THE WHARTON INSTITUTE FOR THE PERFORMING ARTS INC (EIN 222609457) - Form 990 Financial Analysis & Trantor Score

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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

1985

Legal Domicile

Principal Officer

ERIKA FANELLE

Phone

9087900700

Tax Period

2024-07-01 to 2025-06-30

THE WHARTON INSTITUTE FOR THE PERFORMING ARTS INC, founded in 1985, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $4.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

WHARTON ARTS IS COMPRISED OF 4 CORE PROGRAMS INCLUDING PATERSON MUSIC PROJECT, THE PERFORMING ARTS SCHOOL, NEW JERSEY YOUTH CHORUS AND NEW JERSEY YOUTH SYMPHONY. IT OFFERS STUDENTS OF ALL AGES AND EXPERIENCE LEVELS LEARNING OPPORTUNITIES THAT RANGE FROM INSTRUMENTAL AND VOCAL INSTRUCTION, LARGE ENSEMBLES, MUSICAL THEATER, AND MORE. IN ADDITION TO THE PROGRAMS DESCRIBED IN PART III, 4A-C, WHARTON ARTS CONTAINS A FOURTH PROGRAM IN THE PERFORMING ARTS SCHOOL. THIS PROGRAM FEATURES ONE-ON-ONE PRIVATE INSTRUMENTAL AND VOCAL TRAINING, GROUP CLASSES AND MUSICAL THEATER INSTRUCTION FROM WELL-REGARDED MUSIC PROFESSIONALS. SCHOLARSHIPS ARE AVAILABLE TO STUDENTS FOR WHOM TUITION CREATES A BARRIER. WHARTON ARTS' MISSION IS TO OFFER ACCESSIBLE, HIGH-QUALITY PERFORMING ARTS EDUCATION THAT SPARKS PERSONAL GROWTH AND BUILDS INCLUSIVE COMMUNITIES. ITS VISION IS TO TRANSFORM PERFORMING ARTS EDUCATION IN AN INCLUSIVE COMMUNITY ACCESSIBLE TO ALL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,336,167

Program Service Revenue $2,683,874

Investment Income $197,784

Other Revenue $-55,168

TOTAL REVENUE $4,162,657

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,115,361

Fundraising Expenses $312,210

Program Expenses $3,464,093

Other Expenses $1,522,654

TOTAL EXPENSES $4,638,015

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,162,657	$6,304,269	-0.3%
Expenses	$4,638,015	$4,960,093	-0.1%
Net Income	$-475,358	$1,344,176	-1.4%

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

244

Volunteers

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

$135,940

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GINA CARUSO	EXECUTIVE DIRECTOR	40.00	Officer	$125,000	$10,940	$135,940
HELEN CHA-PYO	ARTISTIC DIRECTOR	40.00	Highest	$125,250	$366	$125,616
ROBERT HAMBURGER	PRESIDENT	10.00	Officer Director	$0	$0	$0
DR JACQUELINE PHILLIPS	VICE PRESIDENT	8.00	Officer Director	$0	$0	$0
JULIA SEN	VICE PRESIDENT	8.00	Officer Director	$0	$0	$0
DR CHARISSA WONG HORTON	SECRETARY	6.00	Officer Director	$0	$0	$0
INGRID DILLON	TREASURER	2.00	Officer Director	$0	$0	$0
HELEN AHN	TRUSTEE	2.00	Director	$0	$0	$0
MICHELE DOWLING JOHNSON	TRUSTEE	2.00	Director	$0	$0	$0
ERIKA FANELLE	TRUSTEE	2.00	Officer Director	$0	$0	$0
BOB KELLY	TRUSTEE EFF. 11/24	2.00	Director	$0	$0	$0
LEVI KELMAN	TRUSTEE	2.00	Director	$0	$0	$0
JOHN C LEVINE	TRUSTEE THRU 1/25	2.00	Director	$0	$0	$0
COURTNEY PANTIRER	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH SERZAN	TRUSTEE	2.00	Director	$0	$0	$0
INGE SPUNGEN	TRUSTEE EFF. 11/24	2.00	Director	$0	$0	$0
LARA STOLMAN	TRUSTEE	2.00	Director	$0	$0	$0

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	$4,162,657	$4,638,015	$2,873,715	$-475,358
2024	$6,304,269	$4,960,093	$3,391,913	$1,344,176
2023	$3,664,698	$4,562,829	$2,866,281	$-898,131
2022	$4,061,176	$3,663,074	$1,847,827	$398,102
2021	$3,350,269	$3,042,199	$1,459,809	$308,070
2020	$3,295,860	$3,132,832	$1,025,960	$163,028
2019	$2,715,535	$3,313,874	$751,397	$-598,339
2018	$4,109,415	$3,494,180	$1,273,997	$615,235

THE WHARTON INSTITUTE FOR THE PERFORMING ARTS INC