Overview
What is New Jersey Performing Arts Center Corporation?
New Jersey Performing Arts Center Corporation, based in Newark, is a dynamic nonprofit organization that plays a significant role in education and economic development. Through its impactful arts education program, they engage over 15,000 school students annually by hosting classical, world-music concerts, dance performances, and musicals. In addition, the corporation invests in Newark's economy by planning and developing owned/leased real estate. With an annual expense of $3,086,580, New Jersey Performing Arts Center Corporation serves as a vital cultural and economic catalyst in the community.
Official website here: www.njpac.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% - Four-Star out of Four Stars
The New Jersey Performing Arts Center Corporation has achieved a remarkable Four-Star rating from Charity Navigator, indicating a strong level of transparency and financial integrity. The organization scored 100% on its Accountability & Finance metrics, reflecting its commitment to responsible financial practices and governance. This high rating is primarily attributed to its independent board composition and effective oversight mechanisms.
Notably, the organization boasts a board comprising 95% independent members and maintains a robust audit and oversight committee. These components contribute to its strong performance in areas like conflict of interest policies and adherence to document retention practices, ensuring accountability in its operations. Additionally, its liabilities to assets ratio is impressively low at 9.43%, indicating solid financial health.
While the organization excels in many areas, this rating serves as a reminder of the importance of maintaining these standards consistently. With 82.45% of its expenses dedicated to programs, the New Jersey Performing Arts Center Corporation demonstrates a clear focus on fulfilling its mission, although continued vigilance in governance and transparency will be essential for ongoing success.
This AI summary has been generated from information found on Charity Navigator.
Is New Jersey Performing Arts Center Corporation legitimate?
New Jersey Performing Arts Center Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Jersey Performing Arts Center 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: $5,359,272
Professional Fundraising Fees: $185,882
Other Salaries and Wages: $9,469,010
For more financial information, click here
Official website here: www.njpac.org
What is the mission statement of New Jersey Performing Arts Center Corporation?
The New Jersey Performing Arts Center Corporation serves as a cultural hub, attracting over 15,000 school students annually for classical and world-music concerts, dance performances, and musicals. By offering such experiences, it enhances their education through arts. In addition to its educational initiatives, the organization plays a significant role in Newark's economic development. It plans and develops real estate projects that align with its mission, resulting in expenses totaling $3,086,580. The center's comprehensive efforts contribute to the community's artistic and economic growth.
Official website here: www.njpac.org
Who is the CEO of New Jersey Performing Arts Center Corporation?
John Schreiber is the President & Ceo of New Jersey Performing Arts Center Corporation. The CEO's salary of New Jersey Performing Arts Center Corporation is $1,170,547 and their total compensation is $1,212,266.
Official website here: www.njpac.org
What is the revenue of New Jersey Performing Arts Center Corporation?
New Jersey Performing Arts Center Corporation's revenue in 2022 was $60,369,438.
Official website here: www.njpac.org
Who are the executives of New Jersey Performing Arts Center Corporation and what are their salaries?
The average compensation at New Jersey Performing Arts Center Corporation during 2022 was $34,404. There are 431 employees and 80 volunteers at New Jersey Performing Arts Center Corporation.
Here are 98 key members and their salaries (New Jersey Performing Arts Center Corporation's CEO's salary is $1,170,547 and their total compensation is $1,212,266):
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- Other: $38,521
Official website here: www.njpac.org
Where can I find the form 990 for New Jersey Performing Arts Center Corporation?
New Jersey Performing Arts Center Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.njpac.org
Learn more at the official website: www.njpac.org
Mission Statement of New Jersey Performing Arts Center Corporation
New Jersey Performing Arts Center Corporation, or NJPAC, is a mission-driven organization that plays a pivotal role in the arts and education sector. Committed to enriching the cultural landscape, NJPAC brings together over 15,000 school students each year by organizing classical and world-music concerts, dance performances, and musicals through its extensive arts education program. By fostering a deep appreciation for the arts in young minds, NJPAC sets the foundation for a lifelong love of learning and creativity.
In addition to its educational initiatives, NJPAC is a catalyst for economic development, planning and developing owned and leased real estate in furtherance of its mission. With a significant investment of $3,086,580, the organization demonstrates its dedication to driving growth and opportunities in its community. NJPAC's multifaceted approach not only enriches the lives of students but also contributes to the broader development of the community, making it a truly valuable asset in New Jersey's cultural landscape.
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Impact
October, 2024
The New Jersey Performing Arts Center Corporation (NJPAC) significantly impacts the Newark community and beyond through its robust arts education initiatives and real estate development activities. By engaging over 15,000 school students in classical and world-music concerts, dance performances, and musicals, NJPAC cultivates a love for the arts and provides invaluable educational experiences that enhance students' cultural awareness and personal growth.
Additionally, NJPAC plays a pivotal role in Newark's economic development. Its efforts in planning and developing owned and leased real estate not only support the center's mission but also stimulate local economic activity, create jobs, and attract visitors to the city. With expenses totaling $3,086,580 dedicated to these initiatives, NJPAC positions itself as a catalyst for revitalization and transformation within the Newark area. Through these multifaceted contributions, NJPAC enriches the community, fosters talent, and shapes the future of the arts in New Jersey.
This information is meant to be a general summary of New Jersey Performing Arts Center 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: $6,074,025
- Program Service Revenue: $17,269,718
- Gross Receipts: $105,797,142
Assets and Liabilities:
- Total Assets: $253,995,837
- Total Liabilities: $18,709,176
- Net Assets: $235,286,661
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PERFORMANCE RELATED
Revenue
$15,202,056
PERFORM OUTSIDE NJ
Revenue
$1,890,448
ARTS EDUCATION
Revenue
$177,214
Organization Details
Founding Year
1988
Phone
(973) 642-8989Principal Officer
John Schreiber
Main Address
ONE CENTER STREET, NEWARK, NJ, 07102
Website
www.njpac.orgNTEE Category
Code: A610 - Arts
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