Georgetown Palace Theatre Inc

Analysis

Georgetown Palace Theatre Inc is a registered charity in United States, based in Georgetown, TX. It received its IRS tax-exemption ruling in January 1992, 34 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 December 2023, Georgetown Palace Theatre Inc reported income of $2.4m and spending of $2.2m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $2.4m (+5.3%), an average of +1.3% a year. The sharpest change came in the year to December 2021, when income rose by 310%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Georgetown Palace Theatre Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Historic Hoosier Hills R C & D Inc ($2.4m), Community Musicworks ($2.4m) and Armenian Educational Foundation Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% of the total. Compensation of current officers, directors and key employees was $75k (3.4% of expenses). Other salaries and wages came to $676k. At year end it held assets of $8.3m against liabilities of $37k, net assets of $8.3m. It reported 81 employees.