New Jersey Performing Arts Center Corporation
- Assets
- $254.0m
- Revenue
- $60.4m
- Investments
- $24.4m
- Employees
- 431
- Location
- Newark, NJ
- Founding
- 12/1988
- Data as of
- 06/2022
- 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 06/2022, New Jersey Performing Arts Center Corporation employed 431 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 06/2022, New Jersey Performing Arts Center Corporation generated $60.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $47.7m during the year ending 06/2022. While expenses have increased by 1.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
PERFORMANCES AND PERFORMANCE RELATED PROGRAMS: PRESENTED 614 PERFORMANCES AND EVENTS (OF WHICH 282 WERE FREE OF CHARGE INCLUDING VIRTUAL) WITH OVER 347,000 PATRONS IN ATTENDANCE. PROGRAMS INCLUDED ORCHESTRA, RECITAL, MUSICAL THEATER, DANCE, POP, VARIETY, JAZZ AND OTHER DISCIPLINES, PERFORMED BY LOCAL, NATIONAL AND INTERNATIONAL ARTISTS.
PROGRAM SERVICE ACCOMPLISHMENTS - OTHERREAL 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.EXPENSES $3,086,580 INCLUDING GRANTS OF $0, REVENUE $0MARKETING AND PUBLIC AFFAIRSNJPAC KEEPS THE PUBLIC AND THE MEDIA FULLY INFORMED ABOUT ITS PROGRAMS, EVENTS AND EDUCATIONAL ACTIVITIES.EXPENSES $2,867,720 INCLUDING GRANTS OF $0, REVENUE $0
THEATER OPERATIONS: PROVIDED SERVICES FOR THE MANAGEMENT, OPERATION AND MAINTENANCE OF THE ARTS CENTER, PARKING FACILITIES AND CHAMBERS PLAZA FOR PUBLIC USE AND ENJOYMENT.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Schreiber President & CEO | OfficerTrustee | 50 | $1,170,547 |
Lara Abrash Board Member | Trustee | 1 | $0 |
Marsha I Atkind Board Member | Trustee | 1 | $0 |
Ras J Baraka Board Member | Trustee | 1 | $0 |
Lawrence E Bathgate II ESQ Board Member | Trustee | 1 | $0 |
Marc E Berson Treasurer | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Larena Construction Llc Construction | 6/29/22 | $561,035 |
American Express Travel Credit Card Svcs | 6/29/22 | $517,299 |
Sj Presents Corp Concert & Marketing Services | 6/29/22 | $555,793 |
Gateway Security Services Inc Security | 6/29/22 | $509,839 |
Skidmore Ownings & Merrill Llp Design And Schematic | 6/29/22 | $445,053 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,464,687 |
| Related organizations | $0 |
| Government grants | $18,431,816 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,010,703 |
| Noncash contributions included in lines 1a–1f | $791,145 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,907,206 |
| Total Program Service Revenue | $17,269,718 |
| Investment income | $999,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $332,006 |
| Net Gain/Loss on Asset Sales | $5,074,135 |
| Net Income from Fundraising Events | -$312,072 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,369,438 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,595 |
| Grants and other assistance to domestic individuals. | $94,747 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,359,272 |
| Compensation of current officers, directors, key employees. | $3,095,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,469,010 |
| Pension plan accruals and contributions | $77,748 |
| Other employee benefits | $1,478,167 |
| Payroll taxes | $1,127,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $574,978 |
| Fees for services: Accounting | $229,756 |
| Fees for services: Lobbying | $68,728 |
| Fees for services: Fundraising | $185,882 |
| Fees for services: Investment Management | $395,667 |
| Fees for services: Other | $4,560,617 |
| Advertising and promotion | $2,470,498 |
| Office expenses | $425,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,728,316 |
| Travel | $838,590 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $103,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,349,191 |
| Insurance | $677,339 |
| All other expenses | $2,147,293 |
| Total functional expenses | $47,696,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,613,360 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,138,797 |
| Accounts receivable, net | $5,356,573 |
| 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 | $2,279,174 |
| Net Land, buildings, and equipment | $99,760,039 |
| Investments—publicly traded securities | $79,449,300 |
| Investments—other securities | $24,398,594 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $253,995,837 |
| Accounts payable and accrued expenses | $3,641,022 |
| Grants payable | $0 |
| Deferred revenue | $2,880,636 |
| 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 | $1,555,713 |
| Unsecured mortgages and notes payable | $1,391,680 |
| Other liabilities | $9,240,125 |
| Total liabilities | $18,709,176 |
| Net assets without donor restrictions | $107,491,188 |
| Net assets with donor restrictions | $127,795,473 |
| 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 | $253,995,837 |
Grants Awarded
Over the last fiscal year, New Jersey Performing Arts Center Corporation has awarded $47,567 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEWARK BOARD OF EDUCATION PURPOSE: ARTS EDUCATION | $41,519 |
JERSEY CITY PUBLIC SCHOOLS PURPOSE: ARTS EDUCATION | $6,048 |