Palette Masque and Lyre

Analysis

Palette Masque and Lyre is a registered charity in United States, based in Antioch, IL. It received its IRS tax-exemption ruling in September 1987, 39 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 August 2023, Palette Masque and Lyre reported income of $212k and spending of $192k, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $154k to $212k (+37%), an average of +8.2% a year. The sharpest change came in the year to August 2022, when income rose by 74%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palette Masque and Lyre sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within IL. Charities of a similar size with the same main cause include Ventura Audubon Society ($212k), Patrons of the Arts in the Vatican Museums Minnesota ($212k) and Teatro de LA Luna -The Moon Theatre ($212k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 7.4% and program service revenue 90% of the total. Other salaries and wages came to $15k. At year end it held assets of $645k against liabilities of $127k, net assets of $518k. It reported 12 employees.