Palace Performing Arts Center Inc

Organization Overview

Palace Performing Arts Center Inc is located in Albany, NY. The organization was established in 1989. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Palace Performing Arts Center Inc employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palace Performing Arts Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Palace Performing Arts Center Inc generated $5.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $3.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY.


TO OPERATE THE PALACE THEATER AND FULLY UTILIZE ITS CULTURAL AND CIVIC VALUE TO THE COMMUNITY.


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Board, Officers & Key Employees

Name (title)Compensation
Julia Elbaum
Director Of
$133,726
Danny Taylor
General Mana
$109,179
Kevin Johnson
Executive Di
$59,740
Stephen P Baboulis
Chairman
$0
John Bennett MD
Vice Chairma
$0
Jeffrey Stone
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,204,208
All other contributions, gifts, grants, and similar amounts not included above$405,408
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,609,616
Total Program Service Revenue$3,690,573
Investment income $1,155
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,301,344

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Palace Performing Arts Center Inc has recieved totaling $90,672.

Awarding OrganizationAmount
The Community Foundation For The Greater Capital Region Inc

Albany, NY

PURPOSE: FOR THE MARQUEE PROJECT

$35,000
Wsb Family Foundation

Albany, NY

PURPOSE: DONATION

$25,000
Upstate Theater Coalition For A Fairgame Inc

Schenectady, NY

PURPOSE: SUPPORT OF THE ARTS

$11,667
Mvp Health Plan Inc

Schenectady, NY

PURPOSE: MARQUEE INITIATIVE DONATION

$10,000
Albany Food And Wine Festival Inc

Albany, NY

PURPOSE: GENERAL SUPPORT

$9,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$5
View Grant Recipient Profile

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