2025-05-05T14:08:49-05:00 2024-06-30 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2023-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 RUSSELL GRANET PRESIDENT 6462233000 2025-05-15 1 0 FREDERICK MARTENS P00298107 2126972299 2023 2025-03-06 01:10:19Z RUSSELL GRANET 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 32827741 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. 31 30 349 30 0 0 6792672 12016630 16587322 15656780 103684 334526 92884 25735 23576562 28033671 0 0 0 0 11995046 13783352 0 0 1517567 9049650 9578343 21044696 23361695 2531866 4671976 52293407 57751397 6038670 5841052 46254737 51910345 X SEE SCHEDULE O. 0 0 17967309 15656780 THE NEW 42ND STREET, INC. (D/B/A NEW 42) IS A LEADING PERFORMING ARTS NONPROFIT WHOSE MISSION IS TO MAKE EXTRAORDINARY PERFORMING ARTS A VITAL PART OF EVERYONE'S LIFE FROM THE EARLIEST YEARS ONWARD. THROUGH THE NEW 42'S SIGNATURE PROJECTS, THE NEW VICTORY THEATER AND THE NEW 42ND STREET STUDIOS, THE ORGANIZATION CATALYZES THE POWER OF THE PERFORMING ARTS TO CHALLENGE, CHANGE AND CONNECT US ALL. 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 EACH YEAR. THE NEW 42 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. (CON'D ON SCH O)THE ORGANIZATION ALSO STEWARDS SEVEN HISTORIC THEATER PROPERTIES ON 42ND STREET, ENSURING THE LEGACY AND VITALITY OF AMERICA'S MOST ICONIC THEATER DISTRICT. THE NEW 42ND STREET, INC. (D/B/A NEW 42) WAS ESTABLISHED IN 1990 BY THE CITY AND STATE OF NEW YORK 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, NEW 42 OPERATES PROGRAMMING OUT OF TWO BUILDINGS UNDER ITS STEWARDSHIP: THE NEW VICTORY THEATER AND THE NEW 42 STUDIOS. NEW 42 HAS STRATEGICALLY SUBLEASED ITS REMAINING PROPERTIES TO ENSURE THE ONGOING VIBRANCY OF 42ND STREET'S HISTORIC THEATERS. THIS YEAR, NEW 42 DEDICATED ITSELF TO BUILDING: BUILDING OUR COMMUNITY THROUGH EXTRAORDINARY SHARED ARTS EXPERIENCES, BUILDING AUDIENCES BY PROVIDING ARTS EDUCATION AND PERFORMANCES THAT LEAVE A LASTING IMPRINT ON KIDS' HEARTS AND MINDS, AND BUILDING FUTURES BY INVESTING IN THE ARTISTS, BROADWAY PRODUCTIONS AND YOUTH THAT WILL DEFINE NEW YORK CITY'S NEXT GENERATION. IN 2023-2024, NEW 42 PRESENTED A DYNAMIC SEASON OF ARTS AND EDUCATIONAL PROGRAMMING FOR 58,093 KIDS AND FAMILIES VIA PUBLIC PERFORMANCES AT THE NEW VICTORY THEATER AND THROUGH EDUCATIONAL PROGRAMS AT 143 SCHOOLS ACROSS ALL FIVE BOROUGHS. PERFORMANCES INCLUDED 11 SHOWS FROM 8 COUNTRIES, INCLUDING 5 WORLD OR U.S. PREMIERES, AND PERFORMANCES FROM 9 LOCAL DANCE COMPANIES. THE AVERAGE TICKET PRICE FOR PUBLIC AUDIENCES WAS JUST $30, AND NEW 42 ADDITIONALLY PROVIDED 27,400 FREE AND REDUCED-COST TICKETS THROUGH OUR NEW VICTORY EDUCATION PROGRAM AND FOR NYCHA RESIDENTS VIA THE BRING YOUR FAMILY PROGRAM. THE NEW VICTORY YOUTH CORPS PROGRAM PROVIDED 50 HIGH SCHOOL AND COLLEGE STUDENTS WITH 17,200 HOURS OF PAID EMPLOYMENT AND CAREER PREPARATION SERVICES THROUGH A WORKFORCE DEVELOPMENT PROGRAM. THE NEW 42 STUDIOS HOUSED 31 BROADWAY, OFF-BROADWAY AND TOURING COMPANY REHEARSALS.NEW VICTORY THEATER: THE NEW VICTORY THEATER'S 2023-2024 SEASON FEATURED 11 DYNAMIC ARTISTS AND COMPANIES REPRESENTING 8 DISTINCT COUNTRIES FROM AROUND THE GLOBE PRESENTING INCREDIBLE WORKS THAT TOLD STORIES OF NEWFOUND FRIENDSHIP AND FAMILY, ENVIRONMENTAL PROTECTION, AND OVERCOMING OBSTACLES BY BELIEVING IN ONESELF. THE SEASON INCLUDED AN ARRAY OF ARTISTIC FORMS AND TECHNIQUES INCLUDING THE CIRCUS ARTS, PUPPETRY, VARIETY PERFORMANCES, AND THEATER. EACH PRODUCTION WAS ACCOMPANIED BY PRE- AND POST-SHOW ACTIVITIES LED BY NEW VICTORY TEACHING ARTISTS WHO ENGAGED KIDS IN ART-MAKING AND COMMUNITY-BUILDING.NEW VICTORY EDUCATION: IN THE 2023-2024 SEASON, 143 PARTNER SCHOOLS FROM ACROSS NEW YORK CITY PARTICIPATED IN THE NEW VICTORY EDUCATION PROGRAM. A ONCE-ANNUAL FEE OF $100 PROVIDED PRE-K THROUGH 12TH GRADE STUDENTS AND TEACHERS ACCESS TO MATINEE FIELD TRIP PERFORMANCES FOR THE SUBSIDIZED PRICE OF $2 A TICKET (THE SAME PRICE SINCE 1995), CLASSROOM WORKSHOPS LED BY NEW VICTORY TEACHING ARTISTS, AND A SERIES OF CULTURALLY-RESPONSIVE, EARLY CHILDHOOD ARTS EDUCATION RESOURCE GUIDES TO PROMOTE ARTISTIC INQUIRY AND CREATIVITY WITHIN SCHOOL CURRICULA AND TO PROVIDE TEACHERS WITH PROFESSIONAL DEVELOPMENT OPPORTUNITIES. NEW 42 YOUTH CORPS: NYC'S FIRST AND LARGEST THEATER EMPLOYMENT AND SKILLS-BUILDING PROGRAM FOR YOUTH, THE YOUTH CORPS PROVIDES TARGETED, PERSONALIZED SUPPORT SYSTEMS FOR YOUNG PEOPLE AS THEY TRANSITION FROM HIGH SCHOOL THROUGH COLLEGE AND INTO THEIR CHOSEN CAREERS IN AND BEYOND THE ARTS SECTOR. THROUGH PAID PART-TIME EMPLOYMENT, LIFE/JOB SKILLS TRAINING, COLLEGE MATRICULATION AND GRADUATION ASSISTANCE, AND DIRECT MENTORSHIP WITH ARTS PROFESSIONALS, YOUTH CORPS IN 2023-2024 SUPPORTED 50 YOUNG NEW YORKERS, AGES 16-24, AS THEY BEGAN TO NAVIGATE THE CHALLENGES FACED DURING THE OFTEN DIFFICULT TRANSITION INTO ADULTHOOD. 17967309 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 0 0 0 0 0 0 0 0 0 1 58 0 1 349 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 30 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 AHMAN-LLEWELLYN VICE CHAIR 1.00 X X 0 0 0 MARC A SPILKER VICE CHAIR 1.00 X X 0 0 0 TIFFANY GARDNER VICE CHAIR 1.00 X X 0 0 0 STEFANIE KATZ ROTHMAN SECRETARY 1.00 X X 0 0 0 ANDREW SOMMERS TREASURER 1.00 X X 0 0 0 YEMI BENEDICT-VATEL DIRECTOR 1.00 X 0 0 0 LYNNE BIGGAR DIRECTOR 1.00 X 0 0 0 LEIGH BISHOP DIRECTOR 1.00 X 0 0 0 LILI FABLE DIRECTOR 1.00 X 0 0 0 KELLY GALANIS DIRECTOR 1.00 X 0 0 0 NEIL GUPTA DIRECTOR 1.00 X 0 0 0 SHARON COPLAN HUROWITZ DIRECTOR 1.00 X 0 0 0 BILL IRWIN DIRECTOR 1.00 X 0 0 0 AMY JACOBS DIRECTOR 1.00 X 0 0 0 VINNIE KUMAR DIRECTOR 1.00 X 0 0 0 JI PARK KWAK DIRECTOR 1.00 X 0 0 0 GREG LIPPMANN DIRECTOR 1.00 X 0 0 0 JOHN LITHGOW DIRECTOR 1.00 X 0 0 0 SARAH LONG DIRECTOR 1.00 X 0 0 0 SAMMY LOPEZ DIRECTOR 1.00 X 0 0 0 ISAAC MIZRAHI DIRECTOR 1.00 X 0 0 0 LAURA O'DONOHUE DIRECTOR 1.00 X 0 0 0 KATHERINE PECK DIRECTOR 1.00 X 0 0 0 ELIOT RUBENZAHL DIRECTOR 1.00 X 0 0 0 HENRY TISCH DIRECTOR 1.00 X 0 0 0 ANN UNTERBERG DIRECTOR 1.00 X 0 0 0 NICOLE WEISS DIRECTOR 1.00 X 0 0 0 CHRISTINA ZAGARINO DIRECTOR 1.00 X 0 0 0 LUCINDA ZILKHA DIRECTOR 1.00 X 0 0 0 RUSSELL GRANET PRESIDENT & CEO 40.00 X X 574836 0 78292 CORA CAHAN FORMER PRESIDENT 0.00 X 108912 0 0 MICHELE PAGNOTTA VICE PRESIDENT, FINANCE 40.00 X 203178 0 31992 ELIZABETH A CASHOUR VICE PRESIDENT, DEVELOPMENT 40.00 X 211650 0 22813 MARY E ROSE ARTISTIC DIRECTOR 40.00 X 231988 0 25066 WENDY M HUTTON VICE PRESIDENT, ADMINISTRATION 40.00 X 190755 0 21769 LAUREN P FITZGERALD VP, MARKETING & COMMUNICATIONS 40.00 X 183120 0 24528 LINDSEY BULLER MALIEKEL VP, EDUCATION & PUBLIC ENGAGEMENT 40.00 X 150494 0 24586 COURTNEY J BODDIE VP, EDUCATION & SCHOOL ENGAGEMENT 40.00 X 153732 0 21292 2008665 0 250338 22 1 1 0 KASIRER LLC 321 BROADWAY SUITE 201 NEW YORK NY 10007 LOBBYING FEES 120000 EASTON ARCHITECTS LLP 20 W 44TH ST 604 NEW YORK NY 10036 ARCHITECT FEES 100033 2 1223926 1058170 9734534 15559 12016630 RENTAL & OTHER PROJECTS 532000 14324681 14324681 BOX OFFICE RECEIPTS 711110 1332099 1332099 15656780 271320 271320 4699758 4636552 63206 63206 63206 157518 1223926 157518 0 MISCELLANEOUS 900099 25735 25735 25735 28033671 15656780 0 360261 1142006 483833 174867 483306 9724492 7751217 1390313 582962 366278 285088 63653 17537 1703352 1279301 291672 132379 847224 627114 145442 74668 213569 7638 205931 67089 67089 120000 120000 38866 38866 994057 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23361695 1000000 250000 0 0 861677 1000000 1000000 1000000 3861677 5792516 120400 120000 120000 120000 480400 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. 34952618 20964802 13987816 27444086 11782911 15661175 4346415 3860805 485610 2410637 2086630 324007 30458608 ACCRUED SUBLEASE INCOME 6491648 6491648 SECURITY DEPOSITS HELD 361480 361480 28440937 446132 446132 27994805 38866 38866 28033671 23322829 0 23322829 38866 38866 23361695 GALA BENEFIT 1274338 1148415 125923 125923 FAMILY BENEFIT 107106 75511 31595 30095 1500 1381444 1223926 157518 156018 1500 157518 0 X X X X X X 0 1 0 0 0 0 0 0 0 RUSSELL GRANET PRESIDENT & CEO 574836 0 0 0 0 0 39500 0 38792 0 653128 0 0 0 CORA CAHAN FORMER PRESIDENT 0 0 0 0 108912 0 0 0 0 0 108912 0 108912 0 MICHELE PAGNOTTA VICE PRESIDENT, FINANCE 203178 0 0 0 0 0 10557 0 21435 0 235170 0 0 0 ELIZABETH A CASHOUR VICE PRESIDENT, DEVELOPMENT 211650 0 0 0 0 0 10683 0 12130 0 234463 0 0 0 MARY E ROSE ARTISTIC DIRECTOR 231988 0 0 0 0 0 11758 0 13308 0 257054 0 0 0 WENDY M HUTTON VICE PRESIDENT, ADMINISTRATION 190755 0 0 0 0 0 9638 0 12131 0 212524 0 0 0 LAUREN P FITZGERALD VP, MARKETING & COMMUNICATIONS 183120 0 0 0 0 0 9406 0 15122 0 207648 0 0 0 LINDSEY BULLER MALIEKEL VP, EDUCATION & PUBLIC ENGAGEMENT 150494 0 0 0 0 0 7840 0 16746 0 175080 0 0 0 COURTNEY J BODDIE VP, EDUCATION & SCHOOL ENGAGEMENT 153732 0 0 0 0 0 7838 0 13454 0 175024 0 0 0 PART II, LINE 1B RUSSELL GRANET - DEFERRED COMPENSATION UNDER SUPPLEMENTAL NONQUALIFIED PLAN - $23,000 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.