Civic Intelligence

Teen Arts New Jersey a Nj Nonprofit Corporation

990 • Fiscal year 2023 • EIN 22-2014553

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 22, 2024

154 Main Street 102Matawan, NJ 07747

(732) 566-2787

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.47x

Higher debt load relative to assets than 85% of similar nonprofits.

2023 filings • NTEE A • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.73x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • NTEE A • $500k-$1M nonprofits • Source year 2023

Net Margin

44th percentile

0.5%

Higher net margin than 44% of similar nonprofits.

2023 filings • NTEE A • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$15,450

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2023 filings • NTEE A • $500k-$1M nonprofits • Source year 2023

Asset Growth

54th percentile

4.6%

Faster asset growth than 54% of similar nonprofits.

2023 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

51st percentile

7.8%

Faster revenue growth than 51% of similar nonprofits.

2023 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$828,667

Flat from 2023

Net Assets

Flat

$440,595

Flat from 2023

Liabilities

Flat

$388,072

Flat from 2023

Revenue

Flat

$528,734

Flat from 2023

Expenses

Flat

$526,235

Flat from 2023

Net Income

Flat

$2,499

Flat from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2011: $202,341Liabilities 2011: $138,487Net Assets 2011: $63,8542011Assets 2012: $279,400Liabilities 2012: $189,529Net Assets 2012: $89,8712012Assets 2013: $39,445Liabilities 2013: $79,942Net Assets 2013: -$40,4972013Assets 2014: $70,822Liabilities 2014: $23,269Net Assets 2014: $47,5532014Assets 2015: $68,820Liabilities 2015: $66,303Net Assets 2015: $2,5172015Assets 2016: $100,235Liabilities 2016: $76,987Net Assets 2016: $23,2482016Assets 2017: $147,371Liabilities 2017: $88,538Net Assets 2017: $58,8332017Assets 2018: $101,321Liabilities 2018: $82,607Net Assets 2018: $18,7142018Assets 2019: $118,009Liabilities 2019: $48,883Net Assets 2019: $69,1262019Assets 2020: $378,304Liabilities 2020: $250,656Net Assets 2020: $127,6482020Assets 2021: $505,163Liabilities 2021: $210,668Net Assets 2021: $294,4952021Assets 2022: $792,374Liabilities 2022: $354,278Net Assets 2022: $438,0962022Assets 2023: $828,667Liabilities 2023: $388,072Net Assets 2023: $440,5952023Assets 2023: $828,667Liabilities 2023: $388,072Net Assets 2023: $440,5952023

Highlighted filing

2023

Assets$828,667
Liabilities$388,072
Net Assets$440,595

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,076,436Expenses 2011: $1,122,734Net Income 2011: -$46,2982011Revenue 2012: $1,085,733Expenses 2012: $1,059,716Net Income 2012: $26,0172012Revenue 2013: $575,070Expenses 2013: $705,438Net Income 2013: -$130,3682013Revenue 2014: $602,681Expenses 2014: $514,631Net Income 2014: $88,0502014Revenue 2015: $574,917Expenses 2015: $619,953Net Income 2015: -$45,0362015Revenue 2016: $682,973Expenses 2016: $662,242Net Income 2016: $20,7312016Revenue 2017: $776,950Expenses 2017: $710,865Net Income 2017: $66,0852017Revenue 2018: $724,856Expenses 2018: $757,130Net Income 2018: -$32,2742018Revenue 2019: $688,759Expenses 2019: $638,347Net Income 2019: $50,4122019Revenue 2020: $576,878Expenses 2020: $518,356Net Income 2020: $58,5222020Revenue 2021: $548,820Expenses 2021: $381,973Net Income 2021: $166,8472021Revenue 2022: $490,325Expenses 2022: $346,724Net Income 2022: $143,6012022Revenue 2023: $528,734Expenses 2023: $526,235Net Income 2023: $2,4992023Revenue 2023: $528,734Expenses 2023: $526,235Net Income 2023: $2,4992023

Highlighted filing

2023

Revenue$528,734
Expenses$526,235
Net Income$2,499
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 22, 2024
Return Version
2022v5.0
Gross Receipts
$528,734
Mission and Program Overview

Mission

The mission of arts and education center is to inspire artistic innovation and creativity by providing high quality education in the literary, performing, and visual arts.

The mission of teen arts new jersey is to inspire artistic innovation and creativity by providing high quality education in the literary, performing, and visual arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$693,834$737,090▲ $43,256
Accounts Receivable$42,870$19,525▼ $23,345
Pledges and Grants Receivable$43,940$13,750▼ $30,190
Prepaid Expenses and Deferred Charges$8,830$6,933▼ $1,897
Total Assets$792,374$828,667▲ $36,293
Other Assets Total$2,900$51,369▲ $48,469
Liabilities
Other Liabilities$337,216$356,679▲ $19,463
Accounts Payable and Accrued Expenses$1,099$17,205▲ $16,106
Mortgage Notes Payable Secured by Investment Property$15,963$14,188▼ $1,775
Total Liabilities$354,278$388,072▲ $33,794
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$438,096$440,595▲ $2,499
Total Net Assets Fund Balance$438,096$440,595▲ $2,499
Total Liabilities and Net Assets / Fund Balance$792,374$828,667▲ $36,293

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$48,469--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kevin E CiakExecutive Director/CEOPT$15,000$450$15,450

Board Members and Trustees

NameTitle
Lenore KingsmorePresident
Maria NaumikVice President
Brian ZychowskiTrustee
Divon PenderTrustee
Hon Frank PalloneTrustee
Joseph JankowskiTrustee
Arthur J RittenhouseSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$110,413
Program Service Revenue
$418,321
Investment Income
$0
Other Revenue
$0
All Other Contributions
$55,413
Change in Net Assets
$2,499

Audited Revenue Reconciliation

Revenue per Audited Statements
$528,734
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$528,734
Total Revenue per Form 990
$528,734
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$284,964
Salaries, Compensation, and Employee Benefits$241,271
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$170,245$13,450-$183,695
Occupancy$29,524$2,801-$32,325
Payroll Taxes$24,843$1,845-$26,688
Fees for Services Other-$19,167-$19,167
Insurance$15,876$1,570-$17,446
All Other Expenses$5,422$10,101-$15,523
Current Officers, Directors, Trustees, and Key Employees$14,060$1,390-$15,450
Office Expenses$13,545$1,339-$14,884
Information Technology$12,802$1,266-$14,068
Other Employee Benefits$11,376$1,125-$12,501
Interest-$8,011-$8,011
Travel$6,517$645-$7,162
Other Expenses$6,878--$6,878
Pension Plan Contributions$2,672$265-$2,937
Advertising$1,661--$1,661
Total Functional Expenses$463,260$62,975$0$526,235

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$526,235
Total Expenses per Audited Statements$526,235
Total Expenses per Form 990$526,235
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Economic Injury Disaster Loans$295,995
Operating Lease Liability$49,666
Payroll Taxes Payable$11,018
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Teen arts new jersey has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is provided to the members of the organizations governing body for any comments prior to its submission. The governing body is provided with a reasonable amount of time to review the form 990. Any comments are then grouped, summarized and provided through management to the outside accounting firm. Any applicable issues are addressed prior to the return being finalized and approved for filing.

Form 990, Part VI, Section B, Line 12C

Teen arts new jersey currently has in place a conflict of interest policy which it regularly monitors and enforces. The board mandates that all members of management and the governing body sign a conflict of interest policy annually and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest exists, governing body and management will investigate the issue. If a conflict of interest is determined to exist management and the governing body will be notified immediately. The member will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time that there is no longer a conflict.

Form 990, Part VI, Section B, Line 15

The compensation of the organizations officers or key employees is reviewed and approved by the board of trustees, an independent body.

Form 990, Part VI, Section C, Line 19

Teen arts new jersey makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon written request at the organizations office at 154 main street suite 102, matawan, nj 07747. In addition form 1023 as well as the financial statements, and conflict of interest policy are available upon written request at the organizations office at 154 main street suite 102, matawan, nj 07747.

Filing and Contact Details

Filer

Filer Name
Teen Arts New Jersey
EIN
22-2014553
Phone
7325662787
Address
154 MAIN STREET 102, MATAWAN, NJ 07747

Signing Officer

Name
Kevin E Ciak
Title
Executive Director
Phone
7325662787
Signed
2024-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin E Ciak
Formed
1969
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
4
Employees
26
Volunteers
15

Preparer

Firm
Nisivoccia Llp
Address
200 VALLEY RD SUITE 300, MT ARLINGTON, NJ 07856
Preparer
Anthony Rispoli
Phone
9733281825
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

Teen arts new jersey has established a board of trustees to oversee the audit process and to engage independent auditors on an annual basis.

Financial Statement Notes

PART X, LINE 2:

Tanj is a not-for-profit corporation as described in section 501(c)(3) of the internal revenue code and is thereby exempt from federal income taxes on related income pursuant to section 501(a) of the code. Tanj is also exempt under title 15 of the state of new jersey corporations and associations not for profit act. Accordingly, no provision for federal or state income taxes has been presented in the accompanying financial statements. Management has stated that all required informational tax returns have been filed and registration fees have been paid. Tanj follows the provisions of fasb asc, income taxes. The standard prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition as they relate to those positions. Tanj does not expect a significant increase or decrease to the total amounts of unrecognized tax positions during the year ended june 30, 2023. However, tanj is subject to regular audit by tax authorities including a review of its nonprofit status, which management believes would be upheld upon examination. Tanj believes that it has appropriate support for the positions taken on its tax returns. Nonetheless, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued each year. As required by law, tanj files informational returns with both federal and new jersey state governments on an annual basis - form 990 with the internal revenue service, and form cri-300r with the state. Tanj is subject to examinations at any time within certain statutorily defined periods from the latest filing date for federal and for new jersey.

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IRS990/OtherSalariesAndWagesGrp/TotalAmt0183695
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01845
IRS990/PayrollTaxesGrp/ProgramServicesAmt024843
IRS990/PayrollTaxesGrp/TotalAmt026688
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0265
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02672
IRS990/PensionPlanContributionsGrp/TotalAmt02937
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt043940
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt013750
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08830
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06933
IRS990/PrincipalOfficerNm0KEVIN E CIAK
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION
IRS990/ProgramServiceRevenueGrp/Desc1ENROLLMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc2APPLICATION FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0233043
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1154142
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt231136
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0233043
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1154142
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt231136
IRS990/ProgSrvcAccomActy2Grp/Desc0THE TEEN ARTS FESTIVAL IS AN ANNUAL CELEBRATION OF TEEN ARTS FEATURING STUDENT WORKSHOPS AND ADJUDICATIONS AND AWARDS AT A STATE LEVEL FOR STUDENTS NOMINATED FROM EACH OF NEW JERSEY'S 21 COUNTIES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt038241
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt044006
IRS990/ProgSrvcAccomActy3Grp/Desc0THE ARTS HIGH PROGRAM IS A CO-CURRICULAR PROGRAM FOR CREATIVELY GIFTED STUDENTS. PROGRAMS ARE RUN IN CREATIVE WRITING, DANCE,THEATRE, MUSIC, AND VISUAL ARTS IN MONMOUTH COUNTY.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0131130
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt097537
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0130546
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0131910
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0359779
IRS990/PYRevenuesLessExpensesAmt0143601
IRS990/PYSalariesCompEmpBnftPaidAmt0214814
IRS990/PYTotalExpensesAmt0346724
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0490325
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02499
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0276778
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0110413
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0130546
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0149664
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt055730
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0150163
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0596516
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0418321
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0359779
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0366434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0521143
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0538116
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02203793
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt032722
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt05
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0480
IRS990ScheduleA/OtherIncome509Grp/TotalAmt033207
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98830
IRS990ScheduleA/PublicSupportPY509Pct00.98900
IRS990ScheduleA/PublicSupportTotal509Amt02800309
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0528734
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0490325
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0516098
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0576873
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0688279
IRS990ScheduleA/Total509Grp/TotalAmt02800309
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0528734
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0490325
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0548820
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0576878
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0688759
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02833516
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0526235
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02900
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt148469
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RIGHT OF USE ASSET - OPERATING LEASE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011018
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1295995
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt249666
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ECONOMIC INJURY DISASTER LOANS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OPERATING LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0528734
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TANJ IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS THEREBY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. TANJ IS ALSO EXEMPT UNDER TITLE 15 OF THE STATE OF NEW JERSEY CORPORATIONS AND ASSOCIATIONS NOT FOR PROFIT ACT. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT HAS STATED THAT ALL REQUIRED INFORMATIONAL TAX RETURNS HAVE BEEN FILED AND REGISTRATION FEES HAVE BEEN PAID. TANJ FOLLOWS THE PROVISIONS OF FASB ASC, INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION AS THEY RELATE TO THOSE POSITIONS. TANJ DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED JUNE 30, 2023. HOWEVER, TANJ IS SUBJECT TO REGULAR AUDIT BY TAX AUTHORITIES INCLUDING A REVIEW OF ITS NONPROFIT STATUS, WHICH MANAGEMENT BELIEVES WOULD BE UPHELD UPON EXAMINATION. TANJ BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED EACH YEAR. AS REQUIRED BY LAW, TANJ FILES INFORMATIONAL RETURNS WITH BOTH FEDERAL AND NEW JERSEY STATE GOVERNMENTS ON AN ANNUAL BASIS - FORM 990 WITH THE INTERNAL REVENUE SERVICE, AND FORM CRI-300R WITH THE STATE. TANJ IS SUBJECT TO EXAMINATIONS AT ANY TIME WITHIN CERTAIN STATUTORILY DEFINED PERIODS FROM THE LATEST FILING DATE FOR FEDERAL AND FOR NEW JERSEY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt051369
IRS990ScheduleD/TotalExpensesPerForm990Amt0526235
IRS990ScheduleD/TotalLiabilityAmt0356679
IRS990ScheduleD/TotalRevenuePerForm990Amt0528734
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0528734
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0526235
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TEEN ARTS NEW JERSEY HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PROVIDED TO THE MEMBERS OF THE ORGANIZATIONS GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH A REASONABLE AMOUNT OF TIME TO REVIEW THE FORM 990. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED THROUGH MANAGEMENT TO THE OUTSIDE ACCOUNTING FIRM. ANY APPLICABLE ISSUES ARE ADDRESSED PRIOR TO THE RETURN BEING FINALIZED AND APPROVED FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TEEN ARTS NEW JERSEY CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT REGULARLY MONITORS AND ENFORCES. THE BOARD MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY SIGN A CONFLICT OF INTEREST POLICY ANNUALLY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, GOVERNING BODY AND MANAGEMENT WILL INVESTIGATE THE ISSUE. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST MANAGEMENT AND THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY. THE MEMBER WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THAT THERE IS NO LONGER A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE ORGANIZATIONS OFFICERS OR KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES, AN INDEPENDENT BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TEEN ARTS NEW JERSEY MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 154 MAIN STREET SUITE 102, MATAWAN, NJ 07747. IN ADDITION FORM 1023 AS WELL AS THE FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 154 MAIN STREET SUITE 102, MATAWAN, NJ 07747.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TEEN ARTS NEW JERSEY HAS ESTABLISHED A BOARD OF TRUSTEES TO OVERSEE THE AUDIT PROCESS AND TO ENGAGE INDEPENDENT AUDITORS ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0792374
IRS990/TotalAssetsEOYAmt0828667
IRS990/TotalAssetsGrp/BOYAmt0792374
IRS990/TotalAssetsGrp/EOYAmt0828667
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0110413
IRS990/TotalEmployeeCnt026
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt062975
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0463260
IRS990/TotalFunctionalExpensesGrp/TotalAmt0526235
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0354278
IRS990/TotalLiabilitiesEOYAmt0388072
IRS990/TotalLiabilitiesGrp/BOYAmt0354278
IRS990/TotalLiabilitiesGrp/EOYAmt0388072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0438096
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0440595
IRS990/TotalOtherCompensationAmt0450
IRS990/TotalProgramServiceExpensesAmt0463260
IRS990/TotalProgramServiceRevenueAmt0418321
IRS990/TotalReportableCompFromOrgAmt015000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0418321
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0528734
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0792374
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0828667
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0645
IRS990/TravelGrp/ProgramServicesAmt06517

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.83$0.39$0.44$0.53$0.53$0.00
2023Summary only. Only limited summary data is available for this year.$0.83$0.39$0.44$0.53$0.53$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$0.35$0.44$0.49$0.35$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.21$0.29$0.55$0.38$0.17
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.25$0.13$0.58$0.52$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.05$0.07$0.69$0.64$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.10$0.08$0.02$0.72$0.76$0.03
2017Summary only. Only limited summary data is available for this year.$0.15$0.09$0.06$0.78$0.71$0.07
2016Summary only. Only limited summary data is available for this year.$0.10$0.08$0.02$0.68$0.66$0.02
2015Summary only. Only limited summary data is available for this year.$0.07$0.07$0.00$0.57$0.62$0.05
2014Summary only. Only limited summary data is available for this year.$0.07$0.02$0.05$0.60$0.51$0.09
2013Summary only. Only limited summary data is available for this year.$0.04$0.08$0.04$0.58$0.71$0.13
2012Summary only. Only limited summary data is available for this year.$0.28$0.19$0.09$1.09$1.06$0.03
2011Summary only. Only limited summary data is available for this year.$0.20$0.14$0.06$1.08$1.12$0.05