Newark Performing Arts Corporation

Analysis

Newark Performing Arts Corporation is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Newark Performing Arts Corporation reported income of $5.2m and spending of $5.4m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $5.2m (+223%), an average of +34% a year. The sharpest change came in the year to June 2023, when income rose by 88%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Newark Performing Arts Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include Greater New Orleans Educational Television Foundation ($5.2m), Pasadena Conservatory of Music ($5.2m) and Braddock Carnegie Library Association ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $3.7m against liabilities of $1.1m, net assets of $2.6m.