Palace Performing Arts Center Inc

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Palace Performing Arts Center Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Palace Performing Arts Center Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Palace Performing Arts Center Inc in one place.

Is Palace Performing Arts Center Inc Legit?

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Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Request a concise report for Palace Performing Arts Center Inc with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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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:

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%.

IRS Tax-Exempt Classification

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

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-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.