Lincoln Center Development Project INC

Tax-deductible

New York, NY501(c)(3)Since 2001Arts & CultureEIN 13-4172481Revenue $16.2M in FY2025

On file with the IRS70 Lincoln Center Plaza 9th FL, 10023-6548 · New York, NYTax-exempt since Nov 2001Publicly supported charity — 170(b)(1)(A)(vi)

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To implement and oversee for charitable purposes the planned redevelopment and transformation of the Lincoln Center campus. See schedule o for continuation.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $41K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$609K
to officers and key staff · 4% of spending
Top officer’s pay lower than 55% of similar orgs
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $5.5M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.9M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16.2M
+56% vs prior year
Spent
$16.2M
To programs
71%
Net assets
$0
By yearFY2020–FY2025
Revenue
$16.2M
FY2025▲ +56%
Tap a bar for its year
Revenue by fiscal year
FY2020$24.3M
FY2021$127.7M
FY2022$277.9M
FY2023$104.6M
FY2024$10.3M
FY2025$16.2M
Expenses
$16.2M
FY2025▲ +57%
Tap a bar for its year
Expenses by fiscal year
FY2020$24.2M
FY2021$128.1M
FY2022$277.8M
FY2023$104.5M
FY2024$10.4M
FY2025$16.2M
Net assets
$0
FY2025▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$294K
FY2021−$115K
FY2022−$5K
FY2023$80K
FY2024$75K
FY2025$0

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $11.5M Management & general 29% · $4.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $609K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Project Executive Thru 6/28/24
$311,115Pt VII · Sec A
Director, Plan & Urban Design
$157,209Pt VII · Sec A
SR. Pm Des. & Const. Thru 11/15/24
$140,941Pt VII · Sec A
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
EVP, Gen. Counsel & Corp Sec.
$0Pt VII · Sec A
EVP, Chief Comm. & Marketing Officer
$0Pt VII · Sec A
$0Pt VII · Sec A

Thomas Wackrow’s $311K as Project Executive Thru 6/28/24 is at the 45th percentile of top reported officer pay among 749 $10–100M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Peter Flamm—$712,408$544,672$546,023$292,088—
Thomas Wackrow$311,115—————
Whitney Barrat——$166,685$151,506$149,889$103,135
Shreya Ghoshal$157,209$144,661$135,091———
January Santa Romana$140,941—————
Brianne Dougherty———$133,617$73,173$60,000
Douglas Woodward————$124,226$112,581

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Oversees redevelopment of the Lincoln Center campus.

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Provided by the organization

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1 program · $11.5M · in their own filed words · FY2024
01

Lincoln center development project, INC.'S (LCDP) goal is to implement and oversee for charitable purposes the planned redevelopment and transformation of the lincoln center campus. See schedule o.

$11.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$5.5M

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$16.2M
Ln 12
Fees for servicesLn 2g$10.7M
Gifts and grantsLn 1h$5.5M
Money outPt IX
$16.2M
Ln 25
Programscol B$11.5M
Managementcol C$4.8M
Owns and owesPt X
$0
net assets · Ln 32
Cash and savingsLn 1–2$50K
Total assetsLn 16$6.9M
LiabilitiesLn 26$6.9M
PeoplePt VI, VII
11
listed · VII A
PaidVII A3
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.5M
Fees for servicesLn 2g$10.7M
Total revenueLn 12$16.2M
Assets in detailPt X, end of year
CashLn 1$50K
Cash and savings togetherLn 1–2$50K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$6.9M
LiabilitiesLn 26$6.9M
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$175K$50K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$4.5M$6.9M
LiabilitiesLn 26$4.4M$6.9M
Net assetsLn 32$75K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$456K$456K
Pension plan contributionsLn 8$13K$13K
Other employee benefitsLn 9$43K$43K
Payroll taxesLn 10$34K$34K
Legal feesLn 11b$148K$148K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$354K$354K
Office expensesLn 13$20K$20K
OccupancyLn 16$30K$30K
TravelLn 17$66K$66K
Other expenses (24a–d)Ln 24$15.1M$11.5M$3.6M
Total functional expensesLn 25$16.2M$11.5M$4.8M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $16.2M$16.2M−$75K$0 990 PDF
FY2024 $10.3M$10.4M−$5K$75K 990 PDF
FY2023 $104.6M$104.5M$85K$80K 990 PDF
FY2022 $277.9M$277.8M$110K−$5K 990 PDF
FY2021 $127.7M$128.1M−$409K−$115K 990 PDF
FY2020 $24.3M$24.2M$48K$294K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $16,156,848 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,983,164$5,479,760
I-9 Program service revenuePrior year $6,362,728$10,677,088
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $10,345,892$16,156,848
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $916,788$546,064
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,433,648$15,685,783
I-18 Total expensesPrior year $10,350,436$16,231,847
I-19 Revenue less expensesPrior year −$4,544−$74,999
Part VI · Governance 4 of 4 board members independent, no flags
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $16,156,848 across 4 lines filed
VIII-1d Related organizations$5,479,760
VIII-1h Total contributions, gifts and grants$5,479,760
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,677,088$10,677,088
VIII-12 Total revenueRelated to mission $10,677,088 · Unrelated business $0 · Excluded from tax $0$16,156,848
Part IX · Statement of functional expenses $16,231,847 across 11 lines filed
IX-7 Other salaries and wagesManagement $456,323$456,323
IX-8 Pension plan contributionsManagement $12,734$12,734
IX-9 Other employee benefitsManagement $42,819$42,819
IX-10 Payroll taxesManagement $34,188$34,188
IX-11b Legal feesManagement $147,822$147,822
IX-11c Accounting feesManagement $6,774$6,774
IX-11g Other fees for servicesManagement $354,121$354,121
IX-13 Office expensesManagement $19,622$19,622
IX-16 OccupancyManagement $30,000$30,000
IX-17 TravelManagement $66,378$66,378
IX-24 Other expenses (24a–d)Programs $11,478,622 · Management $3,582,444$15,061,066
IX-25 Total functional expensesPrograms $11,478,622 · Management $4,753,225 · Fundraising $0$16,231,847
Part X · Balance sheet $6,903,177 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $174,999$50,000
X-3 Pledges and grants receivableStart of year $4,290,481$6,853,177
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $4,465,480$6,903,177
X-17 Accounts payable and accrued expensesStart of year $4,390,481$6,903,177
X-26 Total liabilitiesStart of year $4,390,481$6,903,177
X-27 Net assets without donor restrictionsStart of year $74,999$0
X-32 Total net assets or fund balancesStart of year $74,999$0
X-33 Total liabilities and net assetsStart of year $4,465,480$6,903,177
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$16,156,848
XI-2 Total expenses$16,231,847
XI-3 Revenue less expenses−$74,999
XI-4 Net assets at start of year$74,999
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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