47 Palmer Inc

EIN: 043255365 501(c)(3) Arts, Culture & Humanities

Cambridge, MA

Total Revenue
$2,307,387
Total Expenses
$2,403,266
Total Assets
$514,090
Net Assets
$331,024
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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
MA
Principal Officer
Michael Busack
Phone
6174925300
Tax Period
2024-07-01 to 2025-06-30

47 Palmer Inc, founded in 1994, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.3M in total revenue in fiscal year 2024.

Mission

See Page 1, Part I

Program Service Accomplishments

Program 1
Expenses: $1,638,991 Revenue: $1,367,939

Club Passim - See Schedule OClub PassimClub Passim put on 366 concerts during fiscal year 2025, conducted in the club and via livestream. In a typical year, in addition to our regular concerts, we...

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Club Passim - See Schedule OClub PassimClub Passim put on 366 concerts during fiscal year 2025, conducted in the club and via livestream. In a typical year, in addition to our regular concerts, we hold a variety of special concerts, including our annual Celtic Music Festival. We help develop emerging artists by offering them the opportunity to perform to smaller audiences and opening for better-known musicians. A major vehicle for this is through our weekly open-mic, which we reinstituted in June 2014. At open mic, any musician is welcome to play several songs on our stage. We also typically hold 2 weekend-music festivals ("Campfire Festivals") on the Memorial Day and Labor Day weekends that provide an opportunity for lesser-known artists to play. Our audience typically ranges in age from 25-65 and comes mainly from metropolitan Boston.

Program 2
Expenses: $143,444 Revenue: $110,266

Education - See Schedule OEducationEducation - Passim School of MusicFrom July 1, 2024 through June 30, 2025, the Passim School of Music served 746 students through 144 classes, voice lessons, and...

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Education - See Schedule OEducationEducation - Passim School of MusicFrom July 1, 2024 through June 30, 2025, the Passim School of Music served 746 students through 144 classes, voice lessons, and workshops. The intimate, inclusive environment is specially designed to foster a sense of community across students and instructors. Master classes and workshops give students an opportunity to work closely with their favorite artists and to learn specific techniques from the masters. The School is for adults and does not award degrees or certificates.Education - Iguana Music FundThe Fund, originated in 2009, gives grants to New England-based artists to help develop their careers or assist their community-service efforts. In general, between 250-300 musicians apply and between 20 and 30 receive grants. Passim holds an annual spring celebration of these artists at its Club, where grant recipients perform. Those unable to be present usually send videos that are played to the audience. Artists are generally in their 20s or 30s and while many come from or have roots in the Boston area, they all have a strong New England connection. Two grantees were Grammy nominees in prior years.

Program 3
Expenses: $59,387 Revenue: $21,427

Outreach - See Schedule OOutreachPassim presents artists in the community as part of its Outreach Program. Each summer we present a series of free outdoor weekly concerts in Harvard Square and...

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Outreach - See Schedule OOutreachPassim presents artists in the community as part of its Outreach Program. Each summer we present a series of free outdoor weekly concerts in Harvard Square and Kendall Square. In addition, we have stages at the Harvard Square Business Association's Mayfair and Oktoberfest festivals.We also hold or cohost 5 different festivals during the year. These include campfire (TM)(previously mentioned), the Passim Bluegrass Festival, Harvard Square Folk Festival, New England Americana Festival, and BCMFest (Boston's Celtic Music Festival). The latter is the premier presenter of Boston-based Irish, Scottish & Cape Breton music. The festival encourages collaboration across the Celtic spectrum, along with encouraging both traditional and new interpretations of the music. All of these events serve the general public at large.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $803,168
Program Service Revenue $1,499,632
Investment Income $4,587
Other Revenue $0
TOTAL REVENUE $2,307,387

Expense Breakdown

Grants Paid $61,500
Salaries & Benefits $901,964
Fundraising Expenses $160,422
Program Expenses $1,841,822
Other Expenses $1,439,802
TOTAL EXPENSES $2,403,266

Year-over-Year Comparison

2024 2023 Change
Revenue $2,307,387 $2,149,434 +0.1%
Expenses $2,403,266 $2,234,339 +0.1%
Net Income $-95,879 $-84,905 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
56
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
James Patrick Kelly Director & Treasurer 5.00
Officer Director
$0 $0 $0
Alice Bruce Director 2.00
Director
$0 $0 $0
Jaime D'Almeida Director & Clerk 2.00
Officer Director
$0 $0 $0
Chuck Honnet Director & VP 2.00
Officer Director
$0 $0 $0
Kemp Harris Director 2.00
Director
$0 $0 $0
Caroline McCormick Director 2.00
Director
$0 $0 $0
Mark Gillard Director 2.00
Director
$0 $0 $0
Kristina Latino Director 2.00
Director
$0 $0 $0
Brian Berube Director 2.00
Director
$0 $0 $0
Laurie Russell Director 2.00
Director
$0 $0 $0
Melissa Ferrick Director 2.00
Director
$0 $0 $0
Patty Katsaros Director 2.00
Director
$0 $0 $0
Annie Bartlett Director & Chair 5.00
Officer Director
$0 $0 $0
Rosi Amador Director 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $2,307,387 $2,403,266 $514,090 $-95,879
2024 $2,149,434 $2,234,339 $584,832 $-84,905
2023 $1,750,261 $1,833,883 $652,259 $-83,622
2022 $1,617,574 $1,508,704 $700,773 $108,870
2021 $1,044,646 $907,753 $735,824 $136,893
2020 $1,829,573 $1,721,512 $578,011 $108,061
2019 $1,725,447 $1,745,892 $386,742 $-20,445
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