Civic Intelligence

Palm Arts Inc

990 • Fiscal year 2015 • EIN 27-0962251

Jul 01, 2014 to Jun 30, 2015 • Filed on Sep 15, 2015

Organization Profilewww.telluridedance.com
721 W Colorado AvenueTelluride, CO 81435

(970) 729-1619

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Higher debt load relative to assets than 58% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

57th percentile

0.00x

Higher debt load relative to revenue than 57% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

94th percentile

63%

Higher net margin than 94% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

99th percentile

2336%

Faster asset growth than 99% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

96th percentile

199%

Faster revenue growth than 96% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$265,250

Up $254,360 (+2336%) from 2014

Net Assets

Up

$264,542

Up $254,734 (+2597%) from 2014

Liabilities

Down

$708

Down $374 (-35%) from 2014

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin94th percentile

Revenue

Up

$407,860

Up $271,365 (+199%) from 2014

Expenses

Up

$152,482

Up $15,858 (+12%) from 2014

Net Income

Up

$255,378

Up $255,507 (+198067%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $12,325Liabilities 2012: $285Net Assets 2012: $12,0402012Assets 2013: $12,940Liabilities 2013: $3,003Net Assets 2013: $9,9372013Assets 2014: $10,890Liabilities 2014: $1,082Net Assets 2014: $9,8082014Assets 2015: $265,250Liabilities 2015: $708Net Assets 2015: $264,5422015Assets 2016: $287,567Liabilities 2016: $6,970Net Assets 2016: $280,5972016Assets 2018: $537,547Liabilities 2018: $48,919Net Assets 2018: $488,6282018Assets 2019: $574,657Liabilities 2019: $21,625Net Assets 2019: $553,0322019Assets 2020: $584,174Liabilities 2020: $39,418Net Assets 2020: $544,7562020Assets 2021: $788,064Liabilities 2021: $36,218Net Assets 2021: $751,8462021Assets 2022: $928,673Liabilities 2022: $4,658Net Assets 2022: $924,0152022Assets 2023: $977,271Liabilities 2023: $39,424Net Assets 2023: $937,8472023Assets 2024: $1,065,897Liabilities 2024: $14,399Net Assets 2024: $1,051,4982024Assets 2025: $1,114,718Liabilities 2025: $23,189Net Assets 2025: $1,091,5292025

Highlighted filing

2015

Assets$265,250
Liabilities$708
Net Assets$264,542
Open 2015 Filing

Operations Trend

Revenue Growth96th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2012: $107,411Expenses 2012: $105,005Net Income 2012: $2,4062012Revenue 2013: $145,585Expenses 2013: $148,209Net Income 2013: -$2,6242013Revenue 2014: $136,495Expenses 2014: $136,624Net Income 2014: -$1292014Revenue 2015: $407,860Expenses 2015: $152,482Net Income 2015: $255,3782015Revenue 2016: $148,245Expenses 2016: $137,231Net Income 2016: $11,0142016Revenue 2018: $391,261Expenses 2018: $278,383Net Income 2018: $112,8782018Revenue 2019: $420,115Expenses 2019: $355,711Net Income 2019: $64,4042019Revenue 2020: $322,559Expenses 2020: $330,835Net Income 2020: -$8,2762020Revenue 2021: $327,301Expenses 2021: $214,786Net Income 2021: $112,5152021Revenue 2022: $644,065Expenses 2022: $385,416Net Income 2022: $258,6492022Revenue 2023: $356,043Expenses 2023: $367,292Net Income 2023: -$11,2492023Revenue 2024: $454,917Expenses 2024: $377,393Net Income 2024: $77,5242024Revenue 2025: $402,787Expenses 2025: $415,880Net Income 2025: -$13,0932025

Highlighted filing

2015

Revenue$407,860
Expenses$152,482
Net Income$255,378
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Sep 15, 2015
Return Version
2014v5.0
Gross Receipts
$407,860
Mission and Program Overview

Mission

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.

Palm Arts provides dance programs for children in Telluride.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$9,991$264,655▲ $254,664
Rtn Earn Endowment Incm Other Fnds$9,538$264,542▲ $255,004
Accounts Receivable$255$595▲ $340
Total Assets$10,246$265,250▲ $255,004
Liabilities
Accounts Payable and Accrued Expenses$708$708→ $0
Total Liabilities$708$708→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,538$264,542▲ $255,004
Total Liabilities and Net Assets / Fund Balance$10,246$265,250▲ $255,004
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Mark WestmanPresident
Judy GlucksternVice President
Ann BradyDirector
Banks BrownDirector
Valerie MadoniaDirector
Kathy JepsonSecretary Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$273,369
Program Service Revenue
$134,478
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$255,378
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$91,379
Salaries, Compensation, and Employee Benefits$61,103
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$42,915$10,020-$52,935
Other Expenses$21,808$713-$21,808
Payroll Taxes$5,189$2,979-$8,168
Insurance$686$1,022-$1,708
Fees for Services Other$1,508--$1,508
Fees for Services Accounting-$1,209-$1,209
All Other Expenses-$358-$358
Total Functional Expenses$136,181$16,301$0$152,482
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
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
No
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 governing body review Part VI line 11

“The Board is provided a copy of the 990 for review, via email or Board meeting, prior to submission to the IRS.”

Conflict of interest policy compliance Part VI line 12C

“The Board has a written Conflict of Interest policy that necessitates that conflicts be disclosed to the Board and staff.”

Governing documents etc available to public Part VI line 19

“Upon request, the Organization provides copies of governing documents to the general public.”

Filing and Contact Details

Filer

Filer Name
Palm Arts Inc
EIN
27-0962251
Address
721 W Colorado Avenue, Telluride, CO 81435

Signing Officer

Name
Kathy Jepson
Title
Secretary Tre
Signed
2015-09-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Mark Westman
Formed
2009
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
6

Preparer

Firm
SweetBooks LLC
Address
27696 Highway 145, Dolores, CO 81323
Preparer
Erin Sweet Neer CPA
Phone
9707291619
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“The change in net assests of $374 relates to changes made to the prior tax return numbers in the client's books after the tax return was filed.”

General explanation attachment

“Primary Exempt Purpose:Palm Arts, Inc. is an organization that seeks to provide for the development of a community appreciation for drama and musical arts in Telluride, Colorado.”

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

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board is provided a copy of the 990 for review, via email or Board meeting, prior to submission to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board has a written Conflict of Interest policy that necessitates that conflicts be disclosed to the Board and staff.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Upon request, the Organization provides copies of governing documents to the general public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The change in net assests of $374 relates to changes made to the prior tax return numbers in the client's books after the tax return was filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Primary Exempt Purpose:Palm Arts, Inc. is an organization that seeks to provide for the development of a community appreciation for drama and musical arts in Telluride, Colorado.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4General explanation attachment
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010246
IRS990/TotalAssetsEOYAmt0265250
IRS990/TotalAssetsGrp/BOYAmt010246
IRS990/TotalAssetsGrp/EOYAmt0265250
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0273369
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016301
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0136181
IRS990/TotalFunctionalExpensesGrp/TotalAmt0152482
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0708
IRS990/TotalLiabilitiesEOYAmt0708
IRS990/TotalLiabilitiesGrp/BOYAmt0708
IRS990/TotalLiabilitiesGrp/EOYAmt0708
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09538
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0264542
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0136181
IRS990/TotalProgramServiceRevenueAmt0134478
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0134491
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0407860
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010246
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0265250
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.telluridedance.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Kathy Jepson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary Tre
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-09-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Palm Arts Inc
ReturnHeader/Filer/BusinessNameControlTxt0PALM
ReturnHeader/Filer/EIN0270962251
ReturnHeader/Filer/USAddress/AddressLine1Txt0721 W Colorado Avenue
ReturnHeader/Filer/USAddress/CityNm0Telluride
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd081435
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271183474
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SweetBooks LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt027696 Highway 145
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Dolores
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd081323
ReturnHeader/PreparerPersonGrp/PhoneNum09707291619
ReturnHeader/PreparerPersonGrp/PreparationDt02015-09-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Erin Sweet Neer CPA
ReturnHeader/ReturnTs02015-09-02T08:32:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$265,250
Liabilities
$708
Net assets
$264,542
Revenue
$407,860
Expenses
$152,482
Net income
$255,378
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.02$1.09$0.40$0.42$0.01
2024Detailed filing. Detailed filing data is available for this year.$1.07$0.01$1.05$0.45$0.38$0.08
2023Detailed filing. Detailed filing data is available for this year.$0.98$0.04$0.94$0.36$0.37$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.93$0.00$0.92$0.64$0.39$0.26
2021Detailed filing. Detailed filing data is available for this year.$0.79$0.04$0.75$0.33$0.21$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.58$0.04$0.54$0.32$0.33$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.57$0.02$0.55$0.42$0.36$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.54$0.05$0.49$0.39$0.28$0.11
2016Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.28$0.15$0.14$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.26$0.41$0.15$0.26
2014Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.14$0.14$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.15$0.15$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.11$0.11$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • <$500k nonprofits