2021-05-14T14:08:06-05:00 2020-06-30 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2019-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 RUSSELL GRANET PRESIDENT 6462233000 2021-05-12 1 DONALD SHAEFITZ P00449034 2126972299 2019 2022-09-23 18:48:47Z RUSSELL GRANET 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 18443253 0 X WWW.NEW42.ORG X 1988 NY THE NEW 42ND STREET, INC. CATALYZES THE POWER OF PERFORMING ARTS TO SPARK NEW PERSPECTIVES, INCUBATE NEW WORKS AND CREATE NEW OPPORTUNITIES FOR US ALL. THROUGH THE NONPROFIT'S SIGNATURE PROJECTS, NEW 42 MAKES 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. 27 26 376 30 2000 0 4388912 5262893 14913149 12946374 4755 2349 176008 142382 19482824 18353998 0 0 0 0 11698040 11830622 60000 36000 1180413 8823659 8003876 20581699 19870498 -1098875 -1516500 45945893 46201671 7787680 9559958 38158213 36641713 X SEE SCHEDULE O 0 0 16320758 13037975 IN 2019-20, FOR NEW VICTORY'S 24TH SEASON, THE THEATER ORIGINALLY PROGRAMMED 15 THEATER, DANCE, PUPPETRY, CIRCUS, OPERA AND MUSIC PRESENTATIONS FROM NINE COUNTRIES, INCLUDING SOUTH AFRICA, SWITZERLAND, SWEDEN, ITALY, SCOTLAND, ENGLAND, NETHERLANDS, NORWAY, AND FRANCE, AS WELL AS FOUR CITIES ACROSS THE UNITED STATES. DURING THE RUN OF DRUMFOLK BY STEP AFRIKA! (THE EIGHTH SHOW OF THE SEASON), CONCERNS OVER COVID-19 BECAME A REALITY AND NEW 42 MOVED SWIFTLY TO ENSURE THE SAFETY OF ALL STAFF AND PATRONS. AS OF MARCH 12, 2020, NEW 42 TEMPORARILY SHUTTERED THE NEW VICTORY THEATER AND CANCELED THE FINAL SIX PUBLIC AND EDUCATION PERFORMANCES OF DRUMFOLK, AS WELL AS THE SEVEN REMAINING PRESENTATIONS SCHEDULED IN THE 2019-20 SEASON. (CONTINUED ON SCHEDULE O)AT THE TIME OF THE THEATER'S TEMPORARY CLOSURE, 100 OUT OF THE 183 ORIGINALLY-SCHEDULED PUBLIC SHOWS WERE SEEN BY 37,776 KIDS AND ADULTS, AND 57 OF THE 99 ORIGINALLY-SCHEDULED WEEKDAY EDUCATION PERFORMANCES WERE ATTENDED BY 21,340 PRE-K - 12TH GRADE SCHOOLCHILDREN AND TEACHERS. TICKETS TO THE THEATER'S PUBLIC SHOWS AVERAGED AN AFFORDABLE $27, WITH SOME TICKET PRICES AS LOW AS $10 FOR NEW VICTORY MEMBERS. SCHOOLS PARTICIPATING IN NEW VICTORY EDUCATION PAID THE DEEPLY SUBSIDIZED RATE OF $2 PER STUDENT TICKET AND $5 PER CHAPERONE TICKET, AS THEY HAVE SINCE THE THEATER OPENED. PRIOR TO THEATER AND SCHOOL CLOSURES DUE TO COVID-19, NEW VICTORY EDUCATION ALSO SENT NEW VICTORY TEACHING ARTISTS INTO CLASSROOMS ACROSS NYC TO CONDUCT 798 FREE PRE- AND POST-PERFORMANCE WORKSHOPS ENGAGING 15,960 STUDENTS. DESPITE THE CHALLENGES PRESENTED BY COVID-19, NEW 42 MET THE MOMENT BY QUICKLY PIVOTING THE FOCUS FROM IN-PERSON TO VIRTUAL CONTENT. TO SERVE NYC'S KIDS AND FAMILIES WHILE THEATERS AND SCHOOLS WERE CLOSED, NEW VICTORY CREATED A FREE, WEEKLY WEB-BASED ARTS PROGRAM ENTITLED NEW VICTORY ARTS BREAK, WHICH FAMILIES ACROSS THE CITY AND BEYOND COULD ACCESS FROM THEIR HOMES. ON MARCH 16TH, THE FIRST VIDEOS AND ACTIVITIES WERE RELEASED, GIVING KIDS AND PARENTS SOMETHING FUN AND CREATIVE TO DO TOGETHER DURING A CHALLENGING PERIOD OF SOCIAL ISOLATION. EACH WEEK, ARTS BREAK OFFERED FAMILIES FIVE DAYS OF CLIPS OF PROFESSIONAL PERFORMANCES, ACTIVITY INSTRUCTIONS, AND OTHER CREATIVE INSPIRATION, AND FEATURED A VARIETY OF THEMES INCLUDING PERCUSSION, JUST MOVE!, PUPPETRY, AND MORE. BY THE END OF FY20, ARTS BREAK RECEIVED 485,669 VIDEO VIEWS, OUTPERFORMING ANY OTHER VIDEO CONTENT NEW 42 HAD PUBLISHED ONLINE. IN ADDITION, NEW VICTORY LAUNCHED A DIGITAL LIBRARY OF NEW VICTORY EDUCATION CURRICULUM MATERIALS THAT TEACHERS THROUGHOUT THE CITY WERE ABLE TO ACCESS FOR THEIR STUDENTS. IN JULY 2019, FAR PRIOR TO ANY CHALLENGES CREATED BY COVID-19, NEW VICTORY PRESENTED THE SIXTH SEASON OF NEW VICTORY DANCE, A MULTI-WEEK PERFORMANCE SERIES FOR KIDS IN SUMMER SCHOOLS, SUBSIDIZED DAY CAMPS AND SOCIAL SERVICE PROGRAMS. FEATURING 12 PROMINENT NYC DANCE COMPANIES AND SOLOISTS, THE SERIES INCLUDED NINE DAYTIME EDUCATION SHOWS THAT WERE FREE OF CHARGE FOR THE 3,834 STUDENTS AND CHAPERONES FROM 40 PARTNER ORGANIZATIONS WHO ATTENDED. NEW VICTORY DANCE ALSO OFFERED THREE EVENING PERFORMANCES FOR THE PUBLIC, FOR WHICH ALL SEATS WERE ONLY $10, WHICH WAS SEEN BY 1,477 KIDS AND ADULTS. SUMMER SCHOOLS, CAMPS AND OTHER EDUCATION PARTNER SITES WERE ALSO OFFERED 103 FREE PRE- AND POST-PERFORMANCE WORKSHOPS DELIVERED BY NEW VICTORY TEACHING ARTISTS, ALONG WITH NEW VICTORY DANCE CURRICULUM GUIDES. NEW VICTORY LABWORKS, A NEW-WORK DEVELOPMENT PROGRAM, WHICH CELEBRATED ITS EIGHTH YEAR IN FY20, IS AN ARTISTIC PROGRAMMING INITIATIVE THAT WAS CREATED TO FOSTER THE CREATION AND DEVELOPMENT OF INNOVATIVE WORK FOR FAMILY AUDIENCES, AND ADVOCATE FOR THE IMPORTANCE OF HIGH-QUALITY PERFORMING ARTS FOR YOUNG PEOPLE. IN FY20, 11 NYC-BASED PERFORMING ARTS GROUPS OR ARTISTS RECEIVED REHEARSAL SPACE, A PROJECT STIPEND, GUIDANCE FROM NEW VICTORY ARTISTIC PROGRAMMING STAFF, AND FEEDBACK FROM NEW VICTORY MEMBER FAMILIES AND INDUSTRY PROFESSIONALS WHO ATTENDED LABWORKS OPEN REHEARSALS. LABWORKS ALSO CONTINUED TO SUPPORT THREE RETURNING MEMBERS OF THE FY19 COHORT. BY THE END OF FY20, OVER 66 NEW WORKS HAD BEEN DEVELOPED THROUGH LABWORKS, MANY OF WHICH HAVE SINCE BEEN PRODUCED, PRESENTED, OR TOURED AROUND THE WORLD, INCLUDING FIVE THAT HAVE BEEN PRESENTED BY NEW VICTORY. NEW 42'S YOUTH CORPS PROGRAM SERVED 76 YOUTH AGED 16+ THROUGH 31,150 HOURS OF PAID EMPLOYMENT, JOB TRAINING AND MENTORSHIP DURING THE 2019-20 SEASON. THROUGH THE USHER CORPS, 51 YOUTH WERE EMPLOYED AS NEW VICTORY USHERS AND PARTICIPATED IN PAID PROFESSIONAL DEVELOPMENT WORKSHOPS. THROUGH THE COLLEGE CORPS, 26 CUNY STUDENTS BENEFITED FROM YEAR-ROUND, PART-TIME EMPLOYMENT, AS WELL AS ACADEMIC, FINANCIAL, AND PERSONAL SUPPORT. FELLOWS CORPS EMPLOYED ONE FORMER USHER PARTICIPANT IN THE MARKETING/COMMUNICATIONS DEPARTMENT, WHERE SHE ACQUIRED SKILLS AND EXPERIENCE THAT WILL HELP HER PURSUE HER CAREER AMBITION OF A FUTURE IN MARKETING. FOLLOWING THE CLOSURE OF THE NEW VICTORY THEATER AND NEW 42 STUDIOS BUILDING IN MARCH 2020, NEW 42 REPLACED HOURS THAT PARTICIPANTS WOULD HAVE WORKED IN-PERSON WITH PAID REMOTE PROFESSIONAL DEVELOPMENT AND MENTORING.THE NEW 42ND STREET STUDIOS, A 10-STORY BUILDING WHICH OPENED IN THE FALL OF 2000, COMPLETED ITS 20TH YEAR OF OPERATIONS. THE STUDIO BUILDING PLAYS A VITAL ROLE IN THE PERFORMING ARTS COMMUNITY, AND SERVES AS THE ADMINISTRATIVE HOME TO FIVE NOT-FOR-PROFIT CULTURAL ORGANIZATIONS. ANNUALLY IT PROVIDES YEAR-ROUND, STATE-OF-THE-ART REHEARSAL AND PERFORMANCE SPACE TO APPROXIMATELY 14,000 ARTISTS FROM NOT-FOR-PROFIT ORGANIZATIONS AND COMMERCIAL BROADWAY, OFF-BROADWAY AND TOURING PRODUCTIONS. IN ADDITION, THE DUKE ON 42ND STREET, THE BLACK BOX THEATER LOCATED ON THE 2ND FLOOR OF NEW 42ND STREET STUDIOS, FEATURED ONE OF THREE PLANNED NEW VICTORY SHOWS PRIOR TO CLOSING DUE TO COVID-19, AND WAS RENTED BY TWO NON-PROFIT THEATER COMPANIES AND ONE COMMERCIAL RENTER IN FY20. 16320758 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 73 0 1 376 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X ELIZABETH HINES 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 ANDREW SOMMERS TREASURER 1.00 X X 0 0 0 STEFANIE KATZ ROTHMAN SECRETARY 1.00 X X 0 0 0 CHARLES SHORTER SECRETARY (TO 8/2019) 1.00 X X 0 0 0 HERMAN A BERLINER DIRECTOR 1.00 X 0 0 0 LYNNE BIGGAR DIRECTOR 1.00 X 0 0 0 MAURICE DUBOIS DIRECTOR 1.00 X 0 0 0 LILI FABLE DIRECTOR 1.00 X 0 0 0 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143538 117332 91601 610210 24427944 64711631 0.94250 0.96910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 108150 108150 19762348 19870498 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 81100 84150 87050 108150 360450 250000 250000 250000 250000 1000000 1500000 34734002 17023062 17710940 22114229 8697765 13416464 4135267 3105557 1029710 2095866 1608595 487271 32644385 SECURITY DEPOSITS HELD 2921732 2921732 18353998 0 18353998 0 18353998 19870498 0 19870498 0 19870498 X X X X X X 1 NGK GLOBAL LLC 25 EAST 67TH STREET 5C NEW YORK NY 10065 IDENTIFY AND INTRODUCE PROSPECTIVE DONORS AND EVENT PLANNING 0 36000 36000 0 36000 36000 GALA BENEFIT 1539218 1512020 27198 10000 17198 FAMILY BENEFIT 99306 62761 36545 29570 1855 5120 1638524 1574781 63743 29570 11855 22318 63743 0 X X X X X X 0 0 0 0 0 0 0 0 0 RUSSELL GRANET PRESIDENT 252714 0 0 0 0 0 0 0 18693 0 271407 0 0 0 CORA CAHAN FORMER PRESIDENT 493177 0 0 0 0 0 21355 0 12783 0 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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.