2012-05-15T11:18:33-05:00 2011-06-30 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2010-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 CORA CAHAN 6462233000 2012-05-11 1 DONALD SHAEFITZ 2126972299 2010 2016-02-24 21:20:13Z CORA CAHAN 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 13389829 0 X WWW.NEW42.ORG X 1988 NY 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, 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. 29 28 339 30 2000 -61045 8457780 3293373 7787700 9636228 4379 3119 233943 394259 16483802 13326979 0 0 0 0 7336684 7869925 0 0 941968 5249899 5852591 12586583 13722516 3897219 -395537 47835259 50070577 3290270 5921125 44544989 44149452 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 NEW, 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 11831709 9999532 DURING FISCAL YEAR 2011, THE NEW 42ND STREET, INC. ("THE NEW 42") ACHIEVED ITS EXEMPT PURPOSES IN ALL OF ITS PROJECTS, PROGRAMS, VENUES AND ACTIVITIES. IN COMPLIANCE WITH THE OBLIGATIONS SET FORTH IN THE RESTATED AND AMENDED MASTER LEASE ENTERED INTO WITH THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION ON DECEMBER 13, 1996, THE NEW 42 OVERSAW THE 15TH FULL SEASON OF THE NEW VICTORY THEATER, THE NEW 42'S NON-FOR-PROFIT PERFORMING ARTS VENUE DEDICATED TO PROGRAMMING FOR YOUTH AND FAMILY AUDIENCES. THE RENOVATED THEATER OPENED TO THE PUBLIC ON DECEMBER 11, 1995. (SEE SCHEDULE O FOR CONTINUATION)IN ITS 15TH FULL SEASON, THE NEW VICTORY THEATER PRESENTED AN INTERNATIONAL AND CULTURALLY DIVERSE RANGE OF PRODUCTIONS FROM AUSTRALIA, CANADA, ENGLAND, ISRAEL, ITALY, SCOTLAND, AND THE UNITED STATES, REPRESENTING A VARIETY OF ARTISTIC GENRES. THE THEATER OFFERED 232 PUBLIC AND 92 SCHOOL PERFORMANCES OF CAPTIVATING WORK FOR YOUNG AUDIENCES THAT WERE ATTENDED BY 66,545 MEMBERS OF THE PUBLIC, AND 30,396 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 EVERONE. 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 42 NEW VICTORY TEACHING ARTISTS INTO CLASSROOMS ACROSS NYC TO CONDUCT 856 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. 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 48 YOUNG PEOPLE TO WORK IN THE THEATER. THE TWO PROGRAMS TOGETHER PROVIDED OVER 25,800 HOURS OF PAID EMPLOYMENT TO NYC YOUTH IN FY11 ALONE.NOW IN ITS 11TH 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 FY11, THIS TEN-STORY BUILDING, COMPLETED IN THE FALL OF 2000, CONTINUED TO PLAY A VITAL ROLE IN THE PERFORMING ARTS COMMUNITY. SIXTY-SEVEN 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 TOURING, BROADWAY AND OFF-BROADWAY SHOWS. IN FY11, THE DUKE ON 42ND STREET, THE BLACK BOX THEATER LOCATED ON THE 2ND FLOOR OF THE NEW 42ND STREET STUDIOS, WAS LIT WITH 13 PRODUCTIONS OVER 38 WEEKS BY 6 NOT-FOR-PROFIT DANCE AND THEATER COMPANIES, AND WAS ALTERNATELY USED BY ARTISTS AS A REHEARSAL AND WORKSHOP SPACE. 11831709 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 28 0 1 339 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 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 5150 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 DEBORAH EVANGELAKOS 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 446248 0 23372 KIM DOBBIE NEUER 40.00 X 141189 0 12996 LISA POST 40.00 X 186978 0 23122 CHERYL KOHN 40.00 X 225721 0 24056 MARY ROSE 40.00 X 133212 0 15786 JARRET HAYNES 40.00 X 141748 0 15667 DAVID JENSEN 40.00 X 116861 0 19040 ROBIN LEEDS 40.00 X 95688 0 19590 JO-ANNE BROWN 40.00 X 96474 0 18707 MICHAEL REISMAN 40.00 X 95063 0 18230 1397107 0 134039 7 0 1 0 MASQUE SOUND & RECORDING CORP 21 EAST UNION AVENUE EAST RUTHERFORD NJ 07073 SOUND EQUIPMENT AND RENTALS 588114 QUANTUM ELECTRIC CORP 36-24 34TH STREET LONG ISLAND CITY NY 11106 ELECTRICAL ENGINEERING 241501 PRG IS NEW JERSEY 915 SECAUCUS RD SECAUCUS NJ 07047 LIGHTING ENGINEER 114125 ADVANCED PRINTING OF NY INC 263 WEST 38TH STREET NEW YORK NY 10018 PRINGTING SERVICES 113743 PRG SCENIC TECHNOLOGIES PO BOX 32238 HARTFORD CT 061502238 THEATRICAL RIGGING SERVICES 100320 5 613610 1308583 1371180 166308 3293373 RENTAL & OTHER PROJECT 532000 7804912 7804912 BOX OFFICE RECEIPTS 711110 1740305 1740305 EDUCATION SERVICES REV 611710 89011 89011 ADVERTISING REVENUE 511190 2000 2000 9636228 3119 3119 49650 613610 49650 0 42155 13200 28955 28955 MISCELLANEOUS 900099 365304 365304 365304 13326979 9999532 2000 32074 1115381 583347 109552 422482 5234321 4769540 199288 265493 236341 226988 7965 1388 747798 585768 87910 74120 536084 471554 22661 41869 258262 246432 11830 46500 46500 72000 72000 49038 16930 18195 13913 933317 933317 323440 77658 230264 15518 1091369 1018679 48188 24502 78007 35334 19885 22788 49427 49427 1349329 1349329 251738 226564 25174 ARTIST FEES 879500 879500 OTHER PRODUCTION AND PR 461425 401530 59895 BOX OFFICE SALES EXPENS 9239 9239 13722516 11831709 948839 941968 6479 6706 4236746 9046683 8468424 5402976 721158 777596 22912 29215 284490 276288 48810309 14279196 34095050 34531113 47835259 50070577 670418 945780 995935 1214744 1500000 1500000 123917 2260601 3290270 5921125 X 36864453 37837443 7680536 6312009 44544989 44149452 47835259 50070577 -395537 0 X 0 1 1 X 0 X 4983801 3928210 1817774 8457780 3293373 22480938 4983801 3928210 1817774 8457780 3293373 22480938 698554 21782384 173324 84887 16360 4379 3119 282069 145455 162643 125560 202735 365303 1001696 23764703 46737693 0.91660 0.92720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72000 72000 12773677 12845677 792284 198071 0 0 810076 795007 740171 792284 3137538 4706307 72075 72000 72000 72000 288075 202519 198752 185043 198071 784385 1176578 31619921 8256292 23363629 13812875 4314630 9498245 638490 276722 361768 2739023 1431552 1307471 34531113 SECURITY DEPOSITS HELD 1260601 THEATER CAPITAL RESERVE FUND LIABILITY 1000000 2260601 13326979 13722516 -395537 0 -395537 13326979 0 13326979 0 13326979 13722516 0 13722516 0 13722516 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 537950 505980 31970 31970 FAMILY BENEFIT 125310 107630 17680 17680 663260 613610 49650 49650 49650 0 X X X X X 0 0 0 0 0 0 0 0 0 CORA CAHAN 385942 0 37188 0 23118 0 19160 0 4212 0 469620 0 0 0 KIM DOBBIE NEUER 141189 0 0 0 0 0 5714 0 7282 0 154185 0 0 0 LISA POST 186978 0 0 0 0 0 13734 0 9388 0 210100 0 0 0 CHERYL KOHN 225721 0 0 0 0 0 17341 0 6715 0 249777 0 0 0 JARRET HAYNES 141748 0 0 0 0 0 8944 0 6723 0 157415 0 0 0 X 1 166308 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.