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Arts, Culture, Humanities : Performing Arts

New 42nd Street

Overseeing the redevelopment of 42nd Street

four stars

91.77

229 West 42nd Street 10th Floor
New York, NY 10036
tel: (646) 223-3000   Web Site
EIN: 13-3584032

Board Leadership
Fiona Howe Rudin
Chairman

CEO
Cora Cahan
President

 
 
  Score
(out of 100)
Rating
Overall Score & Rating 91.77 four stars
  Financial 90.71 four stars
  Accountability & Transparency 93.00 four stars
This rating was published 02/01/2018 and includes data from FY2016, the most recent 990 received at that time.

The New 42nd Street was established in 1990 by New York City and State to redevelop the area of 42nd Street and Times Square through the revitalization of 42nd Street's historic theaters. Under a 99-year lease, the New 42nd Street was created to assume long-term responsibility and oversight for seven historic theaters on the block; Victory, Times Square, Selwyn, Lyric, Liberty, Empire, and Apollo. From the 1995 opening of The New Victory Theater through the recent addition of the New 42nd Street Studios, theater, music, and dance professionals, as well as visitors to the City, once again have joined the flow of New Yorkers on this reinvented, reinvigorated new 42nd Street.

The New 42nd Street was established in 1990 by New York City and State to redevelop the area of 42nd Street and Times Square through the revitalization of 42nd Street's historic theaters. Under a 99-year lease, the New 42nd Street was created to assume long-term responsibility and oversight for seven historic theaters on the block; Victory, Times Square, Selwyn, Lyric, Liberty, Empire, and Apollo. From the 1995 opening of The New Victory Theater through the recent addition of the New 42nd Street Studios, theater, music, and dance professionals, as well as visitors to the City, once again have joined the flow of New Yorkers on this reinvented, reinvigorated new 42nd Street.

Financial

four stars

90.71

Accountability & Transparency

four stars

93.00

This rating was published 02/01/2018 and includes data from FY2016, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
86.6%
  Administrative Expenses 6.3%
  Fundraising Expenses 6.9%
  Fundraising Efficiency $0.25
  Working Capital Ratio (years) 2.26
  Program Expenses Growth 3.7%
  Liabilities to Assets 10.5%
All data for Financial Performance Metrics calculations was provided by New 42nd Street on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by New 42nd Street on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
New 42nd Street (NY) 91.77 four stars
Segerstrom Center for the Arts (CA) 89.82 three stars
Lincoln Center for the Performing Arts (NY) 90.26 four stars
Jacob Burns Film Center (NY) 94.09 four stars
New Jersey Performing Arts Center (NJ) 94.89 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $1,520,872
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $996,529
   Related Organizations $0
   Government Grants $567,500
Total Contributions $3,084,901
   Program Service Revenue $11,422,790
Total Primary Revenue $14,507,691
   Other Revenue $188,592
TOTAL REVENUE $14,696,283
   
EXPENSES  
   Program Expenses $15,661,223
   Administrative Expenses $1,150,160
   Fundraising Expenses $1,346,709
TOTAL FUNCTIONAL EXPENSES $18,158,092
   
Payments to Affiliates $0
Excess (or Deficit) for the year $-3,461,809
   
Net Assets $39,260,523

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
New Victory Theater $15,661,223 100.0%

Ratings History
New 42nd Street has received 3 consecutive 4-star ratings from Charity Navigator.

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2016-06 02/01/2018 91.77 four stars
2015-06 12/01/2016 92.40 four stars
2014-06 06/01/2016 90.58 four stars
 
CN 2.0
2014-06 04/14/2016 90.04 four stars
2014-06 11/01/2015 87.70 three stars
2013-06 02/01/2015 86.01 three stars
2012-06 12/01/2013 89.00 three stars
2011-06 10/01/2012 86.81 three stars
2010-06 11/01/2011 84.96 three stars
2009-06 09/20/2011 78.89 two stars
 
CN 1.0
2009-06 12/01/2010 82.30 three stars
2008-06 02/01/2010 90.54 four stars
2007-06 06/01/2009 89.82 three stars
2006-06 09/01/2007 88.17 three stars
2005-06 10/01/2006 70.40 two stars
2004-06 11/01/2005 83.80 three stars
2003-06 11/01/2004 77.28 two stars
2002-06 11/01/2003 78.56 two stars
2001-06 10/15/2002 79.36 two stars

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 13-3584032
Name in IRS Master File NEW 42ND STREET INC
NTEE Code A19
NTEE Classification Nonmonetary Support N.E.C.*
NTEE Type Arts, Culture and Humanities
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (62) Historical site, records or reenactment
(90) Cultural performances
(119) Other cultural or historical activities
Foundation Status Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date October, 1990
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End June
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • June, 2017
  • June, 2016
  • June, 2015
  • June, 2014
  • June, 2013

The data displayed in this profile is provided by the IRS for free in the form of Publication 78 and the Business Master File (BMF).

Compensation % of Expenses Paid to Title
$532,233 2.93% Cora Cahan President

Highly Rated

Charity Name & State Overall Score Overall Rating
New 42nd Street (NY) 91.77 four stars
Stamford Center for the Arts (CT) 86.08 three stars
Performing Arts Fort Worth/Bass Performance Hall (TX) 95.05 four stars
Boch Center (MA) 92.61 four stars
Strathmore (MD) 89.87 three stars

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Charity Contact Info

New 42nd Street
229 West 42nd Street
10th Floor
New York, NY 10036
tel: (646) 223-3000
EIN: 13-3584032

Visit Web Site

Board Leadership

Fiona Howe Rudin
Chairman

CEO

Cora Cahan
President

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