Overview
What is Historic Palace Inc?
Historic Palace Inc, based in Lockport, New York, is a dedicated nonprofit organization with a mission to preserve and maintain a significant piece of the community's heritage – its historic theater. With a staff of 13 individuals, the organization is committed to preserving and upholding the theater's historical significance, ensuring its longevity and continued enjoyment by community members. This mission extends beyond simple upkeep, as the organization works diligently to maintain the theater's integrity and enrich the cultural landscape of the area.
Official website here: www.lockportpalacetheatre.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: Zero-Star out of Four Stars (48%)
Historic Palace Inc has received a low rating of 48%, resulting in a Zero-Star designation. This score indicates significant concerns regarding the organization's accountability and financial practices, with the overall assessment being driven entirely by a single beacon score. The charity demonstrates strong governance features, such as having 100% independent board members and a robust audit and oversight committee.
However, the organization lacks critical policies that are essential for transparency and accountability, including a conflict of interest policy and a whistleblower policy. Additionally, there are issues with the financial health indicators, notably a poor liabilities to assets ratio and a low program expense ratio, which suggests that a smaller percentage of resources are directed towards its programs.
While Historic Palace Inc exhibits some strengths in governance, the absence of necessary policies and financial management issues raises red flags for potential donors and stakeholders. This suggests that while the organization may have good intentions, its operations may not align with best practices in nonprofit management.
This AI summary has been generated from information found on Charity Navigator.
Is Historic Palace Inc legitimate?
Historic Palace Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Historic Palace 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $297,739
For more financial information, click here
Official website here: www.lockportpalacetheatre.com
What is the mission statement of Historic Palace Inc?
Historic Palace Inc's mission is centered around preserving and maintaining a historic theater within the community. This commitment extends beyond mere upkeep, as the organization strives to ensure the theater continues to serve as a vital cultural hub. Through their efforts, they aim to preserve the theater's historical significance while keeping it accessible and relevant for future generations. Their mission is essentially about safeguarding the theater's legacy and ensuring it continues to contribute to the community's cultural life.
Official website here: www.lockportpalacetheatre.com
Who is the CEO of Historic Palace Inc?
Phil Czarnecki is the President of Historic Palace Inc.
Official website here: www.lockportpalacetheatre.com
What is the revenue of Historic Palace Inc?
Historic Palace Inc's revenue in 2022 was $2,038,484.
Official website here: www.lockportpalacetheatre.com
Who are the executives of Historic Palace Inc and what are their salaries?
The average compensation at Historic Palace Inc during 2022 was $22,903. There are 13 employees at Historic Palace Inc.
Here are 9 key members and their salaries:
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Official website here: www.lockportpalacetheatre.com
Where can I find the form 990 for Historic Palace Inc?
Historic Palace Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lockportpalacetheatre.com
Learn more at the official website: www.lockportpalacetheatre.com
Mission Statement of Historic Palace Inc
Historic Palace Inc, as its mission statement suggests, is dedicated to the preservation and maintenance of a community historic theatre. This nonprofit organization's primary focus is on safeguarding the historical significance and charm of a local theatre, ensuring it continues to serve as a cultural hub for the community. Through its efforts, Historic Palace Inc works tirelessly to maintain the theatre's architectural integrity, while also fostering its continued use for performances, events, and community gatherings. By preserving this historic theatre, Historic Palace Inc contributes to the rich cultural heritage of the community, providing a space for generations to come to appreciate and enjoy the performing arts.
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Impact
October, 2024
Historic Palace Inc plays a vital role in the cultural and historical landscape of Lockport, NY, through its commitment to preserving and maintaining the community's historic theatre. By safeguarding this landmark, the organization not only honors the rich heritage and history of the area but also provides a space for the arts to flourish. This preservation effort fosters community pride and engagement, offering residents access to cultural events and performances that enrich their lives. The theatre serves as a hub for artistic expression, bringing together local artists and audiences, while also attracting visitors to the region. Through its initiatives, Historic Palace Inc ensures that the legacy of the historic theatre continues to thrive, contributing significantly to the community's identity and vitality.
This information is meant to be a general summary of Historic Palace 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 2022.
- Program Service Revenue: $550,554
- Gross Receipts: $2,087,696
Assets and Liabilities:
- Total Assets: $4,212,813
- Total Liabilities: $979,906
- Net Assets: $3,232,907
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
THEATRE PERFORMANCE & RENTAL
Revenue
$550,554
Organization Details
Founding Year
2000
Phone
(716) 438-1130Principal Officer
Phil Czarnecki
Main Address
2 EAST AVENUE, LOCKPORT, NY, 14095
NTEE Category
Code: A65 - Arts
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