, and to secure
the future of those restored landscapes and structures with the necessary funding for their continuous
maintenance by a trained and dedicated Conservancy staff.


We are also pleased to report that, coinciding with the 150th anniversary of Olmsted and Vaux’s 1858
winning design for the Park, many of the Campaign projects along the Lake were accomplished this year
(described in the following pages).


Lake shoreline projects remaining in 2008 are either in design or in construction. Donald Pels and Wendy Keys
have provided support for the area from Bow Bridge to Willow Cove; and Mr. and Mrs. Wynant Vanderpoel III
have provided support for The Point. In addition to these gifts, the Bobolink Foundation has funded a woodlands
crew to care for this ecologically sensitive area.


Another major project of the Campaign is the restoration of the east side landscapes from the Metropolitan
Museum of Art to the Harlem Meer. The first phase, the area south of the Mount and Conservatory
Garden, nears completion this year. This phase was made possible thanks to the generosity of Susan and
Jack Rudin, Fiona and Eric Rudin, and the Rudin Foundation. Restoration of the East Meadow and
the creation of the Arboretum Walk is being made possible with funding from the Polo Ralph Lauren
Foundation; LuEsther T. Mertz Charitable Trust; Thomas L. Kempner, Jr. and Katheryn C. Patterson;
Nina Rosenwald, Elizabeth and Michael Varet, and Alice Rosenwald; and many area residents.


The restoration of Ancient Playground, at Fifth Avenue and 85th Street, is supported by Carol and David Feinberg and
New York City Council funds allocated by former Council Member Eva Moskowitz. The first phase of the restoration,
the comfort station and the entrance plaza, was completed this year. The playground’s sculptural masterpiece, the
William Church Osborn Gates, by American artist Paul Manship, have been conserved and will be reinstalled with a gift
from the Daniel P. and Nancy C. Paduano Foundation.


On the west side of the Park, restoration and endowment of the West 100th Street Playground and its surrounding
landscapes is being made possible by support from former New York City Council Member Philip Reed through
Council funds from his West Side district and with a gift from Patsy and Jeff Tarr. The West 69th Street entrance
landscape will soon be restored, thanks to the support of Anita and Robert Jacobson.



The Conservancy has created a temporary plant compound in the south end of the Park to accommodate the many varieties of
plant material installed in conjunction with capital projects (left). This year 137 trees, 8,348 shrubs, 46,902 perennials,
and 35,665 pieces of groundcover were planted in the Park.
8                                                                                                                                                                                                                                                                                                                                                            9



                                                                                                                                                                                                           Central Park Capital Work – 1980-2008




                                                                    W 65 St




                                                                                             W 72 St




                                                                                                                                                                       W 81 St




                                                                                                                                                                                                 W 86 St




                                                                                                                                                                                                                                                              W 97 St
                                                                                                                                                                                                             Central Park West

                                                                                                                                                                                                                                                                         W. 100th St.
                                                                                                                                                                                                                                                                        Playground &
                                                                                                                                                                                                                                                                         Landscape


                                                                                                                                                                                                                                                                                                           Pool
                                                                                                                                           Oak
                                                                                                                                          Bridge Bank Rock
                                                                                                                        Lake                        Bay

                                             Heckscher
                                             Ballfields                                                                Ramble Shoreline
                                                                                                                         & The Island
                                                                                                               Bow
    Central Park South




                                                                                                                                                                                                                                                                                                                                                Central Park North
                                                                                                              Bridge
                                Heckscher
                                Playground
                                  Building



                                                                                                 Bethesda
                                                                                                Landscape
                                                                                                & Shoreline
                                                                                                                         The Point
                                                                                                                                                                                                                 Reservoir

                                                                              Landscape
                                                                              East of Mall




                         Pond                                                                                                                                                                                                                                                                                               The Fort
                                                                                                                                                                                                                                                                                                                           Landscape

                                                                                                                                                                                                                                                                                                                                       Harlem
                                                                                                                                                                                                                                          E. 96th St. Playground                   East Meadow & The Arboretum Landscape                Meer
                                                                                                                                                                                                                                               & Landscape
                                                                                                                                                                                   Ancient                     Reservoir East Landscape
                                                                                                                                                                                 Playground

                                                                                                                                                                                                               Fifth Avenue
                                                          E 65 St




                                                                                             E 72 St




                                                                                                                                                             E 79 St




                                                                                                                                                                                       E 85 St




                                                                                                                                                                                                                                                             E 97 St
                   CAMPAIGN PROGRESS - FISCAL YEAR 2008
                                      RESTORED                                                                                                                                                               Restored Prior to 2008
                                      LONG TERM MANAGEMENT/ REPLACEMENT IN KIND
                                                                                                                                                                                                             Long-Term Management/Replacement-in-Kind
                                      COMPLETED IN FYO8
                                                                                                                                                                                                             Completed in FY08
                                      IN CONSTRUCTION FY08
                                                                                                                                                                                                             In Construction FY08
                                      IN PLANNING AND DESIGN FY08
                                                                                                                                                                                                             In Planning and Design FY08
                                                                                                                     11



Craftsmanship
The Lake: Bank Rock Bay, the Island, and the Cave
This year the Conservancy is proud to have completed several complex restoration projects at the Lake:
Bank Rock Bay (bottom), the Island (left), and the Cave. The reclamation of the silted coves at Bank Rock
Bay, the Cave, and the mouth of the Gill — the man-made stream that bisects the Ramble — included
sediment removal, shoreline reconstruction, and the reintroduction of important views that had been lost
for half a century. The crumbling infrastructure was replaced with comprehensive storm drainage and
irrigation systems. Thousands of new plantings, such as spicebush and Virginia rose, provide ecological
health and a proper habitat for the many birds that visit Central Park each year. The plantings also provide
enjoyment for the thousands of birders from around the world who visit Central Park to marvel at the 240
species of birds that flock to the Park during spring and fall migration.


In addition to the Conservancy friends listed below, the Lake project is supported by the New York City Department
of Parks & Recreation. The restoration of Bank Rock Bay and replacement of its existing footbridge with a
reproduction of the original, commonly known as Oak Bridge, to be completed in the coming months, has been
funded by: Elizabeth H. Atwood; Butler Conservation Fund; Richard Gilder and Lois Chiles; Mary Jane Harris;
and Robert Wilson. Leni and Peter May funded the reconstruction and planting of the Lake’s island.
                                                                                                                   13



Craftsmanship
The Lake Shoreline
The Lake shoreline from the Gill to Bow Bridge (opposite top) has been restored with a gift from Sarah Peter.
On the south side of the Lake, restoration of the shoreline landscape and pathway from the Loeb Boathouse
to Bethesda Terrace (bottom left) has been funded by Angela and Wade Thompson. The landscape from
Bethesda Terrace to Bow Bridge (bottom right) has been restored with a gift from Charles Bronfman in
memory of his wife, Andrea (Andy) Bronfman.


Bethesda Plantings
A new irrigation system and plantings have been installed at Bethesda Terrace, thanks to support from the family
of the late Bradley Collins. Merle and Barry Ginsburg also provided funding for enhanced plantings and ongoing
care in the area.


East Mall Pathway
In addition to the Lake projects, the East Mall pathway (opposite bottom), one of the most well-used walkways
in the Park, was restored, with funding provided by Oscar and Didi Schafer.
                                                                                                                         15



Craftsmanship
Bow Bridge Urns
In the Park’s first photographic book, The Central Park, written in 1864, author Fred B. Perkins describes the urns,
or flower vases, on the Park’s first cast-iron bridge as “…a singularly elegant finish is added [to the bridge] by the
four great shapely vases upon the parapet at either end, crowned with luxuriant wreath-growths of flowers and
vines….It should be called the Flower Bridge.” Calvert Vaux and Jacob Wrey Mould, who designed the bridge,
instead named the Park’s most iconic landmark Bow Bridge, for its graceful shape, which resembles either the
bow of an archer or violinist.


Sadly, by the early 1920s the urns had disappeared. The Board of Directors of the Women’s Committee
of the Central Park Conservancy took up the challenge to restore the eight urns to their rightful place of
honor. With funding efforts spearheaded by former President Nancy Paduano, Vice President Liz Peek, and
with leadership gifts from Women’s Committee Board members Sheila Labrecque and Margaret Smith,
along with her husband, Ian, the urns were re-created and installed by the Conservancy’s expert historic
preservation and conservation staff. The bridge was also repainted.
                                                                                                            17



Craftsmanship
The Dene Summer House
The landscape along the east perimeter of the Park from 66th to 72nd Streets is known as the Dene. The
19th-century Park featured several picturesque rustic summer houses, such as the one overlooking Fifth
Avenue at 67th Street in the Dene. Frequently positioned on the crest of a high rock outcrop, visitors
receive cooling morning breezes in summer and welcome shelter in a sudden rain storm or shade in
the heat of afternoon. Park visitors today continue to enjoy the Dene’s charming rustic structure (left).
The Conservancy’s talented historic preservation and conservation crew rebuilt the summer house.
Improvements to the landscape surrounding the structure were also made. Additional enhancements to the
landscape will continue north to the East 69th Street entrance. The restoration of the Dene Summer House
and East 69th Street entrance landscapes was made possible through leadership gifts from an anonymous
donor in honor of the National Foundation for Advancement in the Arts and youngARTS, the Garden
Club of America, and David and Evi Batten.


The Heckscher Building
In its goal to provide Central Park’s children and their caregivers with an attractive, safe, and well-
maintained playground, such as Heckscher Playground, at the southwest end of the Park, the Conservancy
has also completed the restoration and expansion of the Heckscher Building at the playground (below).
Some of the features of the project were re-establishing the breezeway through the building as the main
playground entrance and construction of modern restroom facilities. The building restoration was made
possible with support provided by Patti and Ray Chambers and Barry Diller and Diane von Furstenberg.
                                                                                                                     19



Stewardship
Operations

Endowing a Zone
In its 150-year history, Central Park has never been better managed than it is today, as a result of the
Conservancy’s crucial and innovative commitment to stewardship, which ensures both the present and future
health and vitality of the Park’s restored landscapes. To that goal, this has been one of the most exciting years,
thanks to three generous endowments for the perpetual maintenance of three Park zones: the Dene landscape,
from East 66th to East 72nd Streets, funded by Mr. and Mrs. Jonathan Rosen; Conservatory Water area, from
East 72nd to East 76th Streets, funded by Mr. and Mrs. Oliver K. Stanton; and the North Woods/Blockhouse
area, north of West 108th Street, funded by Judith-Ann Corrente and William Kooyker.


Conservancy zone gardeners and their staff perform various maintenance and horticultural duties within
their areas on a daily or seasonal basis. In the Dene, for example, one of Angel Corbett’s responsibilities
is cleaning the sand daily in the Billy Johnson Playground (left). At Conservatory Water, John Hiser does
routine pruning of the flower bed at Kerbs Boathouse (below left). Yarw Peprah cares for the landscape in
front of the Blockhouse (below right).
                                                                                                                       21



Stewardship
Operations

Global Positioning System
The Conservancy has begun the first phase of a comprehensive Parkwide tree survey, which utilizes the Global
Positioning System. Arborists recorded information about the Park’s more than 24,000 trees over six inches in
diameter. The system allows Conservancy staff, such as Director of Horticulture Russell Fredericks (below) to
better record, track, maintain, and plan for the Park’s most important horticultural collection, which includes the
groves of magnificent flowering cherry trees that bring joy to Park visitors in all four seasons (left).


Environmental Stewardship
The Conservancy’s Environmental Stewardship Committee expanded our recycling program on our ballfields,
which began last year at the Great Lawn, to include the North Meadow and Heckscher ballfields. An anonymous
donor is funding our recycling program. The familiar and pleasurable sound of autumn leaves being raked has
replaced the noise of hand-held leaf blowers in the Park, not only to offer peace and quiet to visitors, but also to
reduce fuel emissions in the Park. Our environmental stewardship also includes use of organic products on the
majority of Central Park’s lawns.


Comfort Stations
The Conservancy is concerned with providing the highest quality for every aspect of a visit to Central Park.
This year, through an endowment fund for repairs, improvement, and ongoing care of Park comfort stations
provided by the generosity of Irwin and Roberta Schneiderman, interior and exterior repairs of many of the
Park’s comfort stations have greatly improved these important facilities; in addition, hand dryers as well as artwork
have been installed in 13 comfort stations. The endowment also provides for seasonal facility maintenance
workers during peak hours at four of the Park’s most used comfort stations: Charles A. Dana Discovery Center,
Conservatory Garden, Bethesda Terrace, and Mineral Springs.
                                                                                                                      23



Stewardship
Education
This year the Conservancy launched its Urban Horticulture and Ecology Certificate Training Program
in partnership with the Cornell University Cooperative Extension of New York City. The certification
program graduated a class of 35 parks professionals (consisting of Conservancy staff and volunteers and
Department of Parks & Recreation staff from other parks throughout the boroughs), equipping them with
the latest horticultural knowledge and techniques. Classes included such diverse topics as Central Park
geology, composting, insects, plant diseases, turf management, Central Park ecosystems and wildlife, and
plant identification, such as the class on plant identification in Shakespeare Garden, taught by horticultural
expert Bill Berliner, the Conservancy’s Associate Vice President of Horticulture (bottom right). The
program was made possible, in part, through the generous support of JPMorgan Chase & Co.


In addition, the Conservancy provides many education programs for children and educators, as well as
youth development programs, which are generously supported, in part, by the Altman Foundation;
Time Warner Inc.; Youth Development Institute; William E. Weiss Foundation, Inc./Daryl Brown Uber;
New York Community Trust-Wallace Special Projects Fund; The Lucius N. Littauer Foundation Inc.;
Barker Welfare Foundation; The Pumpkin Foundation/Joe & Carol Reich; W.P. Carey Foundation Inc.;
the Samuel & Rae Eckman Charitable Foundation; Mae Goffe; Levin/Goffe Family Foundation of the
Jewish Communal Fund; Alan & Katherine Stroock Fund; and the Oceanic Heritage Foundation.


Public Programs
This year the Conservancy celebrated noteworthy anniversaries in two of our most popular public
programs. One was the 10th anniversary of the Conservancy’s free, year-round tour program, which are
led by trained volunteer guides who conduct tours about the history, design, and natural features of the
Park (bottom left). All volunteer programs are generously funded by Ernst & Young LLP.


Summer 2008 marked the 15th anniversary of the free Harlem Meer Performance Festival, highlighted by an
accompanying exhibit in the Charles A. Dana Discovery Center, Music on the Meer: Celebrating 15 Years of the Harlem
Meer Performance Festival. The Festival, funded by JPMorgan Chase & Co., runs annually from Memorial Day in
May through September on the plaza of the Dana Discovery Center, and features the best in local emerging
and established Latin, Jazz, World, and Gospel artists, such as the celebrated group Lynnard Williams and His
Gospel Troupe (top), and reaches over 14,000 Park visitors, who come from the local community as well as
other New Yorkers and tourists from around the world.
                                                                                                                   25



            Friendship
            Events & Programs
            1. Junior Advisory Committee’s Evening in the Garden    8. Tour Program 10th Anniversary
1       2
            2. Alex Ross Salon at the Home of                       9. Frederick Law Olmsted Luncheon, Co-Chairs
                Jonathan and Jeannette Rosen                       10. Bow Bridge Urns Dedication
            3. Halloween Ball                                      11. Central Park Scholars
            4. Playground Partners and Patrons Party               12. Daffodil Day Bulb Planting
            5. Tree Trust Breakfast                                13. Plaza Reception for Tom Kempner
            6. Greensward Anniversary Press Conference             14. Rackow Family Dedication
            7. Oscar and Didi Schafer Dedication                   15. Taste of Summer

3       4




    5                                                     10                                                            11




    6   7                                  12                                                                           13




8       9                                                 14                                                            15
26                                                                                                                                                                                                                     27




     Central Park Conservancy, Inc.                                                                                         Balance Sheets
     Financial Statements and Schedule                                                                                      June 30, 2008 and 2007
     June 30, 2008 and 2007                                                                                                 (Dollars in thousands)

     Independent Auditors’ Report

     The Board of Trustees
     Central Park Conservancy, Inc.:

     We have audited the accompanying balance sheets of Central Park Conservancy, Inc. (the Conservancy) as of                                                      Assets                     2008         2007
     June 30, 2008 and 2007, and the related statements of activities and cash flows for the years then ended. These        Cash                                                             $    2,497   $    1,760
     financial statements are the responsibility of the Conservancy’s management. Our responsibility is to express an       Short-term investments (note 3)                                      35,369       27,354
     opinion on these financial statements based on our audits.                                                             Accounts receivable (note 11)                                         7,153        6,214
                                                                                                                            Prepaid expenses and other assets                                       235          197
     We conducted our audits in accordance with auditing standards generally accepted in the United States of America.      Inventory                                                               126          115
     Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the            Contributions receivable, net (note 4)                               17,906       22,550
     financial statements are free of material misstatement. An audit includes consideration of internal control over       Other investments (note 3)                                          152,112      141,551
     financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for   Investments held under split-interest agreements                        639          557
     the purpose of expressing an opinion on the effectiveness of the Conservancy’s internal control over financial         457(b) deferred compensation plan (note 9)                              195           75
     reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence        Fixed assets, net (note 5)                                              698          638
     supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and                       Total assets                                     $ 216,930    $ 201,011
     significant estimates made by management, as well as evaluating the overall financial statement presentation.
     We believe that our audits provide a reasonable basis for our opinion.                                                                                Liabilities and Net Assets
                                                                                                                            Liabilities:
     In our opinion, the financial statements referred to above present fairly, in all material respects, the financial               Accounts payable and accrued expenses (note 10)        $    5,720   $    3,568
     position of Central Park Conservancy, Inc. as of June 30, 2008 and 2007, and the changes in its net assets and its               Deferred revenue                                               —           270
     cash flows for the years then ended in conformity with U.S. generally accepted accounting principles.                            Liabilities under split-interest agreements                   378          321
                                                                                                                                      457(b) deferred compensation plan liability (note 9)          195           75
     Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole.                             Total liabilities                                 6,293        4,234
     The supplementary information included in Schedule 1 is presented for purposes of additional analysis and is not       Net assets
     a required part of the basic financial statements. Such information has been subjected to the auditing procedures                Unrestricted:
     applied in the audit of the 2008 basic financial statements and, in our opinion, is fairly stated in all material                    Available for operations                               13,753       12,805
     respects in relation to the 2008 basic financial statements taken as a whole.                                                        Board designated (note 6)                              64,333       61,311
                                                                                                                                                Total unrestricted                               78,086       74,116
                                                                                                                                      Temporarily restricted (note 6)                            61,818       61,345
                                                                                                                                      Permanently restricted (note 6)                            70,733       61,316

                                                                                                                                              Total net assets                                 210,637      196,777
     November 12, 2008                                                                                                                        Total liabilities and net assets               $ 216,930    $ 201,011




                                                                                                                            See accompanying notes to financial statements.
28                                                                                                                                                                                                    29




     Statement of Activities
     Year ended June 30, 2008
     (With comparative totals for 2007)
     (Dollars in thousands)

                                                                                                Unrestricted
                                                                                              Board               Total        Temporarily     Permanently                    Totals
                                                                             Operations     designated         unrestricted     restricted      restricted        2008                     2007
     Revenues, gains, and other support:
            Contributions                                                    $    9,517     $      5,010       $    14,527     $     7,332     $     9,175    $    31,034              $    26,237
            Revenue from the City of New York:
                    Contract revenue (note 11)                                    4,786                —             4,786              —               —           4,786                    4,579
                    Project revenue (note 11)                                         —            4,085             4,085              —               —           4,085                    3,035
            Special events revenue                                                4,045                —             4,045              —               —           4,045                    3,700
                    Less expenses incurred for special events                      (756)               —              (756)             —               —            (756)                    (809)
                                                                                  3,289                —             3,289              —               —           3,289                    2,891
             Interest and dividends, net of investment expenses of $1,446           827              255             1,082             566              60          1,708                    1,995
             Net gain on sale of investments                                           9           6,570             6,579          14,609           1,504         22,692                   14,411
             Change in unrealized (loss) gain on investments                         (15)         (4,627)           (4,642)        (10,655)         (1,322)       (16,619)                  12,121
             Change in value of split-interest agreements                             —               (31)              (31)            —               —              (31)                     13
             Other (note 8)                                                       2,150                —             2,150             352              —           2,502                    2,280
                               Total revenues, gains, and losses                 20,563           11,262            31,825          12,204           9,417         53,446                   67,562
             Net assets released from restrictions:
                      Contributions, other revenues, and gains (losses)          20,243          (10,920)            9,323           (9,323)            —              —                        —
                      Administrative cost recovery                                2,408               —              2,408           (2,408)            —              —                        —
                               Total net assets released from restrictions       22,651          (10,920)           11,731         (11,731)             —              —                        —
                               Total revenues, gains, and other support          43,214              342            43,556              473          9,417         53,446                   67,562
     Expenses:
             Program services:
                      Design and construction                                    13,836                —            13,836               —              —          13,836                   12,934
                      Horticulture, maintenance, and operations                  13,718                —            13,718               —              —          13,718                   13,465
                      Visitor services                                            3,580                —             3,580               —              —           3,580                    3,162
                               Total program services                            31,134                —            31,134               —              —          31,134                   29,561
             Supporting services:
                      Fund-raising                                                4,955               —              4,955             —               —          4,955                    4,627
                      Management and general                                      3,497               —              3,497             —               —          3,497                    3,522
                               Total supporting services                          8,452               —              8,452             —               —          8,452                    8,149
                               Total expenses                                    39,586               —             39,586             —               —         39,586                   37,710
                               Increase in net assets before transfers            3,628              342             3,970            473           9,417        13,860                   29,852
     Transfers                                                                   (2,680)           2,680                —              —               —             —                        —
                               Increase in net assets                               948            3,022             3,970            473           9,417        13,860                   29,852
     Net assets at beginning of year                                             12,805           61,311            74,116         61,345          61,316       196,777                  166,925
     Net assets at end of year                                               $   13,753     $     64,333       $    78,086     $   61,818      $   70,733     $ 210,637                $ 196,777

     See accompanying notes to financial statements.
30                                                                                                                                                                         31




     Statement of Activities
     Year ended June 30, 2007
     (Dollars in thousands)



                                                                                               Unrestricted
                                                                                             Board               Total       Temporarily     Permanently
                                                                             Operations    designated         unrestricted    restricted      restricted       Totals
     Revenues, gains, and other support:
            Contributions                                                    $    7,381    $      7,546       $    14,927    $     5,759     $     5,551   $     26,237
            Revenue from the City of New York:
                    Contract revenue (note 11)                                    4,579              —              4,579            —                —           4,579
                    Project revenue (note 11)                                        —            2,748             2,748           287               —           3,035
            Special events revenue                                                3,700              —              3,700            —                —           3,700
                    Less expenses incurred for special events                      (809)             —               (809)           —                —            (809)
                                                                                  2,891              —              2,891            —                —           2,891
             Interest and dividends, net of investment expenses of $1,145         1,150             282             1,432           551               12          1,995
             Net gain on sale of investments                                         30           4,100             4,130         9,559              722         14,411
             Change in unrealized gain on investments                                —            3,345             3,345         7,845              931         12,121
             Change in value of split-interest agreements                            —               13                13            —                —              13
             Other (note 8)                                                       1,993              —              1,993           287               —           2,280
                               Total revenues, gains, and losses                 18,024          18,034            36,058        24,288            7,216         67,562
             Net assets released from restrictions:
                      Contributions, other revenues, and gains (losses)          19,755          (7,575)           12,180        (12,180)             —              —
                      Administrative cost recovery                                2,403              —              2,403          (2,403)            —              —
                               Total net assets released from restrictions       22,158          (7,575)           14,583        (14,583)             —              —
                               Total revenues, gains, and other support          40,182          10,459            50,641           9,705          7,216         67,562
     Expenses:
             Program services:
                      Design and construction                                    12,934               —            12,934              —               —         12,934
                      Horticulture, maintenance, and operations                  13,465               —            13,465              —               —         13,465
                      Visitor services                                            3,162               —             3,162              —               —          3,162
                               Total program services                            29,561               —            29,561              —               —         29,561
             Supporting services:
                      Fund-raising                                                4,627              —              4,627            —                —        4,627
                      Management and general                                      3,522              —              3,522            —                —        3,522
                               Total supporting services                          8,149              —              8,149            —                —        8,149
                               Total expenses                                    37,710              —             37,710            —                —       37,710
                               Increase in net assets before transfers            2,472          10,459            12,931         9,705            7,216      29,852
     Transfers                                                                    3,598          (3,598)               —             —                —           —
                               Increase in net assets                             6,070           6,861            12,931         9,705            7,216      29,852
     Net assets at beginning of year                                              6,735          54,450            61,185        51,640           54,100     166,925
     Net assets at end of year                                               $   12,805    $     61,311       $    74,116    $   61,345      $    61,316   $ 196,777

     See accompanying notes to financial statements.
32                                                                                                                                                                                                                                                     33




     Statements of Cash Flows                                                                                         Central Park Conservancy, Inc.
     Years ended June 30, 2008 and 2007                                                                               Notes to Financial Statements
     (Dollars in thousands)                                                                                           June 30, 2008 and 2007
                                                                                                                      (Dollars in thousands)

                                                                                                                      1. Organization
                                                                                                                         Central Park Conservancy, Inc. (the Conservancy) is a not for profit organization incorporated under the laws of
                                                                                        2008             2007            New York State and is a tax exempt organization under the Internal Revenue Code.
     Cash flows from operating activities:
             Increase in net assets                                                 $     13,860     $    29,852         The Conservancy is funded primarily from contributions made by individuals, corporations, and foundations
             Adjustments to reconcile increase in net assets to                                                          within the metropolitan area, as well as project and contract revenue from the City of New York/Department of
                     net cash provided by (used in) operating activities:                                                Parks and Recreation. These amounts are used to fund major capital improvements, provide horticultural care and
                     Depreciation and amortization                                           284             249         maintenance, and offer programs for volunteers and visitors of Central Park. The major capital improvements are
                     Change in unrealized loss (gain) on investments                      16,619         (12,121)        not capitalized assets of the Conservancy but are assets of the City of New York.
                     Net gain on sale of investments                                     (22,692)        (14,411)
                     Change in value of split-interest agreements                             31              (13)    2. Summary of Significant Accounting Policies
                     Permanently restricted contributions and earnings                                                   a. Basis of Accounting
                         classified as financing activities                               (9,417)         (7,216)           The accompanying financial statements have been prepared on the accrual basis.
                     Changes in operating assets and liabilities:
                         Increase in accounts receivable                                    (939)         (4,401)        b. Basis of Presentation
                         Increase in prepaid expenses and other assets                        (38)            (80)          Net assets and revenues, expenses, gains, and losses are classified based on the existence or absence of donor-
                         Increase in inventory                                                (11)              (2)         imposed restrictions. Accordingly, the net assets of the Conservancy and changes therein are classified and
                         Decrease in contributions receivable                                                               reported as follows:
                             net of amounts classified as financing activities             5,457                31               Unrestricted Net Assets – Net assets that are not subject to donor-imposed restrictions. However, the board
                         Increase (decrease) in accounts payable and                                                             of trustees may choose to designate such funds for particular uses.
                             accrued expenses                                              2,152          (1,099)                Temporarily Restricted Net Assets – Net assets subject to donor-imposed restrictions that will be met either
                         Decrease in deferred revenue                                       (270)             (30)               by actions of the Conservancy and/or the passage of time.
                              Net cash provided by (used in) operating activities          5,036          (9,241)                Permanently Restricted Net Assets – Net assets subject to donor-imposed restrictions that the Conservancy
     Cash flows from investing activities:                                                                                       maintains permanently. Generally, the donors of these assets permit the Conservancy to use all or part of
             Proceeds from sale of investments                                           246,553          93,201                 the income earned on related investments for general or specific purposes.
             Purchases of investments                                                   (259,056)        (90,014)
             Acquisition of fixed assets                                                     (344)          (374)           Revenues, gains, and other support are reported as increases in unrestricted net assets unless their use is limited by
                              Net cash (used in) provided by investing activities         (12,847)         2,813            explicit donor-imposed restrictions or by law. Expenses are reported as decreases in unrestricted net assets. Gains and
     Cash flows from financing activities:                                                                                  losses on investments and other assets or liabilities are reported as increases or decreases in unrestricted net assets
             Permanently restricted contributions and earnings                             9,417           7,216            unless their use is restricted by explicit donor stipulation or by law. Expirations of temporary restrictions on net
             Increase in permanently restricted contributions receivable                    (813)           (873)           assets (i.e., the donor imposed stipulated purpose has been fulfilled and/or the stipulated time period has elapsed) are
             Net change in split-interest agreements                                          (56)              (3)         reported as net assets released from restrictions.
                              Net cash provided by financing activities                    8,548           6,340
                              Net increase (decrease) in cash                                737              (88)       c. Contributions
     Cash at beginning of year                                                             1,760           1,848            Contributions, which include unconditional promises to give (pledges), are recognized as revenues in the period
     Cash at end of year                                                            $      2,497     $     1,760            in which the pledge or cash is received. Unconditional promises to give that are expected to be collected in
                                                                                                                            future years are recorded at the present value of their estimated future cash flows, net of allowances. Conditional
     See accompanying notes to financial statements.                                                                        promises to give are not recognized until they become unconditional, that is, when the future and uncertain
                                                                                                                            event on which they depend has occurred.
34                                                                                                                                                                                                                                                            35




     d. Investments                                                                                                                     is at least reasonably possible that changes in the values of investment securities will occur in the near term and
         Investments are carried at fair value. Fair value is based on published market prices for marketable securities.               that such changes could materially affect the amounts reported in the balance sheets.
         The fair values of the hedge funds are reported by the fund managers. The Conservancy reviews and evaluates
         the values provided by the external fund managers and agrees with the valuation methods and assumptions                     k. Recent Accounting Pronouncements
         used in determining the fair value of the funds. Donated securities are measured at fair value at the date of the              In June 2006, the Financial Accounting Standards Board (FASB) issued FASB Interpretation No. 48, Accounting
         contribution.                                                                                                                  for Uncertainty in Income Taxes, an interpretation of FASB Statement No. 109 (FIN 48). FIN 48 addresses the
                                                                                                                                        accounting for uncertainties in income taxes recognized in an organization’s financial statements and prescribes
     e. Fixed Assets                                                                                                                    a threshold of more-than-likely-than-not for recognition and de-recognition of tax positions taken or expected
        Fixed assets are recorded at cost. Furniture and equipment are depreciated using the straight-line method over                  to be taken in a tax return. FIN 48 also provides related guidance on measurement, classification, interest
        their estimated useful lives. Leasehold improvements are amortized over the term of the lease or life of the asset,             and penalties, and disclosures. FIN 48 is expected to be effective for the Conservancy’s fiscal year 2009. The
        whichever is shorter.                                                                                                           Conservancy does not expect the adoption of FIN 48 to have a significant impact to the financial statements.

     f. Split-Interest Agreements                                                                                                       In September 2006, the FASB issued Statement of Financial Accounting Standard (SFAS) No. 157, Fair Value
         The Conservancy’s split interest agreements with donors consist primarily of charitable gift annuities and                     Measurements (SFAS 157). SFAS 157 defines fair value, establishes a framework for measuring fair value, and
         irrevocable charitable remainder trusts for which the Conservancy serves as trustee. Assets are invested and                   requires expanded disclosures about fair value measurements. SFAS 157 is effective for reporting periods
         payments are made to donors and/or other beneficiaries in accordance with the respective agreements.                           beginning after November 15, 2007. The adoption of SFAS 157 will require additional disclosures regarding the
                                                                                                                                        inputs used to develop the fair value measurements, and the impacts of certain measurements on the statement
        Contribution revenue for charitable gift annuities and charitable remainder trusts is recognized at the                         of activities. The Conservancy does not expect the adoption of SFAS 157 to have a significant impact to the
        date the agreement is established, net of the liability recorded for the present value of the estimated future                  financial statements.
        payments to be made to the respective donors and/or other beneficiaries.
                                                                                                                                     l. Reclassifications
        The present value of payments to beneficiaries of charitable gift annuities and charitable remainder trusts                      Certain amounts in the 2007 financial statements have been reclassified to conform to the 2008 presentation.
        is calculated using discount rates, which represent the risk-free rates in existence at the date of the gift. Gains
        or losses resulting from changes in actuarial assumptions and accretions of the discount are recorded as                  3. Investments
        increases or decreases in the respective net asset class in the accompanying statements of activities.                       A summary of investments at June 30, 2008 and 2007 is as follows:
                                                                                                                                                                                                                               Fair value
     g. Cash and Cash Equivalents                                                                                                                                                                                    2008                       2007
        For the purpose of the statement of cash flows, the Conservancy considers highly liquid investments purchased                Short-term investments:
        with an original maturity of three months or less, other than those held in the investment portfolio, to be                          Cash equivalents                                                    $       35,369             $     27,354
        cash equivalents.
                                                                                                                                     Other investments:
     h. Use of Estimates                                                                                                                    Money market and mutual funds                                                8,027                    31,735
        The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires                   Common stocks                                                               90,126                   103,355
        management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure              US Treasury bond and other notes                                            51,427                        —
        of contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the               Hedge funds                                                                  2,532                     6,461
        reporting period. Actual results could differ from those estimates.                                                                                                                                      $     152,112              $    141,551

     i. Functional Allocation of Expenses                                                                                            The fair value of investments at November 12, 2008 is approximately $112,453.
         The costs of providing the various programs and other activities of the Conservancy have been summarized on
         a functional basis in the accompanying statements of activities. Accordingly, certain costs have been allocated             The Conservancy maintains an investment pool that consists of the “other investments” described in the summary
         among the programs and supporting services benefited.                                                                       above. The Conservancy’s board of trustees has authorized a policy designed to preserve the value of these pooled
                                                                                                                                     investments in real terms (after inflation) and provide a predictable flow of funds to support operations. The
     j. Risks and Uncertainties                                                                                                      Conservancy’s investment pool includes contributions, interest, dividends, and realized and unrealized gains and
         The Conservancy invests in various investment securities. Investment securities are exposed to various risks such           losses, net of investment management fees. The policy permits the use of a spending rate of up to a maximum of
         as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it      6% applied to a moving average of the value of the investment pool as of December 31 of the three previous years.
                                                                                                                                     In fiscal 2008 and 2007, the Conservancy utilized a rate of 4% of the total investment pool. In fiscal 2008 and 2007
                                                                                                                                     the related amounts that were used to support operations were $4,536 and $4,109, respectively.
36                                                                                                                                                                                                                                                         37




                                                                                                                                 Permanently Restricted Net Assets
     4. Contributions Receivable                                                                                                 Permanently restricted net assets are restricted to investment in perpetuity, the income from which is expendable
        Contributions receivable at June 30, 2008 and 2007 are due to be collected as follows:                                   to support the following purposes at June 30, 2008 and 2007:

                                                                                        2008                     2007                                                                                           2008                     2007
         Less than one year                                                         $      7,773             $      9,290        Horticulture, maintenance, and operations                                    $    62,887              $    53,518
         One to five years                                                                10,602                   13,356        Visitor services                                                                   3,943                    3,943
         Five years and thereafter                                                         1,050                    1,900        General purposes                                                                   3,903                    3,855
                                                                                          19,425                   24,546                                                                                     $    70,733              $    61,316
         Less allowance                                                                      (347)                    (347)
         Less discount to present value                                                                                          The Campaign for Central Park
             (at rates ranging from 2.5% – 6.2%)                                            (1,172)                 (1,649)      The Conservancy recorded $16,258 and $13,930 in campaign contributions in all net asset classifications for the
                 Contributions receivable, net                                      $       17,906           $      22,550       years ended June 30, 2008 and 2007, respectively.

     5. Fixed Assets                                                                                                             Donor and board designated net assets for the Campaign for Central Park included in unrestricted, temporarily
        A summary of fixed assets at June 30, 2008 and 2007 is as follows:                                                       restricted, and permanently restricted net assets at June 30, 2008 and 2007 are as follows:
                                                                                                              Estimated
                                                                2008                     2007                useful lives                                                                                         2008                     2007
         Furniture and fixtures                             $          461          $          431           5 to 10 years       Net asset class:                                                             $                        $
         Office and field equipment                                  3,577                   3,280                  3 years         Unrestricted – board designated                                                   14,646                   14,936
         Leasehold improvements                                        429                     412                 10 years         Temporarily restricted                                                            13,108                   12,865
                                                                     4,467                   4,123                                  Permanently restricted                                                            13,071                    6,803
         Less accumulated depreciation                                                                                                                                                                        $       40,825           $       34,604
                and amortization                                    (3,769)                  (3,485)
                                                            $          698          $           638                           7. Line of Credit
                                                                                                                                 The Conservancy has a $1,000 line of credit available from JPMorgan Chase Bank (the Bank).
     6. Net Assets
        Unrestricted – Board designated                                                                                          The line of credit is available for renewable one-year periods unless terminated by the Bank or the Conservancy.
        Unrestricted – board designated net assets are available for the following purposes at June 30, 2008 and 2007:           Interest will accrue at either the Bank’s prime rate or at a fixed rate (based on money market rate) quoted by the
                                                                                                                                 Bank for 30, 60, or 90 days, at the Conservancy’s option at the time of borrowing. No amounts were outstanding
                                                                                      2008                     2007              under this line of credit at June 30, 2008 and 2007.
         Design and construction                                                    $    22,814              $    22,194
         Horticulture, maintenance, and operations                                       18,112                   17,501      8. Other Revenue, Contributed Services, and Facilities
         Visitor services                                                                   118                      116         A summary of other revenue at June 30, 2008 and 2007 is as follows:
         General purposes                                                                23,289                   21,500
                                                                                    $    64,333              $    61,311                                                                                        2008                     2007
                                                                                                                                 Merchandise sales, program revenue, and fees                                 $     1,543              $     1,455
         Temporarily Restricted Net Assets                                                                                       Contributed services and facilities                                                  959                      825
         Temporarily restricted net assets are available for the following purposes at June 30, 2008 and 2007:                                                                                                $     2,502              $     2,280

                                                                                      2008                     2007
         Design and construction                                                    $    12,122              $    12,006         The Conservancy receives contributed legal advice, office space, and utilities. The value of these services is recorded
         Horticulture, maintenance, and operations                                       43,142                   42,954         in the Conservancy’s financial statements and is included as other revenue and allocated to functional expenses in
         Visitor services                                                                 6,059                    5,900         the statements of activities.
         General purposes                                                                   495                      485
                                                                                    $    61,818              $    61,345         In addition, many individuals have volunteered their time to the Conservancy. The value of these services is not
                                                                                                                                 included in the accompanying financial statements.
38                                                                                                                                                                                                                                                       39




     9. Retirement Plan                                                                                                        11. Contract Revenue
        The Conservancy has a defined contribution retirement plan (the Plan) under Section 403(b) of the Internal Revenue         In April 2006, the Conservancy renewed its eight-year management contract with the City of New York and the
        Code in which all employees, as defined, are eligible to participate. Participants may make voluntary contributions,       Department of Parks and Recreation, retroactive to July 1, 2005. Commencing on July 1, 2005, in order to be
        subject to plan limitations, to be applied toward the purchase of retirement annuities. The Conservancy is obligated       entitled to payments from the Department of Parks and Recreation, the Conservancy must raise and expend annually
        to contribute 5% of the employee’s base compensation, for all eligible employees, as defined. The Conservancy is           a minimum of $5,000 for maintenance and repairs, public programs, landscaping and rehabilitation, or repair of
        also obligated to match employee contributions up to a maximum of 1% of the employee’s base compensation, for              existing facilities, subject to certain exclusions. In exchange for meeting those requirements, the Department of
        all eligible employees, as defined. For the years ended June 30, 2008 and 2007, the Conservancy contributed $852           Parks and Recreation will pay the Conservancy a minimum of $1,000, which is required by contract to be expended
        and $736, respectively, to the Plan on behalf of its employees. All contributions vest immediately.                        for specific services. This minimum payment can be increased up to a maximum of $2,000 by formula, based on the
                                                                                                                                   amount by which the Conservancy exceeds its $5,000 threshold in any one year.
         In fiscal 2007, the Conservancy implemented a deferred compensation plan (the Plan) under Section 457(b)
         of the Internal Revenue Code in which the Conservancy will contribute $15 per annum for each officer of the               Under this contract, the Conservancy is also entitled to a payment equal to a portion of concession revenue earned
         Conservancy, as defined. For the year ended June 30, 2008 and 2007, the Conservancy contributed $135 and $75,             in Central Park. The Conservancy receives an amount equal to 50% of concession revenue earned in excess of
         respectively, to the Plan.                                                                                                $6,000, measured as of the prior fiscal year. Additional revenue received by the Conservancy for fiscal 2008 and
                                                                                                                                   2007 was $2,786 and $1,981, respectively. The contractual arrangement may only be terminated under specific
     10. Commitments and Contingencies                                                                                             conditions outlined in the agreement.
         Lease
         The Conservancy has a lease agreement for office space in New York City expiring in 2013. Annual lease payments           The Conservancy recognizes revenue in connection with this contract as expenditures are made for specific services.
         include minimum base rent subject to escalation charges and a proportionate share of any increase in real estate          In fiscal 2008 and 2007, the Conservancy recognized as revenue and expended $4,786 and $4,579 respectively,
         taxes. The Conservancy received rent abatement for the first four months of the lease. Rent expense each year is          related to the contract. At June 30, 2008 and 2007, the related receivable was $1,595 and $1,427, respectively.
         based on the total lease commitment recognized over the life of the lease on a straight-line basis. A deferred rent
         obligation, $59 in 2008 and $16 in 2007, included in accounts payable and accrued expenses, has been established          Project Revenue
         for the cumulative difference between rent expense recognized and the amounts paid on the lease.                          In March 2007, the Conservancy entered into a contract for capital projects for the Campaign for Central Park
                                                                                                                                   with the City of New York and the Department of Parks and Recreation, retroactive to July 1, 2006. Payment is on
             Future minimum lease payments are as follows:                                                                         a reimbursement basis for eligible expenses incurred by the Conservancy, with the funds made available at a rate of
                                                                                                                                   up to $3,571 annually for seven years beginning in fiscal year 2007.
                                 Year ending June 30:                          Amount
                                    2009                                   $          579                                          The Conservancy recognizes revenue in connection with this contract as expenditures are made. In fiscal 2008 and
                                    2010                                              579                                          2007, the Conservancy recognized $4,085 and $2,748, respectively, for project revenue under the campaign.
                                    2011                                              582
                                    2012                                              582
                                    2013                                              388
                                                                           $        2,710



         Rent expense for the years ended June 30, 2008 and 2007 was $367 and $324, respectively.

         Other
         The Conservancy is involved in various claims and legal actions arising in the ordinary course of business. In
         the opinion of the Conservancy’s management, the ultimate disposition of these matters will not have a material
         adverse effect on the Conservancy’s financial condition.
40                                                                                                                                                                                                                     41




     Schedule of Functional Expenses                                                                                                                                                                  Schedule 1
     Year ended June 30, 2008
     (With comparative totals for 2007)
     (Dollars in thousands)
                                                                                      Program services                                         Supporting services                             Total Expenses
                                                                              Horticulture,
                                                              Design and      maintenance,           Visitor                                      Management
                                                              construction   and operations         services         Total      Fund-raising      and general            Total          2008                    2007

     Salaries                                                 $      1,508     $    8,074         $      1,916   $     11,498    $     1,922       $     1,866       $      3,788   $    15,286            $     14,279
     Payroll taxes and employee benefits                               386          1,975                  414          2,775            521               507              1,028         3,803                   3,650
                     Total salaries and related expenses             1,894         10,049                2,330         14,273          2,443             2,373              4,816        19,089                  17,929

     Contracted services:
            Construction and design                                10,051              290                  —          10,341             —                 —                  —         10,341                   8,472
            Landscape                                                  —               447                  —             447             —                 —                  —            447                     616
            Consulting                                                181              161                 347            689            224               321                545         1,234                     880
            Mailings                                                   —                —                   —              —             509                —                 509           509                     591
            Other                                                      —               370                  36            406            318               109                427           833                     871
                    Total contracted services                      10,232            1,268                 383         11,883          1,051               430              1,481        13,364                  11,430

     Materials, equipment, and supplies                                821           1,452                 334          2,607             51                35                 86         2,693                    3,757
     Printing and publications                                          43              17                  66            126            197               108                305           431                      400
     Conferences, conventions, and meetings                              2              11                  36             49             41                41                 82           131                      141
     Postage, shipping, and messenger                                    8              30                   3             41            284                15                299           340                      344
     Travel                                                              2               1                   7             10              5                 1                  6            16                       14
     Equipment maintenance and rentals                                 478             241                 102            821             86                37                123           944                      930
     Insurance                                                         144             142                  35            321             55                34                 89           410                      519
     Occupancy                                                          16              56                  41            113            244               221                465           578                      492
     Advertising                                                        —                1                   1              2             27                16                 43            45                       77
     Miscellaneous                                                       4              52                  22             78             49                91                140           218                      503
     Bad debts                                                           6              78                  —              84             —                 —                  —             84                      100
     Contributed services                                              171             187                 186            544            357                58                415           959                      825
                                                                     1,695           2,268                 833          4,796          1,396               657              2,053         6,849                    8,102
                        Total expenses* before depreciation
                            and amortization                       13,821          13,585                3,546         30,952          4,890             3,460              8,350        39,302                  37,461

     Depreciation and amortization                                     15             133                   34            182             65                37                102           284                        249
                    Total expenses* – 2008                    $    13,836      $   13,718         $      3,580   $     31,134    $     4,955       $     3,497       $      8,452   $    39,586
                    Total expenses* – 2007                    $    12,934      $   13,465         $      3,162   $     29,561    $     4,627       $     3,522       $      8,149                          $     37,710
     *Exclusive of special event and investment expenses.




     See accompanying notes to financial statements.
42                                                                                                                                                                                                                                                43



                                                                                                                       Board of Trustees                       Jane R. Heller                                 Barbara E. Smith-Gasby
                                                                                                                       (On October 15, 2008)                   Senior Vice President                          Chief Executive Officer

     Leadership                                                                                                        Chairman
                                                                                                                       Thomas L. Kempner, Jr.
                                                                                                                                                               Bank of America

                                                                                                                                                               Sheila C. Labrecque
                                                                                                                                                                                                              B. Smith Enterprises

                                                                                                                                                                                                              Michael A. Steinberg
                                                                                                                       Executive Managing Member                                                              President
     Honoring A.J.C. Smith                                                                                             Davidson Kempner Capital Management     Evelyn H. Lauder
                                                                                                                                                               Senior Corporate Vice President
                                                                                                                                                                                                              Steinberg Asset Management Co., Inc.

     Chairman of the Board of Trustees, 1999-2007                                                                      Treasurer                               The Estée Lauder Companies Inc.                John Steinhardt
                                                                                                                                                                                                              Managing Partner
                                                                                                                       Michael Grobstein
                                                                                                                       Retired Vice Chairman                   William M. Lewis, Jr.                          KLS Diversified Asset Management
                                                                                                                       Ernst & Young                           Co-Chairman of Investment Banking
     For the past eight years, the Conservancy has been      Playground and Heckscher Playground, and the                                                      Lazard Frères & Co. LLC                        Erana M. Stennett
                                                                                                                       Secretary and General Counsel                                                          Bloomberg
     honored to have A.J.C. (Ian) Smith as its Chairman      creation of The Peter Jay Sharp Children’s Glade,         Kenneth H. Heitner, Esq.                Jay P. Mandelbaum
                                                                                                                       Partner                                 Executive Vice President                       John Stossel
     of the Board of Trustees. Under Ian’s leadership,       a new venue for innovative and exciting family            Weil, Gotshal & Manges LLP              JPMorgan Chase & Co.                           Co-Anchor
                                                                                                                                                                                                              ABC News
     Central Park has benefited from a period of             programming. Especially noteworthy is Ian’s               Judy Hart Angelo                        Leni May
                                                                                                                       Songwriter                                                                             Hon. Scott Stringer
     tremendous growth and rebirth. In 2003, he led the      undertaking of the most ambitious and complex                                                     Betsy Messerschmitt                            Manhattan Borough President
     celebrations for the 150th anniversary of the Park’s    historic preservation project in Central Park’s history   Jane Bayard                             President, Women’s Committee
                                                                                                                       Executive Vice President                Central Park Conservancy                       Stuart Subotnick
     inception in 1853 and, in                                                  — restoration of the Minton tile       Warburg Realty Partnership Ltd.                                                        Partner & Chief Operating Officer
                                                                                                                                                               Lynden B. Miller                               Metromedia Company
     2005, the 25th anniversary of                                              ceiling at Bethesda Terrace.           Hon. Adrian Benepe                      Lynden B. Miller Public Garden Design
                                                                                                                       Commissioner                                                                           Patsy C. Tarr
     the Conservancy. Ian launched                                                                                     NYC, Department of Parks & Recreation   E. Blake Moore, Jr.
                                                                                                                                                               Chief Executive Officer                        Elizabeth R. Varet
     the highly successful Campaign                                             Thanks largely to Ian’s efforts,                                               Allianz Global Investors Fund Management LLC   Chairman
                                                                                                                       Candice Bergen
     for Central Park in 2005, which                                            the foundation has been set to                                                 Allianz Global Solutions                       American Securities, L.P.
                                                                                                                       Douglas Blonsky
     has met its goal of raising                                                secure the future of the Park,         President, Central Park Conservancy     Madeleine Moore                                Mary Wallach
     $120 million, and he was                                                                                              and Central Park Administrator
                                                                                through the endowment, which                                                   Kenneth S. Olshan                              Strauss Zelnick
     responsible for overseeing                                                                                        Peter L. Briger, Jr.                                                                   Partner
                                                                                has more than doubled during           President                               Joe L. Roby                                    ZelnickMedia Corporation
     the eight-year renewal of the                                                                                     Fortress Investment Group               Chairman Emeritus
                                                                                his chairmanship, growing from                                                 Credit Suisse Securities (USA) LLC
     management agreement with                                                  $64 million in 1999 to over            Estrellita Brodsky                                                                     Life Trustees
                                                                                                                                                               Eric Rudin
     the City in 2006.                                                          $150 million in 2007.                  Judy Carson                             Executive Vice President                       William S. Beinecke
                                                                                                                                                               Rudin Management Co.                           Antaeus Enterprises, Inc.
                                                                                                                       Richard M. Cashin
     The Conservancy invested                                                                                          Managing Partner                        Michele Sacconaghi                             Lewis W. Bernard
                                                                                Fortunately, Ian’s vision and          One Equity Partners                     Vice President for Corporate Citizenship       Chairman
     nearly $550 million in the Park since its founding                                                                                                        Time Warner                                    Classroom, Inc.
                                                             wise counsel will continue as a valued Trustee,
                                                                                                                       Howard L. Clark, Jr.
     in 1980, and more than $240 million of it was           and together with his wife, Margaret — herself an         Vice Chairman                           Irwin Schneiderman                             James H. Evans
                                                                                                                       Barclays Capital                        Senior Counsel
     expended in the eight years of Ian’s tenure. During     active member of the Women’s Committee Board              Investment Banking Division             Cahill Gordon & Reindel LLP                    Henry R. Kravis
                                                                                                                                                                                                              Founding Partner
     this period, the Pond and the Mall, two of the Park’s   of Directors — the Conservancy looks forward                                                      Donna Schwartz                                 Kohlberg Kravis Roberts & Co.
                                                                                                                       Jean Clark
     most cherished landscapes, were restored to their       to many more years of their combined passion,                                                     Rae Paige Schwarz                              Ira Millstein, Esq.
                                                                                                                       Suzanne Cochran
     former glory, and a replica of the historic fence                                                                                                                                                        Senior Partner
                                                             wisdom, and inspiration.                                                                          Norman C. Selby                                Weil, Gotshal & Manges LLP
                                                                                                                       Norma Dana
     surrounding the Reservoir was installed. Ian has                                                                                                          Senior Managing Director
                                                                                                                       Gordon J. Davis, Esq                    Perseus LLC                                    Marguerite H. Purnell
     also overseen restoration of important features for                                                               Partner
                                                                                                                       Dewey & LeBoeuf LLP                     A.J.C. Smith                                   Elizabeth Barlow Rogers
     children and their families — West 110th Street                                                                                                                                                          President
                                                                                                                       Richard Gilder                          Donald G. Smith                                Foundation for Landscape Studies
                                                                                                                       Partner                                 President & Chief Investment Officer
                                                                                                                       Gilder, Gagnon, Howe & Co. LLC          Donald Smith & Co.                             E. John Rosenwald, Jr.
                                                                                                                                                                                                              Vice Chairman Emeritus
                                                                                                                       William R. Harrison, Jr.                Raymond W. Smith                               JP Morgan
                                                                                                                       Former Chairman & CEO                   Chairman
                                                                                                                       JPMorgan Chase & Co.                    Rothschild, Inc.                               Joan C. Schwartz
 44                                                                                                                                                                                      45




Women’s Committee                  Advisory Board                        Andrew Konopka                     Diane Schaub              Anthony Pontillo         John A. Martinez
                                   Mrs. Rand V. Araskog                  Jose Lopez +                       Bill Selezniov            Brian T. Purcell         Claire McClafferty
(On October 15, 2008)                                                    Sara Cedar Miller                  Paul Serra                William Quansah          Thomas McEntee
                                   Mrs. Neil P. Benedict
                                   Mrs. Livio M. Borghese                Cornelio Mora                      Than Soun                 John Reddick             Donovan A. Mitchell
Founders and Former Presidents                                           Emiliano Morales +                 Phen Suy                  Matthew C. Reiley        Gabriel Mitchell
Mrs. Howard L. Clark               Dr. Joyce F. Brown
                                   Mrs. Raymond G Chambers               Steven Norton                      Bryan Swan +              Goodson Sem              Gulab Mohammad Ayaz
Mrs. Charles A. Dana, Jr.                                                Charles Obery                      Juan Valentin             Stacy Sit
Mrs. Richard I. Purnell            Ms. Allison Cowles                                                                                                          Paula A. Morehouse
                                                                         Dominic Quaglia +                  Dario Veraldi             Reginald Tart Sr.        Andre Morgan
Mrs. Phyllis Cerf Wagner*          Mrs. Walter J. Curley                 Rafael Quinones +                  Derrick Woodbury          Trung Truong
                                   Mrs. Walter G. Dunnington, Jr.                                                                                              Kristina Nelson
                                                                         Jose Rodriguez                     Zully Zurheide +          David H. Turner          Linda Newman
Board of Directors                 Mrs. Anne Ford                        Darren Rogers                                                Richard Van Valkenburg
President                                                                                                                                                      Tee C. Ngiam
                                   Mrs. Charles F. Fortgang              Louis Urruttia-Orme                5 to 9 Years              Douglas Weller
Betsy Messerschmitt                                                                                                                                            Steven J. Oppedal
                                   Mrs. Lee M. Gammill, Jr.              Daniel S. Wallace                  Lane N. Addonizio         Wallace Wentink          Julie Palumbo
                                   Mrs. Robert M. Gardiner               Louis Young +                      Gideon D. Ahadzi          Robert Whearty           Kathryn Papacosma
Past Presidents                    Mrs. Louis V. Gerstner, Jr.           Gladstone Younger +                Melanie Alfonso           Maryann Williams
Mrs. Robert Cochran                                                                                                                                            Diana Reinhardt Paradis
                                   Mrs. S. Parker Gilbert                                                   Eric Anderson                                      Herman Paul
Mrs. Thomas G. Labrecque           Mrs. Alan C. Greenberg                15 to 19 Years                     Alice Baer                1 to 4 Years
Mrs. Richard S. LeFrak                                                                                                                                         Anthony Pickett
                                   Mrs. Peter S. Gregory                 Alicia Alvenda-Paez                Stephen M. Baldonado      Alan Anderson            Gloria Plata
Mrs. Joseph V. Missett III         Mrs. Ridgely Harrison                 Lydia Bonet +                      Larry Baskerville         Oscar Ayaquica
Mrs. Daniel P. Paduano                                                                                                                                         Jill Price
                                   Mrs. Richard Mishaan                  Kea Chea                           Robert Bennett            David Baker              Jennifer Prout
Mrs. Charles D. Peebler, Jr.       Mrs. Fernanda Niven                   Kathleen Cregg                     Jairam Bisessar           Blossom Beason
Mrs. Wilbur L. Ross, Jr.                                                                                                                                       Daniel Ransom
                                   Deborah Norville                      Andrea Hill                        Vyacheslava Bovtko +      Thomas Behrendt          Michael Richardson
Mrs. Jack Rudin                                                          Louis Johnson                      Jill Bristow              Larry Boes
                                   Mrs. Patricia S. Patterson                                                                                                  Byron A. Roberts
                                   Mrs. George H. Shattuck, Jr.          Vanthon Keo                        Matthew I. Brown          Steven Bopp              Mohanlal Roopnarine
Executive Vice President                                                 Yean Khiev                         Kelly Carrol              Julie Buzzeo
Mrs. Sylvester F. Miniter IV       Mrs. Lawrence D. Sperling                                                                                                   Michael Rosario
                                   Mrs. George H. Tilghman               Kenneth Love +                     Teresa Carta              Adelle Caravanos         Heather Rubenstein
                                   Mrs. Grant Winthrop                   Christopher Nolan                  Altagracia Cartagena      Anna Carey               Rupert Russell
Vice Presidents                                                          Vi Ong                             Lois E. Cassidy           John-Paul Catusco
Mrs. Michael Kennedy               Mrs. H. Joseph Witte                                                                                                        Gary C. Saunders
                                                                         Pedro Peralta                      Brian Conaty              Angie Chien
Mrs. Jeffrey M. Peek                                                     Jose Rivera +                      Matthew T. Cook           Vern Clarke              Diane B. Schoenthal
                                   Central Park Conservancy                                                                                                    Katherine Sheleg
                                                                         Valentine Ruiz +                   Terri L. Coppersmith      Thomas Cogswell
Secretary                          Management and Staff                  Hanna Ryan +                       Angel Corbett             Anderson Conserve        Cornell Simmons
Mrs. Jonathan Churchill            (On October 1, 2008)                  Christine Seita                    Victor Corporan           Pablo R. Cruz            Rachel M. Stephenson
                                                                         Linton Smith                       Christopher C. Cousino    Daniel Daly              Silvia Tamayo
Assistant Secretary                + New York City Department of         Khol Sok                           Matthew C. D’Amico        Curtis Dann-Messier      Raymond M. Verrey
Mrs. M. Anthony May                Parks & Recreation Employees          Norma Soto                         Gary R. Dearborn          George A. Davis          Marie R. Warsh
                                                                         Stephen Spinelli                   Lawrence J. Decker        Raymond Davy             Eric Whitaker
Treasurer                          President, Central Park Conservancy   Edward Valarezo +                  Quezon Dela Cruz          Robert Diaz              Stephen Wilkinson
Mrs. Wendy N. Carduner               and Central Park Administrator      Juan C. Vargas                     Stephen DeLuise +         Lisa Doughty             Crystal Williams
                                   Douglas Blonsky                       Samuel Vargas                      John P. Dillon            Mark Douglas             Steven Willis
Mrs. Robin Bell-Stevens                                                  Mario Vaughan                      Vanessa A. Francisco      Marie-Anne Dreher        Krystal Wilson
Mr. Douglas Blonsky, ex officio    Vice President for Operations         Mario Zafarana                     Laura Frank               Deborah L. Drucker       Lakema Wilson
Susan Calhoun                      Neil Calvanese                                                           Hector O. Gamboa          Agata Dziemianczyk       Jennifer K. Wong
Mrs. David I. Foley                                                      10 to 14 Years                     Sparks Grassly            Audra M. Eaglen          Lloyd E. Woodcock III
Mrs. William B. Harrison, Jr       Vice President for Development        Regina V. Alvarez                  Margarita Haas            Lindsay J. Empric
Mrs. James Herring                   and External Affairs                Pedro Augusto                      Nereida Hernandez         Michael T. Evans         Less Than 1 Year
Mrs. John Hilson                   Terri Coppersmith                     Ed Benson                          Alan N. Herskowitz        Kira Finney              Miguel A. Ayala
Mrs. Ara Hovnanian                                                       Martin Calzadilla                  Annamarie Hessman         Shadai L. Franklin       Omar Berroa
Mrs. William H. Ingram             Vice President for Capital Projects   Ronise Cox                         Rochelle Hines            Steven Fusco             Marissa N. Block
Mrs. Carlisle Jones                Christopher Nolan                     William Crespo +                   Rith Hun                  Joshua Galiley           Kevin Brown
Mrs. Kenneth Joseph                                                      Keith Dore +                       Randolph Joseph           Kimberly A. Greenland    Melinda L. Bush
Mrs. Memrie M. Lewis                                                     Raymond Duggan                     Sheila Kendall            Pavlo Gusev              Donna Capossela
Mrs. Dan Lufkin                    Vice President of Development
                                     and Capital Campaign                John Felicies +                    Jamaal L. King            Laura Hall               Sara J. Dobbins
Mrs. Donald K. Miller                                                    Wendy Fortune                      Eric Kohler               John Harrigan            Alexander Feleppa
Mrs. Elaine Murray                 Diane Schoenthal
                                                                         Russell Fredericks                 Daisy Le’Gare             Abigail D. Healy         Collette Franco
Mrs. William M. Pope, Jr.                                                Beth Haskell                       Alice Lichtenstein        Julio R. Hernandez       Brian Gerald
Mrs. Bambi Putnam                  CFO and Vice President for Finance
                                     and Administration                  Maria Hernandez                    Francisco Luna            Tsay Huang               D’Andre C. Gray
Mrs. John S. Pyne                                                        Linda Heyward                      Nicholas P. Marotta       William Jamison
                                   Stephen Spinelli                                                                                                            Kathryn A. Hibschman
Mrs. Julian H. Robertson, Jr.                                            John Hiser                         Derrick McElveen          Dwight Knowles +
Mrs. Spencer Robertson             Employees                                                                                                                   D. Scott Johnson
                                   20 or More Years                      Wayne Lighty                       George W. McPherson Jr.   John Y. Kyte             Edward M. Juda
Hon. Allison Whipple Rockefeller                                         Keiron C. Lindsay                  Earl P. Munroe            Orlando M. Lanza
Elizabeth Barlow Rogers            William Berliner                                                                                                            Alan S. Karpman
                                   Douglas Blonsky                       Suntov Ly                          Cheryl Neldon             Peter Lecointe           Bobbi Kravis
Mrs. Benjamin M. Rosen                                                   Joseph McBain                      Emma Nelson               Kathleen Lessard
Mrs. Alexia Hamm Ryan              Neil Calvanese                                                                                                              Jimmy Molina
                                   Gary Drennon +                        Giovanni Mosquera                  Antonio Nieves            Richard Lombardi         Paul C. Okarmus
Mrs. Jennifer Saul                                                       Nelson Nicholas +                  Khen Ong                  Cruz Lopez
Mrs. H. Virgil Sherrill            James M. Eggleston                                                                                                          Hannah M. Parker
                                   Milton Evora                          Mauricio A. Perdomo                Kathryn Ortiz             Julio Lopez              Gregory Rossi
Mrs. Mark L. Shifke                                                      Joaquim Pereira                    Florence O’Shaughnessy    Sabrina Lutchman
Mrs. A. J. C. Smith                Marvin Ferguson                                                                                                             Richard Sepulveda
                                   Jose Figueroa                         Sergio A. Ricano                   Chantha Pang              Carrie Majette           Rebecca R. Sullivan
Elizabeth F. Stribling                                                   Micheal Ryan +                     Catherine Parry           Linda Malley
Ms. Samantha S. Topping            James Fleming                                                                                                               Jonathan G. Taub
                                   Sotha Kang                            Ronald Sanders                     Yarw M. Peprah            Melissa Marion-Burford   Kris Verma
Miss Thorunn Wathne                                                                            * deceased
 46                                                                                                                                                                                          47



Michael W. Zemola             5 to 9 Years              David Westcott                     Duane Grant                           Patricia Momigliano         Bryan Schneider
                              Justin Abelow             Web Wheelock                       Josephine Greiner                     Kathy Mundy                 Arnold Schoenfeld
New York City Department of   Genevive Alexander        Ann Whyte                          Mimi Haggin                           Christopher Murphy          Linda Schott
Parks & Recreation            Rose Applebaum            Robert Wolkow                      Jerry Harawitz                        Jessica Murphy              Eleanor Shakin
                              Norma Baum                Vicki Wilkins                      Deborah Harley                        Nina Faia Mutlu             Kay Sheehan
Deputy Chief of Operations    Diane Fung Benson         Anna Zagoloff                      Elizabeth Harper                      Babette Nadelman            Irene Shrier
Nelson Nicholas               Sarah Bessey                                                 Harry Harwood                         Niclas Nagler               Carol Sidley
                              Ruth Bernstein            Up to 5 Years                      Linda Heller                          Mary Ann Napolitano         Cybil Sidney
Park Supervisors              Harriet Blacker           Regina Alsis                       Isabel Henelley                       Carol Nemo                  Walter Francis Siebecker
Stephen De Luise              Linda Blum *              Margaret Alerson                   Erik Hively                           Robert Nemo                 Brian Silvestry
Micheal Ryan                  Marty Birnbaum            Rachel Alzubi                      Anne Holderness                       Doug Nielsen                Audrey Slater
Zully Zurheide                Donna Bolkcom             Joann Amparan-Close                Tedric Holdsworth                     Jennifer Novik              Judith Smith
                              Dion Brennan              Lucimar Araujo                     Julie Holoway                         Sharon O’Connell            Marni Sommer
Central Park Volunteers       Jane Breakstone           Susie Armitage                     Daniel Homan                          Anthony O’Connor            Uni Son
                              Pauline Brooks            Georgia Avery                      Charles Honig                         Tom Olzenski                Liz Sorg
20 or More Years              John Bryan                Signe Baird                        Cindy Ippoliti                        Sandra Ospina               Bob Stanley
Margery Bloom                 Susan Chagrin             Derek Balcom                       Odette Janavel                        Daniel Passantino           Phil Stein
Abdul El-Amin                 Richard Dahlia            Kristi Bambridge                   Ximena Jordan                         Marion Pearce               Peter Szabaga
Elinor Fine                   Janet David               Annette Bamundo                    Nancy Kahn                            Deborah Pelosi              Ronnie Taffet
Richard Hooper                Bob Edmondson             Lauren Baum                        Harold Kaplan                         Ian Perry                   Jan Tannen
Louise Kruger                 Bayla Falber              Sy Baum                            Greg Kaufmann                         Kristine Petrucione         Barbara Tracey
Louise Ransom                 Kate Feldman              Mary Barknecht                     Robin Kassimir                        Daniel Pinkus               Brent Tucker
Doria Tenca                   Patricia Flamm            Stuart Benick                      Mary-Louise Kearns                    Barbara Priest              Paul Viani
Fern Stolper                  Cris Gleicher             Carol Bergman                      Julian Korn                           Theresa Rachelle            Cynthia Villani
                              Lucille Gordon            Karen Bichard                      Jane Kutnick                          Christa Rassman             Peggy Vishnupad
15 to 19 Years                Anthony Gosse             Fred Blattberg                     Saul Laniado                          Bernice Ravitz              Marissa Volshteyn
Maureen Antizzo               Christel Haesicke         Edwin Bobrow                       Mary Lou Lee                          John Richards               Andrew Waters
Lee Barash                    Sara Truslow Hardin       Meta Bodewes                       Fernando Leon                         Zoe Richardson              John Waters
Susan Baxter                  Gloria Hegy               Linda Brazda                       Patricia Leuthard                     Orrin Riley                 Diana Wayburn
Berton Chernizer              Clay Herrick              Jessica Brooks                     Edward Levine*                        Ken Rogers                  Gloria Weiss
Frank Comiskey                Malcolm Holderness        Wendy Byrne                        Roy Levit                             Dina Rosen                  Judy Weller
Abe Denowitz                  Noel Holland              Rita Callahan                      Laurie Lewis                          Kerry Rubenstein            Bernard Wides
Rita Denowitz                 Yvonne Holland            Dorothy Camporeale                 Suzanne Lorio                         Michael Samuels             Jay Wilson
Phyllis Giarro                Kathy Jennings            Samuel Carlisle                    William Mari                          Luis Santos                 Janice Williams
Virginia Glover               David Karabell            Joy Carol                          Tracie Masek                          Jean Saremsky               Barbara Withers
Phyllis Hollander             Judy Katz                 James Carragher                    Norma McMillan                        Leonard Saremsky            Roberta Wolf
Jacqueline Jeffrey            Mike W. Keenan            Tris Carson                        Dan Meyer                             Ann Saydlowski              Jane Wu
Judith Landrigan              Lorraine Klein-Nelson     Hans Christensen                   Hillary Miller                        Elaine Schechter            E. Bingo Wyer
Marjorie Naughton             Blanche Kaplan            Sheri Chubbuck                     Elizabeth Mindlin                     Iris Schickerling-Georgia   Mary Yerkes
Anni Newbeck                  Frank Kaplan              Gina Clemente
                              Herman Kroshinsky         Amy Cole                                                                                                                        * deceased
Marie Reno *
Nancy Warfield                Paul Lenner               Irene Conway
                              Linda Lewenson            Susan Cooper
10 to 14 Years                Brigitt Lewis-Diederich   David Cobb Craig
Lois Beadle                   Jerome Maisel             Gwen Danzig
Kelly Belford                 Karen McDonald            Lorna Darmour *
Arthur Bitterman              Camilla McFadden          Simeon David
Brigid Buchanan               Susan Miller              Carol Degener
Bill Dodds                    Simona Morini             Maureen Dillon
Mary Edmondson                Hartmut Munker            Robert Eber
Thomas Griffing               Flo O’Shaughnessy         Sally Emery
Mary Habstritt                Andrea Raskin             Ray Finkelstein
Lillian Hansen                Francine Riley            Donald Florman
Maggie Heimann *              Lars Rosager              Joyce Flynn
Steven Huppert                Joe Sandford              Linda Frank
Gloria Ilic                   Valerie Sarris            Harriet Frankel
Edna Konoff                   Richard Schad             Michael French
Raymond Knowles               Feola Scharf              Catherine Fredman
Margery Laird                 Aaron Schechter           Robert Frye
Suzi Leiter                   Barbara Schimansky        Claudia Fugalli
Charlotte Levine              Karl Schuman              Barbara Geller
Susan Lowry                   Barbara Schwimmer         Wendy Gebb
Jean May                      Richard Sonet             Glenn Gertler
Nancy Meiselas-Berner         Billy Squier              Mae Goffe
James Neff                    James Tegan               Jose (J J) Gonzalez
Ann Raymond                   Nancy Tollefson           David Gould
Judith Som                    Jay Townsend              Gerd Grace
Ida Crawford Stewart          Barbara Tracey            Michael Graff
Gayle Welling                 Donald Wagoner            Patricia Grew
                              Connie Welch              Marjorie Graham
                                                                              * deceased   Operations, Night and Weekend Crew.
                     Ways to Help the Park:




Adopt a Bench        Collect Art of        Endow a               Endow a Tree
                     the Park              Playground




Give a Legacy Gift   Endow a               Take a Custom         Become a Member
                     Park Zone             Van Tour              and Volunteer


             For more information, please visit www.centralparknyc.org,
      call 212-310-6600, or write us at 14 East 60th Street, New York, NY 10022.

				
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