Palaver Strings Incorporated
- Assets
- $165.1k
- Revenue
- $627.9k
- Investments
- $0.0
- Employees
- 15
- Location
- Portland, ME
- Founding
- 11/2015
- Data as of
- 06/2023
- EIN
- 47-4914834
Organization Overview
Palaver Strings Incorporated is located in Portland, ME. The organization was established in 2015. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Palaver Strings Incorporated employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palaver Strings Incorporated 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, Palaver Strings Incorporated generated $627.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.2% each year . All expenses for the organization totaled $598.5k during the year ending 06/2023. While expenses have increased by 33.3% 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
PALAVER STRINGS STRENGTHENS AND INSPIRED COMMUNITY THROUGH MUSIC. PALAVER MUSIC CENTER SEEKS TO GENERATE A LOVE OF MUSIC, FOSTER CREATIVITY, AND HOLD SPACE FOR SHARED DIALOGUE WITH PEOPLE FROM DIVERSE CULTURAL AND SOCIOECONOMIC BACKGROUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PALAVER STRINGS IS A MUSICIAN-LED STRING ENSEMBLE AND NONPROFIT ORGANIZATION BASED IN PORTLAND, ME. PALAVER HAS ESTABLISHED ITSELF AS A FORWARD-THINKING ENSEMBLE WHOSE MISSION IS TO STRENGTHEN AND INSPIRE COMMUNITY THROUGH MUSIC. IN OUR MUSICIAN-LED MODEL, PALAVER'S MUSICIANS PRESENT OVER 40 PERFORMANCES A YEAR, SHARE ARTISTIC AND ADMINISTRATIVE LEADERSHIP, GUIDED BY A PASSION FOR ENGAGING NEW AUDIENCES, ADDRESSING SOCIAL JUSTICE ISSUES, AND AMPLIFYING UNDERREPRESENTED VOICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ari Solotoff President | OfficerTrustee | 2 | $0 |
Blanca Santiago Secretary | Trustee | 2 | $0 |
Carolyn Benthien Director | Trustee | 2 | $0 |
Dana Swenson Director | Trustee | 2 | $0 |
David Lakari Director | Trustee | 2 | $0 |
Ekhlas Ahmed Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,752 |
| Related organizations | $0 |
| Government grants | $22,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $470,010 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $519,262 |
| Total Program Service Revenue | $106,370 |
| Investment income | $227 |
| 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 | $2,017 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $627,876 |
| 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 | $294,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $21,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,330 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $24,739 |
| Office expenses | $7,840 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,878 |
| Travel | $37,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,988 |
| Insurance | $6,576 |
| All other expenses | $0 |
| Total functional expenses | $598,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,156 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $767 |
| Prepaid expenses and deferred charges | $6,050 |
| Net Land, buildings, and equipment | $18,670 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $99,421 |
| Total assets | $165,064 |
| Accounts payable and accrued expenses | $62 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $65,079 |
| Total liabilities | $65,141 |
| Net assets without donor restrictions | $44,923 |
| Net assets with donor restrictions | $55,000 |
| 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 | $165,064 |