2013-05-14T12:40:58-05:00 2012-06-30 131655065 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2011-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 CORA CAHAN 6462233000 2013-05-08 1 DONALD SHAEFITZ P00449034 2126972299 2013-05-08 2011 2016-02-24 21:20:13Z CORA CAHAN 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 14046117 0 X WWW.NEW42.ORG X 1988 NY THE NEW 42ND STREET LEADS THE DYNAMIC EVOLUTION OF THE REINVENTED 42ND STREET, CULTIVATING A UNIQUE CULTURAL AND ENTERTAINMENT DESTINATION AT THE "CROSSROADS OF THE WORLD" THROUGH ITS PROJECTS: THE NEW VICTORY THEATER, THE NEW 42ND STREET STUDIOS, AND THE DUKE ON 42ND STREET. 29 28 368 29 4800 -63638 3293373 2251395 9636228 11547617 3119 3441 394259 172098 13326979 13974551 0 0 0 0 7869925 8810842 0 0 1259820 5852591 6396362 13722516 15207204 -395537 -1232653 50070577 50004511 5921125 7087712 44149452 42916799 X 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 AN UNRIVALED CULTURAL ENTERTAINMENT CENTER, THE NEW 42ND STREET, INC. OPERATES THE NOT-FOR-PROFIT NEW VICTORY THEATER, PRESENTING A YEAR-ROUND SEASON OF HIGH-QUALITY, PROFESSIONAL PERFORMING ARTS PROGRAMMING FOR YOUTH AND FAMILY AUDIENCES; THE NEW 42ND STREET STUDIOS, A STATE-OF-THE-ART, 10-STORY REHEARSAL STUDIO FACILITY BUILT TO SERVE THE PERFORMING ARTISTS OF THE 21ST CENTURY; AND THE DUKE ON 42ND STREET, A 199-SEAT THEATER LOCATED WITHIN THE NEW 42ND STREET STUDIOS BUILDING; WHILE STRATEGICALLY SUBLEASING ITS REMAINING PROPERTIES TO CREATE A DYNAMIC MIX OF PREMIER ENTERTAINMENT DESTINATIONS ON THIS WORLD-FAMOUS BLOCK. 0 0 12832413 11685299 IN ITS 16TH FULL SEASON, THE NEW VICTORY THEATER PRESENTED AN INTERNATIONAL AND CULTURALLY DIVERSE RANGE OF PRODUCTIONS FROM ARGENTINA, AUSTRALIA, BRAZIL, CHINA, THE NETHERLANDS, SCOTLAND, AND THE UNITED STATES, REPRESENTING A VARIETY OF ARTISTIC GENRES. THE THEATER OFFERED 238 PUBLIC AND 101 SCHOOL PERFORMANCES OF CAPTIVATING WORK FOR YOUNG AUDIENCES THAT WERE ATTENDED BY 65,271 MEMBERS OF THE PUBLIC, AND 35,541 STUDENTS AND TEACHERS. TICKET PRICES FOR PUBLIC SHOWS RANGED FROM $9 TO A MAXIMUM OF $55 FOR A SPECIAL HOLIDAY PRESENTATION - AN AVERAGE OF $18 OVERALL - 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 47 ... NEW VICTORY TEACHING ARTISTS INTO CLASSROOMS ACROSS NYC TO CONDUCT 827 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 CURRICULUM RESOURCE GUIDES FOR EVERY PRODUCTION IN THE SEASON. FY 12 ALSO MARKED THE THIRD YEAR OF THE NEW VICTORY'S "BRING YOUR FAMILY" PROGRAM, IN WHICH STUDENTS IN TITLE 1 SCHOOLS ARE ABLE TO COME TO WEEKEND PERFORMANCES AT THE THEATER FOR FREE, AND BRING FAMILY MEMBERS FOR ONLY $5 PER TICKET. THIS SEASON, 164 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 35 HIGH SCHOOL AND COLLEGE-AGE STUDENTS THROUGHOUT THE COURSE OF THE YEAR, AND THE NEW VICTORY "USHER CORPS" PROGRAM - A 3-YEAR ON-THE-JOB TRAINING PROGRAM - EMPLOYED 46 YOUNG PEOPLE TO WORK IN THE THEATER. THE TWO PROGRAMS TOGETHER PROVIDED OVER 26,000 HOURS OF PAID EMPLOYMENT TO NYC YOUTH IN FY 12 ALONE. THIS PAST YEAR, THE NEW VICTORY ALSO LAUNCHED THE NEW VICTORY THEATER LABWORKS PROGRAM, A NEW INITIATIVE CREATED TO SPUR THE DEVELOPMENT OF HIGH-QUALITY PERFORMING ARTS FOR YOUNG AUDIENCES THROUGH ADVOCACY, PROFESSIONAL DEVELOPMENT, AND NEW WORK DEVELOPMENT.NOW IN ITS 12TH YEAR OF OPERATIONS, THE NEW 42ND STREET'S NOT-FOR-PROFIT NEW 42ND STREET STUDIOS IS ADMINISTRATIVE HOME TO SIX NOT-FOR-PROFIT CULTURAL ORGANIZATIONS, AND ANNUALLY PROVIDES YEAR-ROUND, STATE-OF-THE-ART REHEARSAL AND PERFORMANCE SPACE TO COUNTLESS PERFORMING ARTISTS. IN FY 12, THIS TEN-STORY BUILDING, COMPLETED IN THE FALL OF 2000, CONTINUED TO PLAY A VITAL ROLE IN THE PERFORMING ARTS COMMUNITY. DURING THE YEAR, THE DUKE ON 42ND STREET, THE BLACK BOX THEATER LOCATED ON THE 2ND FLOOR OF THE NEW 42ND STREET STUDIOS, WAS LIT WITH 7 PRODUCTIONS OVER 23 WEEKS BY 4 NOT-FOR-PROFIT DANCE AND THEATER COMPANIES, AND ONE COMMERCIAL PRODUCTION THAT RAN FOR 9 WEEKS. THE THEATER WAS ALTERNATELY USED BY ARTISTS AS A REHEARSAL AND WORKSHOP SPACE. ADDITIONALLY, 105 NOT-FOR-PROFIT DANCE, THEATER AND OPERA COMPANIES HELD REHEARSALS, AUDITIONS OR SHOWCASES IN THE NEW 42ND STREET STUDIOS, AND THEY WERE JOINED BY MANY BROADWAY, OFF-BROADWAY AND TOURING SHOWS. 12832413 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 0 1 39 0 1 368 1 1 1 0 0 0 0 1 1 0 0 0 0 X 29 28 1 0 0 0 0 0 0 1 1 0 0 1 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 MARIAN S HEISKELL 1.00 X X 0 0 0 SHAHARA AHMAD-LLEWELLYN 1.00 X X 0 0 0 FIONA HOWE RUDIN 1.00 X X 0 0 0 CHARLES A PLATT 1.00 X X 2488 0 0 DOROTHY L ALPERT 1.00 X X 0 0 0 STACEY BASH-POLLEY 1.00 X 0 0 0 LYNNE BIGGAR 1.00 X 0 0 0 PHOEBE CATES KLINE 1.00 X 0 0 0 J WALTER CORCORAN 1.00 X 0 0 0 ANNE B EHRENKRANZ 1.00 X 0 0 0 ANDREW SOMMERS 1.00 X 0 0 0 LILI FABLE 1.00 X 0 0 0 CLARE R GREGORIAN 1.00 X 0 0 0 HENRY GUETTEL 1.00 X 0 0 0 JENNIFER A GUNDLACH 1.00 X 0 0 0 BILL IRWIN 1.00 X 0 0 0 MING CHO LEE 1.00 X 0 0 0 SARAH LONG SOLOMON 1.00 X 0 0 0 CRYSTAL MCCRARY 1.00 X 0 0 0 TERRENCE MCNALLY 1.00 X 0 0 0 LAURA O'DONOHUE 1.00 X 0 0 0 TINA RAMIREZ 1.00 X 0 0 0 REBECCA ROBERTSON 1.00 X 0 0 0 CHARLES SHORTER 1.00 X 0 0 0 MARC A SPILKER 1.00 X 0 0 0 EDWARD F TORRES 1.00 X 0 0 0 THEODORE R WAGNER 1.00 X 0 0 0 CARL WEISBROD 1.00 X 0 0 0 BRENDA EARL 1.00 X 0 0 0 CORA CAHAN 40.00 X X 634311 0 27404 KIM DOBBIE NEUER 40.00 X 147734 0 17708 LISA POST 40.00 X 195397 0 25075 CHERYL KOHN 40.00 X 232839 0 25772 MARY ROSE 40.00 X 139352 0 17400 JARRET HAYNES 40.00 X 148052 0 17390 DAVID JENSEN 40.00 X 121265 0 21572 JO-ANNE BROWN 40.00 X 105344 0 16098 MICHAEL REISMAN 40.00 X 108500 0 12062 1835282 0 180481 10 0 1 0 BIG SHOW 231 WEST 29TH STREET 504 NEW YORK NY 10001 SIGNAGE DESIGN 750029 PAUL WEISS RIFKIND WHARTON & GARRISON LL 1285 6TH AVENUE NEW YORK NY 10019 LEGAL FEES 218361 CREATIVE BOOKING AGENCY INC 9461 WILSHIRE BLVD BEVERLY HILLS CA 90212 ARTIST FEES 185000 WHEELWORK ARTS 1301 DESERT HILLS DRIVE LAS VEGAS NV 89117 ARTIST FEES 165313 MABOU MINES DEVELOPMENT FOUNDATION 150 1ST AVENUE NEW YORK NY 10009 ARTIST FEES 125531 5 541779 384342 1325274 2251395 RENTAL & OTHER PROJECT 532000 9605463 9605463 BOX OFFICE RECEIPTS 711110 1799466 1799466 EDUCATION SERVICES REV 611710 87688 87688 PRODUCTION ENHANCEMENT 512000 55000 55000 11547617 3441 3441 58984 541779 58984 0 42198 12582 29616 29616 MISCELLANEOUS 900099 137682 137682 ADVERTISING REVENUE 511190 4800 4800 142482 13974551 11685299 4800 33057 1488395 684093 134342 669960 5668300 5166377 219223 282700 238004 214072 9490 14442 845589 688235 106412 50942 570554 507974 15505 47075 71208 56394 14814 51030 51030 72000 72000 221144 17210 161594 42340 1032928 1032928 282687 75352 193832 13503 1100592 1035901 47950 16741 102128 39838 27680 34610 36349 36349 1534572 1534572 247501 222751 24750 ARTIST FEES 1142501 1142501 0 0 OTHER PRODUCTION AND PR 492672 405165 0 87507 BOX OFFICE SALES EXPENS 9050 9050 0 0 15207204 12832413 1114971 1259820 6706 5807 9046683 8947312 5402976 5533297 777596 677827 29215 15411 276288 266204 50183693 15625040 34531113 34558653 50070577 50004511 945780 901117 1214744 1324549 1500000 1500000 2260601 3362046 5921125 7087712 X 37837443 37903821 6312009 5012978 44149452 42916799 50070577 50004511 -1232653 0 X 0 1 1 X 0 X 3928210 1817774 8457780 3293373 2251395 19748532 3928210 1817774 8457780 3293373 2251395 19748532 1164036 18584496 84887 16360 4379 3119 3441 112186 162643 125560 202735 365304 137682 993924 20854642 48931118 0.89110 0.91660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72000 72000 14092233 14164233 858212 214553 0 0 795007 740171 792284 858212 3185674 4778511 72000 72000 72000 72000 288000 198752 185043 198071 214553 796419 1194629 32790059 9155202 23634857 13060910 4613281 8447629 1207642 283522 924120 3125082 1573035 1552047 34558653 SECURITY DEPOSITS HELD 2362046 THEATER CAPITAL RESERVE FUND LIABILITY 1000000 3362046 13974551 15207204 -1232653 -1232653 13974551 0 13974551 0 13974551 15207204 0 15207204 0 15207204 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 425125 384441 40684 40684 FAMILY BENEFIT 175638 157338 18300 18300 600763 541779 58984 58984 58984 0 X X X X X 0 0 0 0 0 0 0 0 0 CORA CAHAN 461193 0 150000 0 23118 0 19160 0 8244 0 661715 0 0 0 KIM DOBBIE NEUER 147734 0 0 0 0 0 9590 0 8118 0 165442 0 0 0 LISA POST 195397 0 0 0 0 0 14593 0 10482 0 220472 0 0 0 CHERYL KOHN 232839 0 0 0 0 0 18060 0 7712 0 258611 0 0 0 MARY ROSE 139352 0 0 0 0 0 8800 0 8600 0 156752 0 0 0 JARRET HAYNES 148052 0 0 0 0 0 9590 0 7800 0 165442 0 0 0 X 1 25407 FAIR MARKET VALUE 0 1 0 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 AND PROVIDED FOR REVIEW 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 UPON REQUEST.