WORCESTER CENTER FOR PERFORMING AR… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

TROY SIEBELS

Phone

5084711760

Tax Period

2022-07-01 to 2023-06-30

WORCESTER CENTER FOR PERFORMING ARTS INC, founded in 2002, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $12.6M in total revenue in fiscal year 2022. Revenue decreased 8% compared to the prior year. Expenses of $12.1M left a modest 4% surplus.

Mission

WORCESTER CENTER FOR PERFORMING ARTS PROMOTES AND/OR HOSTS MORE THAN 150 PERFORMANCES AND WELCOMES MORE THAN 200,000 ATTENDEES EACH YEAR. THE HANOVER THEATRE CONSERVATORY REACHES MORE THAN 600 STUDENTS IN THEATRE, TECHNICAL THEATRE AND DANCE CLASSES AND SUMMER PROGRAMS. THE HANOVER THEATRE REPORTORY BRINGS TO THE STAGE A SERIES OF PLAYS PRODUCED IN WORCESTER, FOR WORCESTER. IN ADDITION TO PROVIDING A VENUE FOR BROADWAY SHOWS AND OTHER WORLD-CLASS PERFORMANCES PREVIOUSLY UNAVAILABLE IN OUR REGION, THE THEATRE HAS GREATLY INCREASED THE VISIBILITY OF WORCESTER AS A CULTURAL DESTINATION AND HAS CATALYZED PROFOUND CHANGE IN ITS DOWNTOWN.

Program Service Accomplishments

Program 1

Expenses: $9,469,777 Revenue: $9,986,159

WORCESTER CENTER FOR PERFORMING ARTS PROMOTES AND/OR HOSTS MORE THAN 150 PERFORMANCES AND WELCOMES MORE THAN 200,000 ATTENDEES EACH YEAR. THE HANOVER THEATRE CONSERVATORY REACHES MORE THAN 600...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $2,033,025

Program Service Revenue $9,985,053

Investment Income $121,974

Other Revenue $475,513

TOTAL REVENUE $12,615,565

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,027,299

Fundraising Expenses $393,130

Program Expenses $9,469,777

Other Expenses $5,089,517

TOTAL EXPENSES $12,116,816

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,615,565	$13,725,297	-0.1%
Expenses	$12,116,816	$10,668,581	+0.1%
Net Income	$498,749	$3,056,716	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

352

Volunteers

269

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$461,887

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELISSA BOISVERT	DIRECTOR	1.00	Director	$0	$0	$0
MARIE ANGELINI	DIRECTOR	1.00	Director	$0	$0	$0
TRACY BARLOK	DIRECTOR	1.00	Director	$0	$0	$0
TOM BARTHOLOMEW	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN BINIENDA	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA TASSI	DIRECTOR	1.00	Director	$0	$0	$0
ABIGAIL CHILDS	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL HELLER	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN JOSEPH	DIRECTOR	1.00	Director	$0	$0	$0
IVAN GREEN	DIRECTOR	1.00	Director	$0	$0	$0
ANCY VERDIER	DIRECTOR	1.00	Director	$0	$0	$0
HELDER MACHADO	DIRECTOR	1.00	Director	$0	$0	$0
LISA MCDONOUGH	CHAIR	4.00	Officer Director	$0	$0	$0
MAUREEN STOKES	DIRECTOR	1.00	Director	$0	$0	$0
KEN RAPP	DIRECTOR	1.00	Director	$0	$0	$0
EDWIN SHEA	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD RUSSO	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN SAVICKAS	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN STEMPLER	DIRECTOR	1.00	Director	$0	$0	$0
TOM SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLIE VALADE	TREASURER	4.00	Officer Director	$0	$0	$0
TRACY WELLS	CLERK	4.00	Officer Director	$0	$0	$0
JOHN LAURING	DIRECTOR	1.00	Director	$0	$0	$0
KELLIE THIBODEAU	VICE CHAIR	4.00	Officer Director	$0	$0	$0
KIMBERLY STONE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL SLEEPER	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY ROZAK	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM FINN	DIRECTOR	1.00	Director	$0	$0	$0
NJERI GICHOHI	DIRECTOR	1.00	Director	$0	$0	$0
MARY DEFEUDIS	HONORARY DIRECTOR	0.00	Director	$0	$0	$0
TROY SIEBELS	PRESIDENT/CEO	40.00	Officer	$294,492	$30,149	$324,641
JANINE DILIBERTO	VP FINANCE & HR	40.00	Officer	$116,195	$21,051	$137,246
MEGHAN MONTANER	VP - CONSERVATORY & EDUCATION	40.00	Highest	$123,578	$6,295	$129,873

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$12,615,565	$12,116,816	$10,134,844	$498,749
2022	$13,725,297	$10,668,581	$9,691,794	$3,056,716
2021	$7,443,487	$3,504,558	$9,482,034	$3,938,929
2020	$8,461,284	$8,678,272	$5,017,613	$-216,988
2019	$12,063,566	$10,297,722	$4,209,020	$1,765,844
2018	$12,165,752	$10,525,161	$5,082,545	$1,640,591

WORCESTER CENTER FOR PERFORMING ARTS INC