Is Palace Performing Arts Center Inc Legit?

Quick charity verification for Palace Performing Arts Center Inc (EIN: 141708151)

Verdict: Palace Performing Arts Center Inc appears trustworthy

85/100Mission Score

$4.9MRevenue

$7.8MAssets

1Red Flags

4Strengths

Red Flags

Unusually low or zero reported officer compensation (may indicate reporting discrepancies or unique operational model)

Strengths

Strong asset growth, nearly doubling from $3.6M in 202006 to $7.4M in 202306
Consistent reporting of 0% officer compensation, suggesting high resource allocation to mission
Positive net income in recent years (e.g., $1.8M surplus in 202206)
Significant recovery from pandemic-era financial dips

Spending Breakdown

How Palace Performing Arts Center Inc allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Palace Performing Arts Center Inc

Is Palace Performing Arts Center Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Palace Performing Arts Center Inc (EIN: 141708151) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.

Is Palace Performing Arts Center Inc a good charity to donate to?

Palace Performing Arts Center Inc has a Mission Score of 85/100. Revenue: $4.9M. Assets: $7.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Palace Performing Arts Center Inc?

The Employer Identification Number (EIN) for Palace Performing Arts Center Inc is 141708151. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Palace Performing Arts Center Inc spend its money?

Palace Performing Arts Center Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Palace Performing Arts Center Inc's tax-exempt status?

You can verify Palace Performing Arts Center Inc's tax-exempt status using EIN 141708151 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Palace Performing Arts Center Inc demonstrates generally sound financial health, with a notable recovery in assets and revenue post-pandemic. In the 202206 period, the organization reported revenue of $5,301,344 against expenses of $3,421,648, indicating a significant surplus. While the latest filing (202306) shows a smaller surplus with revenue of $4,216,101 and expenses of $4,067,894, the trend over the last few years indicates a positive trajectory after some periods of deficit spending, such as in 201906 where expenses ($7,449,463) exceeded revenue ($6,455,762).

The organization's spending efficiency appears reasonable, though specific program, administrative, and fundraising breakdowns are not provided in the summary data. However, the consistent positive net assets, growing from $3,613,053 in 202006 to $7,460,484 in 202306, suggest effective management of resources. The absence of reported officer compensation across all filings is a significant factor in assessing transparency and resource allocation.

Overall, the Palace Performing Arts Center Inc appears to be a financially stable organization, effectively managing its resources to grow its asset base. The lack of reported officer compensation enhances its transparency profile, suggesting that a larger portion of funds may be directed towards its mission. Further detailed analysis of functional expenses would provide a more granular view of spending efficiency.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.