PALACE THEATRE TRUST

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

PETER RAMSEY

Phone

6036685588

Tax Period

2023-07-01 to 2024-06-30

PALACE THEATRE TRUST, founded in 1974, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.9M in total revenue in fiscal year 2023.

Mission

TO ENRICH THE REGION'S CULTURAL LIFE AND SERVE AS A COMMUNITY RESOURCE THROUGH ITS STEWARDSHIP OF THE HISTORIC PALACE THEATRE. IT DOES SO BY PROVIDING A BROAD RANGE OF LIVE, HIGH QUALITY, PROFESSIONAL AND COMMUNITY PERFORMANCES, AS WELL AS EDUCATIONAL OPPORTUNITIES FOR PERFORMERS AND AUDIENCES OF ALL AGES.

Program Service Accomplishments

Program 1

Expenses: $4,801,156 Revenue: $5,055,952

ENRICHING THE REGION'S CULTURAL LIFE AND OFFERING A DIVERSE SELECTION OF EXTREMELY HIGH QUALITY LIVE PERFORMANCES AND EDUCATIONAL OPPORTUNITIES FOR PATRONS, ARTISTS, CHILDREN AND PEOPLE OF ALL AGES DEFINES THE PALACE THEATRE. FROM IN-HOUSE PRODUCED LIVE PROFESSIONAL MUSICAL THEATRE, TOP NAME PRESENTING ENTERTAINMENT, OTHER NON-PROFIT FUNDRAISING EVENTS AND RENTALS FOR MANY COMMUNITY EVENTS ARE ALL PART OF WHAT DEFINES THE PALACE THEATRE. APPROXIMATELY 120,000 PATRONS ATTENDED WITH OVER 252 PERFORMANCES AND EVENTS. YOUTH PERFORMING ARTS PROGRAMS ARE AN INTEGRAL PART OF THE PALACE THEATRE/FOREVER EMMA STUDIOS YOUTH INITIATIVES WITH OVER 19,000 CHILDREN EXPERIENCING THEATRICAL PRODUCTIONS THROUGH PARTICIPATION IN VACATION CAMPS, SPECIALIZED ACTING COMPANIES AND VOCAL, DANCING OR ACTING CLASSES. ADDITIONALLY, MORE THAN 900 YOUTH, GRADES 2-12 PERFORMED IN A PALACE PRODUCTION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,018,274

Program Service Revenue $5,055,952

Investment Income $233,294

Other Revenue $577,798

TOTAL REVENUE $6,885,318

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,802,986

Fundraising Expenses $384,183

Program Expenses $4,801,156

Other Expenses $4,269,190

TOTAL EXPENSES $7,072,176

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,885,318	$6,859,427	+0.0%
Expenses	$7,072,176	$6,470,757	+0.1%
Net Income	$-186,858	$388,670	-1.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

120

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

$266,225

Total Directors