Civic Intelligence

Palm Arts Inc

990 • Fiscal year 2021 • EIN 27-0962251

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 10, 2021

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

56th percentile

0.05x

Higher debt load relative to assets than 56% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

66th percentile

0.11x

Higher debt load relative to revenue than 66% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

77th percentile

34%

Higher net margin than 77% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

56th percentile

$13,163

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

77th percentile

35%

Faster asset growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

36th percentile

1.5%

Faster revenue growth than 36% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$788,064

Up $203,890 (+35%) from 2020

Net Assets

Up

$751,846

Up $207,090 (+38%) from 2020

Liabilities

Down

$36,218

Down $3,200 (-8.1%) from 2020

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin77th percentile

Revenue

Up

$327,301

Up $4,742 (+1.5%) from 2020

Expenses

Down

$214,786

Down $116,049 (-35%) from 2020

Net Income

Up

$112,515

Up $120,791 (+1460%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2021

Assets$788,064
Liabilities$36,218
Net Assets$751,846
Open 2021 Filing

Operations Trend

Revenue Growth36th 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

2021

Revenue$327,301
Expenses$214,786
Net Income$112,515
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 10, 2021
Return Version
2020v4.0
Gross Receipts
$364,307
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$451,501$596,245▲ $144,744
Land, Buildings, and Equipment, Net$55,855$105,155▲ $49,300
Savings and Temporary Cash Investments$73,791$79,364▲ $5,573
Prepaid Expenses and Deferred Charges$1,128$4,046▲ $2,918
Accounts Receivable$1,899$3,254▲ $1,355
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$584,174$788,064▲ $203,890
Other Assets Total-$0-
Liabilities
Other Liabilities$33,901$28,453▼ $5,448
Deferred Revenue$500$5,910▲ $5,410
Accounts Payable and Accrued Expenses$5,017$1,855▼ $3,162
Total Liabilities$39,418$36,218▼ $3,200
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$271,756$478,846▲ $207,090
Net Assets With Donor Restrictions$273,000$273,000→ $0
Total Net Assets Fund Balance$544,756$751,846▲ $207,090
Total Liabilities and Net Assets / Fund Balance$584,174$788,064▲ $203,890

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$71,464$43,140$114,604
Other Land Buildings$33,691$3,920$37,611
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathy JepsonDirector of OpPT$13,163$13,163

Board Members and Trustees

NameTitle
Jonathan AbramPresident
Warner PaigeVice President
Judith GlucksternDirector
Megan OssolaDirector
Nathan ScherichDirector
Stephanie HatcherDirector
Valerie MadoniaDirector
Keira SkinnerSecretary
Mark WestmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$182,955
Program Service Revenue
$105,267
Investment Income
$39,351
Other Revenue
$-272
All Other Contributions
$64,454
Change in Net Assets
$112,515

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$27,968Fair Market Value (FMV)
Total Noncash Contributions1$27,968-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$140,177
Other Expenses$74,609
Total Fundraising Expense$931
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$47,253$76,883-$124,136
Depreciation Depletion-$18,279-$18,279
Occupancy$15,000--$15,000
Fees for Services Other$1,612$9,389-$11,001
Current Officers, Directors, Trustees, and Key Employees$9,768--$9,768
Payroll Taxes$6,273--$6,273
Insurance-$3,659-$3,659
All Other Expenses$566$2,187$363$3,116
Other Expenses$1,497$719-$2,216
Fees for Services Accounting$414$1,791-$2,205
Advertising$363-$568$931
Conferences and Meetings$28$261-$289
Office Expenses$65$179-$244
Travel$103$11-$114
Total Functional Expenses$91,710$122,145$931$214,786
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Paycheck Protection Program Loan$28,453
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 35% controlled entity
No
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, Part VI, Line 11B: Form 990 Review Process

“Reviewed by the Director of Operations and board members for accuracy before filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All board members are aware of the conflict of interest policy and all new members are made aware of the policy at the beginning of their term.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Director of Operation's compensation is based on comparison with other theaters of similar size, combined with comparison of local director salaries, which is then approved by the board.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“The Organization makes its governing documents and financial statements available to the public upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Palm Arts Inc
EIN
27-0962251
Phone
9707291619
Address
721 W Colorado Avenue, Telluride, CO 81435

Signing Officer

Name
Mark Westman
Title
Treasurer
Phone
2022352200
Signed
2021-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jonathan Abram
Formed
2009
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
11
Volunteers
80

Preparer

Firm
Laura E Hokanson CPA CGMA MSc
Address
60 W Grimes Creek Dr, Bayfield, CO 81122
Preparer
Laura E Hokanson
Phone
9704262256
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IRS990/OccupancyGrp/TotalAmt015000
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0179
IRS990/OfficeExpensesGrp/ProgramServicesAmt065
IRS990/OfficeExpensesGrp/TotalAmt0244
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Dance Program Supplies
IRS990/OtherExpensesGrp/Desc1Small equipment/tools
IRS990/OtherExpensesGrp/Desc2Cleaning & maintenance
IRS990/OtherExpensesGrp/Desc3Merchant processing fees
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03996
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14791
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2719
IRS990/OtherExpensesGrp/ProgramServicesAmt07390
IRS990/OtherExpensesGrp/ProgramServicesAmt11252
IRS990/OtherExpensesGrp/ProgramServicesAmt2126
IRS990/OtherExpensesGrp/ProgramServicesAmt31497
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IRS990/OtherExpensesGrp/TotalAmt15248
IRS990/OtherExpensesGrp/TotalAmt24917
IRS990/OtherExpensesGrp/TotalAmt32216
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IRS990/OtherLiabilitiesGrp/EOYAmt028453
IRS990/OtherRevenueMiscGrp/Desc0Other Income
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0764
IRS990/OtherRevenueTotalAmt0764
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt076883
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt047253
IRS990/OtherSalariesAndWagesGrp/TotalAmt0124136
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
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IRS990/PayrollTaxesGrp/ProgramServicesAmt06273
IRS990/PayrollTaxesGrp/TotalAmt06273
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01128
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04046
IRS990/PrincipalOfficerNm0Jonathan Abram
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Dance Program Fees
IRS990/ProgramServiceRevenueGrp/Desc1Mgmt & Production Fees
IRS990/ProgramServiceRevenueGrp/Desc2Theater Facility Rental
IRS990/ProgramServiceRevenueGrp/Desc3Theater Program Fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt079735
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt220285
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt33747
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt079735
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt220285
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt33747
IRS990/ProgSrvcAccomActy2Grp/Desc0Palm Arts theatre programming is committed to bringing national and international touring companies to the Michael D. Palm Theatre and Bob Saunders theatre for public performances and student outreaches as pandemic protocols allow. Additionally, Palm Arts was able to safely operate the after-school dance program, adhering to all COVID safety guidelines and provide a large and well-ventilated venue for local non-profit use.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt03747
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IRS990/PYOtherRevenueAmt08244
IRS990/PYProgramServiceRevenueAmt0226232
IRS990/PYRevenuesLessExpensesAmt0-8276
IRS990/PYSalariesCompEmpBnftPaidAmt0218301
IRS990/PYTotalExpensesAmt0330835
IRS990/PYTotalRevenueAmt0322559
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt0112515
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt073791
IRS990/SavingsAndTempCashInvstGrp/EOYAmt079364
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt076931
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt082156
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt076557
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt097167
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0515766
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt017481
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt020250
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt048639
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0307516
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0231704
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt020250
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt048639
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0136873
IRS990ScheduleA/InvestmentIncomeCYPct00.07340
IRS990ScheduleA/InvestmentIncomePYPct00.05770
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0414420
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0384073
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0328871
IRS990ScheduleA/Total509Grp/TotalAmt01726993
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0431901
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0404323
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0377510
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01863866

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$788,064
Liabilities
$36,218
Net assets
$751,846
Revenue
$327,301
Expenses
$214,786
Net income
$112,515
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