Second Stage Theater

What it reported doing in 2024

Second Stage presented five shows during the 2024-2025 season. The season opened with "WALDEN" by Amy Berryman, which ran at the Tony Kiser Theater from October 17 to November 24, 2024. This play explored themes of environmental stewardship and human ambition through the story of two sisters confronting their diverging paths. Helmed by Whitney White, this production reached 11,532 theatergoers. Next, Leslye Headlan's "CULT OF LOVE" ran at the Helen Hayes Theater from November 20, 2024 to February 2, 2025. Directed by Trip Cullman, this play followed the Dahl family during the holiday season. Inquiring about the forces that separate and hold families together, the play followed the return of the family's adult children to their childhood home along with their partners. Old conflicts resurface, new issues battled, and dinner is taking forever. It welcomed 43,619 audience members. In early spring, we co-presented the Steppenwolf Theater Company production of Branden Jacobs-Jenkins' "PURPOSE, which ran at the Helen Hayes Theater from February 25 to August 31, 2025 and reached 83,293 people. Directed by Phylicia Rashad, this epic family drama followed the Jasper family, a pillar of Black American Politics. When the youngest son returns home, the family is forced into a reckoning with itself, its faith and the legacies of Black radicalism. This production received the Tony Award for Original Play and for Actress in a Featured Role (Kara Young). To finish the season, we produced Donald Margulies' "LUNAR ECLIPSE", directed by Kate Whoriskey. This production took place at the Irene Diamond Theater at the Pershing Square Signature Center between May 14 to June 22, 2025, and had 11,560 attendees. This moving play followed George and Em, a long-married couple watching a lunar eclipse. The play explored what it means to grow old together through the themes of legacy, children, and dogs. Each production was accompanied by a variety of activities, including post-show talkbacks and conversations with cast members and creative teams. A TOTAL OF 152,924 ATTENDEES ENGAGED WITH THE PROGRAMS AND INITIATIVES MENTIONED ABOVE. We also distributed 13,794 free tickets and 29,482 discounted tickets via the Affordable Ticket Initiative. Finally, our student matinee reached 271 students throughout our productions. Student matinees also include a study guide and a talk-back with the cast and creative team after the show. Throughout the season, we continued our new play development initiatives via a full production of one play for a four-week run, four free public readings, a reading of a musical in development, and a writer-focused development lab. We produced "ON THE EVOLUTIONARY FUNCTION OF SHAME" by D.A. Mindel, and hosted readings of "THE SINGULARITY PLAY" by Jay Stull, "WIPEOUT" by Real De Asua, and "YOU ARE CORDIALLY INVITED TO THE END OF THE WORLD" by Keiko Green. We also hosted a one-night-only reading of the new musical INSIDE VOICES by Ross Golan and Danielle Koenig. FY25 marked our third year hosting the Lark Playwright's Workshop, a playwright's group where six writers work on new plays. Across multiple sessions over three months, professional actors read scenes and new pages followed by feedback from other writers, actors, and mentors.

Financial Efficiency

• Mission deployment rate: 75.8%; rating input score 76
• Program expense ratio: 73.4%; rating input score 73
• Fundraising efficiency: $3.52 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 65th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited
• Public monitoring controls: 0 of 8 controls in place; rating input score 0
• Public policy transparency: 1 of 7 controls in place; rating input score 14
• Public financial transparency: 1 of 5 controls in place; rating input score 20
• Impact reporting controls: 2 of 7 controls in place; rating input score 29
• Public relationship transparency: No; rating input score 0

Accountability

• Independent voting board: 97.1%; rating input score 97; 31st percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
• Public governance controls: 2 of 4 controls in place; rating input score 50
• Zakat policy transparency: Limited

Sustainability

• Operating margin: -2.8%; rating input score 21; 21st percentile among comparable filings
• Operating reserve ratio: 2.14; rating input score 64; 64th percentile among comparable filings
• Liabilities to assets ratio: 0.37; rating input score 39; 39th percentile among comparable filings
• Officer compensation ratio: 13.1%; rating input score 11; 11th percentile among comparable filings

Growth

• Program expense growth: 9.6% per year; rating input score 100; 68th percentile among comparable filings
• Revenue growth: 7.4% per year; rating input score 100; 61st percentile among comparable filings
• Asset growth: 10.8% per year; rating input score 100; 68th percentile among comparable filings