Its influence earned Central Park the designations of National Historic Landmark in 1963 and of New York City scenic landmark in 1974. Central Park is owned by the New York City Department of Parks and Recreation but has been managed by the Central Park Conservancy since 1998, under a contract with the municipal government in a public–private partnership. The Conservancy, a non-profit organization, contributes 75% of Central Park's $65 million annual budget and is responsible for all basic care of the park.