The Wang Center for the Performing Arts Inc

Nonprofit profile at a glance

EIN
510197209
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6174829393
Rating
65
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$5,480,771
Expenses
$5,662,922
Assets
$41,503,396
Liabilities
$1,615,797

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

Leadership & pay

33 people listed

Executive titles in this filing

  • JOHN F PERKINS (INTERIM CO-CEO (TIL 10/24)/ VP & CFO)
  • JOHN CASEY SOWARD (PRESIDENT & CEO (AS OF 10/24))
  • MICHAEL SZCZEPKOWSKI (INTERIM CO-CEO (TIL 10/24)/ VP & GM)
  • JOSIAH A SPAULDING JR (FORMER PRESIDENT & CEO)

Highest reported compensation

  • JOSIAH A SPAULDING JR (FORMER PRESIDENT & CEO): $496,200 total reported compensation
  • MICHAEL SZCZEPKOWSKI (INTERIM CO-CEO (TIL 10/24)/ VP & GM): $362,980 total reported compensation
  • JOHN F PERKINS (INTERIM CO-CEO (TIL 10/24)/ VP & CFO): $337,133 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 boch center operates and maintains two iconic venues and provides performing arts entertainment and cultural educational experiences to the general public.

What it reported doing in 2024

The center provides educational art programs to the community. Some of these programs are in partnership with boston public schools and include the in-school arts residency program that focuses on literacy and social emotional skills; the city spotlights summer leadership program, which encourages urban high school students to pursue careers and leadership potential through arts; and interactive readings that bring stories to children. All education programs directly reach children in all boston neighborhoods through workshops and performances. In addition to these programs, the center distributes complmentary tickets to various community partners including boston public schools and veterans (vet tix).

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 90
  • Accountability: 97
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.9%; rating input score 46
  • Program expense ratio: 37.1%; rating input score 37
  • Fundraising efficiency: $2.48 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.5%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.3%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 7.33; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 46.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -16.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 45.9% of revenue deployed · 37.1% of spending went to programs
  • Governance: 21 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.1M in reported program spending
  • Leadership: top reported pay $496K · 33 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $811K reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 9 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 37/100.
  • High — Financial Efficiency: Fundraising efficiency scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.