Georgetown Palace Theatre Inc
- Assets
- $7.4m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 54
- Location
- Georgetown, TX
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 74-2589396
Organization Overview
Georgetown Palace Theatre Inc is located in Georgetown, TX. The organization was established in 1992. 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 12/2021, Georgetown Palace Theatre Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgetown Palace Theatre Inc 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 12/2021, Georgetown Palace Theatre Inc generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 1.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE IN GEORGETOWN AND WILLIAMSON COUNTY BY PROVIDING A VENUE FOR QUALITY ENTERTAINMENT AND EDUCATIONAL OPPORTUNITIES IN THE PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCE SEVERAL PLAYS TO BE ATTENDED BY PEOPLE DURING THE PRODUCTION SEASON.
PRODUCTION OF EDUCATIONAL WORKSHOPS TO BE ATTENDED BY PEOPLE IN THE COMMUNITY
OPERATION OF GUILD ACTIVITIES - GUILD MEMBERS SUPPORT THE PALACE THEATRE BY HOSTING FIRSTNIGHTER PARTIES, CONDUCTING FUNDRAISING ACTIVITIES, AND PARTICIPATING IN LOCAL COMMUNITY ACTIVITIES SUCH AS PARADES AND BOOTHS AT COMMUNITY EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Watson Executive Director | Officer | 40 | $61,809 |
Russ Jernigan Secretary | OfficerTrustee | 15 | $0 |
Gary Brown Treasurer | OfficerTrustee | 2 | $0 |
Michael Davis Past President | OfficerTrustee | 25 | $0 |
Ed Harmes 2nd Vice President | OfficerTrustee | 30 | $0 |
Art Rodriguez President | OfficerTrustee | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $751,352 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,618,162 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,369,514 |
| Total Program Service Revenue | $1,227,225 |
| Investment income | $639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $37,493 |
| 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 | $5,634,871 |
| 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. | $61,809 |
| Compensation of current officers, directors, key employees. | $4,327 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $356,940 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,868 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $205,640 |
| Advertising and promotion | $19,942 |
| Office expenses | $6,795 |
| Information technology | $2,817 |
| Royalties | $0 |
| Occupancy | $130,753 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50 |
| Interest | $268,497 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $35,285 |
| All other expenses | $373,168 |
| Total functional expenses | $1,534,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,414,717 |
| Savings and temporary cash investments | $547,258 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $4,800 |
| Net Land, buildings, and equipment | $5,364,996 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $111,820 |
| Total assets | $7,443,591 |
| Accounts payable and accrued expenses | $2,303 |
| 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 | -$1,231,500 |
| Unsecured mortgages and notes payable | $205,497 |
| Other liabilities | $351,896 |
| Total liabilities | -$671,804 |
| Net assets without donor restrictions | $6,452,611 |
| Net assets with donor restrictions | $1,662,784 |
| 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 | $7,443,591 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Georgetown Palace Theatre Inc has recieved totaling $13,975.
| Awarding Organization | Amount |
|---|---|
Chisholm Trail Communities Foundation Georgetown, TX PURPOSE: GENERAL OPERATING SUPPORT | $12,250 |
Grant Family Fund Galveston, TX PURPOSE: REGIONAL THEATER | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $427 |
The Neill Foundation Austin, TX PURPOSE: DONATION | $298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Performing Arts Fort Worth Inc Fort Worth, TX | $130,618,856 | $15,938,262 |
Dallas Summer Musicals Inc Dtd 121862 Dallas, TX | $10,391,803 | $15,176,693 |
Greater Austin Performing Arts Center Austin, TX | $60,832,333 | $4,600,967 |
Oklahoma Contemporary Arts Center Inc Oklahoma City, OK | $30,073,274 | $4,620,457 |
Stages Houston, TX | $35,203,862 | $5,949,704 |
Lubbock Entertainment And Performing Arts Association Lubbock, TX | $190,146,565 | $3,966,271 |
Tulsa Performing Arts Center Trust Tulsa, OK | $9,008,592 | $6,495,113 |
Contemporary Arts Center New Orleans, LA | $8,950,916 | $2,836,743 |
Preservation Hall Foundation Inc New Orleans, LA | $2,657,700 | $2,671,447 |
El Dorado Festivals & Events Inc El Dorado, AR | $56,070,172 | $5,007,919 |
Georgetown Palace Theatre Inc Georgetown, TX | $7,443,591 | $5,634,871 |
Sammons Center For The Arts Dallas, TX | $1,480,385 | $820,044 |