Palm Arts
- Assets
- $977.3k
- Revenue
- $356.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Telluride, CO
- Founding
- 12/2010
- Data as of
- 06/2023
- EIN
- 27-0962251
Organization Overview
Palm Arts is located in Telluride, CO. The organization was established in 2010. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Palm Arts employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Arts 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 06/2023, Palm Arts generated $356.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $367.3k during the year ending 06/2023. While expenses have increased by 15.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PALM ARTS ENRICHES AND EXPANDS THE EDUCATIONAL, PERFORMING ARTS, AND CULTURAL OPPORTUNITIES OF THE TELLURIDE COMMUNITY THROUGH INNOVATIVE PROGRAMMING AND DANCE INSTRUCTION AND AS A CREATIVE CROSSROADS FOR OUR AREA PARTNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PALM ARTS DANCE PROGRAM, NOW IN ITS THIRTEENTH YEAR, SERVES OVER 120 LOCAL DANCE FAMILIES WITH AFTER-SCHOOL AND SUMMER DANCE INSTRUCTION AS WELL AS PROVIDING PERFORMANCE OPPORTUNITIES FOR CHILDREN AND ADULTS.
PALM ARTS THEATRE PROGRAMMING IS COMMITTED TO BRINGING NATIONAL AND INTERNATIONAL TOURING COMPANIES TO THE MICHAEL D. PALM THEATRE AND BOB SAUNDERS THEATRE FOR PUBLIC PERFORMANCES AND STUDENT OUTREACHES AS PANDEMIC PROTOCOLS ALLOW. ADDITIONALLY, PALM ARTS WAS ABLE TO SAFELY OPERATE THE AFTER-SCHOOL DANCE PROGRAM, ADHERING TO ALL COVID SAFETY GUIDELINES AND PROVIDE A LARGE AND WELL-VENTILATED VENUE FOR LOCAL NON-PROFIT USE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Jepson Director Of | Officer | 1 | $3,698 |
Jonathan Abram President | OfficerTrustee | 1 | $0 |
Claire Beard Director | Trustee | 1 | $0 |
Jenny Carlson Director | Trustee | 1 | $0 |
Judith Gluckstern Director | Trustee | 1 | $0 |
Stephanie Hatcher Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,862 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,362 |
| Total Program Service Revenue | $213,302 |
| Investment income | $16,128 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $23,251 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $356,043 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $267,039 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,331 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,611 |
| Advertising and promotion | $1,723 |
| Office expenses | $1,193 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $652 |
| Conferences, conventions, and meetings | $582 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,226 |
| Insurance | $3,783 |
| All other expenses | $8,665 |
| Total functional expenses | $367,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $176,812 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,246 |
| 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 | $1,153 |
| Net Land, buildings, and equipment | $154,151 |
| Investments—publicly traded securities | $642,909 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $977,271 |
| Accounts payable and accrued expenses | $4,868 |
| Grants payable | $0 |
| Deferred revenue | $34,556 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $39,424 |
| Net assets without donor restrictions | $664,847 |
| Net assets with donor restrictions | $273,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $977,271 |