2024-11-15T16:38:23-06:00 2023-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 180 PARK AVENUE SUITE 200 FLORHAM PARK NJ 07932 990 2023-05-03 882174944 54 BELOW INC 54BE 6464763551 254 W 54TH ST 10TH FL NEW YORK NY 10019 RICHARD FRANKEL MANAGING DIRECTOR 6464763551 2024-11-15 1 0 ROBERT GILBERT P01404950 9732180500 2024-11-15 2023 2024-10-15 13:58:12Z X RICHARD FRANKEL 254 W 54TH ST 10TH FL NEW YORK NY 10019 6190429 0 X WWW.54BELOW.ORG X 2022 DE AT 54 BELOW, OUR MISSION IS TO PRESERVE AND EXPAND THE ART OF THE CABARET WHILE PROVIDING AN UNPARALLELED AUDIENCE EXPERIENCE. WE'RE COMMITTED TO GROWING OPPORTUNITIES FOR DIVERSE COMMUNITIES OF EMERGING AND ESTABLISHED ARTISTS AND TO EXPANDING THEIR AUDIENCES. WE AIM TO PRESENT WORK THAT IS VIVID, IMMEDIATE, ENLIGHTENING AND ENTERTAINING THAT REFLECTS THE WORLD AROUND US AND THE IMAGINATION OF THE ARTISTS. WE HONOR THE CABARET TRADITION AND THE MUSIC AND COMMUNITY OF BROADWAY BY PURSUING EXCELLENCE IN CONTENT, PERFORMANCE, HOSPITALITY AND CUISINE. 9 6 131 0 0 0 832085 3238744 9 1448148 5518986 0 0 3063485 75600 233818 2862576 6001661 -482675 3098861 7887522 -4788661 X AT 54 BELOW, OUR MISSION IS TO PRESERVE AND EXPAND THE ART OF THE CABARET WHILE PROVIDING AN UNPARALLELED AUDIENCE EXPERIENCE. WE'RE COMMITTED TO GROWING OPPORTUNITIES FOR DIVERSE COMMUNITIES OF EMERGING AND ESTABLISHED ARTISTS AND TO EXPANDING THEIR AUDIENCES. WE AIM TO PRESENT WORK THAT IS VIVID, IMMEDIATE, ENLIGHTENING AND ENTERTAINING THAT REFLECTS THE WORLD AROUND US AND THE IMAGINATION OF THE ARTISTS. WE HONOR THE CABARET TRADITION AND THE MUSIC AND COMMUNITY OF BROADWAY BY PURSUING EXCELLENCE IN CONTENT, PERFORMANCE, HOSPITALITY AND CUISINE. 0 0 5157162 4673239 THE ORGANIZATION WORKS TO FOSTER AND PROMOTE THE UNDERSTANDING AND APPRECIATION OF THE PERFORMING ARTS AND THE ART FORM OF THE AMERICAN CABARET, SPECIALIZING IN THE MUSIC, HISTORY AND PERFORMERS OF THE AMERICAN MUSICAL THEATRE AND THE GREAT AMERICAN SONGBOOK. THE ORGANIZATION OPERATES A CLASSIC CABARET THEATER THAT FEATURES PERFORMANCES OF THE ABOVE MUSIC PLUS OCCASIONALLY CLASSICAL MUSIC AND OPERA. THE ORGANIZATION ALSO SERVES AS A LABORATORY FOR THE DEVELOPMENT OF NEW MUSIC AND MUSICALS, A TRAINING GROUND FOR NASCENT ARTISTS, A HOME FOR MORE ESTABLISHED ARTISTS TO BROADEN THEIR REPERTOIRE, AND A PLACE FOR COLLECTIVE SOTRYTELLING AND GATHERING. 5157162 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 131 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 9 6 1 0 0 0 0 0 0 1 1 0 0 1 0 0 1 1 1 0 NY DE X X HEIDI LIBBY 6464763551 254 W 54TH ST CELLAR NEW YORK NY 10019 X STEVEN BARUCH PRESIDENT 0.50 X X 9615 0 0 RICHARD FRANKEL MANAGING DIRECTOR 0.50 X X 20000 0 0 MADELINE CARNEY SECRETARY 0.50 X 0 0 0 HEIDI LIBBY TREASURER 20.00 X 82384 0 0 THOMAS VIERTEL CHAIRMAN 0.50 X 9615 0 0 STANLEY RICHARDS DIRECTOR 0.50 X X 0 0 0 BRENDA BRAXTON DIRECTOR 0.50 X 0 0 0 ROBERT L DILENSCHNEIDER DIRECTOR 0.50 X 0 0 0 KENNETH GREINER DIRECTOR 0.50 X 0 0 0 DEBORAH LANDESMAN DIRECTOR 0.50 X 0 0 0 LUCILLE WERLINCH DIRECTOR 0.50 X 0 0 0 121614 0 0 3 0 0 0 0 129587 702498 832085 ADMISSIONS INCOME 711110 3018697 3018697 OTHER ADMISSION INCOME 711110 220047 220047 3238744 9 9 51000 129587 66503 -15503 -15503 2039435 604940 1434495 1434495 29156 29156 29156 5518986 4673239 0 13662 X 2542497 2227616 225458 89423 275576 247030 20085 8461 245412 219992 17886 7534 22710 22710 27930 27930 75600 75600 1135261 1135261 315310 315310 21280 16200 5080 152660 72041 27819 52800 488097 366215 121882 12741 40 12701 33515 33515 103586 103586 72472 72472 BANK FEES & CREDIT CARD 176673 175112 1561 THEATRE EXPENSES 174841 166079 8762 REPAIRS AND MAINTENANCE 56209 56209 TRAINING 15586 15586 53705 40885 12820 6001661 5157162 610681 233818 538804 44176 103775 8592 3583787 2932993 0 650794 0 1752720 0 3098861 889305 621653 25789 2639382 0 3711393 0 7887522 X -4788661 0 -4788661 0 3098861 X -482675 -4305986 X 0 1 X 1 0 X 816582 816582 4673239 4673239 5489821 5489821 0 0 0 5489821 9 9 9 9 29156 29156 5518986 5518986 X PART III THE CURRENT TAX YEAR REPRESENTS A SHORT YEAR. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2456352 1875294 581058 513023 513023 0 614412 544676 69736 650794 RIGHT-OF-USE ASSET - OPERATING 1613729 SECURITY DEPOSITS 77033 OTHER ASSETS 61958 1752720 ACCRUED INTEREST PAYABLE 1174730 OPERATING LEASE LIABILITY 2086812 ESCHEATMENT PAYABLE 36812 OTHER LIABILITIES 68075 RENT PAYABLE 344964 3711393 X 5518986 0 5518986 0 5518986 6001661 0 6001661 0 6001661 PART X, LINE 2: THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC 740, INCOME TAXES . THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION RELATED TO THOSE TAX POSITIONS. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL. X X X 1 DONORLY 1460 BROADWAY NEW YORK NY 10036 FUNDRAISING 0 0 75600 0 75600 BTTF 96717 57717 39000 400 2107 35403 PATTI LUPONE BENEFIT 83870 71870 12000 13504 15089 180587 129587 51000 400 15611 50492 66503 -15503 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE FUNDRAISER WILL DRAFT A CAMPAIGN CALENDAR, PLAN AND EXECUTE FUNDRAISING CAMPAIGNS, DEVELOP AN ANNUAL GIVING PROGRAM, SYNTHIZE IDEAS FOR FUNDRAISING EVENTS AND GUIDE EFFORTS RELATING TO THOSE EVENTS. THE FUNDRAISER WILL ALSO PROVIDE ANY OTHER STRATEGIC ADVISING AS NECESSARY. FORM 990, PART VI, SECTION A, LINE 2 THOMAS VIERTEL AND STEVEN BARUCH ARE COUSINS. THOMAS VIERTEL, STEVEN BARUCH AND RICHARD FRANKEL HAVE OTHER BUSINESS VENTURES TOGETHER. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE BOARD FOR APPROVAL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 15 THE FINANCE AND ADMINISTRATION COMMITTEE AND THE INDEPENDENT MEMBERS OF THE BOARD APPROVED COMPENSATION OF NON-INDEPENDENT BOARD MEMBERS. COMPENSATION OF OTHER HIGHLY PAID EMPLOYEES (IN EXCESS OF $100,000) ARE REVIEWED AND APPROVED AS PART OF THE ANNUAL BUDGET PROCESS BY THE INDEPENDENT MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION UPON WRITTEN REQUEST WILL MAKE DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION. FORM 990, PART IX, LINE 11G ARTIST FEES: PROGRAM SERVICE EXPENSES 1,135,261. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,135,261. FORM 990, PART XI, LINE 9: NET ASSETS CONTRIBUTED FROM LLC -4,305,986. 54 BELOW LLC C/O H LIBBY 254 W 54TH ST 10TH FL NEW YORK NY 10019 452873839 THEATRICAL PRODUCTION NY 0 0 54 BELOW INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 54 BELOW LLC S 4305986 BOOK VALUE