2026-05-11T14:17:21-05:00 2025-06-30 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2024-07-01 133584032 THE NEW 42ND STREET INC NEW4 6462233000 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 RUSSELL GRANET PRESIDENT 6462233000 2026-05-15 1 0 FREDERICK MARTENS P00298107 2126972299 2024 2025-03-06 01:10:19Z RUSSELL GRANET 229 WEST 42ND STREET 10TH FLOOR NEW YORK NY 10036 36513052 0 X WWW.NEW42.ORG X 1988 NY THE NEW 42ND STREET, INC. (D/B/A NEW 42) IS A LEADING PERFORMING ARTS NONPROFIT WHOSE MISSION IS TO MAKE EXTRAORDINARY PERFORMING ARTS A VITAL PART OF EVERYONE'S LIFE FROM THE EARLIEST YEARS ONWARD. 32 29 396 32 0 0 12016630 7536412 15656780 16234242 334526 800485 25735 51391 28033671 24622530 0 0 0 0 13783352 13695852 0 0 1568274 9578343 9083838 23361695 22779690 4671976 1842840 57751397 57288808 5841052 3355776 51910345 53933032 X SEE SCHEDULE O. 0 0 17184931 16234242 THE NEW 42ND STREET, INC. (D/B/A NEW 42) WAS ESTABLISHED IN 1990 BY THE CITY AND STATE OF NEW YORK AS A NON-PROFIT ORGANIZATION AND WAS ENTRUSTED WITH 99-YEAR LEASES OF SEVEN HISTORIC THEATERS AND TWO INFILL PROPERTIES ON 42ND STREET BETWEEN 7TH AND 8TH AVENUES IN NEW YORK CITY. GUIDED BY THE PUBLIC GOAL OF RETURNING 42ND STREET TO ITS FORMER STATUS AS A LIVELY CULTURAL AND ENTERTAINMENT DESTINATION, NEW 42 OPERATES PROGRAMMING OUT OF TWO BUILDINGS UNDER ITS STEWARDSHIP: NEW VICTORY THEATER AND NEW 42 STUDIOS. NEW 42 HAS STRATEGICALLY SUBLEASED ITS REMAINING PROPERTIES TO GENERATE EARNED INCOME AND ENSURE THE ONGOING VIBRANCY OF 42ND STREET. IN OUR 2024-25 SEASON, NEW 42 MADE (CONTINUED ON SCHEDULE O) EXTRAORDINARY PERFORMING ARTS EXPERIENCES POSSIBLE FOR OVER 91,000 KIDS, FAMILIES AND ARTISTS. THROUGH OUR COMMITMENT TO ENSURE ACCESS FOR ALL, NEW VICTORY THEATER PROVIDED FREE TICKETS FOR FAMILIES RESIDING IN NEW YORK CITY HOUSING AUTHORITY (NYCHA) SITES, $2 TICKETS TO STUDENTS AS THE LARGEST PROVIDER OF LIVE PERFORMING ARTS FOR NEW YORK CITY PUBLIC SCHOOLS, AND TICKETS AVERAGING UNDER $35 FOR ALL FAMILIES DUE TO FUNDER SUBSIDIES THAT ENABLE LOW TICKET PRICES. NEW 42 STUDIOS PROVIDED REHEARSAL SPACE FOR 134 BROADWAY, OFF-BROADWAY, REGIONAL AND TOURING COMPANIES, AND THE DUKE ON 42ND STREET WELCOMED OVER 19,000 PATRONS. NEW 42 WAS RECOGNIZED FOR ITS BROAD COMMUNITY IMPACT WITH THE 2025 TONY HONOR FOR EXCELLENCE IN THE THEATRE.NEW VICTORY THEATER: THE SUMMER NEW VICTORY DANCE FESTIVAL KICKED OFF THE YEAR, SHOWCASING NINE NEW YORK-BASED DANCE COMPANIES AND ARTISTS WHO SHARED THE POWER OF DANCE WITH AUDIENCES OF ALL AGES. THE NEW VICTORY SEASON THEN PRESENTED NINE WORKS FROM FOUR COUNTRIES THAT INCLUDED SIX NEW YORK OR INTERNATIONAL PREMIERES AND INTRODUCED PUBLIC AND STUDENT AUDIENCES TO THRILLING ACROBATICS, DANCE THEATER, SHADOW PUPPETRY, FOLKLORE AND MORE. EACH PRODUCTION WAS ACCOMPANIED BY PRE- AND POST-SHOW ACTIVITIES LED BY NEW VICTORY TEACHING ARTISTS WHO ENGAGED KIDS IN ART-MAKING AND COMMUNITY-BUILDING.NEW VICTORY EDUCATION: IN THE 2024-25 SEASON, 141 PARTNER SCHOOLS FROM ACROSS ALL FIVE NEW YORK CITY BOROUGHS ENJOYED THE FULL SEASON OF BREATHTAKING PERFORMANCES THROUGH STUDENT MATINEES OFFERED BY THE NEW VICTORY THEATER FOR THE SUBSIDIZED PRICE OF $2 PER TICKET - A PRICE THAT HASN'T CHANGED SINCE THE THEATER OPENED IN 1995. CLASSROOM WORKSHOPS LED BY NEW VICTORY TEACHING ARTISTS, AND A SERIES OF EARLY CHILDHOOD ARTS EDUCATION RESOURCE GUIDES, PROMOTED ARTISTIC INQUIRY AND CREATIVITY WITHIN SCHOOL CURRICULA AND PROVIDED TEACHERS WITH PROFESSIONAL DEVELOPMENT OPPORTUNITIES. NEW 42 YOUTH CORPS: NYC'S FIRST AND LARGEST THEATER EMPLOYMENT AND SKILLS-BUILDING PROGRAM FOR YOUTH, THE YOUTH CORPS PROVIDES TARGETED, PERSONALIZED SUPPORT SYSTEMS FOR YOUNG PEOPLE AS THEY TRANSITION FROM HIGH SCHOOL THROUGH COLLEGE AND INTO THEIR CHOSEN CAREERS IN AND BEYOND THE ARTS SECTOR. THROUGH PAID PART-TIME EMPLOYMENT, LIFE/JOB SKILLS TRAINING, COLLEGE MATRICULATION AND GRADUATION ASSISTANCE, AND DIRECT MENTORSHIP WITH ARTS PROFESSIONALS, YOUTH CORPS IN 2024-25 SUPPORTED 63 YOUNG NEW YORKERS, AGES 16-24, AS THEY BEGAN TO NAVIGATE THE CHALLENGES FACED DURING THE OFTEN DIFFICULT TRANSITION INTO ADULTHOOD. 17184931 1 1 0 1 0 0 0 0 0 1 1 0 0 1 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 57 0 1 396 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 32 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X X MICHELE PAGNOTTA 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 CO-VICE CHAIR 1.00 X X 0 0 0 YEMI BENEDICT-VATEL CO-VICE CHAIR 1.00 X X 0 0 0 STEFANIE KATZ ROTHMAN SECRETARY 1.00 X X 0 0 0 ANDREW SOMMERS TREASURER 1.00 X X 0 0 0 LYNNE BIGGAR DIRECTOR 1.00 X 0 0 0 LEIGH BISHOP DIRECTOR 1.00 X 0 0 0 LILI FABLE DIRECTOR 1.00 X 0 0 0 KELLY GALANIS DIRECTOR 1.00 X 0 0 0 TIFFANY GARDNER DIRECTOR 1.00 X 0 0 0 NEIL GUPTA DIRECTOR 1.00 X 0 0 0 SHARON COPLAN HUROWITZ DIRECTOR 1.00 X 0 0 0 BILL IRWIN DIRECTOR 1.00 X 0 0 0 AMY JACOBS DIRECTOR 1.00 X 0 0 0 VINNIE KUMAR DIRECTOR 1.00 X 0 0 0 JI PARK KWAK DIRECTOR 1.00 X 0 0 0 GREG LIPPMANN DIRECTOR 1.00 X 0 0 0 JOHN LITHGOW DIRECTOR 1.00 X 0 0 0 SARAH LONG DIRECTOR 1.00 X 0 0 0 SAMMY LOPEZ DIRECTOR 1.00 X 0 0 0 ISAAC MIZRAHI 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 ELIOT RUBENZAHL DIRECTOR 1.00 X 0 0 0 MICHAEL SANCILIO DIRECTOR 1.00 X 0 0 0 MARC A SPILKER DIRECTOR 1.00 X 0 0 0 HENRY TISCH DIRECTOR 1.00 X 0 0 0 ANN UNTERBERG DIRECTOR 1.00 X 0 0 0 NICOLE WEISS DIRECTOR 1.00 X 0 0 0 CHRISTINA ZAGARINO DIRECTOR 1.00 X 0 0 0 LUCINDA ZILKHA DIRECTOR 1.00 X 0 0 0 RUSSELL GRANET PRESIDENT & CEO 40.00 X X 593358 0 80398 MICHELE PAGNOTTA VICE PRESIDENT, FINANCE 40.00 X 215022 0 50107 MARY E ROSE ARTISTIC DIRECTOR 40.00 X 237533 0 27550 WENDY M HUTTON VICE PRESIDENT, ADMINISTRATION 40.00 X 196059 0 23307 LAUREN P FITZGERALD VP, MARKETING & COMMUNICATIONS 40.00 X 186932 0 31690 COURTNEY J BODDIE VP, EDUCATION & SCHOOL ENGAGEMENT 40.00 X 156357 0 23950 VINCENT TAYLOR DIR IT, CYBER SECURITY & INFRASTRUCTURE 40.00 X 154320 0 26173 1739581 0 263175 24 0 1 0 KASIRER LLC 120 BROADWAY SUITE 1010 NEW YORK NY 10271 LOBBYING FEES 120000 1 2524040 3109814 1902558 432895 7536412 RENTAL & OTHER PROJECTS 532000 14656416 14656416 BOX OFFICE RECEIPTS 711110 1577826 1577826 16234242 478889 478889 11688787 11367191 321596 321596 321596 523331 2524040 523331 0 MISCELLANEOUS 900099 51391 51391 51391 24622530 16234242 0 851876 929185 497651 179580 251954 9889678 7685886 1456959 746833 377840 296175 50642 31023 1636936 1265496 224118 147322 862213 660431 120227 81555 272188 272188 54500 54500 120000 120000 39959 39959 829668 217454 432234 179980 991744 785829 204665 1250 1243307 378476 765390 99441 1377581 1340306 22624 14651 82263 49856 26301 6106 2128662 2128662 313135 281821 31314 ARTIST FEES 1273500 1273500 OTHER PRODUCTION AND PR 355816 321873 25784 8159 BOX OFFICE SALES EXPENS 1515 1515 22779690 17184931 4026485 1568274 1037081 1726051 249449 256423 9606897 3599166 662671 734237 26088 21900 857037 661866 70011794 40823810 30458608 29187984 8361918 12687341 6491648 8413840 57751397 57288808 1430326 1156912 1546786 1826135 2502460 0 361480 372729 5841052 3355776 X 43441548 45605530 8468797 8327502 51910345 53933032 57751397 57288808 1842840 179847 0 X 0 1 X 1 0 X 5955790 13054257 6792672 12016630 7536412 45355761 5955790 13054257 6792672 12016630 7536412 45355761 8568878 36786883 805 2605 103420 271320 478889 857039 99869 73433 92884 25735 51391 343312 46556112 69797794 0.79020 0.76650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 120000 120000 22659690 22779690 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 120000 120000 120000 120000 480000 250000 250000 250000 250000 1000000 1500000 PART II-A, LINE 1 AND 2, LOBBYING ACTIVITIES: THE ORGANIZATION ENGAGED A LOBBYIST TO REPRESENT THE ORGANIZATION BEFORE THE EXECUTIVE AND LEGISLATIVE GOVERNMENT BRANCHES OF BOTH THE STATE AND THE CITY OF NEW YORK TO SECURE FUNDING FOR THE ORGANIZATION'S CAPITAL AND PROGRAMMATIC NEEDS. 0 5000000 299515 207413 5092102 0.98190 0.01810 0 0 34858033 21887625 12970408 28271988 12774764 15497224 4411135 3978458 432677 2470638 2182963 287675 29187984 ACCRUED SUBLEASE INCOME 8413840 8413840 SECURITY DEPOSITS HELD 372729 372729 24762418 179847 179847 24582571 39959 39959 24622530 22739731 0 22739731 39959 39959 22779690 GALA BENEFIT 2896863 2419123 477740 186773 290967 FAMILY BENEFIT 150508 104917 45591 29320 3000 13271 3047371 2524040 523331 216093 3000 304238 523331 0 X X X X X X 0 1 0 0 0 0 0 0 0 RUSSELL GRANET PRESIDENT & CEO 593358 0 0 0 0 0 39500 0 40898 0 673756 0 0 0 MICHELE PAGNOTTA VICE PRESIDENT, FINANCE 215022 0 0 0 0 0 11470 0 38637 0 265129 0 0 0 MARY E ROSE ARTISTIC DIRECTOR 237533 0 0 0 0 0 12084 0 15466 0 265083 0 0 0 WENDY M HUTTON VICE PRESIDENT, ADMINISTRATION 196059 0 0 0 0 0 9907 0 13400 0 219366 0 0 0 LAUREN P FITZGERALD VP, MARKETING & COMMUNICATIONS 186932 0 0 0 0 0 9872 0 21818 0 218622 0 0 0 COURTNEY J BODDIE VP, EDUCATION & SCHOOL ENGAGEMENT 156357 0 0 0 0 0 8056 0 15894 0 180307 0 0 0 VINCENT TAYLOR DIR IT, CYBER SECURITY & INFRASTRUCT 154320 0 0 0 0 0 8056 0 18117 0 180493 0 0 0 PART II, LINE 1B RUSSELL GRANET - DEFERRED COMPENSATION UNDER SUPPLEMENTAL NONQUALIFIED PLAN -$23,000 X 5 103113 FAIR MARKET VALUE X EVENT GIFTS 31 329782 FAIR MARKET VALUE 0 0 0 0 FORM 990 PART III LINE 1, DESCRIPTION OF THE ORGANIZATION'S MISSION NEW 42 WAS FOUNDED IN 1990 TO BREATHE NEW LIFE INTO THE ICONIC 42ND STREET IN NEW YORK CITY, TRANSFORMING THE BLOCK INTO A VIBRANT AND YOUTHFUL THEATER DISTRICT. TODAY, WE CONTINUE TO SPARK AWE AND WONDER BY OPENING NEW WORLDS TO YOUNG AUDIENCES THROUGH THE NEW VICTORY THEATER, INCUBATING NEW WORKS FOR BROADWAY AND BEYOND AT THE NEW 42 STUDIOS AND PAVING NEW PATHWAYS TO CREATIVE CAREERS THROUGH OUR ARTIST MENTORSHIP AND YOUTH WORKFORCE DEVELOPMENT PROGRAMS. NEW VICTORY THEATER IS NEW YORK CITY'S PREMIER THEATER FOR KIDS AND FAMILIES AND IS DEDICATED TO ENSURING ARTS ACCESS FOR ALL COMMUNITIES OF NEW YORK TO EXPERIENCE AND ENGAGE WITH THE EXEMPLARY INTERNATIONAL SHOWS ON ITS STAGES. NEW 42 STUDIOS IS A STATE-OF-THE-ART, 10-STORY REHEARSAL STUDIO FACILITY WHICH INCLUDES A 199-SEAT BLACK BOX THEATER, THE DUKE ON 42ND STREET. THE ORGANIZATION ALSO STEWARDS SEVEN HISTORIC THEATER PROPERTIES ON 42ND STREET, ENSURING THE LEGACY AND VITALITY OF AMERICA'S MOST ICONIC THEATER DISTRICT. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP BETWEEN FIONA HOWE RUDIN, CHAIR, AND NEIL GUPTA, DIRECTOR. FORM 990, PART VI, SECTION B, LINE 11B 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 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.