Arts, Culture, Humanities : Performing Arts

New 42nd Street

Overseeing the redevelopment of 42nd Street

impact data icon

Impact Information is available from our partner, GuideStar

four stars

91.72

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 91.72 four stars
  Financial 90.63 four stars
  Accountability & Transparency 93.00 four stars
This rating was published 09/03/2019 and includes data from FY2018, 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.

Impact Information

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Reported Results
Total in 2018
Number of young people who benefit from employment through our Youth Corps programs each year
100
Number of school kids who attend a performance at The New Victory annually
40,000
Number of schools that participate in our Education Program
200
This impact information is current as of September 2019, when it was provided to us by GuideStar. At this time, Impact information published on this organization's page has no effect on its rating per our methodology.

Financial

four stars

90.63

Accountability & Transparency

four stars

93.00

This rating was published 09/03/2019 and includes data from FY2018, 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 6.2%
  Fundraising Expenses 6.7%
  Fundraising Efficiency $0.25
  Working Capital Ratio (years) 2.15
  Program Expenses Growth 2.6%
  Liabilities to Assets 14.6%
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.
REVENUE  
Contributions  
   Contributions, Gifts & Grants $1,551,281
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $846,180
   Related Organizations $0
   Government Grants $3,169,152
Total Contributions $5,566,613
   Program Service Revenue $12,785,749
Total Primary Revenue $18,352,362
   Other Revenue $194,509
TOTAL REVENUE $18,546,871
   
EXPENSES  
   Program Expenses $15,997,118
   Administrative Expenses $1,158,223
   Fundraising Expenses $1,136,337
TOTAL FUNCTIONAL EXPENSES $18,291,678
   
Payments to Affiliates $0
Excess (or Deficit) for the year $255,193
   
Net Assets $39,257,088

Charts

Compensation % of Expenses Paid to Title
$559,475 3.05% Cora Cahan President

Mission

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.

Highly Rated

Charity Name & State Overall Score Overall Rating
New 42nd Street (NY) 91.72 four stars
Playhouse Square Foundation (OH) 89.94 three stars
Performing Arts Fort Worth/Bass Performance Hall (TX) 95.05 four stars
Appell Center for the Performing Arts (PA) 86.05 three stars
Livermore Valley Performing Arts Center (CA) 93.21 four stars

Compare These Charities (Highly Rated)

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