Overview
What is Newark Performing Arts Corporation?
The Newark Performing Arts Corporation, operating under the name Newark Symphony Hall, is a nonprofit entity based in Newark, New Jersey. Situated at 1030 Broad Street, their primary mission involves operating the symphony hall and offering a diverse range of arts, educational, and cultural events for the local community and its surrounding area. Their operations encompass maintaining the concert hall and terrace ballroom, ensuring the functionality of essential facilities such as floors, walls, seating, lighting, elevators, and restrooms. Furthermore, they are responsible for the upkeep of vital systems including smoke and burglar alarms, heating, and cooling systems. Employing a team of 39 individuals, Newark Symphony Hall is dedicated to enriching the cultural landscape of Newark, New Jersey.
What are the reviews and ratings of this charity?
Charity Navigator rating: 94% (Four-Star out of Four Star rating)
Newark Performing Arts Corporation has achieved a strong Four-Star rating from Charity Navigator, reflecting its high standards in accountability and financial management. The organization demonstrates an exceptional commitment to transparency, with 100% of its board members being independent and a robust structure for audit and oversight, indicating effective governance practices.
The organization's financial health is notable, with a low liabilities to assets ratio of 29.40%, showing that it manages its financial obligations well. Additionally, a substantial program expense ratio of 72.51% suggests that a significant portion of its resources is directed towards its mission-related programs, which is a positive sign for donors looking for impactful contributions.
No significant limitations or concerns have been noted in the available data, indicating that Newark Performing Arts Corporation operates with a strong ethical foundation and a focus on delivering its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Newark Performing Arts Corporation legitimate?
Newark Performing Arts Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newark Performing Arts Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $90,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,141,220
For more financial information, click here
What is the mission statement of Newark Performing Arts Corporation?
The Newark Performing Arts Corporation's mission involves operating a concert hall and developing and providing a variety of arts, education, and cultural events for the residents of its surrounding area. The corporation aims to maintain and upkeep the facility, ensuring the concert hall and terrace ballroom are in optimal condition for events. This includes maintaining the floors, walls, seating, lighting, elevators, restrooms, smoke and burglar alarm systems, heating and cooling systems, among other facilities. The corporation's activities ultimately serve to promote and foster arts, education, and cultural experiences within the local community.
Who is the CEO of Newark Performing Arts Corporation?
Taneshia Laird is the Principal Officer of Newark Performing Arts Corporation.
What is the revenue of Newark Performing Arts Corporation?
Newark Performing Arts Corporation's revenue in 2022 was $2,749,827.
Who are the executives of Newark Performing Arts Corporation and what are their salaries?
The average compensation at Newark Performing Arts Corporation during 2022 was $31,570. There are 39 employees and 25 volunteers at Newark Performing Arts Corporation.
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Where can I find the form 990 for Newark Performing Arts Corporation?
Newark Performing Arts Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Newark Performing Arts Corporation
The Newark Performing Arts Corporation, in its mission, focuses on operating a concert hall and developing and offering arts, education, and cultural events for the residents of Newark, New Jersey, and its surrounding area. By maintaining and upkeeping the concert hall and Terrace Ballroom, they ensure that events run smoothly, with attention to details such as the condition of floors, walls, seating, lighting, elevators, and restrooms. Additionally, the organization is responsible for maintaining and upkeeping the smoke and burglar alarm systems, heating and cooling systems, contributing to a comfortable and secure environment for attendees.
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Impact
October, 2024
Newark Performing Arts Corporation significantly enhances the cultural landscape of Newark, NJ, through its operation of Newark Symphony Hall and a commitment to arts education and community engagement. By developing and providing a wide range of arts and cultural events, it creates an enriching atmosphere that fosters creativity and promotes artistic expression.
The meticulous management of Newark Symphony Hall ensures that it remains a premier venue for performances, accommodating diverse events that appeal to various community interests. The upkeep of the facility, including maintenance of the concert hall and terrace ballroom, ensures a welcoming and professional environment for both artists and audiences.
By facilitating access to arts and cultural experiences, the organization not only entertains but also educates residents, nurturing a deeper appreciation for the arts. This initiative helps cultivate a sense of community and connection among residents, providing opportunities for collaboration and personal growth through participation in the arts. Overall, Newark Performing Arts Corporation plays a vital role in enriching the community's cultural fabric and enhancing the quality of life for Newark's residents.
This information is meant to be a general summary of Newark Performing Arts Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$784
- Program Service Revenue: $1,803,314
- Gross Receipts: $2,755,100
Assets and Liabilities:
- Total Assets: $3,489,371
- Total Liabilities: $1,027,535
- Net Assets: $2,461,836
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENTS RENTALS
Revenue
$1,122,260
EVENTS SERVICES
Revenue
$644,976
TICKET SALES
Revenue
$11,668
SERVICES
Revenue
$24,410
Organization Details
Founding Year
1987
Phone
(973) 643-4550Principal Officer
Taneshia Laird
Main Address
1030 BROAD STREET, NEWARK, NJ, 071022410
NTEE Category
Code: A610 - Arts
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