Hudson Riverfront Performing Arts Center Inc

Nonprofit profile at a glance

EIN
270022918
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Weehawken, NJ, USA
Phone
2014306881
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$207,103
Expenses
$204,293
Assets
$13,628
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • BRUCE SHERMAN (PRESIDENT/EXECUTIVE DIRECT)

Highest reported compensation

  • BRUCE SHERMAN (PRESIDENT/EXECUTIVE DIRECT): $91,163 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary program service of the hudson riverfront performing arts center, inc. (hrpac) is the presentation of free concerts and entertainment to the general public.

What it reported doing in 2024

The primary program service of the hudson riverfront performing arts center, inc. (hrpac) is the presentation of free concerts and entertainment to the general public.hrpac produces two free concert series, "summer concerts on the hudson and the "ubs atrium series". Since the organization's first concert in 2003, tens of thousands of appreciative concertgoers from northern New Jersey and beyond (many who couldn't otherwise afford to pay for tickets) have enjoyed live and varied music. These concerts feature exceptionally talented musicians (at times including grammy and tony winners) from our region and around the world. Hrpac also presents educational outreach programs to area schools when possible.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 92
  • Accountability: 61
  • Sustainability: 32
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.1%; rating input score 71
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: $7.19 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 44.6%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 0% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: -4.9% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 71.1% of revenue deployed · 72.1% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $147K in reported program spending
  • Leadership: top reported pay $91K · 7 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.