Palace Theater Group Inc
Palace Theater Group Inc shows consistent asset growth and no reported officer compensation, with fluctuating but generally positive operating results.
EIN: 20620399 · Waterbury, CT · NTEE: A61 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.9M |
| Total Expenses | $4.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $7.9 |
| Net Assets | $6.6M |
| Transparency Score | 85/100 |
Is Palace Theater Group Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Palace Theater Group Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Palace Theater Group Inc
Palace Theater Group Inc (EIN: 20620399) is a nonprofit organization based in Waterbury, CT, classified under NTEE code A61. The organization reported total revenue of $7.9M and total assets of $8.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palace Theater Group Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palace Theater Group Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.9M |
| Total Expenses | $4.8M |
| Surplus / Deficit | +$94K |
| Total Assets | $7.8M |
| Total Liabilities | $1.2M |
| Net Assets | $6.6M |
| Operating Margin | 1.9% |
| Debt-to-Asset Ratio | 15.9% |
| Months of Reserves | 19.6 months |
Financial Health Grade: A
In 2023, Palace Theater Group Inc reported a surplus of $94K with revenue exceeding expenses, holds 19.6 months of operating reserves (strong position), has a debt-to-asset ratio of 15.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Palace Theater Group Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -34.7% | +2.5% | +9.4% |
| 2022 | +350.4% | +224.5% | +38.0% |
| 2021 | -59.5% | -67.7% | +25.3% |
| 2020 | -8.9% | -11.0% | -2.9% |
| 2019 | -19.1% | -14.9% | -9.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2004 |
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 Theater Group 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Palace Theater Group Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $94K, with revenue exceeding expenses.
- Debt-to-asset ratio: 15.9%.
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 revenues reaching $7.9 million. This suggests either a volunteer leadership structure or that executive compensation is categorized differently within the financial statements, warranting further inquiry into the specific line items for salaries and other compensation.
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 Theater Group Inc's IRS 990 filings:
- Consistent 0% officer compensation for an organization of this size, which may obscure actual executive compensation if reported elsewhere.
Strengths
The following positive indicators were identified for Palace Theater Group Inc:
- Consistent asset growth, increasing from $4.25 million in 2019 to $7.80 million in 2023.
- Generally positive net income in recent years (e.g., 2023 revenue $4.86M vs. expenses $4.77M).
- Healthy liability-to-asset ratio, indicating strong financial solvency (e.g., 16% in 2023).
Frequently Asked Questions about Palace Theater Group Inc
Is Palace Theater Group Inc a legitimate charity?
Palace Theater Group Inc (EIN: 20620399) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $7.9M. 1 red flag identified. 3 strengths noted. Financial health grade: A.
How does Palace Theater Group Inc spend its money?
Palace Theater Group Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Palace Theater Group Inc tax-deductible?
Palace Theater Group Inc is registered as a tax-exempt nonprofit (EIN: 20620399). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Palace Theater Group Inc CEO make?
Palace Theater Group Inc's highest-compensated officer earns $7.9 annually. The organization reported $7.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Palace Theater Group Inc's spending goes to programs?
Palace Theater Group Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Palace Theater Group Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Palace Theater Group Inc is above average for NTEE category A61 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Palace Theater Group Inc located?
Palace Theater Group Inc is headquartered in Waterbury, Connecticut and files with the IRS under EIN 20620399. It is classified under NTEE code A61.
How many years of IRS 990 filings does Palace Theater Group Inc have?
Palace Theater Group 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 $7.9M in total revenue.
How is executive leadership compensated if 'Officer Comp' is consistently reported as 0%?
The IRS 990 filings consistently show 0% for officer compensation. This could mean that the top leadership is entirely volunteer, or their compensation is reported under other expense categories like 'salaries and wages' for employees rather than specifically 'officers'. Further detailed review of the full 990 form, specifically Part VII, Section A, would be necessary to understand the compensation structure for key employees and officers.
What caused the significant revenue increase in 2022 ($7,444,031) compared to 2021 ($1,652,838)?
The substantial jump in revenue from $1.65 million in 2021 to $7.44 million in 2022 suggests a strong recovery post-pandemic or a significant one-time event, grant, or fundraising success. This could indicate effective strategic planning or a return to normal operational capacity after COVID-19 related disruptions.
What is the primary source of the organization's revenue given the fluctuations?
The revenue figures show considerable variability year-to-year. To understand the primary sources, one would need to examine Part VIII of the IRS 990, 'Statement of Revenue,' which breaks down revenue by contributions, program service revenue, investment income, and other sources. This would clarify if the organization relies more on donations, ticket sales, or grants.
Filing History
IRS 990 filing history for Palace Theater Group Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Palace Theater Group Inc's revenue has declined by 3%, moving from $5.0M to $4.9M. Total assets increased by 78.2% over the same period, from $4.4M to $7.8M. Total functional expenses fell by 2.2%, from $4.9M to $4.8M. In its most recent filing year (2023), Palace Theater Group Inc reported a surplus of $94K, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $7.8M in assets (debt-to-asset ratio: 15.9%), resulting in net assets of $6.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.9M | $4.8M | $7.8M | $1.2M | — | View 990 |
| 2022 | $7.4M | $4.7M | $7.1M | $931K | — | View 990 |
| 2021 | $1.7M | $1.4M | $5.2M | $1.1M | — | View 990 |
| 2020 | $4.1M | $4.4M | $4.1M | $973K | — | View 990 |
| 2019 | $4.5M | $5.0M | $4.3M | $831K | — | View 990 |
| 2018 | $5.5M | $5.9M | $4.7M | $865K | — | View 990 |
| 2017 | $5.8M | $5.2M | $5.3M | $1.3M | — | View 990 |
| 2016 | $4.0M | $4.3M | $4.3M | $999K | — | View 990 |
| 2015 | $4.8M | $4.9M | $4.3M | $765K | — | View 990 |
| 2014 | $4.5M | $4.5M | $4.5M | $956K | — | View 990 |
| 2013 | $4.4M | $4.5M | $4.5M | $1.7M | — | View 990 |
| 2012 | $4.5M | $4.7M | $4.2M | $1.3M | — | View 990 |
| 2011 | $5.0M | $4.9M | $4.4M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.9M, expenses of $4.8M, and assets of $7.8M (revenue -34.7% year-over-year).
- 2022: Revenue of $7.4M, expenses of $4.7M, and assets of $7.1M (revenue +350.4% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.4M, and assets of $5.2M (revenue -59.5% year-over-year).
- 2020: Revenue of $4.1M, expenses of $4.4M, and assets of $4.1M (revenue -8.9% year-over-year).
- 2019: Revenue of $4.5M, expenses of $5.0M, and assets of $4.3M (revenue -19.1% year-over-year).
- 2018: Revenue of $5.5M, expenses of $5.9M, and assets of $4.7M (revenue -4.4% year-over-year).
- 2017: Revenue of $5.8M, expenses of $5.2M, and assets of $5.3M (revenue +45.1% year-over-year).
- 2016: Revenue of $4.0M, expenses of $4.3M, and assets of $4.3M (revenue -17.2% year-over-year).
- 2015: Revenue of $4.8M, expenses of $4.9M, and assets of $4.3M (revenue +7.3% year-over-year).
- 2014: Revenue of $4.5M, expenses of $4.5M, and assets of $4.5M (revenue +2.2% year-over-year).
- 2013: Revenue of $4.4M, expenses of $4.5M, and assets of $4.5M (revenue -2.7% year-over-year).
- 2012: Revenue of $4.5M, expenses of $4.7M, and assets of $4.2M (revenue -9.8% year-over-year).
- 2011: Revenue of $5.0M, expenses of $4.9M, and assets of $4.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palace Theater Group Inc:
Data Sources and Methodology
This transparency report for Palace Theater Group 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.