named programs · 3 · from sources
What they call their work
New 42 Studios
10-story performing arts complex providing rehearsal space for commercial and nonprofit theater companies, including Broadway, Off-Broadway, and regional productions.
New Victory Theater
Nonprofit theater presenting international and domestic performances for young audiences and families, established in 1995 as New York City's first theater for kids.
Youth Workforce Development Programs
Award-winning programs that provide training and career pathways in the arts for teens, combining mentorship with hands-on experience.
activities · 5 groups
What they do
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Artist Residencies and Studio Programs 1 activity
- Incubate new performing arts works through artist mentorship and developmentIncubates new works through New 42 Studios and artist mentorship programs, supporting the development and transfer of 1,471 productions to Broadway and other stages since 1990.
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Historic Theater and Arts Venue Preservation 1 activity
- Manage and preserve historic theaters on 42nd StreetHolds a 99-year master lease from the City and State of New York for seven historic theaters on 42nd Street, undertook major redevelopment including the structural relocation of the Empire Theatre by 168 feet—the largest in NYC history at the time—and oversaw the transformation of the Apollo and Lyric Theatres into a single 1,850-seat Broadway theater.
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Community-Engaged Theater Production 1 activity
- Operate New Victory Theater for young audiences and familiesOperates the New Victory Theater, New York City's first theater dedicated to kids and families, offering live performing arts experiences, education, and engagement programs since 1995. Has enabled over 2 million people to experience live theater since 1990.
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Subsidized Rehearsal and Performance Space 1 activity
- Provide rehearsal and development space for performing arts companiesOperates New 42 Studios, a 10-story performing arts complex opened in 2000, providing rehearsal and development space to over 1,000 nonprofit dance, theater, and opera companies, as well as commercial Broadway, Off-Broadway, and touring productions. Hosted rehearsal space for sixteen Tony Award-winning productions including Hamilton, Dear Evan Hansen, and Hadestown.
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Arts and Cultural Workforce Training 1 activity
- Support youth workforce development through the New 42 Youth CorpsRuns the New 42 Youth Corps, a workforce development program that has provided flexible paid employment to over 1,650 NYC youth since 1990, with members contributing over 19,500 hours annually to build professional experience and prepare for careers in and beyond the arts.
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financials · form 990 · fy2024
revenue
Total revenue$24.62M
Contributions & grants$7.54M31%
Program service revenue$16.23M66%
Investment income$800K3%
Other revenue$51K
expenses
Total expenses$22.78M
Program expenses75%
Admin / overhead18%
Fundraising7%
Salaries & benefits$13.70M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$57.29M
Cash$1.98M
Investments$12.69M
Liabilities$3.36M
Net assets$53.93M
Liquid reserves7.7 mo
6 years on record · 2019–2024 · YoY revenue -12.2%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 7
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| RUSSELL GRANET | PRESIDENT & CEO | 40 | $674K |
| MICHELE PAGNOTTA | VICE PRESIDENT, FINANCE | 40 | $265K |
| MARY E ROSE | ARTISTIC DIRECTOR | 40 | $265K |
| WENDY M HUTTON | VICE PRESIDENT, ADMINISTRATION | 40 | $219K |
| LAUREN P FITZGERALD | VP, MARKETING & COMMUNICATIONS | 40 | $219K |
| VINCENT TAYLOR | DIR IT, CYBER SECURITY & INFRASTRUCTURE | 40 | $180K |
| COURTNEY J BODDIE | VP, EDUCATION & SCHOOL ENGAGEMENT | 40 | $180K |
board members · 18
- AMY JACOBS — DIRECTOR
- ANDREW SOMMERS — TREASURER
- ANN UNTERBERG — DIRECTOR
- BILL IRWIN — DIRECTOR
- CHRISTINA ZAGARINO — DIRECTOR
- ELIOT RUBENZAHL — DIRECTOR
- FIONA HOWE RUDIN — CHAIR
- GREG LIPPMANN — DIRECTOR
- HENRY TISCH — DIRECTOR
- ISAAC MIZRAHI — DIRECTOR
- JI PARK KWAK — DIRECTOR
- JOHN LITHGOW — DIRECTOR
- KATHERINE PECK — DIRECTOR
- KELLY GALANIS — DIRECTOR
- LAURA O'DONOHUE — DIRECTOR
- LEIGH BISHOP — DIRECTOR
- LILI FABLE — DIRECTOR
- LUCINDA ZILKHA — DIRECTOR
relationships · 30
Who they work with
- AMC Partner — Operator of the 25-screen cineplex integrated with the restored Empire Theatre.
- Americans for the Arts Government — Recognized by Americans for the Arts with the 2008 National Arts Education Award for the School Partnership program.
- CUNY Arts Partner — Partner in designing and implementing the New 42 College Corps program.
- Charity Navigator Government — Rated New 42 with a four-star badge for accountability and financial health.
- City and State of New York Government — Lessor under a 99-year master lease for seven historic theaters on 42nd Street.
- Con Edison Funder — Donor contributing at the $5,000+ level
- Deutsche Bank Funder — Donor contributing at the $25,000+ level
- Ford Foundation Funder — Donor contributing at the $50,000+ level
- Forest City Ratner Partner — Leaseholder and construction partner responsible for moving the Empire Theatre and developing the AMC Empire 25 complex.
- GFP Real Estate Funder — Donor contributing at the $1,000+ level
- JPMorgan Chase Funder — Implied sponsor through Judy and Jamie Dimon, major donors at the $25,000+ level
- John Gore Organization Partner — Industry partner in theater and performing arts sector
- Livent Partner — Commercial producing partner with whom New 42 signed a lease for the Apollo and Lyric Theatres in 1996.
- Madame Tussaud’s Wax Museum Partner — Anchor tenant in the five-story entertainment complex developed with the Empire Theatre.
- Mayor’s Office of Media and Entertainment Government — Recipient of the 2007 “Made in NY” Award from the Mayor’s Office of Media and Entertainment.
- New 42 Studios Partner — Manages New 42 Studios as an incubator space for developing theatrical productions.
- New Victory Theater Partner — Collaborates to open new worlds for young audiences through performances.
- New Victory Theater Partner — Operates the New Victory Theater as a venue dedicated to children's theater and family programming.
- New York City Government — Co-founded The New 42nd Street in 1990 and granted the organization a 99-year lease for seven historic theaters on 42nd Street.
- New York City Department of Cultural Affairs Government — Public funder supporting New Victory Theater and its programs
- New York State Government — Co-founded The New 42nd Street in 1990 and granted the organization a 99-year lease for seven historic theaters on 42nd Street.
- New York State Council on the Arts Government — Public funder supporting New Victory Theater and its programs
- President’s Committee on the Arts and the Humanities Government — Jointly honored by Michelle Obama and the President’s Committee on the Arts and the Humanities with the 2014 National Arts and Humanities Youth Program Award.
- TD Charitable Foundation Funder — Donor contributing at the $10,000+ level
- The Duke on 42nd Street Partner — Operates The Duke on 42nd Street as a black box theater within New 42 Studios for performance and development.
- The New York Landmarks Conservancy Partner — Recipient of the 2025 Lucy G. Moses Preservation Award from The New York Landmarks Conservancy for the preservation of the New Victory Theater dome.
- The Shubert Foundation Funder — Major donor contributing at the $100,000+ level
- The Shubert Organization, Inc. Partner — Industry partner in theater and performing arts sector
- Times Square Alliance Partner — Geographic/civic partner in the Times Square district
- WNET Partner — Collaborated with WNET on "The Set List – New 42’s Let’s Get This Show on The Street" for which they were jointly nominated for a New York Emmy.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Artist Incubation via Infrastructure Supportmethodology: artist-incubation-through-space-and-supportBy providing high-quality rehearsal and development spaces, the organization enables artistic innovation and production, because access to affordable, professional-grade infrastructure reduces barriers for artists and organizations during critical early and developmental phases.
- Early and Lifelong Arts Engagementmethodology: culture-for-allBy engaging individuals with performing arts from an early age, the organization fosters lifelong cultural participation and personal development, because early exposure integrates the arts into identity formation and sustains cultural vitality across generations.
- Urban Revitalization through Cultural Hubsmethodology: integrated-arts-urban-revitalizationBy revitalizing historic theaters as multidisciplinary cultural centers integrated with commercial activity, the organization drives community transformation and long-term sustainability, because adaptive reuse within public-private partnerships creates economically viable anchors for artistic engagement and civic life.
- Youth Workforce Development through Arts Employmentmethodology: college-success-with-employmentBy combining part-time employment in the arts with academic and personal support, the organization increases college persistence and career readiness among undergraduates, because integrated work-and-learn models strengthen both educational outcomes and professional pathways in the creative economy.