Civic Intelligence

The Palace Performing Arts Center Inc

990 • Fiscal year 2019 • EIN 14-1708151

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 20, 2019

Organization ProfileWWW.PALACEALBANY.COM
19 Clinton AvenueAlbany, NY 12207

(518) 465-3334

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

0.70x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • NTEE A • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

83rd percentile

0.44x

Higher debt load relative to revenue than 83% of similar nonprofits.

2019 filings • NTEE A • $5M-$10M nonprofits • Source year 2019

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

2019 filings • NTEE A • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

85th percentile

$222,003

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2019 filings • NTEE A • $5M-$10M nonprofits • Source year 2019

Asset Growth

3rd percentile

-20%

Faster asset growth than 3% of similar nonprofits.

2019 filings • NTEE A • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

44th percentile

-0.4%

Faster revenue growth than 44% of similar nonprofits.

2019 filings • NTEE A • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$4,036,097

Down $1,000,961 (-20%) from 2018

Net Assets

Down

$1,198,262

Down $993,701 (-45%) from 2018

Liabilities

Down

$2,837,835

Down $7,260 (-0.3%) from 2018

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin19th percentile

Revenue

Down

$6,455,762

Down $24,676 (-0.4%) from 2018

Expenses

Up

$7,449,463

Up $1,888,104 (+34%) from 2018

Net Income

Down

-$993,701

Down $1,912,780 (-208%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $895,895Liabilities 2011: $389,869Net Assets 2011: $506,0262011Assets 2012: $1,312,704Liabilities 2012: $789,581Net Assets 2012: $523,1232012Assets 2013: $1,270,094Liabilities 2013: $693,734Net Assets 2013: $576,3602013Assets 2014: $2,120,208Liabilities 2014: $1,437,647Net Assets 2014: $682,5612014Assets 2015: $2,880,569Liabilities 2015: $1,848,738Net Assets 2015: $1,031,8312015Assets 2016: $2,689,234Liabilities 2016: $1,636,318Net Assets 2016: $1,052,9162016Assets 2017: $2,690,877Liabilities 2017: $1,417,993Net Assets 2017: $1,272,8842017Assets 2018: $5,037,058Liabilities 2018: $2,845,095Net Assets 2018: $2,191,9632018Assets 2019: $4,036,097Liabilities 2019: $2,837,835Net Assets 2019: $1,198,2622019Assets 2020: $3,613,053Liabilities 2020: $2,629,673Net Assets 2020: $983,3802020Assets 2021: $5,400,849Liabilities 2021: $2,407,977Net Assets 2021: $2,992,8722021Assets 2022: $7,859,988Liabilities 2022: $2,987,420Net Assets 2022: $4,872,5682022Assets 2023: $7,460,484Liabilities 2023: $2,441,587Net Assets 2023: $5,018,8972023Assets 2025: $7,845,212Liabilities 2025: $2,096,456Net Assets 2025: $5,748,7562025

Highlighted filing

2019

Assets$4,036,097
Liabilities$2,837,835
Net Assets$1,198,262
Open 2019 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $944,712Expenses 2011: $1,175,177Net Income 2011: -$230,4652011Expenses 2012: $1,234,3812012Expenses 2013: $2,418,8822013Revenue 2014: $2,933,580Expenses 2014: $2,827,379Net Income 2014: $106,2012014Revenue 2015: $4,424,478Expenses 2015: $4,075,208Net Income 2015: $349,2702015Revenue 2016: $4,015,903Expenses 2016: $3,994,818Net Income 2016: $21,0852016Revenue 2017: $5,381,781Expenses 2017: $5,161,813Net Income 2017: $219,9682017Revenue 2018: $6,480,438Expenses 2018: $5,561,359Net Income 2018: $919,0792018Revenue 2019: $6,455,762Expenses 2019: $7,449,463Net Income 2019: -$993,7012019Revenue 2020: $3,467,210Expenses 2020: $3,682,092Net Income 2020: -$214,8822020Revenue 2021: $3,087,630Expenses 2021: $1,078,138Net Income 2021: $2,009,4922021Revenue 2022: $5,301,344Expenses 2022: $3,421,648Net Income 2022: $1,879,6962022Revenue 2023: $4,216,101Expenses 2023: $4,067,894Net Income 2023: $148,2072023Revenue 2025: $4,944,005Expenses 2025: $4,589,133Net Income 2025: $354,8722025

Highlighted filing

2019

Revenue$6,455,762
Expenses$7,449,463
Net Income-$993,701
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 20, 2019
Return Version
2018v3.2
Gross Receipts
$6,455,762
Mission and Program Overview

Mission

To operate the palace theater and utilize its full potential as a cultural and entertainment center in albany, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,181,220$2,160,865▼ $20,355
Cash and Non-Interest-Bearing Accounts$177,731$1,039,236▲ $861,505
Investments in Publicly Traded Securities$1,011,427$273,589▼ $737,838
Savings and Temporary Cash Investments$1,279,311$218,062▼ $1,061,249
Accounts Receivable$219,218$157,054▼ $62,164
Prepaid Expenses and Deferred Charges$100,232$121,860▲ $21,628
Intangible Assets$44,111$32,840▼ $11,271
Inventories for Sale or Use$23,808$32,591▲ $8,783
Total Assets$5,037,058$4,036,097▼ $1,000,961
Liabilities
Accounts Payable and Accrued Expenses$1,528,812$1,500,377▼ $28,435
Mortgage Notes Payable Secured by Investment Property$1,146,994$1,118,831▼ $28,163
Deferred Revenue$169,289$218,627▲ $49,338
Total Liabilities$2,845,095$2,837,835▼ $7,260
Net Assets / Fund Balance
Unrestricted Net Assets$1,187,575$1,198,262▲ $10,687
Temporarily Rstr Net Assets$1,004,388--
Total Net Assets Fund Balance$2,191,963$1,198,262▼ $993,701
Total Liabilities and Net Assets / Fund Balance$5,037,058$4,036,097▼ $1,000,961

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$807,647$33,287$840,934
Land$657,206-$657,206
Leasehold Improvements$313,574$155,409$468,983
Equipment$102,195$298,507$400,702
Other Land Buildings$280,243$2,542$282,785
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Susan FogartyExecutive DiFT$222,003$222,003
Susan FogartyExecutive Director-$222,003$222,003

Board Members and Trustees

NameTitle
Stephen BaboulisBoard Chairm
Alan GoldbergChairman Eme
John Bennett MdVice Chairma
Dominick PurnomoBoard Member
George R Hearst IiiBoard Member
KEVIN O'CONNORBoard Member
Kathy M SheehanBoard Member
Marilyn PendergastBoard Member
Mark EaganBoard Member
Philip CalderoneBoard Member
Randolph F TreeceBoard Member
THOMAS D'AMBRABoard Member
Walter BorisenokBoard Member
Michele L VennardSecretary
Jeffrey StoneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$242,644
Program Service Revenue
$6,200,064
Investment Income
$12,767
Other Revenue
$287
All Other Contributions
$240,394
Change in Net Assets
$-993,701

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,279,580
Revenue Not Reported on Financial Statements
$176,182
Other Revenue Adjustments
$176,182
Total Revenue per Audited Statements
$6,279,580
Total Revenue per Form 990
$6,455,762
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,724,655
Salaries, Compensation, and Employee Benefits$1,724,808
Total Fundraising Expense$295,158
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$719,698$301,213$164,719$1,185,630
All Other Expenses$541,409$91,715$92,515$725,639
Other Expenses$421,812$1,021,663-$421,812
Current Officers, Directors, Trustees, and Key Employees$166,502$55,501-$222,003
Other Employee Benefits$126,608$53,259$23,533$203,400
Insurance$47,015$140,405-$187,420
Payroll Taxes$73,075$27,117$13,583$113,775
Depreciation Depletion$79,994--$79,994
Interest-$28,858-$28,858
Advertising$22,566$3,751$375$26,692
Fees for Services Other-$22,659-$22,659
Fees for Services Accounting-$15,375-$15,375
Conferences and Meetings$8,793$4,521$433$13,747
Fees for Services Legal-$2,078-$2,078
Travel-$174-$174
Total Functional Expenses$5,386,016$1,768,289$295,158$7,449,463

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,449,463
Expenses per Audited Statements$7,273,281
Total Expenses per Audited Statements$7,273,281
Expenses Not Reported on Financial Statements$176,182
Other Expense Adjustments$176,182
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 is presented to the board of directors for their review and approval prior to filing the return.”

Form 990, Page 6, Part VI, Line 12C

“Board members are required to fill out annual questionnaires to monitor and enforce compliance with the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 15A

“The palace's hiring process for the current executive director was conducted by the executive committee with a phone vote held for the full board. The appropriate level of compensation was determined by two board members with approval by the full board.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
The Palace Performing Arts
EIN
14-1708151
Phone
5184653334
Address
19 CLINTON AVENUE, ALBANY, NY 12207

Signing Officer

Name
Jeffrey Stone
Title
Treasurer
Phone
5184653334
Signed
2019-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Baboulis
Formed
1988
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
143
Volunteers
250

Preparer

Firm
MICHAEL A TOBIN & ASSOCIATES CPA'S PC
Address
40 BRITISH AMERICAN BLVD, LATHAM, NY 12110
Preparer
Michael a Tobin Ii
Phone
5187833100
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To operate the palace theater and fully utilize its cultural and civic value to the community.”

Form 990, Part XI, Line 9

“Merchandise costs netted against revenue -176,182 merchandise costs netted against revenue 176,182”

Financial Statement Notes

Schedule D, Page 3, Part X

“The palace has adopted fasb asc 740-10.25, accounting for uncertainty in income taxes. The palace files form 990 (return of organization exempt from income tax) annually. Form 990 is filed subject to examination by the internal revenue service up to three years from the extended due date of each return. The adoption of this standard resulted in no uncertain tax benefits or provisions identified and recorded as a liability or asset. The organization believes that there are no tax provisions taken or expected to be taken that would significantly increase or decrease unrecognized tax benefits within 12 months or the reporting date.”

Schedule D, Page 4, Part XI, Line 4B

“Merchandise costs netted against revenue 176,182”

Schedule D, Page 4, Part XII, Line 4B

“Merchandise costs netted against revenue 176,182”

Raw XML AppendixShowing 400 of 535 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt01528812
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01500377
IRS990/AccountsReceivableGrp/BOYAmt0219218
IRS990/AccountsReceivableGrp/EOYAmt0157054
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY.
IRS990/AdvertisingGrp/FundraisingAmt0375
IRS990/AdvertisingGrp/ManagementAndGeneralAmt03751
IRS990/AdvertisingGrp/ProgramServicesAmt022566
IRS990/AdvertisingGrp/TotalAmt026692
IRS990/AllOtherContributionsAmt0240394
IRS990/AllOtherExpensesGrp/FundraisingAmt092515
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt091715
IRS990/AllOtherExpensesGrp/ProgramServicesAmt0541409
IRS990/AllOtherExpensesGrp/TotalAmt0725639
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/PersonNm0JULIA ELBAUM
IRS990/BooksInCareOfDetail/PhoneNum05184653334
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt019 CLINTON AVENUE
IRS990/BooksInCareOfDetail/USAddress/CityNm0ALBANY
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd012207
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOfficerEntInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0177731
IRS990/CashNonInterestBearingGrp/EOYAmt01039236
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt055501
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0166502
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0222003
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/FundraisingAmt0433
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt04521
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt08793
IRS990/ConferencesMeetingsGrp/TotalAmt013747
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0242644
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt012767
IRS990/CYOtherExpensesAmt05724655
IRS990/CYOtherRevenueAmt0287
IRS990/CYProgramServiceRevenueAmt06200064
IRS990/CYRevenuesLessExpensesAmt0-993701
IRS990/CYSalariesCompEmpBnftPaidAmt01724808
IRS990/CYTotalExpensesAmt07449463
IRS990/CYTotalFundraisingExpenseAmt0295158
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt06455762
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt0169289
IRS990/DeferredRevenueGrp/EOYAmt0218627
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ProgramServicesAmt079994
IRS990/DepreciationDepletionGrp/TotalAmt079994
IRS990/Desc0TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt0143
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt05386016
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt015375
IRS990/FeesForServicesAccountingGrp/TotalAmt015375
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt02078
IRS990/FeesForServicesLegalGrp/TotalAmt02078
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt022659
IRS990/FeesForServicesOtherGrp/TotalAmt022659
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form1098CFiledInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form8899Filedind0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt90.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt110.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt120.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt130.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt140.25
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1540.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/PersonNm0ALAN GOLDBERG
IRS990/Form990PartVIISectionAGrp/PersonNm1JEFFREY STONE
IRS990/Form990PartVIISectionAGrp/PersonNm2STEPHEN BABOULIS
IRS990/Form990PartVIISectionAGrp/PersonNm3JOHN BENNETT MD
IRS990/Form990PartVIISectionAGrp/PersonNm4WALTER BORISENOK
IRS990/Form990PartVIISectionAGrp/PersonNm5PHILIP CALDERONE
IRS990/Form990PartVIISectionAGrp/PersonNm6THOMAS D'AMBRA
IRS990/Form990PartVIISectionAGrp/PersonNm7MARK EAGAN
IRS990/Form990PartVIISectionAGrp/PersonNm8GEORGE R HEARST III
IRS990/Form990PartVIISectionAGrp/PersonNm9KEVIN O'CONNOR
IRS990/Form990PartVIISectionAGrp/PersonNm10MARILYN PENDERGAST
IRS990/Form990PartVIISectionAGrp/PersonNm11DOMINICK PURNOMO
IRS990/Form990PartVIISectionAGrp/PersonNm12MICHELE L VENNARD
IRS990/Form990PartVIISectionAGrp/PersonNm13KATHY M SHEEHAN
IRS990/Form990PartVIISectionAGrp/PersonNm14RANDOLPH F TREECE
IRS990/Form990PartVIISectionAGrp/PersonNm15SUSAN FOGARTY
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15222003
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN EME
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD CHAIRM
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DI
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01988
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GovernmentGrantsAmt02250
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt06455762
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt015
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt0140405
IRS990/InsuranceGrp/ProgramServicesAmt047015
IRS990/InsuranceGrp/TotalAmt0187420
IRS990/IntangibleAssetsGrp/BOYAmt044111
IRS990/IntangibleAssetsGrp/EOYAmt032840
IRS990/InterestGrp/ManagementAndGeneralAmt028858
IRS990/InterestGrp/TotalAmt028858
IRS990/InventoriesForSaleOrUseGrp/BOYAmt023808
IRS990/InventoriesForSaleOrUseGrp/EOYAmt032591
IRS990/InvestmentIncomeGrp/ExclusionAmt012767
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012767
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt01011427
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0273589
IRS990/IRPDocumentCnt0120
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0489745
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02181220
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02160865
IRS990/LandBldgEquipCostOrOtherBssAmt02650610
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO OPERATE THE PALACE THEATER AND UTILIZE ITS FULL POTENTIAL AS A CULTURAL AND ENTERTAINMENT CENTER IN ALBANY, NY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01146994
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01118831
IRS990/NetAssetsOrFundBalancesBOYAmt02191963
IRS990/NetAssetsOrFundBalancesEOYAmt01198262
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt023533
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt053259
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0126608
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0203400
IRS990/OtherExpensesGrp/Desc0ARTIST & PROMOTER FEES
IRS990/OtherExpensesGrp/Desc1OTHER EVENT EXPENSES
IRS990/OtherExpensesGrp/Desc2SUSPENDED PROJECT COSTS
IRS990/OtherExpensesGrp/Desc3OUTSIDE LABOR
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01021663
IRS990/OtherExpensesGrp/ProgramServicesAmt01956656
IRS990/OtherExpensesGrp/ProgramServicesAmt11221888
IRS990/OtherExpensesGrp/ProgramServicesAmt2421812
IRS990/OtherExpensesGrp/TotalAmt01956656
IRS990/OtherExpensesGrp/TotalAmt11221888
IRS990/OtherExpensesGrp/TotalAmt21021663
IRS990/OtherExpensesGrp/TotalAmt3421812
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt0287
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0287
IRS990/OtherRevenueTotalAmt0287
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0164719
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0301213
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0719698
IRS990/OtherSalariesAndWagesGrp/TotalAmt01185630
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt013583
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt027117
IRS990/PayrollTaxesGrp/ProgramServicesAmt073075
IRS990/PayrollTaxesGrp/TotalAmt0113775
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0100232
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0121860
IRS990/PrincipalOfficerNm0STEPHEN BABOULIS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc2CONTRACT SERVICE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05933876
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1258810
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt27378
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05933876
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1258810
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt27378
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO OPERATE THE PALACE THEATER AND FULLY UTILIZE ITS CULTURAL AND CIVIC VALUE TO THE COMMUNITY.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01218980
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt06624
IRS990/PYOtherExpensesAmt03946491
IRS990/PYOtherRevenueAmt099824
IRS990/PYProgramServiceRevenueAmt05155010
IRS990/PYRevenuesLessExpensesAmt0919079
IRS990/PYSalariesCompEmpBnftPaidAmt01614868
IRS990/PYTotalExpensesAmt05561359
IRS990/PYTotalRevenueAmt06480438
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-993701
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06200064
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01279311
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0218062
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS REVENUE 13,499 NET INCOME FROM FUNDRAISING EVENTS 319,224
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0242644
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01218980
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0338766
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0278910
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0163147
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02242447
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt012767
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt06624
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt079
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01327
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0357
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt021154
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt011355074
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0287
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt098823
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0114441
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt085324
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt034135
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0333010
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.86360
IRS990ScheduleA/PublicSupportPY170Pct00.86050
IRS990ScheduleA/PublicSupportTotal170Amt02242447
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0242644
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01218980
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0338766
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0278910
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0163147
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02242447
IRS990ScheduleA/TotalSupportAmt02596611
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0807647
IRS990ScheduleD/BuildingsGrp/DepreciationAmt033287
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0840934
IRS990ScheduleD/EquipmentGrp/BookValueAmt0102195
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0298507
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0400702
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0176182
IRS990ScheduleD/ExpensesSubtotalAmt07273281
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0657206
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0657206
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0313574
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0155409
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0468983
IRS990ScheduleD/OtherExpensesNotIncludedAmt0176182
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0280243
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02542

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,036,097
Liabilities
$2,837,835
Net assets
$1,198,262
Revenue
$6,455,762
Expenses
$7,449,463
Net income
-$993,701
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.85$2.10$5.75$4.94$4.59$0.35
2023Summary only. Only limited summary data is available for this year.$7.46$2.44$5.02$4.22$4.07$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.86$2.99$4.87$5.30$3.42$1.88
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.40$2.41$2.99$3.09$1.08$2.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.61$2.63$0.98$3.47$3.68$0.21
2019Detailed filing. Detailed filing data is available for this year.$4.04$2.84$1.20$6.46$7.45$0.99
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.04$2.85$2.19$6.48$5.56$0.92
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.69$1.42$1.27$5.38$5.16$0.22
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.69$1.64$1.05$4.02$3.99$0.02
2015Detailed filing. Detailed filing data is available for this year.$2.88$1.85$1.03$4.42$4.08$0.35
2014Detailed filing. Detailed filing data is available for this year.$2.12$1.44$0.68$2.93$2.83$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.69$0.58$2.42
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.79$0.52$1.23
2011Summary only. Only limited summary data is available for this year.$0.90$0.39$0.51$0.94$1.18$0.23