NEWARK PERFORMING ARTS CORPORATION

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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

1987

Legal Domicile

Principal Officer

TANESHIA LAIRD

Phone

9736434550

Tax Period

2023-07-01 to 2024-06-30

NEWARK PERFORMING ARTS CORPORATION, founded in 1987, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.9M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $1.8M, a strong 30% operating margin.

Mission

OPERATE NEWARK SYMPHONY HALL AND DEVELOPE AND PROVIDE ARTS, EDUCATION, AND CULTURAL EVENTS FOR THE RESIDENTS OF NEWARK, NJ AND ITS SURROUNDING AREA.

Program Service Accomplishments

Program 1

Expenses: $1,104,229 Revenue: $0

FACILITY OPERATIONS- REPRESENT THE PREPARATION AND MAINTENANCE OF THE CONCERT HALL AND TERRACE BALLROOM TO FACILITATE THE EVENT.THIS INCLUDES BUT NOT LIMITED TO MAINTENANCE AND UP KEEP OF FLOORS...

FACILITY OPERATIONS- REPRESENT THE PREPARATION AND MAINTENANCE OF THE CONCERT HALL AND TERRACE BALLROOM TO FACILITATE THE EVENT.THIS INCLUDES BUT NOT LIMITED TO MAINTENANCE AND UP KEEP OF FLOORS, WALLS, SEATING, LIGHTING, ELEVATORS AND RESTROOMS. THE MAINTENANCE AND UPKEEP OF THE SMOKE AND BURGLAR ALARM SYSTEMS,HEATING AND COOLING SYSTEMS ARE ALSO INCLUDED.

Program 2

Expenses: $692,073 Revenue: $0

EVENTS RENTALS AND SERVICES REPRESENT THE RENTAL OF THE CONCERT HALL AND TERRACE BALLROOM FOR CONCERTS, WEDDINGS AND OTHER EVENTS.THE SERVICES PROVIDED ARE STAFFING FOR EACH EVENT, SECYRITY, BAR AND...

Program 3

Expenses: $1,319,015 Revenue: $0

YOUTH PROGRAMS- IS A FIVE WEEK, FULL-DAY PROGRAM OFFERING INTENSIVE INSTRUCTION IN VOCAL MUSIC, CONTEMPORARY DANCE, DRAMA, AND CREATIVE WRITING FOR STUDENTS AGE 9-13, WITHOUT REGARD TO PREVIOUS...

YOUTH PROGRAMS- IS A FIVE WEEK, FULL-DAY PROGRAM OFFERING INTENSIVE INSTRUCTION IN VOCAL MUSIC, CONTEMPORARY DANCE, DRAMA, AND CREATIVE WRITING FOR STUDENTS AGE 9-13, WITHOUT REGARD TO PREVIOUS EXPERIENCE. THE YOUTH PROGRAM SERVICED EACH WEEK FOR 5 WEEKS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,785,965

Program Service Revenue $1,881,526

Investment Income $63,143

Other Revenue $184,090

TOTAL REVENUE $5,914,724

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,043,546

Fundraising Expenses $0

Program Expenses $3,115,317

Other Expenses $2,088,153

TOTAL EXPENSES $4,131,699

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,914,724	$7,152,522	-0.2%
Expenses	$4,131,699	$2,891,669	+0.4%
Net Income	$1,783,025	$4,260,853	-0.6%

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

221

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

Total Directors

$164,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONYEA L HOFFMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ALFRED BUNDY	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
GREG WARD	BOARD MEMBER	1.00	Director	$0	$0	$0
DR MARION BOLDEN	SECRETARY	1.00	Officer Director	$0	$0	$0
AYANA STAFFORD	BOARD MEMBER	1.00	Director	$0	$0	$0
FAYEMI SHAKUR	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD WESLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JERRY WONDA DUPLESSIS	BOARD MEMBER	1.00	Director	$0	$0	$0
KEITH HAMILTON	BOARD MEMBER	1.00	Director	$0	$0	$0
DARREN HARRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
ROOSEVELT DONAT ESQ	VICE-CHAIRPERSON	1.00	Officer Director	$0	$0	$0
RONALD S GLOVER	VICE-CHAIRPERSON	1.00	Officer Director	$0	$0	$0
DEBORAH SMITH-GREGORY	BOARD MEMBER	1.00	Director	$0	$0	$0
LINDA BARAKA	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSE OCASIO	BOARD MEMBER	1.00	Director	$0	$0	$0
TASHA LOHMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
DROSE MOSLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
TALIA YOUNG	EXECUTIVE DIRECTOR	40.00	Director	$164,000	$0	$164,000
ALFRED BUNDY	BOARD MEMBER	1.00	Director	$0	$0	$0
KEITH HAMILTON	BOARD MEMBER	1.00	Director	$0	$0	$0
DARREN HARRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG WARD	TREASURER	1.00	Officer 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
2024	$5,914,724	$4,131,699	$9,022,851	$1,783,025
2024	No data	No data	No data	No data
2023	$5,167,407	$5,358,138	$3,679,106	$-190,731
2023	No data	No data	No data	No data
2022	$2,749,827	$2,541,074	$3,489,371	$208,753
2021	$2,849,620	$1,245,419	$3,975,217	$1,604,201
2021	$2,849,887	$1,376,741	$3,772,187	$1,473,146
2020	$2,250,199	$1,409,805	$2,200,359	$840,394