2015-05-13T09:05:44-05:00 2014-06-30 131655065 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2013-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 CORA CAHAN PRESIDENT 6462233000 2015-05-11 1 DONALD SHAEFITZ P00449034 2126972299 2013 2016-03-07 17:11:31Z CORA CAHAN 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 17646724 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. 29 28 375 31 10000 -36945 1953790 3132678 11650972 14160260 798 1739 218402 174058 13823962 17468735 0 0 0 0 8892775 9255245 0 0 1106536 6955877 7536653 15848652 16791898 -2024690 676837 48117994 46209839 7225885 4640893 40892109 41568946 X SEE SCHEDULE O 0 0 14633449 14287068 IN ITS 18TH FULL SEASON, THE NEW VICTORY THEATER PRESENTED AN INTERNATIONAL AND CULTURALLY DIVERSE RANGE OF PRODUCTIONS FROM AUSTRALIA, DENMARK, ITALY, THE NETHERLANDS, NORTHERN IRELAND, TANZANIA AND THE UNITED STATES, REPRESENTING A VARIETY OF ARTISTIC GENRES. THE THEATER OFFERED 218 PUBLIC AND 95 SCHOOL PERFORMANCES OF CAPTIVATING WORK FOR YOUNG AUDIENCES THAT WERE ATTENDED BY 64,500 MEMBERS OF THE PUBLIC, AND 29,219 STUDENTS AND TEACHERS. REGULAR TICKET PRICES FOR PUBLIC SHOWS RANGED FROM $9 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 PARNTERSHIP PROGRAM ALSO SENT 50 NEW VICTORY ... TEACHING ARTISTS INTO CLASSROOMS ACROSS NYC TO CONDUCT 1,172 PRE-AND POST-PERFORMANCE WORKSHOPS AT NO COST TO KIDS, TEACHERS OR SCHOOLS, AND TEACHERS PARTICIPATING ALSO RECEIVED FREE PROFESSIONAL DEVELOPMENT FROM NEW VICTORY STAFF AND TEACHING ARTISTS, AND ACCESS TO NEW YORK VICTORY SCHOOL TOOL CURRICULUM RESOURCE GUIDES FOR EVERY PRODUCTION IN THE SEASON. FY 14 ALSO MARKED THE FIFTH 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, 193 FAMILIES WERE ABLE TO ATTEND PERFORMANCES AT THE NEW VICTORY THROUGH THIS PROGRAM, MANY OF THEM NON-ENGLISH SPEAKERS AND FIRST-TIME THEATER GOERS. IN ADDITION, THE NEW VICTORY THEATER'S PAID APPRENTICE PROGRAM PROVIDED TRAINING IN THEATER, OFFICE AND PRODUCTION SKILLS FOR 34 HIGH SCHOOL AND COLLEGE-AGE STUDENTS THROUGHOUT THE COURSE OF THE YEAR, AND THE NEW VICTORY "USHER CORPS" PROGRAM - A THREE YEAR ON-THE-JOB TRAINING PROGRAM-EMPLOYED 49 YOUNG PEOPLE TO WORK IN THE THEATER. THE TWO PROGRAMS TOGETHER PROVIDED OVER 26,000 HOURS OF PAID EMPLOYMENT TO NYC YOUTH IN FY 14 ALONE. THIS YEAR ALSO MARKED THE SECOND YEAR OF THE NEW VICTORY LABWORKS RESIDENCY PROGRAM, AN INITIATIVE CREATED TO FOSTER THE DEVELOPMENT OF INNOVATIVE WORK FOR FAMILY AUDIENCES AND ADVOCATE FOR THE IMPORTANCE OF HIGH-QUALITY PERFORMING ARTS FOR YOUNG PEOPLE. THROUGH THIS PROGRAM, SELECTED NYC-BASED ARTISTS RECEIVE SPACE, SUPPORT AND FEEDBACK, INCLUDING PRESENTATIONS OR OPEN REHEARSALS FOR INVITED AUDIENCES OF NEW VICTORY MEMBER FAMILIES.THE NEW 42ND STREET'S NOT-FOR-PROFIT NEW 42ND STREET STUDIOS, NOW IN ITS 14TH YEAR OF OPERATIONS, IS ADMINSTRATIVE 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, CONTINUES TO PLAY A VITAL ROLE IN THE PERFORMING ARTS COMMUNITY. IN FY 14, 122 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 TWO PRODUCTIONS OVER 8 WEEKS BY NOT-FOR-PROFIT THEATER COMPANIES, AND ONE COMMERICAL PRODUCTION, WHICH RAN FOR 10 WEEKS. THE THEATER WAS ALTERNATELY USED BY ARTISTS AS A REHEARSAL AND WORKSHOP SPACE. 14633449 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 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 53 0 1 375 1 1 1 0 0 0 0 1 1 0 0 X 29 28 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X KIM DOBBIE NEUER VICE PRESIDENT FINANCE 6462233000 229 WEST 42ND STREET NEW YORK NY 100367299 FIONA HOWE RUDIN CHAIRMAN 1.00 X X 0 0 0 SHAHARA AHMAD-LLEWELLYN VICE CHAIR 1.00 X X 0 0 0 CHARLES A PLATT SECRETARY 1.00 X X 0 0 0 DOROTHY L ALPERT TREASURER 1.00 X X 0 0 0 STACY BASH-POLLEY DIRECTOR 1.00 X 0 0 0 HERMAN A BERLINER DIRECTOR 1.00 X 0 0 0 LYNNE BIGGAR DIRECTOR 1.00 X 0 0 0 J WALTER CORCORAN DIRECTOR 1.00 X 0 0 0 ANNE B EHRENKRANZ DIRECTOR 1.00 X 0 0 0 LILI FABLE DIRECTOR 1.00 X 0 0 0 CLARE R GREGORIAN DIRECTOR 1.00 X 0 0 0 HENRY GUETTEL DIRECTOR 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 MING CHO LEE DIRECTOR 1.00 X 0 0 0 SARAH LONG SOLOMON DIRECTOR 1.00 X 0 0 0 CRYSTAL MCCRARY 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 REBECCA ROBERTSON DIRECTOR 1.00 X 0 0 0 ISABEL ROSE DIRECTOR 1.00 X 0 0 0 CHARLES SHORTER DIRECTOR 1.00 X 0 0 0 ANDREW SOMMERS DIRECTOR 1.00 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 1.00 X 0 0 0 CARL WEISBROD DIRECTOR 1.00 X 0 0 0 SHARON COPLAN HUROWITZ DIRECTOR 1.00 X 0 0 0 CORA CAHAN PRESIDENT 40.00 X X 489190 0 31214 KIM DOBBIE NEUER VICE PRESIDENT, FINANCE 40.00 X 165652 0 20484 LISA POST EXECUTIVE VICE PRESIDENT 40.00 X 216189 0 34996 DEBORAH TRIMBLE VICE PRESIDENT DEVELOPMENT 40.00 X 182368 0 14347 MARY ROSE DIRECTOR OF PROGRAMMING 40.00 X 150872 0 19314 DAVID JENSEN DIRECTOR OF PRODUCTION 40.00 X 129654 0 25957 LAUREN FITZGERALD DIRECTOR OF MARKETING & COMMUNICATIONS 40.00 X 121172 0 15464 ROBIN LEEDS DIRECTOR OF TICKET OPERATIONS 40.00 X 104174 0 27786 PETER LIMA SYSTEMS ADMINISTRATOR 40.00 X 107067 0 14954 1666338 0 204516 10 0 1 0 PRESERV RESTORATION MANAGEMENT INC 96 14TH STREET BROOKLYN NY 11215 GENERAL CONTRACTOR 426450 JOHN TIEDEMANN INC 330 BELLEVILLE TURNPIKE NORTH ARLINGTON NJ 07031 GENERAL CONTRACTOR 255306 PRESIDIO NETWORKED SOLUTIONS LLC-BLUEWA PO BOX 842893 BOSTON MA 02284 COMPUTER TECHNCIANS 170422 FKP SCORPIO KONZERTPRODUKTIONEN GMBH HAMBURG HAMBURG GM ARTIST FEE 142000 ARTS AND CULTURE NETWORK INC DBA WIT M PO BOX 3534 GCS NEW YORK NY 10163 ADVERTISING 132607 8 937542 332550 1862586 57710 3132678 RENTAL & OTHER PROJECTS 532000 9504328 9504328 RENTAL INCOME - LEASE TERMINATION 532000 2656337 2656337 BOX OFFICE RECEIPTS 711110 1908425 1908425 EDUCATION SERVICES REVENUE 611710 91170 91170 14160260 1739 1739 149078 937542 149078 0 66161 28911 37250 37250 MISCELLANEOUS 900099 126808 126808 ADVERTISING REVENUE 511190 10000 10000 136808 17468735 14287068 10000 38989 1182376 666256 124257 391863 6250626 5609606 238422 402598 238975 212288 9561 17126 958058 778060 115229 64769 625210 547702 25089 52419 167172 162164 5008 45000 45000 72000 72000 313490 151605 147874 14011 1117510 1117510 427708 215360 187277 25071 1612777 1612767 10 92022 40486 28465 23071 27982 27982 1614788 1614788 257390 231651 25739 ARTIST FEES 1158200 1158200 OTHER PRODUCTION AND PR 616167 500559 115608 BOX OFFICE SALES EXPENS 14447 14447 16791898 14633449 1051913 1106536 5807 5832 8509730 6896526 5475754 5845779 524368 589820 11514 10159 315021 375664 51309892 18823833 33275800 32486059 48117994 46209839 781369 1033275 1463876 1049003 1500000 1500000 3480640 1058615 7225885 4640893 X 36587594 38131693 4304515 3437253 40892109 41568946 48117994 46209839 676837 0 X 0 1 X 1 0 X 8457780 3293373 2251395 1953790 3132678 19089016 8457780 3293373 2251395 1953790 3132678 19089016 1310282 17778734 4379 3119 3441 798 1739 13476 202735 365304 137682 169854 126808 1002383 20104875 54821472 0.88430 0.88270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72000 72000 16719898 16791898 989595 247399 0 0 792284 858212 942433 989595 3582524 5373786 72000 72000 72000 72000 288000 198071 214553 235608 247399 895631 1343447 32790059 10964700 21825359 13398195 5206998 8191197 1571727 763779 807948 3549911 1888356 1661555 32486059 SECURITY DEPOSITS HELD 58615 THEATER CAPITAL RESERVE FUND 1000000 1058615 X 17468735 0 17468735 0 17468735 16791898 0 16791898 0 16791898 PART X, LINE 2: MANAGEMENT HAS EVALUATED ALL INCOME TAX POSITIONS AND CONCLUDED THAT NO DISCLOSURES RELATING TO UNCERTAIN TAX POSITIONS ARE REQUIRED IN THE FINANCIAL STATEMENTS. GALA BENEFIT 901020 771483 129537 69502 60035 FAMILY BENEFIT 185600 166059 19541 0 17000 2541 1086620 937542 149078 86502 62576 149078 0 X X X X X 0 0 0 0 0 0 0 0 0 CORA CAHAN PRESIDENT 468672 0 0 0 20518 0 19815 0 11399 0 520404 0 0 0 KIM DOBBIE NEUER VICE PRESIDENT, FINANCE 165652 0 0 0 0 0 11065 0 9419 0 186136 0 0 0 LISA POST EXECUTIVE VICE PRESIDENT 216189 0 0 0 0 0 16979 0 18017 0 251185 0 0 0 DEBORAH TRIMBLE VICE PRESIDENT DEVELOPMENT 182368 0 0 0 0 0 1644 0 12703 0 196715 0 0 0 MARY ROSE DIRECTOR OF PROGRAMMING 150872 0 0 0 0 0 9615 0 9699 0 170186 0 0 0 DAVID JENSEN DIRECTOR OF PRODUCTION 129654 0 0 0 0 0 8290 0 17667 0 155611 0 0 0 X 2 57710 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 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 WIHIN 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, WITH THE EXCEPTION OF SCHEDULE B, 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 5-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.