WPCNR STAGE DOOR. By John F. Bailey. February 6, 2006: Dan Rodriguez, a member of the Helen Hayes Theatre Company Board of Directors confirmed to the media in the Rockland County edition of The Journal News (a story not carried in the Gannett Westchester edition) that the Helen Hayes Theatre Company  building on Main Street in Nyack was about to be sold to Milbrook Properties, Ltd. of Manhasset, N.Y. Reporter Laura Incalcaterra writes Rodriguez reporting the sale price to be $3.7 Million and the theatre having paid off most of its debt before the sale.

WPCNR reviewing the Helen Hayes Form 990 for the year 2003-2004 (posted October 29, 2005), that the reported price (of $3.7 Million)  is about double the amount of liabilities accrued by the Theatre's operations through June 2004, which the 2003-2004  Form 990 lists as $1,351,986. (2003-2004 is the last year for which Helen Hayes posted a Form 990 for the 501(c) non-profit corporation). The Theatre, the Form reports, lost $274,725 in operations for the fiscal year 2003-2004.

If that rate of loss continued in 04-05, (an additional $300,000 added to the liabilities)  the theatre company's liabilities may have approached $2 Million before this possible sale, but Rodriguez is also reported as saying most of the Helen Hayes Theatre Company  debt had been paid off recently, which could be taken to mean the theatre now has been staked to as much as a $3.7 million windfall from Milbrook Properties.

Milbrook Properties, Ltd., the reported purchaser, is a company owned by Rubin Pikus, is a company of 40 persons which manages 80 properties, mostly apartment buildings, and seeks acquisitions of additional property, and undertakes "new ventures in residential, commercial and development properties."

In an effort to ascertain the current status of the Helen Hayes Theatre Company  finances, which was reported in the process of reorganizing in October by its Executive Director in October, WPCNR contacted the Executive Director. WPCNR efforts to speak with the Helen Hayes Theatre's Executive Director, Tony Stimac who also serves as Producing Director of the White Plains Performing Arts Center,  have not been returned to ascertain how much windfall if any from the impending sale may generate to the Helen Hayes Theatre Company for its resurgence; whether the Helen Hayes Theatre Company will continue to perform at the Helen Hayes Theatre in Nyack, and when it will return,  or perhaps consider sharing and aiding its sister theatre, the White Plains Performing Arts Center,

The White Plains Performing Arts Center is currently in reorganization, having reprogrammed its spring schedule with lower budget productions than originally planned to conserve operating cash, severely depleted by reported large contibutions to Helen Hayes operating expenses in their 2-1/2 year relationship.