Palace Theatre Trust

Organization Overview

Palace Theatre Trust is located in Manchester, NH. The organization was established in 1999. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Palace Theatre Trust employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palace Theatre Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Palace Theatre Trust generated $8.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $6.0m during the year ending 06/2022. While expenses have increased by 5.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

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 VACATIO 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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Board, Officers & Key Employees

Name (title)Compensation
Peter Ramsey
CEO
$188,674
J Michael Perrella
Chair
$0
Atty David Eby
Vice Chair
$0
Mark Laprade
Treasurer
$0
Doug Blais
Secretary
$0
Robert Baines
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $19,015
All other contributions, gifts, grants, and similar amounts not included above$4,442,284
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,461,299
Total Program Service Revenue$3,737,676
Investment income $105,969
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $164,241
Net Income from Fundraising Events $35,375
Net Income from Gaming Activities $101,111
Net Income from Sales of Inventory $189,546
Miscellaneous Revenue$0
Total Revenue $8,795,217

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