2024-05-15T08:47:37-05:00 2023-06-30 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2022-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 RUSSELL GRANET PRESIDENT 6462233000 2024-05-15 1 RUSSELL GRANET XXX-XX-XXXX 0 FREDERICK MARTENS P00298107 2126972299 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RUSSELL GRANET 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 27257148 0 X WWW.NEW42.ORG X 1988 NY THE NEW 42ND STREET, INC. CONNECTS KIDS AND THEIR FAMILIES ACROSS NYC TO WORLD-CLASS PERFORMANCES, ESSENTIAL EDUCATION PROGRAMS AND CREATIVE COMMUNITIES THAT PUSH CULTURE FORWARD. THROUGH THE NONPROFIT'S SIGNATURE PROJECTS, NEW VICTORY AND NEW 42 STUDIOS, NEW 42 PURSUES ITS MISSION TO MAKE EXTRAORDINARY PERFORMING ARTS A VITAL PART OF EVERYONE'S LIFE, FROM THE EARLIEST YEARS ONWARD. THE ORGANIZATION ALSO STEWARDS SEVEN HISTORIC THEATER PROPERTIES ON 42ND STREET, ENSURING THE LEGACY AND VITALITY OF AMERICA'S MOST ICONIC THEATER DISTRICT. 28 27 349 27 0 0 13054257 6792672 10954292 16587322 2605 103684 73433 92884 24084587 23576562 0 0 0 0 11001824 11995046 0 0 1477360 8339242 9049650 19341066 21044696 4743521 2531866 49391490 52293407 5818171 6038670 43573319 46254737 X SEE SCHEDULE O 0 0 16398731 16587322 THE NEW VICTORY THEATER'S FIRST FULL-SEASON OF LIVE PERFORMANCES SINCE THE COVID-19 PANDEMIC BEGAN OPENED ON OCTOBER 14, 2022, WITH AUDIENCES AND STAFF THRILLED TO BE BACK AT THE HISTORIC NEW VICTORY THEATER. THE 2022-23 NEW VICTORY SEASON FEATURED NINE PRODUCTIONS FROM FIVE COUNTRIES, REPRESENTING A WIDE RANGE OF CULTURAL PERSPECTIVES. THE SEASON INCLUDED VARIOUS ARTISTIC DISCIPLINES, INCLUDING MODERN TAKES ON CLASSIC THEATER PIECES, PERCUSSION, CIRCUS, PUPPETRY, PANTOMIME, MUSICAL THEATER, AND THE RETURN OF THEATER MADE SPECIFICALLY FOR TODDLERS AND BABIES. SEVERAL WORKS ENGAGED PATRONS IN STORIES OF HOPE, EMPOWERMENT, AND THE IMPORTANCE OF FINDING YOUR VOICE, ALLOWING STUDENTS, KIDS, AND FAMILIES TO DISCOVER THE JOYOUS EXPERIENCE AND IMPACT OF THE PERFORMING ARTS. (CONTINUED ON SCHEDULE O)IN TOTAL, THE THEATER WELCOMED 40,180 KIDS AND FAMILIES INTO THE HISTORIC NEW VICTORY THEATER TO 126 PUBLIC SHOWS IN THE 2022-23 SEASON.IN ADDITION TO OFFERING A WONDERFUL SEASON OF LIVE SHOWS, THE NEW VICTORY WAS THRILLED TO SHARE THE 2022-23 SEASON DIGITALLY THROUGH RECORDED PERFORMANCES AVAILABLE TO STREAM VIA THE THEATER'S WEBSITE. AS AUDIENCES SLOWLY RETURNED TO LIVE ENTERTAINMENT, OUR DIGITAL PRESENTATIONS ALLOWED OUR WORK TO REMAIN ACCESSIBLE TO THOSE WHO COULD NOT VISIT THE THEATER IN-PERSON. FIVE OF THE NINE SHOWS WERE AVAILABLE TO HOUSEHOLDS AND EDUCATION PARTNERS TO STREAM, GARNERING JUST OVER 200 VIEWS FROM FAMILIES AS FAR AWAY AS SINGAPORE AND AUSTRALIA. DURING THE 2022-23 SEASON, NEW 42 CONTINUED TO CENTER ACCESSIBLE PERFORMING ARTS PROGRAMS FOR ALL, DEVELOPING 11 NEW EPISODES OF OUR POPULAR ONLINE PERFORMING ARTS SERIES, NEW VICTORY ARTS BREAK, SHARED WITH PUBLIC AUDIENCES AND CLASSROOMS FOR A TOTAL OF 53,000 VIEWS. IN THE 2022-23 SEASON, NEW VICTORY EDUCATION PARTNERED WITH 138 SCHOOLS FROM ACROSS NEW YORK CITY, PROVIDING 14,934 PRE-K THROUGH 12TH GRADE STUDENTS AND THEIR CHAPERONES WITH ACCESS TO 29 WEEKDAY EDUCATIONAL MATINEES HELD THROUGHOUT THE SEASON AT A DISCOUNTED RATE OF $2 A TICKET. IN ADDITION, THE EDUCATION PROGRAM CONDUCTED 706 FREE, IN-PERSON CLASSROOM WORKSHOPS LED BY TWO-MEMBER TEAMS OF NEW VICTORY TEACHING ARTISTS, AND A SERIES OF CULTURALLY-RESPONSIVE, EARLY CHILDHOOD ARTS EDUCATION RESOURCE GUIDES TO PROMOTE ARTISTIC INQUIRY AND CREATIVITY WITHIN CURRICULUM WHILE PROVIDING TEACHERS WITH PROFESSIONAL DEVELOPMENT OPPORTUNITIES. FIVE OF THE NINE LIVE PRESENTATIONS WERE AVAILABLE FOR SCHOOLS TO STREAM FROM THEIR CLASSROOM, PROVIDING OPPORTUNITIES FOR STUDENTS UNABLE TO MAKE THE TRIP TO VISIT OUR HISTORIC THEATER. IN SUMMER 2022, NEW VICTORY DANCE WELCOMED AUDIENCES BACK FOR LIVE PRESENTATIONS FEATURING EIGHT TALENTED ARTISTS AND DANCE COMPANIES BASED IN NEW YORK CITY. EACH PRESENTATION WAS COMPLETE WITH INTERSTITIALS LED BY NEW VICTORY TEACHING ARTISTS THAT ENCOURAGED VIEWERS TO GET UP AND MOVE. NEW VICTORY DANCE PARTNERED WITH 40+ SCHOOLS, SUMMER CAMPS, AND OTHER CHILD EDUCATION PROGRAMS TO SHARE THE BEAUTY OF DANCE WITH 739 STUDENTS. DURING THE 2022-23 SEASON, THE NEW 42 YOUTH CORPS PROGRAM SERVED A TOTAL OF 54 YOUNG NEW YORKERS AGED 16+ THROUGH 14,200 HOURS OF PAID EMPLOYMENT, JOB TRAINING AND MENTORSHIP. THE THREE BRANCHES OF THE NEW 42 YOUTH CORPS INCLUDE THE NEW VICTORY USHERS, THE COLLEGE CORPS USHERS AND THE NEW 42 FELLOWS. NEW VICTORY LABWORKS IS AN ARTIST RESIDENCY PROGRAM SUPPORTING ARTISTS WHO IDENTIFY AS BLACK, INDIGENOUS, PEOPLE OF COLOR, IN THEIR CREATIVE PROCESS AND PROFESSIONAL DEVELOPMENT AS THEY PUSH THE BOUNDARIES OF WHAT CAN BE INCLUDED IN THE CANON OF THEATER FOR YOUNG AUDIENCES. IN FY23, NEW VICTORY LABWORKS SUPPORTED A COHORT OF SIX ARTISTS EXCITED TO CREATE ART FOR CHILDREN AND FAMILY AUDIENCES. ARTISTS RECEIVED A SUBSTANTIAL FEE, REHEARSAL SPACE, RESOURCES, DRAMATURGICAL FEEDBACK AND PROFESSIONAL DEVELOPMENT RESOURCES. THE 2022-23 LABWORKS COHORT ARTISTS SHOWCASED AN ARRAY OF ARTISTIC DISCIPLINES, INCLUDING MUSICAL THEATER, PLAYWRITING, PUPPETRY AND MORE. IN ITS FIRST FULL YEAR, THE BRING YOUR FAMILY TO THE NEW VICTORY PROGRAM, IN PARTNERSHIP WITH THE NEW YORK CITY HOUSING AUTHORITY ("NYCHA"), SUCCESSFULLY OFFERED 1,007 COMPLIMENTARY TICKETS NEW VICTORY PRESENTATIONS TO 228 DISTINCT NYCHA HOUSEHOLDS CITYWIDE. TO EXPAND ENGAGEMENT, WE HAVE WORKED WITH THE HIGH LINE AND POLO GROUNDS TO BRING ARTS ACTIVITIES TO PUBLIC SITES AND HAVE SENT NEW VICTORY EDUCATION STAFF TO SELECT NYCHA HOUSING SITES TO BRING FREE, FAMILY-FRIENDLY ARTS ACTIVITIES TO NEW YORKERS RIGHT WHERE THEY LIVE AND PLAY.THE 10-STORY NEW 42ND STREET STUDIOS BUILDING COMPRISES 14 STATE-OF-THE-ART REHEARSAL STUDIOS, THE DUKE ON 42ND STREET BLACK BOX THEATER, AND THE ADMINISTRATIVE OFFICE SPACES FOR NEW 42 AND THEATER FOR YOUNG AUDIENCES ("TYA/USA"). REFERRED TO BY THE NEW YORK TIMES AS "BROADWAY'S SECRET LABORATORY", THE STUDIOS BUILDING PLAYS A VITAL ROLE IN THE PERFORMING ARTS COMMUNITY, SERVING 14,000 ARTISTS ANNUALLY FROM NOT-FOR-PROFIT ORGANIZATIONS AND REGIONAL PRODUCTIONS TO COMMERCIAL BROADWAY, OFF-BROADWAY, AND TOURING PRODUCTIONS. TO DATE, THE STUDIOS HAVE HOUSED 1000 NONPROFIT AND COMMERCIAL COMPANIES, INCLUDING 820 BROADWAY PLAYS AND MUSICALS SUCH AS LEOPOLDSTADT, THE PIANO LESSON, INTO THE WOODS AND MORE. AS LANDLORD TO COMMERCIAL AND NONPROFIT CULTURAL INSTITUTIONS SUB-LEASING FIVE HISTORIC PROPERTIES ON 42ND STREET, NEW 42 CONTINUED TO WORK HAND-IN-HAND WITH ITS TENANTS AS WE SLOWLY RETURN TO PRE-PANDEMIC LEVELS OF ENGAGEMENT TO COLLECTIVELY BUILD TOWARDS THE REVITALIZATION OF TIMES SQUARE, NEW YORK CITY, AND THE PERFORMING ARTS INDUSTRY. 16398731 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 78 0 1 349 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X MICHELE PAGNOTTA VICE PRESIDENT FINANCE 6462233000 229 WEST 42ND STREET NEW YORK NY 100367299 FIONA HOWE RUDIN CHAIR 1.00 X X 0 0 0 SHAHARA AHMAD-LLEWELLYN CO-VICE CHAIR 1.00 X X 0 0 0 MARC A SPILKER CO-VICE CHAIR 1.00 X X 0 0 0 TIFFANY GARDNER VICE CHAIR 1.00 X X 0 0 0 ANDREW SOMMERS TREASURER 1.00 X X 0 0 0 STEFANIE KATZ ROTHMAN SECRETARY 1.00 X X 0 0 0 YEMI BENEDICT-VATEL DIRECTOR 1.00 X 0 0 0 HERMAN A BERLINER DIRECTOR 1.00 X 0 0 0 LYNNE BIGGAR 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4755 2349 805 2605 103420 113934 117332 91601 99869 73433 92884 475119 36043577 65919819 0.93100 0.92990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 120000 120000 20924696 21044696 1000000 250000 0 0 1000000 861677 1000000 1000000 3861677 5792516 108150 120400 120000 120000 468550 250000 250000 250000 250000 1000000 1500000 PART II-A, LINE 1 AND 2, LOBBYING ACTIVITIES: THE ORGANIZATION ENGAGED A LOBBYIST TO REPRESENT THE ORGANIZATION BEFORE THE EXECUTIVE AND LEGISLATIVE GOVERNMENT BRANCHES OF BOTH THE STATE AND THE CITY OF NEW YORK TO SECURE FUNDING FOR THE ORGANIZATION'S CAPITAL AND PROGRAMMATIC NEEDS. 34913893 19988778 14925115 25656135 11429622 14226513 4346415 3750535 595880 2354781 1963867 390914 30138422 ACCRUED SUBLEASE INCOME 4127920 4127920 SECURITY DEPOSITS HELD 316881 316881 23711261 149552 149552 23561709 14853 14853 23576562 21029843 0 21029843 14853 14853 21044696 GALA BENEFIT 1211430 1083101 128329 128329 1211430 1083101 128329 128329 128329 0 X X X X X X 0 1 0 0 0 0 0 0 0 RUSSELL GRANET PRESIDENT 564450 0 0 0 0 0 16369 0 18754 0 599573 0 0 0 CORA CAHAN FORMER PRESIDENT 196021 0 0 0 0 0 0 0 0 0 196021 0 120417 0 LISA POST CHIEF OPERATING OFFICER (THROUGH 10/ 261547 0 0 0 0 0 12921 0 7766 0 282234 0 0 0 MICHELE PAGNOTTA VICE PRESIDENT, FINANCE 192850 0 0 0 0 0 2466 0 0 0 195316 0 0 0 ELIZABETH CASHOUR VICE PRESIDENT,DEVELOPMENT 202296 0 0 0 0 0 9957 0 5574 0 217827 0 0 0 MARY ROSE DIRECTOR OF ARTISTIC PROGRAMMING 227670 0 0 0 0 0 11203 0 5574 0 244447 0 0 0 LINDSEY BULLER MALIEKEL VP OF EDUCATION & PUBLIC ENGAGEMENT 151545 0 0 0 0 0 7468 0 10685 0 169698 0 0 0 COURTNEY BODDIE VP OF EDUCATION & SCHOOL ENGAGEMENT 151528 0 0 0 0 0 7467 0 10685 0 169680 0 0 0 TAYLOR VINCENT DIR IT,CYBER SEC. & INFRASTRUCTURE 144538 0 0 0 0 0 4295 0 14902 0 163735 0 0 0 PART1, LINE 4B: RUSSELL GRANET-DEFERRED COMPENSATION UNDER SUPPLEMENTAL NONQUALIFIED PLAN - $20,500 X 2 28164 QUOTED MARKET VALUE 0 0 1 0 FORM 990 PART III LINE 1, DESCRIPTION OF THE ORGANIZATION'S MISSION THE NEW 42ND STREET, INC. WAS ESTABLISHED IN 1990 BY NEW YORK CITY AND STATE AS A NON-PROFIT ORGANIZATION, AND WAS ENTRUSTED WITH 99-YEAR LEASES OF SEVEN HISTORIC THEATERS AND TWO INFILL PROPERTIES ON 42ND STREET BETWEEN 7TH AND 8TH AVENUES IN NEW YORK CITY. GUIDED BY THE OVERALL PUBLIC GOAL OF RETURNING 42ND STREET TO ITS FORMER STATUS AS A LIVELY CULTURAL AND ENTERTAINMENT DESTINATION, THE NEW 42ND STREET, INC. OPERATES PROGRAMMING OUT OF TWO BUILDINGS UNDER ITS STEWARDSHIP: THE NEW VICTORY THEATER AND THE NEW 42ND STREET STUDIOS. THE NEW VICTORY THEATER IS NEW YORK CITY'S PREMIER THEATER FOR KIDS AND FAMILIES, WHICH PROVIDES SUBSTANTIAL EDUCATION, YOUTH DEVELOPMENT, AND NEW WORK DEVELOPMENT PROGRAMS TO THE COMMUNITY EACH YEAR. THE NEW 42ND STREET STUDIOS, COMPRISES A STATE-OF-THE-ART, 10-STORY REHEARSAL STUDIO FACILITY, AS WELL AS THE 199-SEAT BLACK BOX THEATER, THE DUKE ON 42ND STREET. THE NEW 42ND STREET HAS STRATEGICALLY SUBLEASED ITS REMAINING PROPERTIES TO ENSURE THE ONGOING VIBRANCY OF 42ND STREET'S HISTORIC THEATERS. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 IS REVIEWED BY THE PRESIDENT, VP OF FINANCE AND CONTROLLER. FORM 990 IS PROVIDED TO THE EXECUTIVE COMMITTEE, AUDIT & FINANCE COMMITTEE, AND FULL BOARD PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE DISCLOSED ANNUALLY BY THE MEMBERS OF THE BOARD OF DIRECTORS. THESE DISCLOSURES ARE EVALUATED BY THE AUDIT AND FINANCE COMMITTEE, WHICH MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MAY RATIFY A RECOMMENDATION OR THEY MAY REJECT IT, IN WHICH CASE THE PRESIDENT OR THE CHAIRMAN OF THE BOARD MAY BRING THE MATTER TO THE FULL BOARD OF DIRECTORS FOR THEIR DECISION. FORM 990, PART VI, SECTION B, LINE 15A A COMPENSATION SUBCOMMITTEE OF THE EXECUTIVE COMMITTEE HIRES AN INDEPENDENT FIRM TO PERFORM ANALYSIS OF THE PRESIDENT'S COMPENSATION PACKAGE BASED ON GEOGRAPHICAL AND INDUSTRY COMPARABILITY DATA. THE OBJECTIVE IS TO ENCOURAGE TENURE, MOTIVATE THE ACHIEVEMENT OF SHORT AND LONG-TERM GOALS AND PROVIDE A PACKAGE COMPARABLE WITH INDUSTRY STANDARDS. AN ANALYSIS REPORT OF FINDINGS AND RECOMMENDATIONS IS PRESENTED TO THE SUBCOMMITTEE, WHICH HAS RESPONSIBILITY FOR NEGOTIATING AND SETTING THE PROPOSED SALARY SCHEDULE FOR MULTI-YEAR CONTRACT RENEWAL AND THEN RECOMMENDING A PACKAGE TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE CONTRACT IS REVIEWED BY LEGAL COUNSEL. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST.