Palace Cultural Arts Association
- Assets
- $7.2m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 17
- Location
- Marion, OH
- Founding
- 06/1975
- Data as of
- 06/2021
- EIN
- 23-7456843
Organization Overview
Palace Cultural Arts Association is located in Marion, OH. The organization was established in 1975. 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 Cultural Arts Association employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palace Cultural Arts Association 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 06/2021, Palace Cultural Arts Association generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $655.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LIVE THEATRICAL AND MUSICAL PRODUCTIONS FOR THE PUBLIC AND TO EXPOSE SCHOOL STUDENTS TO THE PERFORMING ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LIVE THEATRICAL AND MUSICAL PRODUCTIONS FOR THE PUBLICE AND TO EXPOSE SCHOOL STUDENTS TO THE PERFORMING ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Detweiler Executive Dir. | Trustee | 40 | $47,394 |
Jodi Cooper Business Manage | Trustee | 40 | $47,335 |
Bev Ford Director | Trustee | 40 | $38,231 |
Ryan Campbell Secretary | Trustee | 0 | $0 |
Andrew Ellerkamp Chairman | Officer | 0 | $0 |
Sue Jacob Past Chair | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,168,168 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,377 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,288,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $116,513 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,037 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,875 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,976 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $296 |
| Office expenses | $7,894 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,734 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,644 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $270,671 |
| Insurance | $48,789 |
| All other expenses | $0 |
| Total functional expenses | $655,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $733,831 |
| Savings and temporary cash investments | $500 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $574,050 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,381 |
| Other assets | $229,801 |
| Total assets | $7,154,166 |
| Accounts payable and accrued expenses | $11,819 |
| Grants payable | $0 |
| Deferred revenue | $185,030 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $205,942 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $402,791 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $6,751,375 |