The Wang Center For The Performing Arts Inc
- Assets
- $34.4m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 88
- Location
- Boston, MA
- Founding
- 09/1976
- Data as of
- 05/2022
- EIN
- 51-0197209
Organization Overview
The Wang Center For The Performing Arts Inc, operating under the name Boch Center, is located in Boston, MA. The organization was established in 1976. 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 05/2022, Boch Center employed 88 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boch Center 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 05/2022, Boch Center generated $6.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.8%) each year. All expenses for the organization totaled $3.7m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (16.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE BOCH CENTER IS A NONPROFIT INNOVATOR AND GUARDIAN OF ICONIC VENUES, PROVIDING RELEVANT AND INCLUSIVE PERFORMING ARTS ENTERTAINMENT AND CULTURAL EDUCATIONAL EXPERIENCES TO DIVERSE AUDIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CENTER PROVIDES EDUCATIONAL ART PROGRAMS TO THE COMMUNITY. SOME OFTHESE PROGRAMS ARE IN PARTNERSHIP WITH BOSTON PUBLIC SCHOOLS ANDINCLUDE THE IN-SCHOOL TARGET ARTS PROGRAMS THAT FOCUSES ON LITERACY;THE CITY SPOTLIGHTS SUMMER LEADERSHIP PROGRAM, WHICH ENCOURAGES URBANHIGH SCHOOL STUDENTS TO PURSUE CAREERS AND LEADERSHIP POTENTIAL THROUGHARTS; AND INTERACTIVE READINGS THAT BRING STORIES TO CHILDREN IN PLACESSUCH AS FANEUIL HALL, BOSTON CENTER FOR YOUTH & FAMILIES AND COMMUNITYCENTER SITES. ANNUALLY, THESE PROGRAMS IMPACT MORE THAN 50,000PARTICIPANTS/AUDIENCES. IN ADDITION TO THESE PROGRAMS, THE CENTERDISTRIBUTES COMPLIMENTARY TICKETS TO OUR EDUCATION PROGRAMS ANDCOMMUNITY PARTNERS THROUGH THE SPECTRUM BOSTON TICKET ACCESS PROGRAM.
THE CENTER OPERATES TWO ICONIC ARTS VENUES, THE WANG AND SHUBERTTHEATRES, FOR THE PURPOSE OF PRESENTING ARTS ENTERTAINMENT TO THEGREATER COMMUNITY. IN ADDITION, THE CENTER MAKES ALL NEEDED REPAIRS ANDRENOVATIONS IN ORDER TO PROPERLY MAINTAIN THESE FACILITIES.
FOLK AMERICANA ROOTS HALL OF FAME - THE NEWLY CREATED FOLK AMERICANAROOTS HALL OF FAME IS HOUSED IN THE WANG THEATRE AND CELEBRATES THEHISTORY OF FOLK, AMERICANA AND ROOTS MUSIC THROUGH DISPLAYS,MEMORABILIA, ARTIFACTS, MULTI-MEDIA, LECTURES AND CONCERTS. THE MUSICHALL WILL BE HOME TO A SERIES OF LECTURES AND SMALLER-SCALEPERFORMANCES THAT EXPAND THE EDUCATIONAL MISSION OF THE HALL OF FAMEAND PROVIDE EXPOSURE TO THE NEXT GENERATION OF ARTISTS WHO ARE KEEPINGTHESE MUSICAL TRADITIONS ALIVE.
SPONSORSHIPS - THE CENTER RECEIVED PAYMENTS FROM BOSTON PORT SERVICE,INC. IN EXCHANGE FOR THE BOCH NAMING RIGHTS & OTHER MISC SPONSORSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josiah A Spaulding Jr President & CEO | Officer | 20 | $547,197 |
Michael Szczepkowski Vice President & General Manager | Officer | 4 | $237,548 |
John F Perkins CFO | Officer | 20 | $227,045 |
Brian Gale VP Of Booking & Event Marketing | Officer | 0 | $219,411 |
Sue Pekock Cao, Dev. & Institutional Mktg. | Officer | 40 | $212,478 |
Lisa Muise Controller | 20 | $154,616 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blackbaud Database Management | 5/30/20 | $113,982 |
Uncomplicate It Information Technology | 5/30/20 | $164,046 |
Snowcap Technologies Information Technology | 5/30/20 | $164,527 |
Snowcap Technologies Information Technology | 5/30/20 | $164,527 |
Uncomplicate It Information Technology | 5/30/20 | $164,046 |
Blackbaud Database Management | 5/30/20 | $113,982 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $51,063 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,840,484 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,112,793 |
| Noncash contributions included in lines 1a–1f | $166,742 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,004,340 |
| Total Program Service Revenue | $351,143 |
| Investment income | $185,077 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $343,296 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,359,659 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,176,145 |
| Compensation of current officers, directors, key employees. | $930,136 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,215,449 |
| Pension plan accruals and contributions | $43,801 |
| Other employee benefits | $98,835 |
| Payroll taxes | $136,983 |
| Fees for services: Management | $46,806 |
| Fees for services: Legal | $95,001 |
| Fees for services: Accounting | $46,391 |
| Fees for services: Lobbying | $11,300 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $73,421 |
| Fees for services: Other | $49,251 |
| Advertising and promotion | $32,426 |
| Office expenses | $36,824 |
| Information technology | $227,627 |
| Royalties | $0 |
| Occupancy | $21,128 |
| Travel | $7,171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,797 |
| Interest | $6,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,995 |
| Insurance | $68,561 |
| All other expenses | $8,705 |
| Total functional expenses | $3,663,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $529,272 |
| Savings and temporary cash investments | $303,909 |
| Pledges and grants receivable | $620,687 |
| Accounts receivable, net | $2,412 |
| 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 | $160,660 |
| Net Land, buildings, and equipment | $519,456 |
| Investments—publicly traded securities | $14,941,387 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,317,273 |
| Total assets | $34,395,056 |
| Accounts payable and accrued expenses | $782,749 |
| Grants payable | $0 |
| Deferred revenue | $616,058 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,398,807 |
| Net assets without donor restrictions | $27,711,181 |
| Net assets with donor restrictions | $5,285,068 |
| 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 | $34,395,056 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that The Wang Center For The Performing Arts Inc has recieved totaling $545,920.
| Awarding Organization | Amount |
|---|---|
Yawkey Foundation Ii Dedham, MA PURPOSE: CAPITAL PROJECT: ELEVATOR RENOVATION FOR ACCESSIBILITY IMPROVEMENTS | $500,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $13,740 |
Albert O Wilson Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Morgan Stanley Foundation Inc New York, NY PURPOSE: VOLUNTEER INCENTIVE PROGRAM | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $180 |
Endowment Analysis
| Beg. Balance | $10,941,454 |
| Earnings | -$549,113 |
| Other Expense | $305,000 |
| Ending Balance | $10,087,341 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Bushnell Memorial Hall Corporation Hartford, CT | $69,994,331 | $15,110,595 |
Rochester Broadway Theatre League Inc Rochester, NY | $14,097,725 | $11,757,109 |
Celebrity Series Of Boston Boston, MA | $21,295,635 | $11,486,131 |
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 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Stamford Center For The Arts Inc Stamford, CT | $18,714,807 | $7,026,118 |
Palace Theatre Trust Manchester, NH | $12,127,067 | $4,561,211 |
Friends Of The Music Hall Portsmouth, NH | $11,111,524 | $6,060,196 |
Palace Theater Group Inc Waterbury, CT | $7,137,767 | $7,444,031 |
Symphony Space Inc New York, NY | $23,080,716 | $5,038,783 |
Cabot Performing Arts Center Inc Beverly, MA | $9,302,777 | $5,349,464 |