Palace Theatre Trust

Analysis

Palace Theatre Trust is a registered charity in United States, based in Manchester, NH. It received its IRS tax-exemption ruling in May 1999, 27 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palace Theatre Trust reported income of $6.9m and spending of $6.5m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.9m to $6.9m (+17%), an average of +4.0% a year. The sharpest change came in the year to June 2022, when income rose by 145%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palace Theatre Trust sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within NH. Charities of a similar size with the same main cause include Houston Advanced Research Center ($6.9m), Mid-South Public Communications Foundation ($6.9m) and National Building Museum ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $156k (2.4% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $17.4m against liabilities of $4.5m, net assets of $13.0m. It reported 85 employees.