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Arts, Culture, Humanities : Performing Arts

New 42nd Street

Overseeing the redevelopment of 42nd Street

91.24

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
Russell Granet
President, CEO

 
 
  Score
(out of 100)
Rating
Overall Score & Rating 91.24
  Financial 89.79
  Accountability & Transparency 93.00
This rating was published 05/01/2021 and includes data from FY2019, 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

89.79

Accountability & Transparency

93.00

This rating was published 05/01/2021 and includes data from FY2019, 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)
87.0%
  Administrative Expenses 6.6%
  Fundraising Expenses 6.2%
  Fundraising Efficiency $0.23
  Working Capital Ratio (years) 2.00
  Program Expenses Growth 4.3%
  Liabilities to Assets 16.9%
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) 91.24
Playhouse Square Foundation (OH) 86.21
Jacob Burns Film Center (NY) 93.98
McCallum Theatre (CA) 86.01
Appell Center for the Performing Arts (PA) 85.14

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $2,243,985
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $1,111,067
   Related Organizations $0
   Government Grants $1,033,860
Total Contributions $4,388,912
   Program Service Revenue $14,913,149
Total Primary Revenue $19,302,061
   Other Revenue $180,763
TOTAL REVENUE $19,482,824
   
EXPENSES  
   Program Expenses $17,765,569
   Administrative Expenses $1,537,689
   Fundraising Expenses $1,278,441
TOTAL FUNCTIONAL EXPENSES $20,581,699
   
Payments to Affiliates $0
Excess (or Deficit) for the year $-1,098,875
   
Net Assets $38,158,213

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 $17,765,569 100.0%

Ratings History
New 42nd Street has received 6 consecutive 4-star ratings from Charity Navigator.

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2019-06 05/01/2021 91.24
2018-06 09/03/2019 91.72
2017-06 10/01/2018 91.30
2016-06 02/01/2018 91.77
2015-06 12/01/2016 92.40
2014-06 06/01/2016 90.58
 
CN 2.0
2014-06 04/14/2016 90.04
2014-06 11/01/2015 87.70
2013-06 02/01/2015 86.01
2012-06 12/01/2013 89.00
2011-06 10/01/2012 86.81
2010-06 11/01/2011 84.96
2009-06 09/20/2011 78.89
 
CN 1.0
2009-06 12/01/2010 82.30
2008-06 02/01/2010 90.54
2007-06 06/01/2009 89.82
2006-06 09/01/2007 88.17
2005-06 10/01/2006 70.40
2004-06 11/01/2005 83.80
2003-06 11/01/2004 77.28

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
Compensation % of Expenses Paid to Title
$569,166 2.76% Cora Cahan President

Highly Rated

Charity Name & State Overall Score Overall Rating
New 42nd Street (NY) 91.24
Kansas City Starlight Theatre (MO) 88.00
Bryn Mawr Film Institute (PA) 91.13
Film Forum (NY) 88.52
The Schubert Club (MN) 86.81

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This charity has an official representative registered with Charity Navigator.

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

Russell Granet
President, CEO

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