Report To The Community 2021

the budget picture
as of June 30, 2021
operating Income - $20.0 million
new jersey performing
arts center corporation
consolidated balance sheets june 30, 2021 and 2020
contributed revenue
66%
18%
endowment income and reserve transfers
6%
1%
performance and
performance related revenue
arts education revenue
9% other earned income
Assets 2021 2020
Cash and cash equivalents $ 12,607,006 7,882,568
Accounts receivable,
net of allowance for doubtful accounts 2,284,941 2,951,134
Contributions and grants receivable, net 30,324,867 42,335,700
Prepaid expenses and other assets 2,593,531 2,727,254
Investments 117,199,631 74,764,756
Property and equipment, net 102,331,609 105,329,667
Total assets $ 267,341,585 235,991,079
operating expenses - $20.0 million
theater operations 35%
arts education 10%
performance and 18%
performance related
10%
8%
marketing and communication
19%
development
general and administrative
Liabilities and Net Assets
Liabilities:
Accounts payable and accrued expenses $ 3,461,831 2,234,975
Advance ticket sales and
other deferred revenue 2,234,903 3,124,922
Loans payable 10,762,661 10,045,975
Other liabilities 8,538,729 6,987,371
Total liabilities $ 24,998,124 22,393,243
Commitments and contingencies
Net assets:
Unrestricted:
Designated for special purposes, including net
investment in property and equipment $ 93,151,049 95,392,902
Designated for operations 0 0
Total unrestricted 93,151,049 95,392,902
Temporarily restricted 49,675,533 33,272,637
Permanently restricted – endowment 99,516,879 84,932,297
Total net assets 242,343,461 213,597,836
Total liabilities and net assets $ 267,341,585 235,991,079
78 njpac.org
njpac.org 79