Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $2,175,815

• 1e · Government grants (contributions)

  $10,747,960

• 1f · All other contributions, gifts and grants

  $18,780,569

• 1g · Noncash contributions included above

  $213,149

• 2a · Program service revenue: PERFORMANCE RELATED

  total $32,919,718 · related or exempt $32,919,718

• 2b · Program service revenue: PERFORM OUTSIDE NJ

  total $1,005,186 · unrelated business $1,005,186

• 2c · Program service revenue: ARTS EDUCATION

  total $359,309 · related or exempt $359,309

• 3 · Investment income

  total $3,575,883 · unrelated business -$35,179 · excluded $3,611,062

• 6a · Gross rents

  real property $1,243,333 · personal property $542,643

• 6b · Less rental expenses

  real property $979,152 · personal property $342,260

• 6c · Rental income or loss

  real property $264,181 · personal property $200,383

• 6d · Net rental income or loss

  total $464,564 · unrelated business $200,383 · excluded $264,181

• 7a · Gross sales of assets other than inventory

  securities $36,653,457

• 7b · Less cost or other basis and sales expenses

  securities $36,605,071

• 7c · Gain or loss

  securities $48,386

• 7d · Net gain or loss

  total $48,386 · excluded $48,386

• 8a · Fundraising events: gross income

  $357,625

• 8a · Fundraising events: contributions included on line 1c

  $2,175,815

• 8b · Fundraising events: direct expenses

  $997,193

• 8c · Net income from fundraising events

  total -$639,568 · excluded -$639,568

• 9a · Gaming: gross income

  $20,200

• 9b · Gaming: direct expenses

  $5,840

• 9c · Net income from gaming

  total $14,360 · excluded $14,360

• 11a · Other revenue: REAL ESTATE RELATED

  total $2,241,695 · excluded $2,241,695

• 11b · Other revenue: PARKING SERVICES

  total $2,207,287 · excluded $2,207,287

• 11c · Other revenue: FOOD SERVICES

  total $710,663 · excluded $710,663

• 11d · All other revenue

  total $1,881,962 · excluded $1,881,962

• 11e · Other revenue, total

  $7,041,607

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,511 · program services $7,511

• 2 · Grants to domestic individuals

  total $179,256 · program services $179,256

• 5 · Compensation of officers, directors and key employees

  total $5,160,133 · program services $1,544,722 · management and general $3,308,154 · fundraising $307,257

• 7 · Other salaries and wages

  total $13,128,342 · program services $10,603,963 · management and general $957,620 · fundraising $1,566,759

• 8 · Pension plan contributions

  total $703,004 · program services $39,891 · management and general $660,068 · fundraising $3,045

• 9 · Other employee benefits

  total $2,375,303 · program services $655,708 · management and general $1,552,655 · fundraising $166,940

• 10 · Payroll taxes

  total $1,473,654 · program services $1,142,164 · management and general $184,853 · fundraising $146,637

• 11b · Fees: legal

  total $546,156 · program services $406,834 · management and general $139,322

• 11c · Fees: accounting

  total $192,518 · program services $300 · management and general $192,218

• 11d · Fees: lobbying

  total $60,000 · program services $60,000

• 11e · Fees: professional fundraising services

  total $326,225 · fundraising $326,225

• 11f · Fees: investment management

  total $229,255 · management and general $229,255

• 11g · Fees: other

  total $5,995,969 · program services $5,590,306 · management and general $405,663

• 12 · Advertising and promotion

  total $4,160,019 · program services $3,970,678 · management and general $9,866 · fundraising $179,475

• 13 · Office expenses

  total $615,913 · program services $372,167 · management and general $197,829 · fundraising $45,917

• 16 · Occupancy

  total $3,569,730 · program services $3,555,373 · management and general $10,353 · fundraising $4,004

• 17 · Travel

  total $1,683,222 · program services $1,425,846 · management and general $181,089 · fundraising $76,287

• 20 · Interest

  total $37,740 · program services $35,212 · management and general $2,528

• 22 · Depreciation, depletion and amortization

  total $4,249,291 · program services $4,089,647 · management and general $81,978 · fundraising $77,666

• 23 · Insurance

  total $847,308 · program services $847,308

• 24a · Other expenses: ARTIST & PERFORMER FEES

  total $14,584,411 · program services $14,541,361 · management and general $35,650 · fundraising $7,400

• 24b · Other expenses: PRODUCTION COSTS

  total $3,239,970 · program services $3,209,613 · management and general $26,122 · fundraising $4,235

• 24c · Other expenses: PARKING OPERATIONS

  total $3,010,340 · program services $3,010,340

• 24d · Other expenses: CREDIT CARD & TM FEES

  total $1,144,191 · program services $1,108,147 · management and general $1,560 · fundraising $34,484

• 24e · All other expenses

  total $3,382,077 · program services $3,232,386 · management and general $149,691

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $30,742,938 · end of year $63,336,828

• 3 · Pledges and grants receivable

  beginning of year $31,025,657 · end of year $30,060,322

• 4 · Accounts receivable

  beginning of year $3,948,418 · end of year $8,919,220

• 7 · Other notes and loans receivable

  end of year $16,931,200

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,080,155 · end of year $4,624,395

• 10a · Land, buildings and equipment: cost or other basis

  $214,074,034

• 10b · Land, buildings and equipment: accumulated depreciation

  $111,431,527

• 10c · Land, buildings and equipment, net

  beginning of year $101,108,448 · end of year $102,642,507

• 11 · Investments: publicly traded securities

  beginning of year $86,930,670 · end of year $94,478,521

• 12 · Investments: other securities

  beginning of year $24,870,405 · end of year $28,338,159

• 17 · Accounts payable and accrued expenses

  beginning of year $5,560,899 · end of year $7,894,284

• 19 · Deferred revenue

  beginning of year $4,172,298 · end of year $3,524,039

• 20 · Tax-exempt bond liabilities

  end of year $50,000,000

• 23 · Secured mortgages and notes payable

  beginning of year $1,225,946 · end of year $885,039

• 24 · Unsecured notes and loans payable

  beginning of year $2,013,144 · end of year $2,500,000

• 25 · Other liabilities

  beginning of year $13,604,238 · end of year $12,359,296

• 27 · Net assets without donor restrictions

  beginning of year $114,334,551 · end of year $120,458,495

• 28 · Net assets with donor restrictions

  beginning of year $140,795,615 · end of year $151,709,999

The filer's explanations (Part III)

PART I, LINE 1A

FRINGE OR EXPENSE EXPLANATION TAX INDEMNIFICATION AND GROSS-UP PAYMENTS AN OFFICER IS REIMBURSED FOR THE COST OF OBTAINING SUPPLEMENTAL INSURANCE AS PROVIDED IN THE EMPLOYMENT CONTRACT. THE REIMBURSEMENT PAYMENT IS GROSSED-UP TO ACCOUNT FOR THE ADDITIONAL TAX COST OF THE BENEFIT. THE GROSSED-UP AMOUNT IS REPORTED AS TAXABLE INCOME IN THE OFFICER'S W-2.

PART I, LINE 4A

ERNEST DIROCCO: $84,193 JOSH ADLER: $16,394

PART I, LINE 7

IN 2023, SENIOR MANAGEMENT RECEIVED NONFIXED DISCRETIONARY BONUSES, WHICH ARE INCLUDED IN THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (B) (II).

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• THEATER SQUARE DEVELOPMENT COMPANY

  REAL ESTATE · NJ · income $1,875,298 · assets $0

  Directly controlled by NJPAC

• HIP HOP NUTCRACKER TOUR LLC

  PERF ARTS · NJ · income $1,642,345 · assets $0

  Directly controlled by NJPAC

• NJ MEDIA PRODUCTION STAGES LLC

  REAL ESTATE · DE · income $498,932 · assets $0

  Directly controlled by NJPAC

• NJPAC TSD 1 LLC

  REAL ESTATE · DE · income $0 · assets $0

  Directly controlled by NJPAC

• NJ MEDIA PRODUCTION MANAGEMENT LLC

  REAL ESTATE · DE · income $0 · assets $0

  Directly controlled by NJPAC

• NJ MEDIA PRODUCTION STUDIOS LLC

  REAL ESTATE · DE · income $0 · assets $0

  Directly controlled by NJPAC

• NJ MEDIA PRODUCTION HOLDINGS LLC

  PERF ARTS · DE · income $0 · assets $0

  Directly controlled by NJPAC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• NJ CTR FOR PERFORMING ARTS DEV CORP

  C · REAL ESTATE · NJ · 100% owned · controlled entity

  Directly controlled by NJPAC