2017ANNUALREPORT

60-86 MADISON AVENUE DISTRICT MANAGEMENT ASSOCIATION, INC.

PUBLIC SAFETYSANITATION

SPECIAL EVENTS& PROMOTIONSSTREETSCAPEADVOCACY

BOARD OF DIRECTORS OF THE MADISON AVENUE BUSINESS IMPROVEMENT DISTRICT

STAFF OF THE MADISON AVENUE BID

Matthew A. Bauer, PhD President

John P. Hunt Vice President for Operations

Mamadou Sene Assistant Director of Operations

PUBLIC SAFETY TEAMAlfred Ervin, SergeantRicardo Romero, SergeantAbdul Ali III, OfficerAnthony Drayton, OfficerPearl Floy, Officer / Operations Dispatcher

Tyrone Freeman, OfficerJermel Hardimon, OfficerKimani Osborne, OfficerJean Ramirez, OfficerDawud Samia, OfficerFerrar Stokes, OfficerCompton Van Cooten, OfficerRalph Vilain, OfficerEdward Williams, Officer

GLEAM TEAM(employees of The Doe Fund)Khalifa A. Ndiaye, SupervisorJulius Wilson, SupervisorAlfred BynoeShane CampbellJason EverettXavier HallEustance JohnsonDemetrius MasonLacroy SingletonDion SloanSean TalleyRonald Townsend

E. William Judson ChairJUDSON REALTY, LLC

Peter N. Armstrong Vice Chair924 REALTY ASSOCIATES, LP

William Friedland TreasurerFRIEDLAND PROPERTIES

Gail Winston SecretaryRICHEMONT NORTH AMERICA

Sarah AlvarezSTRIBLING & ASSOCIATES

Daniel Boulud (Cherif Mbodji, Alternate)CAFÉ BOULUD and BAR PLEIADES

Hon. Gale BrewerMANHATTAN BOROUGH PRESIDENT

Susan Buchbinder(Lori Buchbinder, Alternate)BUCHBINDER AND WARREN REALTY GROUP, LLC

Jordan ClaffeyRFR HOLDING, LLC

David CohenHÔTEL PLAZA ATHÉNÉE

Andrea D’AlessandroGEF DEVELOPMENT CORPORATION

Christina R. DavisCOMMUNITY BOARD 8

Albert DayanTHOR EQUITIES

Hon. Bill de BlasioMAYOR OF THE CITY OF NEW YORK

Pedro DiasTHE SURREY

Greg DinellaTHE CARLYLE

Steven Durels (Elaine Anazagasty & Cryder Bancroft, Alternates)SL GREEN REALTY CORP

Debra FechterDIGBY MANAGEMENT COMPANY, LLC

Jed GarfieldLESLIE J. GARFIELD AND CO., INC

Hon. Daniel GarodnickNYC COUNCILMEMBER

Andrea GaudetCHANEL

Randall Hemming (Leigh Rae Smith, Alternate) DEVI KROELL

Michele Iannello VORNADO REALTY TRUST

Julianne JaffeJJ MARCO

Peter KairisGRAFF

David J. Koeppel35 EAST 75th STREET CORPORATION

Heiko Kuenstle (Amie Buchanan, Alternate)THE LOWELL

Olivier LordonnoisTHE MARK

Ivan Lustig (Andrea Baumann Lustig, Alternate) RESIDENT

Peter MalachiHERMÉS OF PARIS

Maria Giulia MaramottiMAX MARA

Thomas C. MartynJP MORGAN PRIVATE BANK

David NeveloffGREEN-FIELD LLC

Alison Petretti (Morgan Beckwith, Alternate)ARADER GALLERIES

Gerald PozniakJEEVES NEW YORK

Amy Roth (Jane Carey, Alternate)WHITNEY MUSEUM OF AMERICAN ART

Thomas P. Schuler (Katherine Kelly, Alternate)METROPOLITAN MUSEUM OF ART

John SheehanHSBC BANK USA, NA

Hon. Scott StringerCOMPTROLLER OF THE CITY OF NEW YORK

MESSAGE FROMTHE CHAIRMAN& PRESIDENT

E. William JudsonChairman

Matthew A. BauerPresident

THE MADISON AVENUE BUSINESSIMPROVEMENT DISTRICT TURNED 21THIS YEAR. The milestone of turning 21 isaptly associated with youthful energy andinnovation, coupled with maturity anddetermination. With experience cultivatedover two decades of service comes thewisdom that we still have so much more todo. Stewardship of one of the great shoppingstreets of the world is not a fixed objective;indeed as the retail economy continues tochange course, we must make sure that ourAvenue provides the most direct route tosuccess for our member businesses. At age21, we have the strength to build upon theunderstated elegance of our district that isbeloved by our residents and visitors, whileretaining the vigor and optimism required tobuild new partnerships and challengeorthodoxies in the marketplace.

We are thus honored to present you withthis 2017 Annual Report of the MadisonAvenue BID. The volunteers serving on ourBoard of Directors continually examineand renew our programming so that itmeets the changing needs of ourmembership. This year, for example, webuilt upon Madison Avenue’s nexusbetween fashion and art by implementingthree outdoor public art events and creatednew marketing initiatives for the artgalleries within the district. What remainssteadfast is the work of the women andmen that wear the Madison Avenue BIDuniform - our Public Safety Officers and

our Gleam Team. These dedicatedindividuals patrol and maintain our publicspaces in all weather conditions, and areoften the first representatives of theAvenue that visitors meet. We thank and commend them for their service.

Madison Avenue, the largest luxuryshopping district in North America, serves a critical role in the New York Cityeconomy. As a public-private partnership,the Madison Avenue BID works closelywith city government. We wish to take thisopportunity to thank Mayor de Blasio,Comptroller Stringer, Borough PresidentBrewer and Council Member Garodnick for their efforts. The NYC Department ofSmall Business Services offered theirguidance. We also wish to thank theseelected officials and SBS for their supportand passage of legislation increasing themaximum assessment threshold of ourorganization earlier this year. Thepartnership and spirit of cooperationoffered by the NYPD, FDNY and the NYC Departments of Sanitation,Transportation, Parks & Recreation,Finance, Environmental Protection andDesign & Construction have all improvedthe quality of life on Madison Avenue.

Your thoughts and suggestions are alwayswelcome. Please feel free to call the MadisonAvenue BID office at (212) 861-2055 withyour comments or questions, or visit usonline at www.madisonavenuebid.org.

DearFriends,

UNIFORMED PATROLThe public safety officers of the MadisonAvenue BID aid the NYPD in deterringcrime and improving the sense of personalsafety for all who live, visit or work onMadison Avenue. Our uniformed, state-licensed and highly trained officers alsoact as ambassadors for Madison Avenue,providing directions and other assistanceto pedestrians. In the past twelve months,pedestrians on Madison Avenue asked our uniformed personnel 30,371 times for assistance and/or travel directions. The BID’s public safety team have alsobeen aiding the NYPD with the City’sVision Zero plan to combat traffic fatalities and injuries.Our public safety officers patrol from

8:00 AM to 8:30 PM, seven days a week,365 days a year. Each officer is in constantcommunication with the BID’s dispatcher,who can quickly reach the NYPD. Weprovide businesses with decals markedwith our Security Hotline number (212)288-5959, and encourage them to contactus with requests for assistance.

BUS LANE TRAFFIC MITIGATIONThe BID’s plan for mitigating trafficcongestion and double parking on MadisonAvenue between East 57 and East 60Streets was implemented on a trial basis by the NYC Department of Transportation.The plan reduced the commercial vehicleparking maximum time period from threehours to one hour, Monday throughSaturday. Special thanks goes to CouncilMember Daniel Garodnick and his teamfor their leadership and support.

SAFE ROUTES TO SCHOOLS PROJECTThe BID is aiding the NYC Department ofDesign and Construction in mitigating theeffects of its Safe Routes to Schoolsproject, which is creating neck-downs atselect Madison Avenue intersections northof East 79 Street to ease the difficulty ofyoung students (and their parents) crossingbusy Madison Avenue.

PUBLIC SAFETY

The Madison Avenue BID’s Gleam Teamsupplements the services of the NYCDepartment of Sanitation by assistingproperty owners and merchants inmaintaining an environment free of litterand graffiti. Seven days per week, ourprofessional crew sweeps the District'ssidewalks and curbs, lines our trashreceptacles, empties full trash cans, andplaces full liners on the curb for pickupby the NYC Department of Sanitation. In the colder months, the Gleam Teamremoves snow from crosswalks, bus stopsand fire hydrants. Our crew also placespine bark nugget mulch in Avenue tree

wells for beautification and to prevent thegrowth of weeds.In the past year, the Gleam Team

collected approximately 115,700 bags oftrash from Madison Avenue. Also duringthis period, the Gleam Team removedgraffiti, stickers and flyers on over 3,703occasions from the Avenue's buildings and“street furniture,” including lampposts,mailboxes and telephone kiosks. Manyconstituents took advantage of the freepower washing and graffiti removal serviceoffered by the BID, which greatlycontributed to the overall streetscape.

GLEAMTEAM SANITATION SERVICE

P

NYC ASSOCIATION OF HOTEL CONCIERGESThe BID is a corporate member of theNYCAHC. The BID organized three

concierge eventswith our partnersat IN NewYork/Wheremagazines. InAugust, the BIDco-hosted threewalking tours forconcierges of

recently opened boutiques. Nearly fiftyconcierges took part in the tours. InOctober, the BID co-hosted a hotel

concierge mixerfor our retailers atOpera Gallery. InApril, the BIDco-hosted a“Meet theConcierge” paneldiscussion forMadison Avenue

managers at the Roosevelt House PublicPolicy Institute at Hunter College.

FALL ADVERTISINGCAMPAIGN IN IN NEW YORK/WHEREThe BID ran ads in the September andOctober 2016 issues of IN New York

magazine, a leading visitor publication,listing new store openings within thedistrict. The BID also received bonusonline editorial content targeted to thevisitor market.

IPW TRAVEL TRADE SHOWThe BID participated for the first time in theIPW Travel Trade Show (Pow Wow) in Junein Washington, DC. We are also advertisingin the premier tour operators travel tradeguidebook, Shop America Magazine.

MADISON AVENUE GUIDE & MAPIn June, the BID issued the new edition ofthe popular Madison Avenue Map & Guide,which is distributed by hotel concierges and via the BID's information kiosks locatedalong Madison Avenue. Special thanks toHon. Daniel Garodnick & the New York CityCouncil for providing funding to support thepublication of the guide.

NYC & COMPANYThe Madison Avenue BID is a proudmember of NYC & Company, and we arepleased to serve on the organization’s RetailCommittee and take part in thefamiliarization tours that they offer tojournalists from abroad.

TOURISM PROMOTION“Meet the Concierge” Seminar

DIVISOR PUBLIC ART EVENT WITH THE METROPOLITAN MUSEUM OF ART Spectator participation wasn't justencouraged—it was necessary for thisreenactment of Brazilian artist LygiaPape's Divisor (Divider) on the morning ofSaturday, March 25. The Met invited thepublic to join in as they walked Pape'soriginal blank “canvas” in a processionfrom The Met Breuer to The Met FifthAvenue. The BID provided logistical andpublic safety support for the event.

PARTNERSHIP WITHWHITEWALLERMAGAZINEThe BID has entered a partnership withWhitewall and Whitewaller magazines &mobile app to introduce (or reintroduce)what is special and vibrant about MadisonAvenue to their trendsetting & targetedreadership. Special Madison Avenuesections appeared in the issued tied to TheSalon Art + Design event in November, andthe Frieze & TEFAF art shows art in May.

MADISON AVENUE JOB BOARDThe BID maintains an online job postingboard for member businesses to announceemployment opportunities. BID memberscan post available positions free of charge, and the job board, a section ofwww.MadisonAvenueBID.org, is availableto the public.

MANAGERS’ RECEPTIONSLuxury service requires that Madison Avenuestore managers are knowledgeable about theofferings of their neighbors so that they canknowledgeably refer their clients. To that end, the BID organizes monthly receptionsfor store managers. We offer our thanks toExhale Spa, Laduree, LK Bennett, Maje,Morgenthal Frederics, NARS Cosmetics,Nespresso, Park East Pilates, RobertoCavalli, Sphatika, Veronica Beard and Yves Salomon for hosting this year.

SEMINARSThe BID hosted seminars on reaching theChinese visitor market with the SUNYConfucius Institute for Business and onHoliday Safety with the 19th Precinct.

PLATINUM PRIVILEGESEmployees of Madison Avenue businesseswere encouraged to shop locally via ourPlatinum Privileges program. Over onehundred boutiques, restaurants, spas,galleries and medical/dental practicesprovided special offers and opportunities.

SOCIAL MEDIAThe BID posts information on behalf ofMadison Avenue retailers on ourFacebook page and on our Twitter &Instagram feeds. In addition, the BIDmanages the TripAdvisor page forMadison Avenue, and responds to visitorcomments and inquires.

MadisonAvenueBID.orgThe BID’s website was redeveloped to be easily viewed on mobile devices. Thesite includes a full directory of memberretailers, announces new store openings,and features an interactive map. Generalwebsite information is translated intoJapanese, Portuguese, Simplified Chineseand Spanish.

CONSTITUENT SERVICESBID staff continually aid businesses intheir interactions with city governmentagencies and public utilities.

OUTREACH / SOCIAL MEDIA

SPECIAL EVENTS

S E P T EM B E R“THE LANGUAGE OFFASHION” PUBLIC ARTEXHIBITION WITH THESCHOOL OF VISUAL ARTSAs a means of drawing additional attentionto Madison Avenue during New YorkFashion Week, the BID partnered with theSchool of Visual Arts (SVA) and Spirit &Flesh magazine on a public art exhibition onour sidewalks entitled “The Language ofFashion.” The exhibition kicked-off with agala celebration on the evening ofSeptember 8 at 601 Madison Avenue, whichwas graciously supported by Buchbinder &Warren. Curated by Linda Fargo anddesigned by SVA typography students, theexhibition featured fifteen heroic-sizedsilhouette sculptures of fashion inspired bythe art of typography. Press coverage for theproject was extensive, including features onWABC-TV, and in New York, Manhattan andArchitectural Digest magazines.

O C T O B E R OPENING DAY OF KERRY JAMESMARSHALL: MASTRY; AN ART & STYLE CELEBRATION ON MADISON AVENUEOn October 25, in celebration of theopening of the groundbreaking Kerry JamesMarshall: Mastry retrospective at The MetBreuer, eleven retailers located nearby themuseum on Madison Avenue between East72 and East 77 Streets hosted a day andevening of designer appearances and in-store celebrations. The Met promoted theevent within the lobby of the museum, onits website, and within an e-newsletter sentto museum members. The online news siteDNAinfo served as the event’s mediasponsor, and promoted it on their websiteand in e-newsletters sent to Upper EastSide subscribers. The BID created an e-vitethat was used by the stores to inform theirclients about the event, and produced anddistributed a postcard describing in-storehappenings that day.

N O V EM B E R MADISON AVENUE ICONS PROGRAM2016 marked the 20th anniversary of thefounding of the Madison Avenue BID. Tocelebrate this occasion, Avenuemagazine andour members saluted twenty “Madison AvenueIcons” whose philanthropic efforts havehelped to strengthen our community. FiveMadison Avenue retailers honored an Icon byeach respectively hosting an in-store receptionand selling event, with a portion of the salesdonated to their respective Icon’s favoritecharity. Icons included: Amy Fine Collins,Consuelo Vanderbilt Costin, Prince Dimitri ofYugoslavia, Mark Gilbertson, Nina Griscom,Cornelia Guest, Yaz Hernandez, KamieLightburn, Paola Bacchini Rosenshein, KellyRutherford and Tracy Stern. On November 15,Avenue and The Kent/Extell hosted a receptionhonoring the Icons and celebrating theanniversary of the Madison Avenue BID.

D E C EM B E RMIRACLE ON MADISON AVENUEMiracle on Madison Avenue, New York’scherished holiday shopping tradition,celebrated its 30th Anniversary this yearon Saturday, December 3. For threedecades, Miracle on Madison Avenue hasbeen benefiting children in need, and forthe past five years, has benefited thepediatric programs of The Society ofMemorial Sloan Kettering Cancer Center.In addition to holiday shopping at 90

participating businesses, there were avariety of new programs initiated to delightchildren and families. There were twoMiracle on Madison stages, featuringchildren’s and holiday-themedentertainment. Performers included castmembers from Broadway's Aladdin andCats, the NYC Gay Men's Chorus, and thePipes of Christmas. Meet-and-greets withMSK’s Caring Canines were scheduled at

both stages.We alsopresented two teams of period-dressedholidaycarolers toextend the

spirit of the season along Madison Avenue.The Taste of Madison Avenue Tent,

sponsored by BMW of Manhattan, offeredculinary treats by the chefs of MadisonAvenue, all to benefit The Society of MSK.The Marunouchi District of Tokyo, oursister street in Japan, provided additionaland significant support for the event.BMW of Manhattan also provided a

complimentary shopping shuttle for eventguests. Gotham served as our mediasponsor, and produced a special section inthe magazine highlighting the event.Overall, Miracle generated over 4 millionprint, online and social media impressions.

J A N UA RY MADISON STREET TO MADISON AVENUELUNAR NEW YEARCELEBRATIONThe Madison Avenue BID, in partnershipwith the Chinatown Partnership, the EastMidtown Partnership, the Grand CentralPartnership, and SUNY’s ConfuciusInstitute for Business, welcomed the Year ofthe Rooster as we presented the secondannual Lunar New Year Celebration:“Madison Street to Madison Avenue,” onSunday, January 29. Two Lion Dancetroupes performed and visited over 30participating retailers. Shoppers weretreated to tea and fine spirits, temptingdelicacies, sales incentives, speciallydesigned “red envelopes” with surprises,gifts with purchase and more. At MadisonAvenue and East 54 Street were kid-

friendlyactivitiessuch ascalligraphy,lantern-making andface

painting, as well as musical and acrobaticperformances. As last year, the eventreceived terrific press coverage, includingfeatures on Fox 5’s Good Day New York,Weekend Today in New York on Channel 4,and the WCBS New York Morning News. TheNew York Times, Time Out New York, TheWorld Journal, The China Press, ChinaDaily and Sinovision also covered the event.Retailer offers were promoted to Chinesestudent groups in NYC, and to the popularChinese-language shopping site Dealmoon.The event received over 500,000 page viewsvia Chinese social media.

A P R I L MADISON AVENUEGALLERY WALKOn April 29, the Saturday preceding theTEFAF, Art New York and Frieze NewYork fairs, the Madison Avenue GalleryWalk provided visitors with the time andspace to visit 54 participating BIDgalleries. The Madison Avenue GalleryWalk was free and open to the public,with programming taking place from

10am through the evening. Our mediasponsor for the event was ARTnews.Throughout the day, curators atparticipating galleries presented over 70Gallery Talks and special eveningreceptions that featured curator or artistdiscussions about their respectiveexhibitions, with online registrationutilized to capture contact information. Theevent also served as the launch point forthe first print edition of the MadisonAvenue Gallery Map, an item frequentlyrequested by galleries within ourcommunity. Our event website,www.madisonavenuegallerywalk.com, wasdesigned by ARTnews’s digital team. Over800 event attendees pre-registered forgallery talks via the website. To promotethe event, the BID ran ads in The New YorkTimes. In addition, we received full-pageads in ARTnews and Art in America, anddaily electronic ads in the morning andevening e-newsletters created by ARTnews.Lamp pole banners, also designed by themagazine, were hung throughout MadisonAvenue. In addition, participating gallerieswere provided with an e-invitationtemplate that they used to invite their ownguest lists to the event.

M AY MADISON AVENUEWATCH WEEK13 retailers participated in our 7th AnnualMadison Avenue Watch Week, taking placeMay 8 to 13. Collectors and connoisseurshad the opportunity to become immersed inthe artistry and craftsmanship of exceptionaltimepieces, many on view for the first timein America. The event website,www.madisonavenuewatchweek.com, wascreated by our media partner, The WallStreet Journal.The BIDpartnered with theHorologicalAssociation ofNew York on awalking tour ofparticipatingretailers. New thisyear was theBID’s partnershipwith the School ofVisual Arts tocreate a public artexhibition alongthe sidewalks ofMadison Avenuetitled “A Momentin Time.” The design students, under thementorship and supervision of ArtDirector’s Hall of Fame member KevinO’Callaghan, created monumental six-foottall, watch-themed sculptures.

M AY ROBIN HOOD ONMADISON AVENUEOver forty Madison Avenue businessesparticipated in our highly-targetedfundraising and shopping event with RobinHood Foundation, New York City’s largestpoverty-fighting organization.

HOLIDAY DECORATIONS To mark the30th Anniversary of Miracle on Madison,we developed a new holiday lightingtheme that featured custom-designed“snowflakes” suspended within nineMadison Avenue intersections. Inaddition, we reprised our popular streettree holiday lighting program, wherebyretailers contributed to light the trees infront of their respective shops.

STREET TREE WELL IMPROVEMENTPROGRAM Launched last year, over twodozen tree wells are now being plantedand maintained through the BID’s StreetTree Well Improvement Program.Participating businesses and propertyowners have contracted with the BID toplant and maintain Dragon Wing Begoniasin the summer; White Kale in the fall;Pansies & Violas in the spring; and tomulch tree wells in the winter months.

NEWSPAPER RACKS The BIDmaintained its award-winning modularnewspaper racks. A variety of newpublications joined the program this year,and neighborhood information bins wereinstalled in selected units.

BEAUTIFICATIONNew Madison Avenue snowflake holiday decorations

Tree Well Improvement Program

“A Moment in Time” exhibition by SVA students for Madison Avenue Watch Week

INDEPENDENT AUDlTORS’ REPORT

To: The Board of Directors of 60-86 Madison Avenue District Management Association, Inc.

We have audited the accompanying financial statements of 60-86 Madison Avenue District Management Association, Inc.(a nonprofit organization), which comprise the statements of financial position as of June 30, 2016 and 2015, and therelated statements of activities and cash flows for the years then ended, and the related notes to the financial statements.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements in accordance withaccounting principles generally accepted in the United States of America; this includes the design, implementation, andmaintenance of internal control relevant to the preparation and fair presentation of financial statements that are free frommaterial misstatement, whether due to fraud or error.

Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits inaccordance with auditing standards generally accepted in the United States of America. Those standards require that we planand perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of materialmisstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditorconsiders internal control relevant to the entity’s preparation and fair presentation of the financial statements in orderto design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinionon the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimatesmade by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

OpinionIn our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of 60-86Madison Avenue District Management Association, Inc. as of June 30, 2016 and 2015, and the changes in its net assets and itscash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

New York, NYDecember 8, 2016

The Board of Directors hascontinued its practice of

conservative fiscal management. The BID’s Finance Committee meetsquarterly to review activities and expenses, provide oversight and plan our fiscal strategy to ensure that the BID meets its operational goals andobjectives. The BID’s Audit Committee reviews and selects an independentauditor for the Corporation; reviews with the independent auditor the scopeand planning of the audit prior to its commencement; and, upon completion of the audit, reviews and discusses with the independent auditor any materialrisk and weaknesses in internal controls identified by the auditor, anyrestrictions placed on the auditor’s activities or access to information; any significant disagreements between the auditor and the Corporation’smanagement; and the adequacy of the Corporation’s accounting and financialreporting processes. The Audit Committee also annually considers theperformance and independence of the auditor; reviews the financial controlsdeveloped and implemented by the President and other employees of theCorporation, and receives and makes recommendations to the Board regardingconflicts of interest reported pursuant to the Corporation’s conflict of interestpolicy. The NYC Department of Small Business Services sets standards for our fiscal management procedures. If you would like a complete copy of theBID’s audited financial statements, or additional information on procurementpolicies and current contracts, please feel free to contact the BID office. The BID maintains a registered membership list of 141 members.

Skody Scot & Company, CPAs, P.C.520 Eighth Avenue, Suite 2200, New York, NY 10018 (T) 212-967-1100 • (F) 212-967-2002 www.skodyscot.com

FISCAL REPORT

William Friedland Treasurer & Finance Committee Chair

Debra Fechter Audit Committee Chair

2016 2015

ASSETSCash $775,949 $788,616Program revenue receivable 12,902 13,580Property and equipment, net 18,020 _

Prepaid expenses and other assets 52,223 49,089

Total assets $859,094 $851,285

LIAbILITIES AND NET ASSETSLiabilities:

Accrued expenses $257,150 $237,889

Total liabilities 257,150 237,889

Net Assets:Unrestricted 601,944 613,396Temporarily restricted _ _

Permanently restricted _ _

Total net assets 601,944 613,396

Total liabilities and net assets $859,094 $851,285

STATEMENTS OF FINANCIAL POSITION June 30, 2016 and 2015

STATEMENTS OF ACTIVITIESJune 30, 2016 and 2015

Support and Revenues:Unrestricted:

Assessment revenue 1,757,000 1,757,000Contributions in-kind 304,500 325,000Contributions 2,401 2,875Program service revenue 137,967 89,610Interest Income 933 1,435

Total support and revenues 2,202,801 2,175,920

Expenses:Program Expenses:

Marketing and promotion 670,537 639,198Security 707,035 681,971Sanitation 431,990 424,033Community services 14,623 14,766Public improvements 86,734 98,201

Total program expenses 1,910,919 1,858,169

Management and general 291,112 277,801Fundraising 12,222 11,889

Total expenses 2,214,253 2,147,859

Increase/(Decrease) in Net Assets:Unrestricted (11,452) 28,061Temporarily restricted _ _

Permanently restricted _ _

Increase/(decrease) in net assets (11,452) 28,061

Net assets, beginning of year 613,396 585,335

Net assets, end of year 601,944 613,396

BUDGET OF THE MADISON AVENUE BID, FISCAL YEAR 2018Approved by the Board of Directors on May 3, 2017

Administration/ Capital FY2017Development Security Sanitation Promotion Improve. Total budget

REVENUE:Assessment Revenue _ _ _ _ _ 1,757,000 1,757,000Interest Income _ _ _ _ _ 800 800In-Kind Promotions Contributions _ _ _ _ _ 250,000 250,000Program Contributions _ _ _ _ _ _ _

Program Service Revenue _ _ _ _ _ 112,600 127,700Community Service Contributions _ _ _ _ _ 2,500 3,000

TOTAL REVENUE _ _ _ _ _ 2,122,900 2,138, 500

EXPENSES:PROGRAM EXPENSES:

Total Personnel Costs 131,230 685,663 466,593 149,044 36,362 1,468,892 1,407,816

Direct CostsProgram Equipment _ 5,000 _ _ _ 5,000 5,000Program Supplies _ 27,500 _ 17,500 _ 45,000 45,500Program Expenses _ _ _ 46,500 _ 46,500 46,500Legal Expenses _ 2,000 _ 2,000 _ 4,000 7,000Newsbox Maintenance Expenses _ _ _ _ 27,800 27,800 32,000Newsbox Publisher Relations _ _ _ _ 7,800 7,800 7,800Treewell Improvement Program _ _ _ _ 27,500 27,500 33,600Holiday Decorations _ _ _ 70,400 _ 70,400 59,090In-Kind Expenses _ _ _ 250,000 _ 250,000 250,000Community Service _ _ _ 2,500 _ 2,500 3,000Liability Insurance _ 31,038 _ _ _ 31,038 29,736

Total Direct Costs _ 65,538 _ 388,900 63,100 517,538 519,226

TOTAL PROGRAM EXPENSES 131,230 751,201 466,593 537,944 99,462 1,986,430 1,927,042

GENERAL OPERATING:Rent and Utilities _ _ _ _ _ 74,840 211,350Messengers and Postage _ _ _ _ _ 2,500 2,500Office Supplies _ _ _ _ _ 8,000 7,200Office Expense _ _ _ _ _ 9,000 9,000Office Development Expenses _ _ _ _ _ 103,550 225,000Office Equipment/Depreciation _ _ _ _ _ 5,500 5,000Telephone _ _ _ _ _ 8,800 8,800Insurance _ _ _ _ _ 5,750 5,750Interest _ _ _ _ _ 50 50Maintenance _ _ _ _ _ 2,600 2,600Professional Fees _ _ _ _ _ 30,000 25,000Printing _ _ _ _ _ 5,500 5,500Meeting Expenses, Travel & Conferences _ _ _ _ _ 5,500 5,500

TOTAL GENERAL OPERATING _ _ _ _ _ $261,590 $513,250

Expense Contingency _ 2,000 1,000 1,000 1,000 5,000 5,000

TOTAL EXPENSES 131,230 753,201 467,593 538,944 100,462 2,253,020 2,445,292

EXCESS REVENUE OVER EXPENSES _ _ _ _ _ (130,120) (248,416)

OPENPAGE

The BID operates a Public Safety and Sanitation Hotline for its members. 8:00AM to 8:30PM. Seven days a week. 365 days a year.Help is never more than a phone call away. (212) 288-5959

Madison Avenue BID 59 East 79th Street, Lower LevelNewYork, NY 10075 Phone (212) 861-2055 Fax (212) 861-7838www.madisonavenuebid.org

IN APRIL 1996, the Madison Avenue Business Improvement District (“BID”) was formedthrough a partnership of property owners, merchants, residents and elected officials, whojoined together with the fundamental goal of enhancing the quality of life for the communityand its visitors. The BID is managed by the 60-86 Madison Avenue District ManagementAssociation (“DMA”) Inc., a not-for-profit corporation under contract with the City of NewYork to supplement services to the community.

The DMA is supported by revenue generated from assessments to local property owners. The BIDfocuses on public safety, sanitation, promotion of and advocacy for the district - striving to makeMadison Avenue a more attractive and dynamic place in which to shop, live, work and visit.

The BID extends from East 57th Street to East 86th Street on Madison Avenue and alsoencompasses the commercial areas of its adjacent side streets. The district is comprised ofapproximately 250 buildings, 500 cooperatives and condominium units and over 800 businesses,and includes some of the world’s most celebrated boutiques, restaurants, hotels and residences.

DESIGN: Kenny Funk /coffeecupdesign.com PHOTOS: Cover, Andrew Werner; Madison Street to Madison Avenue: East Midtown Partnership; Madison Avenue Watch Week: Stephanie Mann for Andrew Werner Photography and Madison Avenue BID Concierge:Where IN New York