PALETTE MASQUE AND LYRE

EIN: 363487153 501(c)(3) Arts, Culture & Humanities

Antioch, IL

Total Revenue
$329,616
Total Expenses
$289,980
Total Assets
$580,880
Net Assets
$481,715
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
IL
Principal Officer
Regina Reynolds
Phone
8473953433
Tax Period
2024-09-01 to 2025-08-31

PALETTE MASQUE AND LYRE, founded in 1963, is a small nonprofit in the Arts, Culture & Humanities sector that reported $330K in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. Expenses of $290K left a modest 12% surplus.

Mission

The purposes for which the corporation is organized are: to promote the fine arts by producing plays, art exhibits, music concerts, musical comedies and instructing the same. PM&L, Inc. does not discriminate against any prospective member or participant because of his or her race, color, religion, sex, national origin, ancestry, age, order of protection status, marital status, physical or mental disability, military status, sexual orientation, pregnancy, or unfavorable discharge from military service.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $39,222
Program Service Revenue $290,177
Investment Income $217
Other Revenue $0
TOTAL REVENUE $329,616

Expense Breakdown

Grants Paid $0
Salaries & Benefits $69,193
Fundraising Expenses $0
Program Expenses $181,772
Other Expenses $220,787
TOTAL EXPENSES $289,980

Year-over-Year Comparison

2024 2023 Change
Revenue $329,616 $232,655 +0.4%
Expenses $289,980 $300,681 0.0%
Net Income $39,636 $-68,026 -1.6%
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

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Governance

Voting Members
8
Independent Members
N/A
Employees
19
Volunteers
250

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
3
$2,977
Total Directors
4
$1,500
Key Employees
1
$45,010
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Adam Armstrong Managing Director 40
Key Emp
$45,010 $0 $45,010
Isaac Armstrong Treasurer 10
Officer
$1,867 $0 $1,867
Betsy Grindol Vice President 15
Officer
$1,110 $0 $1,110
Christi Nicholson Member At Large 10
Director
$1,000 $0 $1,000
Michelle Self Recording Secretary 10
Director
$500 $0 $500
Jane Hausman Member At Large 10
Director
$0 $0 $0
Jennifer Biel Franco Corresponding Secretary 10
Director
$0 $0 $0
Regina Reynolds President 20
Officer
$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 $329,616 $289,980 $580,880 $39,636
2024 $232,655 $300,681 $580,290 $-68,026
2023 $211,533 $192,017 $644,781 $19,516
2022 $133,187 $117,947 $633,743 $15,240
2021 $76,466 $54,916 $595,586 $21,550
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