New Jersey Performing Arts Center Corporation
- Assets
- $266.0m
- Revenue
- $34.3m
- Investments
- $24.7m
- Employees
- 498
- Location
- Newark, NJ
- Founding
- 12/1988
- Data as of
- 06/2021
- EIN
- 22-2889703
Organization Overview
New Jersey Performing Arts Center Corporation is located in Newark, NJ. The organization was established in 1988. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, New Jersey Performing Arts Center Corporation employed 498 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Performing Arts Center Corporation 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 06/2021, New Jersey Performing Arts Center Corporation generated $34.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $26.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
THEATER OPERATIONS: PROVIDED SERVICES FOR THE MANAGEMENT, OPERATION AND MAINTENANCE OF THE ARTS CENTER, PARKING FACILITIES AND CHAMBERS PLAZA FOR PUBLIC USE AND ENJOYMENT.
PERFORMANCES AND PERFORMANCE RELATED PROGRAMS: PRESENTED 396 PERFORMANCES AND EVENTS (OF WHICH 210 WERE FREE OF CHARGE INCLUDING VIRTUAL) AND MANY OTHER EVENTS WHICH REACHED OVER 274,000 PATRONS. PROGRAMS INCLUDED ORCHESTRA, RECITAL, MUSICAL THEATER, DANCE, POP, VARIETY, JAZZ AND OTHER DISCIPLINES, PERFORMED BY LOCAL, NATIONAL AND INTERNATIONAL ARTISTS.
ARTS EDUCATION PROGRAMS: NJPAC ARTS EDUCATION OFFERS PROGRAMMING IN FOUR MAIN AREAS: 1) SCHOOLTIME PERFORMANCES AND IN-SCHOOL ASSEMBLIES, 2) IN-SCHOOL RESIDENCIES, 3) ARTS TRAINING AND 4) PROFESSIONAL DEVELOPMENT. CONTINUED IN SCHEDULE O.
PROGRAM SERVICE ACCOMPLISHMENTS - OTHERMARKETING AND PUBLIC AFFAIRSNJPAC KEEPS THE PUBLIC AND THE MEDIA FULLY INFORMED ABOUT ITS PROGRAMS, EVENTS AND EDUCATIONAL ACTIVITIES.REAL ESTATE DEVELOPMENTPLANNING, IMPROVEMENT AND DEVELOPMENT OF OWNED/LEASED REAL ESTATE IN FURTHERANCE OF NJPAC'S MISSION OF BEING A CATALYST IN THE ECONOMIC DEVELOPMENT OF ITS HOME CITY OF NEWARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Schreiber President & CEO | OfficerTrustee | 50 | $714,478 |
David D Rodriguez Evp & Executive Producer | Officer | 50 | $381,281 |
Warren Tranquada Evp & COO | Officer | 50 | $325,630 |
Timothy Lizura Svp, Real Estate & Capital Projects | Officer | 50 | $283,502 |
Lisa Mantone Svp, Development (end 8/2020) | Officer | 50 | $282,762 |
Lennon Register VP & Chief Financial Officer | Officer | 50 | $217,928 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ticketmaster Llc Ticket Distribution | 6/29/21 | $1,425,606 |
Sj Presents Corp Concert & Marketing Services | 6/29/21 | $351,124 |
Gateway Security Services Inc Security | 6/29/21 | $524,170 |
American Express Travel Credit Card Svcs | 6/29/21 | $401,075 |
Windels Marx Lane & Mittendorf Llp Legal Services | 6/29/21 | $324,940 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,133,030 |
| Related organizations | $0 |
| Government grants | $2,515,848 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,762,144 |
| Noncash contributions included in lines 1a–1f | $13,126 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,411,022 |
| Total Program Service Revenue | $1,316,931 |
| Investment income | $779,514 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$144,351 |
| Net Gain/Loss on Asset Sales | $2,492,240 |
| Net Income from Fundraising Events | -$239,028 |
| Net Income from Gaming Activities | -$36 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,288,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,800 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,301,183 |
| Compensation of current officers, directors, key employees. | $2,138,920 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,230,300 |
| Pension plan accruals and contributions | $74,834 |
| Other employee benefits | $1,196,577 |
| Payroll taxes | $684,430 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $739,563 |
| Fees for services: Accounting | $135,000 |
| Fees for services: Lobbying | $81,000 |
| Fees for services: Fundraising | $185,183 |
| Fees for services: Investment Management | $234,921 |
| Fees for services: Other | $757,572 |
| Advertising and promotion | $621,909 |
| Office expenses | $153,138 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,556,999 |
| Travel | $153,865 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $217,994 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,221,687 |
| Insurance | $590,910 |
| All other expenses | $725,754 |
| Total functional expenses | $26,549,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,607,006 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $30,324,867 |
| Accounts receivable, net | $2,284,941 |
| 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 | $2,593,531 |
| Net Land, buildings, and equipment | $102,331,609 |
| Investments—publicly traded securities | $91,207,538 |
| Investments—other securities | $24,652,495 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $266,001,987 |
| Accounts payable and accrued expenses | $3,461,831 |
| Grants payable | $0 |
| Deferred revenue | $2,234,903 |
| 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 | $5,153,434 |
| Unsecured mortgages and notes payable | $5,609,227 |
| Other liabilities | $8,538,729 |
| Total liabilities | $24,998,124 |
| Net assets without donor restrictions | $93,151,049 |
| Net assets with donor restrictions | $147,852,814 |
| 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 | $266,001,987 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Jersey Performing Arts Center Corporation has recieved totaling $150.
| Awarding Organization | Amount |
|---|---|
I J & Mary Larosa Memorial Foundation Inc Lincoln Park, NJ PURPOSE: DONATION TO SUPPORTTHE PERFORMING ARTSOF NEW JERSEY | $150 |
Endowment Analysis
| Beg. Balance | $95,564,113 |
| Earnings | $23,168,951 |
| Admin Expense | $234,921 |
| Net Contributions | $13,866,826 |
| Other Expense | $3,576,461 |
| Ending Balance | $128,788,508 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lincoln Center For The Performing Arts Inc New York, NY | $1,091,633,831 | $143,770,938 |
The Carnegie Hall Corporation New York, NY | $718,141,781 | $55,324,262 |
Chautauqua Institution Chautauqua, NY | $271,934,218 | $47,780,826 |
New Jersey Performing Arts Center Corporation Newark, NJ | $266,001,987 | $34,288,526 |
New York City Center Inc New York, NY | $75,936,924 | $33,333,714 |
Mann Center For The Performing Arts Philadelphia, PA | $32,818,014 | $23,395,696 |
Mccarter Theatre Company Princeton, NJ | $28,336,036 | $11,621,825 |
Count Basie Theatre Inc Red Bank, NJ | $61,930,466 | $14,783,970 |
Rochester Broadway Theatre League Inc Rochester, NY | $14,097,725 | $11,757,109 |
Arts Center And Theater Of Schenectady Inc Schenectady, NY | $59,537,808 | $17,534,824 |
Saratoga Springs Performing Arts Center Inc Saratoga Springs, NY | $31,890,328 | $10,810,263 |
Strand-Capitol Performing Arts Center Inc York, PA | $13,276,794 | $10,332,110 |