PALACE PERFORMING ARTS CENTER INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- PALACE PERFORMING ARTS CENTER INC (EIN 14-1708151)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-04-01
- IRS object ID
- 202330919349300703
- Schema version
- 2021v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-04-01T09:53:51-04:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 141731700 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL A TOBIN & ASSOC CPA'S PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 18 COMPUTER DRIVE EAST - SUITE 101 | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 122051290 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 141708151 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE PALACE PERFORMING ARTS | BusinessNameLine1Txt |
| Business Name Line2 | CENTER INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PALA | BusinessNameControlTxt |
| Phone | 5184653335 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19 CLINTON AVENUE | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12207 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEFFREY STONE | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 5184653335 | PhoneNum |
| Signature | 2022-03-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JEFFREY | PersonFirstNm |
| Person Last | STONE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MICHAEL A TOBIN II | PreparerPersonNm |
| PTIN | P00248170 | PTIN |
| Phone | 5189808100 | PhoneNum |
| Preparation | 2023-03-28 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEPHEN P BABOULIS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 715 NORTH PEARL STREET | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12204 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,301,344 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.PALACEALBANY.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1988 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 68 | TotalEmployeeCnt |
| Total Volunteers | 140 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $2,955,346 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,609,616 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $132,023 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,690,573 | CYProgramServiceRevenueAmt |
| PY Investment Income | $261 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,155 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $3,087,630 | PYTotalRevenueAmt |
| CY Total Revenue | $5,301,344 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $702,039 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,103,221 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $19,883 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $376,099 | PYOtherExpensesAmt |
| CY Other Expenses | $2,318,427 | CYOtherExpensesAmt |
| PY Total Expenses | $1,078,138 | PYTotalExpensesAmt |
| CY Total Expenses | $3,421,648 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,009,492 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,879,696 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $5,400,849 | TotalAssetsBOYAmt |
| Total Assets EOY | $7,859,988 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,407,977 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,987,420 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,992,872 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,872,568 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $2,467,395 | ExpenseAmt |
| Revenue | $3,690,573 | RevenueAmt |
| Desc | TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TO OPERATE THE PALACE THEATER AND FULLY UTILIZE ITS CULTURAL AND CIVIC VALUE TO THE COMMUNITY. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $2,467,395 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 20 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 68 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (true) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (true) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JULIA ELBAUM | PersonNm |
| Phone | 5184653335 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19 CLINTON AVENUE | AddressLine1Txt |
| City | ALBANY | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 12207 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| STEPHEN P BABOULIS | |||||||
| CHAIRMAN | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JOHN BENNETT MD | |||||||
| VICE CHAIRMA | 0.25 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JEFFREY STONE | |||||||
| TREASURER | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAMES BARBA | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| ALAN GOLDBERG | |||||||
| CHAIRMAN EME | 0.50 | Yes (X) | $0 | $0 | $0 | ||
| WALTER BORISENOK | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| PHILIP CALDERONE | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| THOMAS E D'AMBRA | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MARK EAGAN | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| GEORGE R HEARST III | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MARILYN PENDERGAST | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| DOMINICK PURNOMO | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| KATHY M SHEEHAN | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| RANDOLPH F TREECE | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| KEVIN JOHNSON | |||||||
| EXECUTIVE DI | 40.00 | Yes (X) | $59,740 | $0 | $0 | ||
| JULIA ELBAUM | |||||||
| DIRECTOR OF | 40.00 | Yes (X) | $133,726 | $0 | $0 | ||
| DANNY TAYLOR | |||||||
| GENERAL MANA | 40.00 | $109,179 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $302,645 | TotalReportableCompFromOrgAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Government Grants | $1,204,208 | GovernmentGrantsAmt |
| All Other Contributions | $405,408 | AllOtherContributionsAmt |
| Total Contributions | $1,609,616 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|
| PROGRAM REVENUE | $3,572,578 | $3,572,578 |
| ADVERTISING | $106,328 | $106,328 |
| CONTRACT SERVICE | $11,667 | $11,667 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,690,573 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,155 | TotalRevenueColumnAmt |
| Exclusion | $1,155 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,301,344 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,690,573 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $1,155 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $316,676 | TotalAmt |
| Management And General | $316,676 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $629,091 | TotalAmt |
| Program Services | $357,186 | ProgramServicesAmt |
| Management And General | $271,905 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,358 | TotalAmt |
| Program Services | $26,572 | ProgramServicesAmt |
| Management And General | $43,786 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,096 | TotalAmt |
| Program Services | $32,893 | ProgramServicesAmt |
| Management And General | $54,203 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,000 | TotalAmt |
| Management And General | $5,000 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
| Management And General | $10,000 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,485 | TotalAmt |
| Management And General | $4,485 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,288 | TotalAmt |
| Management And General | $5,172 | ManagementAndGeneralAmt |
| Fundraising | $116 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,711 | TotalAmt |
| Program Services | $26,023 | ProgramServicesAmt |
| Management And General | $20,688 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $78,344 | TotalAmt |
| Program Services | $72,634 | ProgramServicesAmt |
| Management And General | $5,710 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,794 | TotalAmt |
| Management And General | $80,794 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| ARTIST & PROMOTER FEES | $732,147 | $732,147 |
| OTHER EVENT EXPENSES | $569,869 | $569,869 |
| OUTSIDE LABOR | $296,506 | $296,506 |
| MEDIA & MARKETING | $128,234 | $128,234 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $361,049 | TotalAmt |
| Program Services | $225,331 | ProgramServicesAmt |
| Management And General | $115,951 | ManagementAndGeneralAmt |
| Fundraising | $19,767 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,421,648 | TotalAmt |
| Program Services | $2,467,395 | ProgramServicesAmt |
| Management And General | $934,370 | ManagementAndGeneralAmt |
| Fundraising | $19,883 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $869,937 | BOYAmt |
| EOY | $1,179,489 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,290,620 | BOYAmt |
| EOY | $4,159,903 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,295 | BOYAmt |
| EOY | $75,101 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $985 | BOYAmt |
| EOY | $20,591 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $78,344 | BOYAmt |
| EOY | $72,362 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,057,807 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $712,694 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,051,529 | BOYAmt |
| EOY | $2,345,113 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,139 | BOYAmt |
| EOY | $7,429 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,400,849 | BOYAmt |
| EOY | $7,859,988 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,117,505 | BOYAmt |
| EOY | $1,722,200 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,879 | BOYAmt |
| EOY | $83,792 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,218,593 | BOYAmt |
| EOY | $1,181,428 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,407,977 | BOYAmt |
| EOY | $2,987,420 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,960,657 | BOYAmt |
| EOY | $4,527,818 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,215 | BOYAmt |
| EOY | $344,750 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,992,872 | BOYAmt |
| EOY | $4,872,568 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,400,849 | BOYAmt |
| EOY | $7,859,988 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,879,696 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,218,980 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $242,644 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $137,106 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,955,346 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,609,616 | CurrentTaxYearAmt |
| Total | $6,163,692 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,218,980 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $242,644 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $137,106 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,955,346 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,609,616 | CurrentTaxYearAmt |
| Total | $6,163,692 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $6,163,692 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $6,624 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $12,767 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,382 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $261 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,155 | CurrentTaxYearAmt |
| Total | $24,189 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $98,823 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $287 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $65 | CurrentTaxYearMinus2YearsAmt |
| Total | $99,175 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $6,287,056 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $18,454,800 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.98040 | PublicSupportCY170Pct |
| Public Support PY170 | 0.95390 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, LINE 10 | FormAndLineReferenceDesc |
| Explanation | MISCELLANEOUS REVENUE 9,633 NET INCOME FROM FUNDRAISING EVENTS 89,542 | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $657,456 | OtherCostOrOtherBasisAmt |
| Book Value | $657,456 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $840,934 | OtherCostOrOtherBasisAmt |
| Depreciation | $96,357 | DepreciationAmt |
| Book Value | $744,577 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $494,343 | OtherCostOrOtherBasisAmt |
| Depreciation | $200,493 | DepreciationAmt |
| Book Value | $293,850 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $478,892 | OtherCostOrOtherBasisAmt |
| Depreciation | $392,107 | DepreciationAmt |
| Book Value | $86,785 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $586,182 | OtherCostOrOtherBasisAmt |
| Depreciation | $23,737 | DepreciationAmt |
| Book Value | $562,445 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,345,113 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $5,301,344 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $5,301,344 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $5,301,344 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,421,648 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $3,421,648 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $3,421,648 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 3, PART X | FormAndLineReferenceDesc |
| Explanation | THE PALACE HAS ADOPTED FASB ASC 740-10.25, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE PALACE FILES FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. FORM 990 IS FILED SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. THE ADOPTION OF THIS STANDARD RESULTED IN NO UNCERTAIN TAX BENEFITS OR PROVISIONS IDENTIFIED AND RECORDED AS A LIABILITY OR ASSET. THE PALACE BELIEVES THAT THERE ARE NO TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD SIGNIFICANTLY INCREASE OR DECREASE UNRECOGNIZED TAX BENEFITS WITHIN 12 MONTHS OF THE REPORTING DATE. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 2, PART III, LINE 4D | TO OPERATE THE PALACE THEATER AND FULLY UTILIZE ITS CULTURAL AND CIVIC VALUE TO THE COMMUNITY. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING THE RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 12C | BOARD MEMBERS ARE REQUIRED TO FILL OUT ANNUAL QUESTIONNAIRES TO MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE PALACE'S HIRING PROCESS FOR THE CURRENT EXECUTIVE DIRECTOR WAS CONDUCTED BY THE EXECUTIVE COMMITTEE WITH A PHONE VOTE HELD FOR THE FULL BOARD. THE APPROPRIATE LEVEL OF COMPENSATION WAS DETERMINED BY TWO BOARD MEMBERS WITH APPROVAL BY THE FULL BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 24E | REPAIRS & MAINTENANCE 73,847 39,476 0 UTILITIES 92,004 4,845 0 EDUCATION PROGRAMS 38,114 0 0 STAFF EXPENSES 0 36,688 95 TELEPHONE 20,457 1,074 0 FUNDRAISING EXPENSES 0 0 19,672 PAYROLL SERVICE 0 8,719 0 OFFICESUPPLIES & POSTAGE 0 6,574 0 COMMUNITY ENGAGEMENT 0 6,571 0 LEASE EXPENSES 0 6,407 0 DUES & SUBSCRIPTIONS 0 4,825 0 MISCELLANEOUS 909 272 0 WEBSITE 0 500 0 TOTAL 225,331 115,951 19,767 |
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