New 42nd Street Inc

Analysis

New 42nd Street Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1990, 36 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New 42nd Street Inc reported income of $23.6m and spending of $21.0m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $19.5m to $23.6m (+21%), an average of +4.9% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New 42nd Street Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Maine Public Broadcasting Corporation ($23.6m), National Center for Civil and Humanrights Inc ($23.6m) and Broadway Sacramento ($23.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 29% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $1.2m (5.6% of expenses). Other salaries and wages came to $8.3m. At year end it held assets of $52.3m against liabilities of $6.0m, net assets of $46.3m. It reported 349 employees.