Home › Arts, culture & humanities
The New 42nd Street
The New 42nd Street reported $24.6 million in revenue and $22.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $75.44 went to program services, $17.68 to management and general costs and $6.88 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 65.9% of the total. Government grants made up 12.6%. The highest compensation it reported for one person was $673,756 (PRESIDENT & CEO). 24 people received more than $100,000 in reportable compensation. Revenue rose 34% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $23MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $25MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 75.4% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 17.7% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 6.9% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.21 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 30.6% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 12.6% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 65.9% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $673,756 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.96% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 24 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 28.4 | 36.6 |
| Independent voting board members Part VI 1a–1b | 29 of 32 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe 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…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 40.00 hrs/week | $593,358 | $0 | $80,398 | $673,756 |
| VICE PRESIDENT, FINANCE Officer, 40.00 hrs/week | $215,022 | $0 | $50,107 | $265,129 |
| ARTISTIC DIRECTOR Highest compensated employee, 40.00 hrs/week | $237,533 | $0 | $27,550 | $265,083 |
| VICE PRESIDENT, ADMINISTRATION Highest compensated employee, 40.00 hrs/week | $196,059 | $0 | $23,307 | $219,366 |
| VP, MARKETING & COMMUNICATIONS Highest compensated employee, 40.00 hrs/week | $186,932 | $0 | $31,690 | $218,622 |
| DIR IT, CYBER SECURITY & INFRASTRUCTURE Highest compensated employee, 40.00 hrs/week | $154,320 | $0 | $26,173 | $180,493 |
| VP, EDUCATION & SCHOOL ENGAGEMENT Highest compensated employee, 40.00 hrs/week | $156,357 | $0 | $23,950 | $180,307 |
24 people received more than $100,000 in reportable compensation from The New 42nd Street (Part VII, line 2). Compensation of current officers, directors and key employees totaled $929K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b32 · 29 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5396
- Volunteers Part I, line 632
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| KASIRER LLC Lobbying fees | $120,000 |
Individuals listed as contractors are left out. 1 contractors were paid more than $100,000 in all.
Private foundation grants it received
42 private foundations reported grants to The New 42nd Street totaling $1.6M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The New 42nd Street's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The New 42nd Street, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The New 42nd Street spent in FY2025, $75.44 went to programs. The full breakdown, from its IRS Form 990:
Embed on your site
Similar-sized charities in this cause
- Arts Center and Theatre of SchenectadySchenectady, NY · revenue $24M · programs 80.6% · 2024
- The Second Stage TheatreNew York, NY · revenue $25M · programs 73.4% · FY2025
- National Wwi Museum and MemorialKansas City, MO · revenue $24M · programs 77.0% · 2024
- Kuow Puget Sound Public RadioSeattle, WA · revenue $25M · programs 61.1% · FY2025
- Jb Speed Art MuseumLouisville, KY · revenue $24M · programs 73.9% · FY2025
All arts, culture & humanities charities · Largest charities in New York
Questions people ask
How much of The New 42nd Street's spending goes to programs?
In the fiscal year ending June 30, 2025, The New 42nd Street reported that 75.4% of its $22.8 million in expenses went to program services, 17.7% to management and general and 6.9% to fundraising (Form 990, Part IX).
How much does The New 42nd Street pay its top executive?
The largest total compensation The New 42nd Street reported for one person in the fiscal year ending June 30, 2025 was $673,756, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The New 42nd Street get its money?
Of $24.6 million in revenue in the fiscal year ending June 30, 2025, 30.6% came from contributions and grants (including 12.6% from government grants) and 65.9% from program service revenue (Form 990, Part VIII).
Is The New 42nd Street a registered charity?
The IRS lists EIN 13-3584032 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611319349304811 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202521259349301877 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441369349303259 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311319349306761 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221339349307817 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101349349305305 · read the filing
All filings for EIN 13-3584032: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.