Palace Performing Arts Center Inc
Palace Performing Arts Center Inc shows financial recovery and asset growth with no reported officer compensation.
EIN: 141708151 · Albany, NY · NTEE: A61Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.9M |
| Total Expenses | $4.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $4 |
| Net Assets | $5.0M |
| Transparency Score | 85/100 |
Is Palace Performing Arts Center Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Palace Performing Arts Center Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Palace Performing Arts Center Inc
Palace Performing Arts Center Inc (EIN: 141708151) is a nonprofit organization based in Albany, NY, classified under NTEE code A61Z. The organization reported total revenue of $4.9M and total assets of $7.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palace Performing Arts Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palace Performing Arts Center Inc is a mid-size nonprofit that has been operating for 37 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $4.1M |
| Surplus / Deficit | +$148K |
| Total Assets | $7.5M |
| Total Liabilities | $2.4M |
| Net Assets | $5.0M |
| Operating Margin | 3.5% |
| Debt-to-Asset Ratio | 32.7% |
| Months of Reserves | 22.0 months |
Financial Health Grade: A
In 2023, Palace Performing Arts Center Inc reported a surplus of $148K with revenue exceeding expenses, holds 22.0 months of operating reserves (strong position), has a debt-to-asset ratio of 32.7% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Palace Performing Arts Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -20.5% | +18.9% | -5.1% |
| 2022 | +71.7% | +217.4% | +45.5% |
| 2021 | -10.9% | -70.7% | +49.5% |
| 2020 | -46.3% | -50.6% | -10.5% |
| 2019 | -0.4% | +34.0% | -19.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Palace Performing Arts Center Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Palace Performing Arts Center Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $148K, with revenue exceeding expenses.
- Debt-to-asset ratio: 32.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with annual revenues exceeding $4 million. This suggests either that executive compensation is not reported under 'officer compensation' or that leadership is entirely volunteer-based, which would be a significant strength in terms of resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Palace Performing Arts Center Inc's IRS 990 filings:
- Unusually low or zero reported officer compensation (may indicate reporting discrepancies or unique operational model)
Strengths
The following positive indicators were identified for Palace Performing Arts Center Inc:
- 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
Frequently Asked Questions about Palace Performing Arts Center Inc
Is Palace Performing Arts Center Inc a legitimate charity?
Palace Performing Arts Center Inc (EIN: 141708151) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $4.9M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Palace Performing Arts Center Inc spend its money?
Palace Performing Arts Center Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Palace Performing Arts Center Inc tax-deductible?
Palace Performing Arts Center Inc is registered as a tax-exempt nonprofit (EIN: 141708151). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Palace Performing Arts Center Inc CEO make?
Palace Performing Arts Center Inc's highest-compensated officer earns $4 annually. The organization reported $4.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Palace Performing Arts Center Inc's spending goes to programs?
Palace Performing Arts Center Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Palace Performing Arts Center Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Palace Performing Arts Center Inc is above average for NTEE category A61Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Palace Performing Arts Center Inc located?
Palace Performing Arts Center Inc is headquartered in Albany, New York and files with the IRS under EIN 141708151. It is classified under NTEE code A61Z.
How many years of IRS 990 filings does Palace Performing Arts Center Inc have?
Palace Performing Arts Center Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.9M in total revenue.
Is Palace Performing Arts Center Inc a good charity?
Based on the provided data, the organization demonstrates strong financial health, asset growth, and a remarkable absence of reported officer compensation, suggesting a high dedication of resources to its mission. These factors generally indicate it is a well-managed charity.
How has the organization's financial health changed over time?
The organization experienced periods of deficit spending (e.g., 201906, 202006) but has shown significant financial recovery and growth in assets, particularly from 202006 ($3,613,053 assets) to 202306 ($7,460,484 assets), indicating improved financial management and stability.
What is the trend in revenue and expenses?
Revenue and expenses have fluctuated, with a peak in revenue in 201906 ($6,455,762) and a low in 202106 ($3,087,630). Recent years show a healthy balance, with revenue exceeding expenses in 202206 ($5,301,344 revenue vs. $3,421,648 expenses) and a smaller surplus in 202306 ($4,216,101 revenue vs. $4,067,894 expenses).
Are there any concerns regarding executive pay?
No, the filings consistently report 0% officer compensation, which is a positive indicator for resource allocation and transparency, though it warrants further investigation to understand how leadership is compensated, if at all.
Filing History
IRS 990 filing history for Palace Performing Arts Center Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Palace Performing Arts Center Inc's revenue has grown by 346.3%, moving from $945K to $4.2M. Total assets increased by 732.7% over the same period, from $896K to $7.5M. Total functional expenses rose by 246.2%, from $1.2M to $4.1M. In its most recent filing year (2023), Palace Performing Arts Center Inc reported a surplus of $148K, with revenue exceeding expenses. The organization holds $2.4M in liabilities against $7.5M in assets (debt-to-asset ratio: 32.7%), resulting in net assets of $5.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $4.1M | $7.5M | $2.4M | — | View 990 |
| 2022 | $5.3M | $3.4M | $7.9M | $3.0M | — | View 990 |
| 2021 | $3.1M | $1.1M | $5.4M | $2.4M | — | View 990 |
| 2020 | $3.5M | $3.7M | $3.6M | $2.6M | — | View 990 |
| 2019 | $6.5M | $7.4M | $4.0M | $2.8M | — | View 990 |
| 2018 | $6.5M | $5.6M | $5.0M | $2.8M | — | View 990 |
| 2017 | $5.4M | $5.2M | $2.7M | $1.4M | — | View 990 |
| 2016 | $4.0M | $4.0M | $2.7M | $1.6M | — | View 990 |
| 2015 | $4.4M | $4.1M | $2.9M | $1.8M | — | View 990 |
| 2014 | $2.9M | $2.8M | $2.1M | $1.4M | — | View 990 |
| 2013 | $2.5M | $2.4M | $1.3M | $694K | — | View 990 |
| 2012 | $1.3M | $1.2M | $1.3M | $790K | — | View 990 |
| 2011 | $945K | $1.2M | $896K | $390K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $4.1M, and assets of $7.5M (revenue -20.5% year-over-year).
- 2022: Revenue of $5.3M, expenses of $3.4M, and assets of $7.9M (revenue +71.7% year-over-year).
- 2021: Revenue of $3.1M, expenses of $1.1M, and assets of $5.4M (revenue -10.9% year-over-year).
- 2020: Revenue of $3.5M, expenses of $3.7M, and assets of $3.6M (revenue -46.3% year-over-year).
- 2019: Revenue of $6.5M, expenses of $7.4M, and assets of $4.0M (revenue -0.4% year-over-year).
- 2018: Revenue of $6.5M, expenses of $5.6M, and assets of $5.0M (revenue +20.4% year-over-year).
- 2017: Revenue of $5.4M, expenses of $5.2M, and assets of $2.7M (revenue +34.0% year-over-year).
- 2016: Revenue of $4.0M, expenses of $4.0M, and assets of $2.7M (revenue -9.2% year-over-year).
- 2015: Revenue of $4.4M, expenses of $4.1M, and assets of $2.9M (revenue +50.8% year-over-year).
- 2014: Revenue of $2.9M, expenses of $2.8M, and assets of $2.1M (revenue +18.7% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.4M, and assets of $1.3M (revenue +97.5% year-over-year).
- 2012: Revenue of $1.3M, expenses of $1.2M, and assets of $1.3M (revenue +32.5% year-over-year).
- 2011: Revenue of $945K, expenses of $1.2M, and assets of $896K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palace Performing Arts Center Inc:
Data Sources and Methodology
This transparency report for Palace Performing Arts Center Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.