Overview
What is The New 42nd Street Inc?
The New 42nd Street Inc is a nonprofit organization located in New York City, dedicated to the revitalization of performing arts through the management of seven historic theaters on 42nd Street. Their mission is to create opportunities and foster the development of new works within the performing arts scene. By catalyzing the power of these arts, they spark new perspectives and breathe life into iconic American theater district. Their projects aim to make extraordinary performing arts accessible to people of all ages and backgrounds. Additionally, the organization preserves the legacy of these historic theaters, ensuring their continued vitality and significance.
Official website here: www.new42.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The New 42nd Street Inc, known for its New Victory Theater, has achieved a high level of accountability and financial health, as indicated by its impressive 96% score on Charity Navigator. The organization boasts a majority independent board and effectively manages its financial resources, with a program expense ratio of 77.20%. Such metrics signify strong governance and a commitment to transparency, making it a reliable nonprofit in the arts sector.
User feedback highlights the New Victory Theater's exceptional programming for children and families, with many reviews praising the quality and variety of performances that engage young audiences. The theater's educational outreach, including workshops in schools and affordable ticket prices, has enriched the experiences of countless students, making the arts accessible to diverse communities. Volunteers and teaching artists express gratitude for the organization’s supportive environment, which fosters professional growth and skill development.
While the overwhelming majority of feedback is positive, some users note that the impact of the New Victory's educational programs could be even further enhanced with expanded outreach efforts. Overall, The New 42nd Street Inc stands out as a leader in providing high-quality, family-oriented theater experiences that also prioritize educational enrichment, ensuring it remains a vital resource in the community.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is The New 42nd Street Inc legitimate?
The New 42nd Street Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The New 42nd Street Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,142,006
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,724,492
For more financial information, click here
Official website here: www.new42.org
What is the mission statement of The New 42nd Street Inc?
The New 42nd Street Inc is a nonprofit organization that harnesses the power of performing arts to spark fresh perspectives, foster new creations, and create opportunities for all. Through its distinctive projects, New 42 brings extraordinary performing arts to life for people of all ages. Additionally, the organization plays a crucial role in nurturing and managing various historic theaters, ensuring the continued legacy and vitality of the performing arts scene.
Official website here: www.new42.org
Who is the CEO of The New 42nd Street Inc?
Russell Granet is the CEO of The New 42nd Street Inc The CEO's salary of The New 42nd Street Inc is $574,836 and their total compensation is $653,128.
Official website here: www.new42.org
What is the revenue of The New 42nd Street Inc?
The New 42nd Street Inc's revenue in 2024 was $28,033,671.
Official website here: www.new42.org
Who are the executives of The New 42nd Street Inc and what are their salaries?
The average compensation at The New 42nd Street Inc during 2024 was $31,136. There are 349 employees and 30 volunteers at The New 42nd Street Inc.
Here are 39 key members and their salaries (The New 42nd Street Inc's CEO's salary is $574,836 and their total compensation is $653,128):
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Official website here: www.new42.org
Where can I find the form 990 for The New 42nd Street Inc?
The New 42nd Street Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.new42.org
Learn more at the official website: www.new42.org
Mission Statement of The New 42nd Street Inc
The New 42nd Street Inc, a renowned nonprofit organization, is dedicated to igniting fresh perspectives and fostering the development of new performing arts works. By catalyzing the power of art, this esteemed institution creates valuable opportunities for all. Through its signature projects, New 42 brings extraordinary performing arts experiences to life, touching individuals from their earliest years onward. The nonprofit's mission extends beyond mere entertainment, as it also serves as a guardian for seven historic theater properties. The organization's stewardship ensures the legacy and vitality of America's most iconic theater district, providing a platform for artistic innovation and cultural enrichment.
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Impact
October, 2024
The New 42nd Street Inc plays a transformative role in the cultural landscape of New York City by harnessing the power of performing arts to inspire and engage a diverse audience. Its efforts to incubate new works create opportunities for artists and playwrights while stimulating creative innovation. By making extraordinary performing arts accessible to all, from early childhood education through adulthood, the organization fosters a strong appreciation for the arts within the community.
Additionally, The New 42nd Street Inc manages seven historic theater properties on 42nd Street, preserving the legacy of America’s most iconic theater district. This stewardship not only maintains the cultural heritage of the area but also revitalizes local economies and enhances the vibrancy of urban life. Through its signature projects, the organization cultivates a rich environment where artistic expression flourishes, ultimately enriching the lives of residents and visitors alike.
This information is meant to be a general summary of The New 42nd Street Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $271,320
- Program Service Revenue: $15,656,780
- Gross Receipts: $32,827,741
Assets and Liabilities:
- Total Assets: $49,391,490
- Total Liabilities: $5,818,171
- Net Assets: $43,573,319
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL & OTHER PROJECTS
Revenue
$14,324,681
BOX OFFICE RECEIPTS
Revenue
$1,332,099
Organization Details
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