Friends Of The Palace Theater
- Assets
- $1.2m
- Revenue
- $596.1k
- Investments
- $0.0
- Employees
- 18
- Location
- Hilo, HI
- Founding
- 02/2002
- Data as of
- 12/2021
- EIN
- 99-0352607
Organization Overview
Friends Of The Palace Theater is located in Hilo, HI. The organization was established in 2002. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Friends Of The Palace Theater employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Palace Theater 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, Friends Of The Palace Theater generated $596.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $401.7k during the year ending 12/2021. 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 CULTURAL AND EDUCATIONAL EVENTS AND RESTORE A HISTORIC BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CULTURAL EVENTS (FILMS, PLAYS, HULA PERFORMANCES, CONCERTS) FOR THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillips Payson Executive Di | Officer | 32 | $44,968 |
Wendy Peskin President | OfficerTrustee | 7.5 | $0 |
Larry Reitzer Vice Preside | OfficerTrustee | 0.5 | $0 |
Susan Starkey Hendricks Treasurer | OfficerTrustee | 2.5 | $0 |
Beth Block Secretary | OfficerTrustee | 2.5 | $0 |
Deborah Kimball PHD Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $330,552 |
| All other contributions, gifts, grants, and similar amounts not included above | $149,541 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $480,093 |
| Total Program Service Revenue | $115,912 |
| Investment income | $69 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $596,074 |
| 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. | $50,319 |
| Compensation of current officers, directors, key employees. | $7,548 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,195 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,788 |
| Payroll taxes | $13,378 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,389 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,539 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,893 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,630 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,088 |
| Insurance | $10,410 |
| All other expenses | $3,186 |
| Total functional expenses | $401,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,342 |
| Savings and temporary cash investments | $192,227 |
| 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 | $0 |
| Net Land, buildings, and equipment | $889,818 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,232,387 |
| Accounts payable and accrued expenses | $112,505 |
| Grants payable | $0 |
| Deferred revenue | $24,683 |
| 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 | $132,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $269,188 |
| Net assets without donor restrictions | $929,473 |
| Net assets with donor restrictions | $33,726 |
| 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 | $1,232,387 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Friends Of The Palace Theater has recieved totaling $49,620.
| Awarding Organization | Amount |
|---|---|
Historic Hawaii Foundation Honolulu, HI PURPOSE: REHABILITATION OF HISTORIC THEATER | $39,000 |
Atherton Family Foundation Honolulu, HI PURPOSE: PROTECTING THE HILO PALACE THEATER | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $620 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Los Angeles County Museum Of Natural History Foundation Los Angeles, CA | $310,771,263 | $64,336,067 |
Academy Museum Foundation Beverly Hills, CA | $718,283,273 | $74,112,519 |
Fine Arts Museums Foundation San Francisco, CA | $293,998,421 | $1,528,655 |
California Center For The Arts Escondido Foundation Escondido, CA | $1,637,426 | $6,432,180 |
Screen Actors Guild - American Federation Of Television And Radio Los Angeles, CA | $32,891,873 | $7,217,007 |
Carmel Mission Foundation Inc Carmel, CA | $1,231,681 | $982,770 |
Ford Theatre Foundation Hollywood, CA | $2,293,812 | $4,065,513 |
Mccallum Theatre Foundation Inc Palm Desert, CA | $10,233,971 | $253,349 |
California State Railroad Museum Foundation Inc Sacramento, CA | $11,474,601 | $3,874,416 |
The California Museum Of History Women And The Arts Sacramento, CA | $9,367,922 | $1,679,886 |
Crocker Art Museum Foundation Sacramento, CA | $46,079,263 | $5,867,542 |
California Ballet Association Inc San Diego, CA | $60,782 | $1,506,090 |