New Jersey Performing Arts Center Corporation

Analysis

New Jersey Performing Arts Center Corporation is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in December 1988, 38 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Jersey Performing Arts Center Corporation reported income of $80.4m and spending of $67.3m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $54.8m to $80.4m (+47%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 76%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Jersey Performing Arts Center Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include World Trade Center Performing Arts Center Inc ($79.4m), Chicago Symphony Orchestra ($80.8m) and Academy Museum Foundation ($79.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $5.4m (8.0% of expenses). Other salaries and wages came to $11.5m. It paid $174k in professional fundraising fees. At year end it held assets of $281.7m against liabilities of $26.6m, net assets of $255.1m. It reported 630 employees.