2021-12-13T13:33:00-06:00 2020-12-31 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2020-01-01 133584516 THE NEW PRESS INC NEWP 2126298802 120 WALL STREET NO 31 FL NEW YORK NY 100054007 DIANE WACHTELL EXECUTIVE DIRECTOR 2126298802 2021-12-09 1 DIANE WACHTELL 999009999 FREDERICK MARTENS P00298107 2126972299 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DIANE WACHTELL 120 WALL STREET NO 31 FL NEW YORK NY 100054007 11187073 0 X WWW.THENEWPRESS.COM X 1990 NY PUBLISHING IN THE PUBLIC INTEREST BOOKS OF CULTURAL, HISTORICAL, AND/OR EDUCATIONAL VALUE THAT ARE LIKELY TO BE DEEMED INSUFFICIENTLY PROFITABLE AND HENCE OVERLOOKED BY COMMERCIAL PUBLISHERS. 19 17 35 18 0 0 1696322 2296573 390504 687191 2166 3265 2252789 4453881 4341781 7440910 90250 0 0 0 2557306 2692041 0 0 578048 2073213 2173675 4720769 4865716 -378988 2575194 5136219 9099450 1381480 2769815 3754739 6329635 X PUBLICATION OF BOOKS ON CULTURAL, HISTORICAL, AND SOCIAL ISSUES TO INCREASE EDUCATIONAL AND SOCIAL AWARENESS. THESE BOOKS ARE OFTEN WRITTEN BY AUTHORS AND/OR ARE WRITTEN ABOUT SUBJECTS THAT MIGHT OTHERWISE NOT BE DEEMED COMMERCIAL ENOUGH TO BE PUBLISHED. ORGANIZE FREE PUBLIC FORUMS FOR DISCUSSION ABOUT ISSUES ADDRESSED IN THE NEW PRESS BOOKS BY THE NEW PRESS AUTHORS. 0 0 3280227 5042986 AFTER AN EXISTENTIALLY CHALLENGING START, THE NEW PRESS CAN LOOK BACK ON A RECORD BREAKING YEAR IN 2020. FOLLOWING THE COVID SHUTDOWN TOWARD THE END OF Q1, SALES REACHED AN ALL-TIME LOW IN THE MONTHS OF MARCH, APRIL, AND MAY. THE PRESS SWITCHED TO WORKING REMOTELY AS OF MID-MARCH AND WENT INTO AUSTERITY MODE ACROSS THE BOARD, POSTPONING BOOKS AND ELIMINATING ALL UNNECESSARY EXPENSES. IN AN EFFORT TO AVOID LAYOFFS, THE NEW PRESS INSTITUTED A 20% STAFF-WIDE FURLOUGH, CLOSING THE OFFICE ON FRIDAYS, AND SUSPENDED THE ALREADY REDUCED PENSION PAYMENTS ENTIRELY AT THE END OF MARCH. (CONTINUED ON SCHEDULE O)IN EARLY APRIL, WITH JAMES PHELAN HAVING JUST JOINED THE PRESS AS DEVELOPMENT DIRECTOR, WE CONVENED AN EMERGENCY FUNDING ZOOM CALL FEATURING BILL MOYERS AND MICHELLE ALEXANDER, WHICH, TOGETHER WITH OUTREACH BY OUR BOARD CHAIR GARA LAMARCHE TO A KEY FUNDER, RAISED $500K. THE NEW PRESS ALSO BENEFITED FROM A $438K PPP LOAN FROM THE SMALL BUSINESS ASSOCIATION IN MAY 2020 THAT WE EXPECT WILL BE FORGIVEN IN 2021. THEN, IN THE WAKE OF THE POLICE MURDERS OF GEORGE FLOYD, BREONNA TAYLOR, AND OTHER UNARMED AFRICAN AMERICANS AT THE END OF MAY, AND THE NATIONWIDE PROTESTS THAT FOLLOWED, SALES OF OUR BACKLIST RACIAL AND CRIMINAL JUSTICE TITLES EXPERIENCED A REMARKABLE SPIKE. JUNE BROUGHT THE STRONGEST SALES ($1.5M) IN A SINGLE MONTH IN OUR HISTORY, FOLLOWED BY RECORD-SETTING MONTHS IN JULY AND AUGUST, WITH SALES OF $1.4M AND $1.3M RESPECTIVELY. THE SALES RECOVERY WAS FUELED BY THE NEW JIM CROW, WHICH RETURNED TO THE NEW YORK TIMES BESTSELLER LIST (WHERE IT HAS REMAINED FOR THE FIRST TEN WEEKS OF 2021), AND THE STRONG PERFORMANCE OF OUR EBOOK SALES (IN PART BECAUSE IT WAS A STRUGGLE TO KEEP OUR PRINT BOOKS IN STOCK TO MEET THE EXTRAORDINARY DEMAND, AND IN PART BECAUSE STORE CLOSURES LED TO INCREASED DIGITAL SALES). IN ADDITION, SEVERAL DOZEN BACKLIST TITLES ON STRUCTURAL RACISM, POLICING, AND SOCIAL JUSTICE WERE SUDDENLY IN GREAT DEMAND, ALL CONTRIBUTING TO AN UNPRECEDENTED LEVEL OF SALES. BY THE END OF 2020, TOTAL EARNED INCOME HAD REACHED OVER $8M, AND ENDED THE YEAR WITH ITS BEST RESULT EVER. 3280227 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 147 0 1 35 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X CARLINE YUP 2126298802 120 WALL STREET NO 31 FL NEW YORK NY 100054007 DIANE WACHTELL EXECUTIVE DIRECTOR 35.00 X X 164832 0 30465 ELLEN ADLER PUBLISHER 35.00 X X 163413 0 13573 GARA LAMARCHE CHAIR 2.00 X X 0 0 0 THEODORE M SHAW VICE CHAIR 1.00 X X 0 0 0 AMY GLICKMAN TREASURER 1.00 X X 0 0 0 SARAH BURNES SECRETARY 1.00 X X 0 0 0 JONATHAN S ABADY DIRECTOR 1.00 X 0 0 0 JESSICA BAUMAN DIRECTOR 1.00 X 0 0 0 JOHN ANTHONY BUTLER DIRECTOR 1.00 X 0 0 0 RICARDO CASTRO DIRECTOR 1.00 X 0 0 0 JEFF DEUTSCH DIRECTOR 1.00 X 0 0 0 BRUCE GOTTLIEB DIRECTOR 1.00 X 0 0 0 BRAD HEBEL DIRECTOR 1.00 X 0 0 0 HELENA HUANG DIRECTOR 1.00 X 0 0 0 AZIZ HUQ DIRECTOR 1.00 X 0 0 0 VIVIEN LABATON DIRECTOR 1.00 X 0 0 0 IDELISSE MALAVE DIRECTOR 1.00 X 0 0 0 K SABEEL RAHMAN DIRECTOR 1.00 X 0 0 0 FREDERICK AO SCHWARZ JR DIRECTOR 1.00 X 0 0 0 NABIHA SYED DIRECTOR 1.00 X 0 0 0 TINA C WEINER DIRECTOR 1.00 X 0 0 0 CARLINE YUP DIRECTOR OF FINANCE / CFO 35.00 X 132589 0 14110 BRIAN ULICKY DIRECTOR OF MARKETING 35.00 X 101459 0 12004 562293 0 70152 4 0 1 0 MAPLEPRESS 232 MADISON AVE NEW YORK NY 10016 PRINTING, DESIGN, MAILING, BINDERY 1456789 INGRAM CONTENT GROUP ONE INGRAM BLVD LA VERGNE TN 37086 DISTRIBUTOR 1289071 2 2296573 2296573 SUBRIGHTS INCOME 511130 687191 687191 687191 565 565 98086 0 98086 98086 98086 96258 93558 2700 2700 2700 7831825 3652605 4179220 4179220 OTHER INCOME 900099 176575 176575 176575 7440910 5042986 0 101351 658648 219979 301160 137509 1459982 921846 304835 233301 148383 90415 33083 24885 253186 148253 64431 40502 171842 94130 47969 29743 4439 2334 1299 806 33000 33000 135699 93124 26281 16294 266386 251316 11988 3082 71159 37414 20829 12916 330991 174031 96887 60073 16928 8900 4956 3072 19711 10364 5770 3577 38271 38271 DISTRIBUTION 1196157 1196157 POSTAGE/SHIPPING 29396 18313 6841 4242 BANK CHARGES/FEES 24965 13126 7308 4531 EVENT EXPENSES 2984 2984 3589 525 2533 531 4865716 3280227 1007441 578048 57414 3111349 159553 257603 660450 837760 1316183 2196501 1341798 1259080 16659 12576 182155 99345 89455 82810 156163 62307 1338544 1279464 5136219 9099450 545068 869858 438300 836412 1461657 1381480 2769815 X 1970319 5064642 1784420 1264993 3754739 6329635 5136219 9099450 2575194 -298 0 X 0 1 X 1 0 X 899599 1366001 1671911 1696322 2296573 7930406 6721608 6582848 5152227 4933923 8519016 31909622 7621207 7948849 6824138 6630245 10815589 39840028 784650 1031285 1422650 1335075 1999700 6573360 0 784650 1031285 1422650 1335075 1999700 6573360 33266668 41948 44511 46097 88584 98651 319791 41948 44511 46097 88584 98651 319791 12711 34215 12810 22499 176575 258810 7675866 8027575 6883045 6741328 11090815 40418629 0.82310 0.83430 0.00790 0.00730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 107056 47256 59800 46909 27408 19501 28190 24681 3509 82810 AUTHOR ADVANCES, NET 1279464 1279464 ROYALTIES PAYABLE 1212331 DEFERRED RENT 249326 1461657 7440612 -298 -298 7440910 0 7440910 4865716 0 4865716 0 4865716 NORTH AMERICA 0 0 PROGRAM SERVICES BOOK SALES THROUGH DISTRIBUTOR IN REGION 14686 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES BOOK SALES THROUGH DISTRIBUTOR IN REGION 27329 0 0 0 0 0 0 42015 0 42015 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X 0 0 0 0 0 0 0 0 0 DIANE WACHTELL EXECUTIVE DIRECTOR 163283 0 0 0 1549 0 2780 0 27685 0 195297 0 0 0 ELLEN ADLER PUBLISHER 159371 0 0 0 4042 0 2964 0 10609 0 176986 0 0 0 FORM 990, PART I, LINE 5 NUMBER OF INDIVIDUALS EMPLOYED IN CALENDAR YEAR 2020 THE 35 INDIVIDUALS EMPLOYED DURING CALENDAR YEAR 2020 CONSISTED OF 24 FULL-TIME EMPLOYEES AND 11 TEMPS/INTERNS EMPLOYED ON A PART-TIME OR SHORT-TERM BASIS. FORM 990, PART VI, SECTION B, LINE 11B MEMBERS OF THE AUDIT COMMITTEE REVIEW FORM 990 WHICH IS ALSO DISTRIBUTED TO THE ENTIRE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANY POTENTIAL CONFLICTS OF INTEREST ARE REFERRED TO THE AUDIT COMMITTEE. IF A COMMITTEE MEMBER HAS A CONFLICT OF INTEREST, THAT MEMBER RECUSES HIM/HERSELF FROM THE DISCUSSION AND/OR VOTING ON THAT TOPIC. EACH YEAR, EACH OFFICER AND DIRECTOR COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM, AND THESE FORMS ARE PROVIDED TO THE AUDIT COMMITTEE AND MADE AVAILABLE FOR INSPECTION BY MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS DETERMINED BY THE FINANCE COMMITTEE WHICH ACTS AS THE COMPENSATION COMMITTEE. COMPENSATION OF THE EXECUTIVE DIRECTOR AND THE PUBLISHER IS BASED ON A REVIEW OF PERFORMANCE BY INDEPENDENT MEMBERS OF THE BOARD, AS WELL AS ON AN UNDERSTANDING OF COMPARABLE COMPENSATION IN SIMILAR ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.