Overview
What is Palace Theatre Trust?
Palace Theatre Trust is a nonprofit organization situated in Manchester, New Hampshire, with an address at 80 Hanover Street, 03101. Their primary mission is to enrich the cultural landscape of the region by offering a wide array of exceptional live performances and educational opportunities for patrons, artists, children, and people of all ages. The trust hosts a diverse selection of events, including in-house produced musical theater, top-name entertainment, non-profit fundraising events, and community events rentals. Approximately 120,000 patrons attend over 252 performances and events annually. The trust also has a strong commitment to youth by offering the Palace Theatre/Forever Emma Studios Youth Initiatives. These initiatives allow more than 19,000 children to participate in theatrical productions through vacation camps, specialized acting companies, and vocal, dancing, or acting classes. In addition to live performances, Palace Theatre Trust serves as a community resource by providing a broad range of high-quality professional and community performances, along with educational opportunities for performers and audiences of all ages. The trust's workforce consists of 84 dedicated individuals.
Official website here: www.palacetheatre.org
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 96% (Four-Star out of Four Stars)**
The Palace Theatre Trust has earned an impressive Four-Star rating from Charity Navigator, signifying a high level of accountability and financial transparency. This score is primarily driven by their exceptional metrics in accountability and finance, highlighting their commitment to ethical practices and responsible management of resources. With a majority of 96% independent board members and a substantial independent board size of 24, the organization demonstrates strong governance.
Financially, the Palace Theatre Trust showcases robust performance with a program expense ratio of over 72%. This indicates that a significant portion of their expenditures directly supports their mission, rather than administrative costs. Their compliance with various essential policies, such as whistleblower and conflict of interest policies, reinforces their dedication to transparency and ethical governance.
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This AI summary has been generated from information found on Charity Navigator.
Is Palace Theatre Trust legitimate?
Palace Theatre Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palace Theatre Trust 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: $137,144
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,806,012
For more financial information, click here
Official website here: www.palacetheatre.org
What is the mission statement of Palace Theatre Trust?
The Palace Theatre Trust's mission is to enrich the cultural life of its community by serving as a resource through the stewardship of a historic theater. This is achieved by providing a wide array of live, high-quality professional and community performances, as well as educational opportunities for performers and audiences of all ages. The trust's activities include presenting top-name entertainment, hosting non-profit fundraising events, and offering rental facilities for various community events. Additionally, the Palace Theatre Trust has a strong focus on youth, with youth performing arts programs being an integral part of its initiatives. Over 19,000 children participate in theatrical productions through vacation camps, specialized acting companies, and vocal, dancing, or acting classes. Furthermore, more than 900 youth from grades 2-12 have the opportunity to perform in a Palace production.
Official website here: www.palacetheatre.org
Who is the CEO of Palace Theatre Trust?
Peter Ramsey is the Ceo of Palace Theatre Trust. The CEO's salary of Palace Theatre Trust is $188,674 and their total compensation is $248,287.
Official website here: www.palacetheatre.org
What is the revenue of Palace Theatre Trust?
Palace Theatre Trust's revenue in 2022 was $8,795,217.
Official website here: www.palacetheatre.org
Who are the executives of Palace Theatre Trust and what are their salaries?
The average compensation at Palace Theatre Trust during 2022 was $23,133. There are 84 employees and 120 volunteers at Palace Theatre Trust.
Here are 25 key members and their salaries (Palace Theatre Trust's CEO's salary is $188,674 and their total compensation is $248,287):
- Compensation: $188,674
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Official website here: www.palacetheatre.org
Where can I find the form 990 for Palace Theatre Trust?
Palace Theatre Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.palacetheatre.org
Learn more at the official website: www.palacetheatre.org
Mission Statement of Palace Theatre Trust
The Palace Theatre Trust, a renowned nonprofit organization, is dedicated to enriching the cultural landscape of its community by serving as a valuable resource. This is achieved through the meticulous stewardship of the historic Palace Theatre. The Palace Theatre Trust accomplishes this mission by offering a diverse array of high-quality live performances for patrons, artists, children, and people of all ages. This encompasses in-house produced live professional musical theatre, top-notch presenting entertainment, non-profit fundraising events, and community rentals for various events.
In addition to live performances, the Palace Theatre Trust provides educational opportunities for both performers and audiences. These educational opportunities cater to individuals of all ages, fostering a sense of engagement and learning within the community. The organization's commitment to education is evident in its youth performing arts programs, which have seen over 19,000 children participate in theatrical productions through vacation camps, specialized acting companies, and vocal, dancing, or acting classes.
By offering a wide range of live performances and educational opportunities, the Palace Theatre Trust plays a significant role in enriching the cultural life of its community. It serves as a beacon of creativity and inspiration, providing a platform for both established and emerging artists while nurturing the next generation of performers.
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Impact
October, 2024
Palace Theatre Trust significantly enhances the cultural landscape of the region, acting as a vital community resource through its stewardship of the historic Palace Theatre. By offering a diverse array of high-quality live performances, it draws approximately 120,000 patrons annually, presenting over 252 events that span professional musical theatre, well-known entertainment acts, and community-driven initiatives.
A key aspect of its impact lies in its commitment to youth engagement in the arts. More than 19,000 children have participated in various youth performing arts programs, including vacation camps and specialized acting companies. Additionally, over 900 students from grades 2-12 have taken part in Palace productions, providing invaluable opportunities for personal growth, skill development, and creative expression.
Through its performances and educational initiatives, Palace Theatre Trust not only enriches the cultural life of the Manchester community but also cultivates a new generation of performers and audiences, fostering a lasting appreciation for the arts.
This information is meant to be a general summary of Palace Theatre Trust. 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.
- Investment Income: $270,210
- Program Service Revenue: $3,737,676
- Gross Receipts: $9,860,422
Assets and Liabilities:
- Total Assets: $15,190,873
- Total Liabilities: $3,214,661
- Net Assets: $11,976,212
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SHOW REVENUE
Revenue
$2,916,188
HISTORIC FEE
Revenue
$351,289
YOUTH THEATRE FEES
Revenue
$314,102
ADVERTISING INCOME
Revenue
$78,192
RENTS
Revenue
$77,905
Organization Details
Founding Year
1974
Phone
(603) 668-5588Principal Officer
Peter Ramsey
Main Address
80 HANOVER STREET, MANCHESTER, NH, 03101
Website
www.palacetheatre.orgNTEE Category
Code: A610 - Arts
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