2017-05-15T15:28:14-05:00 2016-06-30 131655065 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2015-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 CORA CAHAN PRESIDENT 6462233000 2017-05-12 1 DONALD SHAEFITZ P00449034 2126972299 2015 2021-01-29 14:40:06Z CORA CAHAN 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 14933122 0 X WWW.NEW42.ORG X 1988 NY COMMITTED TO THE TRANSFORMATIONAL POWER OF THE ARTS, THE NEW 42ND STREET BUILDS ON THE FOUNDATION OF SEVEN HISTORIC THEATERS TO MAKE EXTRAORDINARY PERFORMING ARTS AND CULTURAL ENGAGEMENT PART OF EVERYONE'S LIFE. 26 25 399 28 3852 -57308 7715568 3084901 10349030 11422790 1209 497 153390 188095 18219197 14696283 0 0 0 0 9892836 10445639 0 0 1346709 7172975 7712453 17065811 18158092 1153386 -3461809 46309818 43875231 3587486 4614708 42722332 39260523 X SEE SCHEDULE O 0 0 15661223 11562662 IN ITS 20TH FULL SEASON, THE NEW VICTORY THEATER PRESENTED AN INTERNATIONAL AND CULTURALLY DIVERSE RANGE OF PRODUCTIONS FROM AUSTRALIA, CANADA, CUBA, CZECH REPUBLIC, ENGLAND, FRANCE, ITALY, NORWAY, SCOTLAND, SOUTH AFRICA, AND THE UNITED STATES, REPRESENTING A VARIETY OF ARTISTIC GENRES. THE THEATER OFFERED 218 PUBLIC AND 100 SCHOOL PERFORMANCES OF CAPTIVATING WORK FOR YOUNG AUDIENCES THAT WERE ATTENDED BY 69,709 MEMBERS OF THE PUBLIC, AND 33,945 STUDENTS AND TEACHERS. REGULAR TICKET PRICES FOR PUBLIC SHOWS RANGED FROM $10 TO A MAXIMUM OF $55 FOR A SPECIAL HOLIDAY PRESENTATION, WHICH HELPED TO MAKE TICKETS AFFORDABLE FOR EVERYONE. TICKETS FOR STUDENTS PARTICIPATING IN THE NEW VICTORY THEATER'S EDUCATION PARTNERSHIP PROGRAM COST ONLY $2 EACH, AS THEY HAVE SINCE THE THEATER OPENED. THE PARTNERSHIP PROGRAM ALSO SENT 53 NEW VICTORY TEACHING ARTISTS INTO CLASSROOMS ACROSS NYC TO CONDUCT 1300 PRE- AND POST-PERFORMANCE WORKSHOPS AT NO COST TO KIDS, TEACHERS OR SCHOOLS, AND TEACHERS PARTICIPATING IN THE PROGRAM ALSO RECEIVED FREE PROFESSIONAL DEVELOPMENT FROM NEW VICTORY STAFF AND TEACHING ARTISTS, AND ACCESS TO NEW VICTORY SCHOOL TOOL CURRICULUM RESOURCE GUIDES FOR EVERY PRODUCTION IN THE SEASON. IN JULY 2015, THE NEW VICTORY ALSO PRESENTED THE SECOND SEASON OF "VICTORY DANCE," A 3-WEEK PERFORMANCE SERIES FOR KIDS IN SUMMER SCHOOLS, SUBSIDIZED DAY CAMPS AND SOCIAL SERVICE PROGRAMS. FEATURING NINE PROMINENT NYC DANCE COMPANIES, THE SERIES INCLUDED NINE DAYTIME SHOWS THAT WERE FREE OF CHARGE FOR THE KIDS AND THEIR CHAPERONES, AS WELL AS THREE EVENING PERFORMANCES FOR THE PUBLIC, AT A TICKET PRICE OF $10. THE SUMMER SCHOOLS, CAMPS AND PROGRAMS WERE ALSO OFFERED FREE PRE-PERFORMANCE WORKSHOPS GIVEN BY NEW VICTORY TEACHING ARTISTS, ALONG WITH VICTORY DANCE CURRICULUM GUIDES. FY 16 ALSO MARKED THE SEVENTH YEAR OF THE NEW VICTORY'S "BRING YOUR FAMILY" PROGRAM, IN WHICH STUDENTS IN SCHOOLS WITH TITLE 1 FUNDING OF 80% OR MORE ARE ABLE TO COME TO FREE WEEKEND PERFORMANCES AT THE THEATER, AND TO BRING FAMILY MEMBERS FOR ONLY $5 PER TICKET. THIS SEASON, 1128 KIDS AND THEIR FAMILIES WERE ABLE TO ATTEND PERFORMANCES AT THE NEW VICTORY THROUGH THIS PROGRAM, MANY OF THEM NON-ENGLISH SPEAKERS AND FIRST-TIME THEATER GOERS. THE NEW VICTORY LABWORKS RESIDENCY PROGRAM, CELEBRATING ITS FOURTH YEAR IN FY 16, IS AN ARTISTIC PROGRAMMING INITIATIVE THAT WAS CREATED TO FOSTER THE DEVELOPMENT OF INNOVATIVE WORK FOR FAMILY AUDIENCES AND ADVOCATE FOR THE IMPORTANCE OF HIGH-QUALITY PERFORMING ARTS FOR YOUNG PEOPLE. EACH YEAR, THROUGH THIS PROGRAM, SELECTED NYC-BASED ARTISTS RECEIVE REHEARSAL SPACE, SUPPORT AND FEEDBACK FROM THE NEW VICTORY, INCLUDING OPEN REHEARSALS FOR INVITED AUDIENCES OF NEW VICTORY MEMBER FAMILIES. FY 16 ALSO MARKED THE FOURTH YEAR (OF FIVE) OF NEW VICTORY SPARK ("SCHOOLS WITH PERFORMING ARTS REACH KIDS"). THIS PROGRAM SERVES NYC PUBLIC SCHOOLS IDENTIFIED AS "ARTS-DEPRIVED." IN FY 16, SPARK EXPANDED TO 30 CLASSES IN 6 SCHOOLS, ENGAGING 618 STUDENTS (GRADES 3-8). STUDENTS, TEACHERS, PARENTS AND ADMINISTRATORS AT THESE SCHOOLS HAVE BECOME REGULAR VISITORS TO THE NEW VICTORY AND ARE ENGAGING IN EXTENSIVE ARTS PROGRAMS AT THEIR SCHOOLS, ROOTED IN THE EXEMPLARY ARTISTIC WORK ON THE NEW VICTORY STAGE. FURTHERMORE, IN COLLABORATION WITH RESEARCH EXPERT WOLFBROWN, THE NEW VICTORY HAS DEVELOPED MEASUREMENT TOOLS AND IS COLLECTING DATA TO UNDERSTAND THE INTRINSIC IMPACT OF THIS DEEP LEVEL OF ARTS ENGAGEMENT ON THE PROGRAM PARTICIPANTS. CONTINUING ITS MISSION TO PROVIDE PAID EMPLOYMENT FOR NEW YORK CITY YOUTH, THE NEW VICTORY THEATER'S "USHER CORPS" PROGRAM - A THREE-YEAR ON-THE-JOB TRAINING PROGRAM - EMPLOYED 48 TEENS TO WORK IN THE THEATER, WHILE THE NEW 42ND STREET APPRENTICE PROGRAM PROVIDED TRAINING IN THEATER, OFFICE AND PRODUCTION SKILLS FOR 29 COLLEGE-AGE STUDENTS THROUGHOUT THE COURSE OF THE YEAR. THE TWO PROGRAMS TOGETHER PROVIDED OVER 26,000 HOURS OF PAID EMPLOYMENT TO NYC YOUTH IN FY 16. THE NEW 42ND STREET'S NOT-FOR-PROFIT NEW 42ND STREET STUDIOS, NOW IN ITS 16TH YEAR OF OPERATIONS, IS ADMINISTRATIVE HOME TO FIVE NOT-FOR-PROFIT CULTURAL ORGANIZATIONS, AND ANNUALLY PROVIDES YEAR-ROUND, STATE-OF-THE-ART REHEARSAL AND PERFORMANCE SPACE TO COUNTLESS PERFORMING ARTISTS. THIS 10-STORY BUILDING, COMPLETED IN THE FALL OF 2000, PLAYS A VITAL ROLE IN THE PERFORMING ARTS COMMUNITY. IN FY 16, 85 NOT-FOR-PROFIT DANCE, THEATER AND OPERA COMPANIES HELD REHEARSALS, AUDITIONS OR SHOWCASES IN THE NEW 42ND STREET STUDIOS AT HIGHLY SUBSIDIZED RENTAL RATES. WHILE THE PREPONDERANCE OF USAGE WAS BY NOT-FOR-PROFIT ORGANIZATIONS, THEY WERE JOINED BY MANY COMMERCIAL BROADWAY, OFF-BROADWAY AND TOURING PRODUCTIONS THAT PAID FULL MARKET RATES. IN ADDITION, THE DUKE ON 42ND STREET, THE BLACK BOX THEATER LOCATED ON THE 2ND FLOOR OF THE NEW 42ND STREET STUDIOS, WAS LIT WITH SEVEN NON-PROFIT PRODUCTIONS AND ONE COMMERCIAL PRODUCTION OVER A 38-WEEK SEASON. THE THEATER WAS ALSO USED BY ARTISTS AS A REHEARSAL AND WORKSHOP SPACE. 15661223 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 58 0 1 399 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X KIM DOBBIE NEUER 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 VICE CHAIR 1.00 X X 0 0 0 CHARLES A PLATT SECRETARY (THROUGH 2/2/2016) 1.00 X X 0 0 0 ANDREW SOMMERS TREASURER 1.00 X X 0 0 0 J WALTER CORCORAN ASSISTANT TREASURER 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 LILI FABLE DIRECTOR 1.00 X 0 0 0 CLARE R GREGORIAN DIRECTOR (THROUGH 12/18/2015) 1.00 X 0 0 0 JENNIFER A GUNDLACH DIRECTOR 1.00 X 0 0 0 MARIAN S HEISKELL DIRECTOR 1.00 X 0 0 0 BILL IRWIN DIRECTOR 1.00 X 0 0 0 SARAH LANE DIRECTOR 1.00 X 0 0 0 MING CHO LEE DIRECTOR 1.00 X 0 0 0 GREG LIPPMANN DIRECTOR 1.00 X 0 0 0 SARAH LONG SOLOMON DIRECTOR 1.00 X 0 0 0 TERRENCE MCNALLY 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 JULIO PETERSON DIRECTOR 1.00 X 0 0 0 REBECCA ROBERTSON DIRECTOR 1.00 X 0 0 0 ISABEL ROSE DIRECTOR 1.00 X 0 0 0 CHARLES SHORTER SECRETARY 1.00 X X 0 0 0 MARC A SPILKER DIRECTOR 1.00 X 0 0 0 CHRISTOPHER L STAAL DIRECTOR 1.00 X 0 0 0 EDWARD F TORRES DIRECTOR 1.00 X 0 0 0 THEODORE R WAGNER DIRECTOR (THROUGH 9/8/2015) 1.00 X 0 0 0 SHARON COPLAN HUROWITZ DIRECTOR 1.00 X 0 0 0 CORA CAHAN PRESIDENT 40.00 X X 532233 0 32783 KIM DOBBIE NEUER VICE PRESIDENT, FINANCE 40.00 X 185447 0 22703 LISA POST EXECUTIVE VICE PRESIDENT 40.00 X 234723 0 40024 DEBORAH TRIMBLE VICE PRESIDENT DEVELOPMENT 40.00 X 200630 0 25458 MARY ROSE DIRECTOR OF ARTISTIC PROGR 40.00 X 170446 0 21775 JESSICA BAKER VICE PRESIDENT OPERATIONS 40.00 X 162675 0 23622 DAVID JENSEN DIRECTO OF PRODUCTION 40.00 X 144188 0 28963 LAUREN FITZGERALD DIRECTOR OF MARKETING & COMMUNICATIONS 40.00 X 132024 0 17074 ROBIN LEEDS DIRECTOR OF TICKET SERVICES 40.00 X 117338 0 27456 1879704 0 239858 12 0 1 0 BIG SHOW CONSTRUCTION MANAGEMENT 231 WEST 29TH STREET 504 NEW YORK NY 10001 GENERAL CONSTRUCTION 378524 BRANDON ASSOCIATES 26 SARAH DRIVE FARMINGDALE NY 11735 ELECTRICAL CONTRACTOR 304889 WHEELWORK ARTS 1301 DESERT CIRCLE FLOOR 16 NEW YORK NY 89117 THEATER ARTISTS 270000 COLUMBIA ARTISTS MANAGEMENT 5 COLUMBUS CIRCLE AT 1709 BORADWAY NEW YORK NY 10019 ARTIST FEE 216000 BP ELEVATOR CO 1400 PARKER STREET BRONX NY 10462 ELEVATOR CONTRACTOR 212802 5 996529 567500 1520872 4298 3084901 RENTAL & OTHER PROJECTS 532000 9405150 9405150 BOX OFFICE RECEIPTS 711110 1918620 1918620 EDUCATION SERVICES REVENUE 611710 99020 99020 11422790 497 497 212495 996529 212495 0 68715 24344 44371 44371 MISCELLANEOUS 900099 139872 139872 ADVERTISING REVENUE 511190 3852 3852 143724 14696283 11562662 3852 44868 1275715 715846 133254 426615 7085535 6324644 306450 454441 272373 235195 14044 23134 1123823 938276 91504 94043 688193 599021 34151 55021 241993 221218 20775 54975 54975 75000 75000 199443 141845 22498 35100 953185 953185 571485 220179 301149 50157 1079994 1079884 110 120997 51649 28627 40721 40559 40559 1783125 1783125 270643 243579 27064 ARTIST FEES 1622750 1622750 OTHER PRODUCTION AND PR 683660 516183 167477 BOX OFFICE SALES EXPENS 14644 14644 18158092 15661223 1150160 1346709 5932 5932 3564421 3362429 8873874 6806456 631857 633907 21864 36647 421998 246244 54900023 22116407 32789872 32783616 46309818 43875231 782798 966667 1239458 1172974 1500000 2100000 65230 375067 3587486 4614708 X 35222338 33534260 7499994 5726263 42722332 39260523 46309818 43875231 -3461809 0 X 0 1 X 1 0 X 2251395 1953790 3132678 7715568 3084901 18138332 2251395 1953790 3132678 7715568 3084901 18138332 652542 17485790 3441 798 1739 1209 497 7684 137682 169854 126808 104085 139872 678301 18824317 59449857 0.92890 0.92320 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 75000 75000 18083092 18158092 1000000 250000 0 0 942433 989595 1000000 1000000 3932028 5898042 72000 72000 72000 75000 291000 235608 247399 250000 250000 983007 1474511 34620757 12905882 21714875 15036916 5854944 9181972 1447702 1086108 361594 3794648 2269473 1525175 32783616 SECURITY DEPOSITS HELD 375067 375067 14696283 0 14696283 0 14696283 18158092 0 18158092 0 18158092 GALA BENEFIT 1011874 816879 194995 72405 122590 FAMILY BENEFIT 197150 179650 17500 17500 1209024 996529 212495 89905 122590 212495 0 X X X X X 0 0 0 0 0 0 0 0 0 CORA CAHAN PRESIDENT 510965 0 0 0 21268 0 20575 0 12208 0 565016 0 0 0 KIM DOBBIE NEUER VICE PRESIDENT, FINANCE 185447 0 0 0 0 0 12785 0 9918 0 208150 0 0 0 LISA POST EXECUTIVE VICE PRESIDENT 234723 0 0 0 0 0 18839 0 21185 0 274747 0 0 0 DEBORAH TRIMBLE VICE PRESIDENT DEVELOPMENT 200630 0 0 0 0 0 14415 0 11043 0 226088 0 0 0 MARY ROSE DIRECTOR OF ARTISTIC PROGR 170446 0 0 0 0 0 11337 0 10438 0 192221 0 0 0 JESSICA BAKER VICE PRESIDENT OPERATIONS 162675 0 0 0 0 0 10798 0 12824 0 186297 0 0 0 DAVID JENSEN DIRECTO OF PRODUCTION 144188 0 0 0 0 0 9603 0 19360 0 173151 0 0 0 X 2 4298 FAIR MARKET VALUE 0 1 0 FORM 990, PART III, LINE 1 THE NEW 42ND STREET, INC. WAS ESTABLISHED IN 1990 BY NEW YORK CITY AND STATE AS A NON-PROFIT ORGANIZATION CHARGED WITH 99-YEAR RESPONSIBILITY FOR THE REDEVELOPMENT 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 THE NOT-FOR-PROFIT NEW VICTORY THEATER, NEW YORK CITY'S PROFESSIONAL THEATER FOR KIDS AND FAMILIES, PRESENTING A YEAR-ROUND SEASON OF THE HIGHEST QUALITY PERFORMING ARTS AT AFFORDABLE TICKET PRICES, PROVIDING MODEL ARTS EDUCATION PROGRAMS AND YOUTH EMPLOYMENT OPPORTUNITIES IN THE ARTS; THE NEW 42ND STREET STUDIOS, A STATE-OF-THE-ART, 10-STORY REHEARSAL STUDIO FACILITY BUILT TO SUPPORT PERFORMING ARTISTS IN THE CREATION OF THEIR WORK; AND THE DUKE ON 42ND STREET, A 199-SEAT THEATER LOCATED WITHIN THE NEW 42ND STREET STUDIOS BUILDING. 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 A, LINE 2 BOARD MEMBERS MARIAN S. HEISKELL AND JENNIFER GUNDLACH ARE RELATED BY FAMILY. FORM 990, PART VI, SECTION B, LINE 11 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 5-YEAR 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.