Overview
What is The Palace Theater Group Inc?
The Palace Theater Group Inc, based in Waterbury, Connecticut, is a nonprofit organization dedicated to fostering an artistic, cultural, educational, social, and financial impact in the local community. They achieve this through the maintenance and operation of the historic Palace Theater, transforming it into a vibrant performing arts center and community gathering place. By hosting a variety of plays and shows, this organization serves as a cultural hub that caters to diverse audiences, offering a focal point for educational outreach. With a staff of 190 individuals, the Palace Theater Group Inc plays a significant role in enriching the cultural landscape of the greater Waterbury area.
Official website here: www.palacetheaterct.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% - Four-Star out of Four Star rating.
The Palace Theater Group Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its high performance in accountability and finance. This rating is significant as it highlights the organization's commitment to transparency and responsible financial management, which is crucial for fostering donor trust and support.
The organization boasts an entirely independent board and a robust oversight committee, ensuring that all financial activities are conducted with integrity. With an impressive program expense ratio of 80%, the majority of its funds are directed towards program services, indicating effective use of resources in fulfilling its mission.
While the organization demonstrates strong financial health with a low liabilities to assets ratio, it is essential for potential donors and stakeholders to review this rating as part of their broader analysis. Overall, the Palace Theater Group Inc stands out as a well-managed nonprofit dedicated to its cause.
This AI summary has been generated from information found on Charity Navigator.
Is The Palace Theater Group Inc legitimate?
The Palace Theater Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Palace Theater Group Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $314,804
Professional Fundraising Fees: $0
Other Salaries and Wages: $903,954
For more financial information, click here
Official website here: www.palacetheaterct.org
What is the mission statement of The Palace Theater Group Inc?
The mission of The Palace Theater Group Inc is centered around generating a positive impact in various aspects of its community. This impact encompasses artistic, cultural, educational, social, and financial domains. The group achieves this by preserving and operating a historic performing arts center, the Palace Theater. This venue serves as a focal point for cultural activities and educational outreach, catering to diverse audiences, thereby fostering a sense of community gathering. The Palace Theater Group Inc's endeavors aim to enrich the local community by providing a platform for entertainment and learning opportunities.
Official website here: www.palacetheaterct.org
What is the revenue of The Palace Theater Group Inc?
The Palace Theater Group Inc's revenue in 2024 was $6,777,234.
Official website here: www.palacetheaterct.org
Who are the executives of The Palace Theater Group Inc and what are their salaries?
The average compensation at The Palace Theater Group Inc during 2024 was $4,247. There are 287 employees and 135 volunteers at The Palace Theater Group Inc.
Here are 25 key members and their salaries:
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Official website here: www.palacetheaterct.org
Where can I find the form 990 for The Palace Theater Group Inc?
The Palace Theater Group Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.palacetheaterct.org
Learn more at the official website: www.palacetheaterct.org
Mission Statement of The Palace Theater Group Inc
The Palace Theater Group, a nonprofit organization, is committed to making a positive impact on the artistic, cultural, educational, social, and financial landscape of a wider community in Connecticut. At the heart of their mission is the preservation and operation of the historic Palace Theater, transforming it into a vibrant performing arts center and a community gathering place. This center serves as a focal point of cultural activity and educational outreach, catering to diverse audiences. The Palace Theater Group's goal is to provide an engaging and enriching experience, fostering a sense of unity and shared appreciation for the arts within the community.
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Impact
July, 2024
The Palace Theater Group Inc's impact is significant in the Greater Waterbury, Connecticut area. By maintaining the historic Palace Theater as a performing arts center and community gathering place, they provide a focal point of cultural activity and educational outreach for diverse audiences. Through the presentation of various plays and shows, The Palace Theater Group promotes interest in the theatre arts in the local community, contributing to the artistic, cultural, educational, and social enrichment of the region. Their mission to generate a positive impact extends beyond entertainment to support the overall well-being and vibrancy of the community.
This information is meant to be a general summary of The Palace Theater Group Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $92,677
- Program Service Revenue: $4,789,062
- Gross Receipts: $7,905,148
Assets and Liabilities:
- Total Assets: $7,137,767
- Total Liabilities: $931,426
- Net Assets: $6,206,341
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENTS AND SHOW REVENUE
Revenue
$4,438,402
WAMS PROGRAM INCOME
Revenue
$250,000
RESTORATION FEES
Revenue
$55,157
PARKING INCOME
Revenue
$45,503
Organization Details
Founding Year
2002
Principal Officer
Frank Tavera
Website
www.palacetheaterct.orgNTEE Category
Code: A61 - Arts
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