Palace Cultural Arts Association
- Assets
- $6.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Marion, OH
- Founding
- 06/1975
- Data as of
- 06/2020
- EIN
- 23-7456843
Organization Overview
Palace Cultural Arts Association is located in Marion, OH. The organization was established in 1975. 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 06/2021, Palace Cultural Arts Association employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palace Cultural Arts Association 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 06/2020, Palace Cultural Arts Association generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LIVE THEATRICAL AND MUSICAL PRODUCTIONS FOR THE PUBLIC AND TO EXPOSE SCHOOL STUDENTS TO THE PERFORMING ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LIVE THEATRICAL AND MUSICAL PRODUCTIONS FOR THE PUBLICE AND TO EXPOSE SCHOOL STUDENTS TO THE PERFORMING ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bev Ford Director | Trustee | 40 | $74,913 |
Jodi Cooper Business Manage | Trustee | 40 | $41,600 |
Sue Jacob Chairman | Officer | 0 | $0 |
Daniel Bradshaw Secretary | Officer | 0 | $0 |
Mike Stuckey Past Chair | Officer | 0 | $0 |
Gary Branson Treasurer | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $899,959 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,180 |
| 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 | $1,634,836 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,512 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $243,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,384 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,324 |
| Office expenses | $13,242 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,828 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $291,607 |
| Insurance | $59,356 |
| All other expenses | $0 |
| Total functional expenses | $1,331,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $691,626 |
| Savings and temporary cash investments | $4,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,681 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,381 |
| Other assets | $410,136 |
| Total assets | $6,267,417 |
| Accounts payable and accrued expenses | $21,213 |
| Grants payable | $0 |
| Deferred revenue | $290,673 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3 |
| Total liabilities | $311,889 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $5,955,528 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Palace Cultural Arts Association has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
William K Davis Test Tr Marion, OH PURPOSE: COMMUNITY SUPPORT | $10,000 |
William K Davis Test Tr Marion, OH PURPOSE: RENTALS | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mann Center For The Performing Arts Philadelphia, PA | $32,818,014 | $23,395,696 |
Columbus Association For The Performing Arts Inc Columbus, OH | $47,823,383 | $16,173,985 |
Victoria Theatre Association Dayton, OH | $35,834,057 | $28,922,737 |
Broadway Grand Rapids Grand Rapids, MI | $2,343,299 | $13,547,749 |
Detroit Opera Detroit, MI | $46,812,293 | $9,178,032 |
Cincinnati Arts Association Cincinnati, OH | $56,926,622 | $8,741,930 |
Strand-Capitol Performing Arts Center Inc York, PA | $13,276,794 | $10,332,110 |
Luther F Carson Four Rivers Center Inc Paducah, KY | $59,072,684 | $5,458,266 |
Music Hall Center For The Performing Arts Inc Detroit, MI | $3,982,183 | $5,279,340 |
State Theatre Center For The Arts Inc Easton, PA | $9,301,794 | $4,832,518 |
Embassy Theatre Foundation Inc Fort Wayne, IN | $19,673,626 | $5,039,603 |
Great Lakes Center For The Arts Bay Harbor, MI | $37,486,193 | $6,372,255 |