New York · Nonprofit
THE NEW 42ND STREET INC
THE NEW 42ND STREET INC (New York) receives grants from 136 organizations whose IRS filings report $23,238,448 to it, the largest being SHERMAN FAIRCHILD FOUNDATION INC ($8,100,000). 77 of them have funded it in more than one year.
- Revenue FY2025
- $25M
- Funders on record
- 136
- Grants received
- $23M
- Net assets
- $54M
What The New 42nd Street Inc does
Mission
The new 42nd street, inc. (d/b/a new 42) is a leading performing arts nonprofit whose mission is to make extraordinary performing arts a vital part of everyone's life from the earliest years onward.
As stated on its FY2025 Form 990.
Program
The 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 income and ensure the ongoing vibrancy of 42nd street. In our 2024-25 season, new 42 made (continued on schedule o) extraordinary performing arts experiences possible for over 91,000 kids, families and artists. Through our commitment to ensure access for all, new victory theater provided free tickets for families residing in new york city housing authority (nycha) sites, $2 tickets to students as the largest provider of live performing arts for new york city public schools, and tickets averaging under $35 for all families due to funder subsidies that enable low ticket prices. New 42 studios…
$17,184,931 spent$16,234,242 earned by the program100% of program spending
The program described on its FY2024 Form 990. Program spending in total: $17,184,931.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2023 to 2024, from $52M to $58M (+10%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 9% · 2018 17% · 2019 5% · 2020 2% · 2021 15% · 2022 31% · 2023 15% · 2024 4% · 2025 13%. Grants only. Government contracts and fees sit inside program revenue.
31% of THE NEW 42ND STREET INC’s revenue is contributions — more earned-revenue than three-quarters of its peers (58% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 3 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Russell Granet
President & CEO
Board chair
Fiona Howe Rudin
Chair
As listed on its FY2025 Form 990.
Who funds it, year by year
2017 → 2023: the base broadened from 26 funders to 48 funders, grant income rose $1.2M → $1.9M.
15 of 136 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 20% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of THE NEW 42ND STREET INC’s funders (the co-funder graph). Top 30 of 136 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
THE NEW 42ND STREET INC has a broad base — no single funder exceeds 35% of grant income, and it takes 4 funders to reach half.
the vertical line marks half of all grant income — 4 funders to its left
Largest funder’s share by year: 2017 21% · 2018 15% · 2019 16% · 2020 28% · 2021 42% · 2022 8% · 2023 16% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
34% of THE NEW 42ND STREET INC's funders are still giving 3 years after their first grant; 57% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
THE NEW 42ND STREET INC draws 52% of its grant income from funders outside New York, across 16 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $4.6M arriving through sponsors registered in 11 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
THE NEW 42ND STREET INC's funding base is broadening — from 26 funders to 48 as grant income climbed.
this organization peer median middle 50% of peers· 570 arts & culture nonprofits $10M–$100M, FY2025
Government funding THE NEW 42ND STREET INC receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $185k on record.
- National Endowment for the Arts$185k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like THE NEW 42ND STREET INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In New York
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
75% of spending goes to programs.
Governance
Public support
79%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for THE NEW 42ND STREET INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds THE NEW 42ND STREET INC?
- THE NEW 42ND STREET INC (New York) receives grants from 136 organizations whose IRS filings report $23,238,448 to it, the largest being SHERMAN FAIRCHILD FOUNDATION INC ($8,100,000). 77 of them have funded it in more than one year.
- How many funders does THE NEW 42ND STREET INC have?
- IRS filings report 136 organizations giving $23,238,448 in grants to THE NEW 42ND STREET INC, 77 of which have funded it in more than one year.
- Who is the largest funder of THE NEW 42ND STREET INC?
- SHERMAN FAIRCHILD FOUNDATION INC is the largest funder on record, with $8,100,000 in grants. The full list of funders is on this page.
- How can an organization like THE NEW 42ND STREET INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in New York. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds New 42nd Street →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 136 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing