The Central Park Conservancy is embarking on a big fundraising campaign: The nonprofit is seeking $300 million for the care and upkeep of Manhattan’s largest park.
The Central Park Conservancy receives only about a quarter of its funding from taxpayers, leaving the other 75 percent to be funded by private donations. Even with a yearly budget of $65 million, many necessary repairs are now long overdue. Its crews must maintain a 693 acres of parkland filled with 20,000 trees.
The program is called “Forever Green: Ensuring the Future of Central Park,” and the money it raises will go towards improvements like replacing the pipes in the Conservatory Garden fountain, a new facade for the Naumburg Bandshell, and the restoration of Belvedere Castle. It also seeks to restore Frederick Law Olmsted and Calvert Vaux’s original vision for the space, and will focus on on historic features like The Ramble and the North Woods.
While upkeep is costly, the Conservancy claims they help generate over $1 billion in economic activity yearly. The park now gets 42 million visitors, compared to 12 million a few decades ago. That booming number of guests has been hard on the park’s infrastructure. Luckily the conservation effort has no lack of donations from residents who have benefited from having the park in their backyard, including $100 million from hedge fund manager John A. Paulson and $25 million from the Thompson Family Foundation.
The fundraising effort, having raised $112 million so far, is already more than a third complete.