52nd Street Project Inc
- Assets
- $17.1m
- Revenue
- $1.7m
- Investments
- $717.9k
- Employees
- 25
- Location
- new york, NY
- Founding
- 12/1993
- Data as of
- 06/2022
- EIN
- 13-3467948
Organization Overview
52nd Street Project Inc is located in new york, NY. The organization was established in 1993. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, 52nd Street Project Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 52nd Street Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, 52nd Street Project Inc generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING TOGETHER KIDS FROM HELL'S KITCHEN WITH THEATER PROFESSIONALS TO CREATE ORIGINAL THEATER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HERE ARE SOME OF THE HIGHLIGHTS FROM 2021-2022: FY22 WAS THE FIRST YEAR THAT THE PROJECT RE-OPENED ITS CLUBHOUSE DOORS AND RETURNED TO FULLY IN-PERSON PROGRAMMING SINCE THE BEGINNING OF THE PANDEMIC. THE PROJECT ENGAGED OVER 88 PROJECT MEMBERS THROUGH OUR YEAR-ROUND ARTS PROGRAMMING AND EDUCATIONAL MENTORSHIP OFFERINGS. OUR PROJECT MEMBERS SAW THE RETURN OF FAMILIAR AFTER SCHOOL OFFERINGS SUCH AS HOMEWORK HELP AND SAT PREP PROGRAMS. IN ORDER TO MAKE UP FOR TIME LOST DUE TO THE PANDEMIC, THERE WERE 3 PLAYMAKING PROGRAMS OFFERED THIS YEAR: SUMMER, FALL, AND WINTER. FY22 SAW THE RESTRUCTURING OF OUR TEEN ENSEMBLE IN A RESPONSE TO THE NEED FOR OUR TEENS TO RECALIBRATE AND CATCH UP WITH LIFE AS THEY FOCUSED ON RETURNING TO SCHOOL IN-PERSON. OUR TEEN ENSEMBLE BECAME FOCUSED ON ENGAGING OUR TEENS AND RECONNECTING THEM TO OUR SENSE OF COMMUNITY. THE PROGRAM WAS SPLIT INTO 3 SECTIONS OVER THE YEAR: IMPROVISATION, TECHNICAL THEATER, AND IMPROV GAMES. THE RETURN TO IN-PERSON PROGRAMMING RESULTED IN THE PROJECT SEEING A MORE ROBUST PRODUCTION SCHEDULE. IN FY22, THE PROJECT HELD 7 ARTS PROGRAMS WITH CULMINATING PRODUCTIONS, WHICH SAW 45 ORIGINAL PLAYS OR STORIES CREATED BY OUR YOUNG PEOPLE. WE RETURNED TO IN-PERSON PRODUCTIONS AT OUR FIVE ANGELS THEATER, WHERE WE PRIORITIZED SAFE ACCESSIBILITY TO OUR SHOWS. THIS LED TO US MAKING LIVESTREAM RECORDINGS OF EACH OF OUR PERFORMANCES AVAILABLE TO OUR COMMUNITY, IN ADDITION TO THE OPTION OF TAKING IN THE LIVE PRODUCTION IN OUR PHYSICAL THEATER SPACE, REACHING A TOTAL AUDIENCE OF 2,580 PEOPLE IN FY22. 100% OF OUR SENIOR CLASS (25) GRADUATED FROM HIGH SCHOOL AND 36 ALUMNI ENROLLED IN COLLEGE AND RECEIVED $1,000 SCHOLARSHIPS AS PART OF OUR RON BLACK MEMORIAL SCHOLARSHIP FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Ochs Executive Director | OfficerTrustee | 50 | $118,424 |
Natalie Hirsch Artistic Director | OfficerTrustee | 40 | $94,461 |
Cathy Dantchik Co-Chair | OfficerTrustee | 1 | $0 |
Louis Friedman Co-Chair | OfficerTrustee | 1 | $0 |
Noel Mihalow Secretary | OfficerTrustee | 1 | $0 |
Merritt Tilney Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,496 |
| Related organizations | $0 |
| Government grants | $631,585 |
| All other contributions, gifts, grants, and similar amounts not included above | $703,994 |
| Noncash contributions included in lines 1a–1f | $11,439 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,338,075 |
| Total Program Service Revenue | $175,028 |
| Investment income | $195,364 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$52,866 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,663,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $249,905 |
| Compensation of current officers, directors, key employees. | $21,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $699,888 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $81,062 |
| Payroll taxes | $69,564 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $90,768 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,773 |
| Fees for services: Other | $23,751 |
| Advertising and promotion | $10,925 |
| Office expenses | $25,548 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $142,198 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,551 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $405,149 |
| Insurance | $55,086 |
| All other expenses | $25,824 |
| Total functional expenses | $2,043,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,622 |
| Savings and temporary cash investments | $152,859 |
| Pledges and grants receivable | $116,425 |
| Accounts receivable, net | $344,385 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $75,995 |
| Net Land, buildings, and equipment | $9,914,912 |
| Investments—publicly traded securities | $5,673,717 |
| Investments—other securities | $717,937 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,109,852 |
| Accounts payable and accrued expenses | $78,874 |
| Grants payable | $0 |
| Deferred revenue | $5,640 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $149,786 |
| Other liabilities | $0 |
| Total liabilities | $234,300 |
| Net assets without donor restrictions | $16,385,565 |
| Net assets with donor restrictions | $489,987 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,109,852 |