Seventeen  New York City Public-Private Partnership/Park Education Campus [PPP/PEC] institutions receive a subsidy in excess of $1 BILLION annually from New York City taxpayers in the form of rent-free use of park land and buildings in addition to operating and capital costs. The PPP/PEC institutions also collect admission fees from New Yorkers despite laws providing for our free access in exchange for our subsidies.
Below, find graphic results of research relying on audited consolidated financial statements for the year ended 2018 or 2019 and/or IRS Form 990’s for operating, capital and admission amounts. Free rent was calculated based on a market value analysis.
- A consolidated graphical display of New Yorkers’ $1 Billion Annual Subsidy
- A breakdown of New Yorkers’ $1 Billion Annual Subsidy by category:
- $701.2 Million in Free Rent
- $112.5 Million in Admission Fees
- $59.4 Million in Capital Costs
- $172.2 Million in Operating Costs
Additionally, find a graphic explanation reporting that the PPP/PEC institutions have amassed $10 BILLION in Investment Portfolio and Endowment Assets as a result of New Yorkers’ subsidies demonstrating that the PPP/PEC institutions have the economic capacity to absorb their obligation to provide free access and instruction to New Yorkers.