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THE PALACE PERFORMING ARTS CENTER INC

ALBANY, NY · EIN 141708151 · Form 990 · FY2023 · NTEE A61Z · Arts, Culture & Humanities · Medium ($1M-$10M) · palacealbany.org
revenue
$4.6M
expenses
$3.9M
net assets
$5.4M
employees
104
volunteers
120
program ratio
75%
mission · from form 990

TO OPERATE THE HISTORIC PALACE THEATER A 2,800-SEAT CULTURAL AND ENTERTAINMENT FACILITY THAT IS LOCATED IN ALBANY, NY. THE ORGANIZATION WORKS TO ORGANIZE CULTURAL AND ENTERTAINMENT EVENTS PRESENTING AFFORDABLE, DIVERSE, QUALITY, POPULAR PERFORMING ARTS FOR PEOPLES OF ALL AGES, ETHNICITIES AND MEANS.

profile · synthesized from sources

The Palace Performing Arts Center Inc. operates the historic 2,800-seat Palace Theatre in Albany, NY, presenting a diverse lineup of concerts, comedy, film, and cultural events for audiences of all ages. As a nonprofit, it provides accessible arts programming through free community events and educational initiatives. The organization serves as a cultural anchor in downtown Albany, hosting touring artists and local institutions like the Albany Symphony Orchestra.

named programs · 5 · from sources

What they call their work

Arts Education
Programs providing local students with exposure to performing arts to support social-emotional development and creativity.
Community Block Party
Annual free event closing Clinton Avenue with live music, vendors, family activities, and community organizations.
Family Fun Days
Free movie screenings for families during school breaks, accompanied by games and activities one hour before showtime.
Summer in the City Movie Series
Eight free, family-friendly movies offered annually to over 6,000 children and families, with targeted outreach to low-income and underserved communities in Albany.
Trick or Treat at the Palace
Free Halloween event on October 31 featuring treats, activities, live music, and themed entertainment for families.
activities · 6 groups

What they do

  • Community Festival & Event Production 2 activities
    • Hosting community events and public gatherings
      Hosts an annual free community block party on Clinton Avenue with live music, vendors, and family-friendly activities, and makes the Palace Theatre available for use by local nonprofits, businesses, civic organizations, and community groups for fundraisers, celebrations, and awareness events.
    • Providing performing arts programming for children and families
      Provides performing arts programming accessible to thousands of children and families annually, including family and children's theatrical productions, free Family Fun Days during school breaks, and an annual free Trick-or-Treat event at the Palace Theatre featuring live music and Halloween festivities.
  • Historic Theater and Arts Venue Preservation 1 activity
    • Conducting theater renovations and facility improvements
      Conducted extensive renovations to the Palace Theatre between 2002 and 2003, including the installation of a new LED marquee replicating the original 1931 design, to preserve and enhance the historic venue.
  • Youth Theater Arts Education 1 activity
    • Delivering arts education and youth development programs
      Provides arts education programming and educational productions for local students to support social and emotional development, self-expression, and creativity, making the arts accessible to young people in the community.
  • Film Festival and Screening Programming 1 activity
    • Hosting free public movie series and outdoor events
      Hosts a free Summer in the City Movie Series and a free outdoor movie series during summer months, providing free films such as "Tangled," "How To Train Your Dragon," and "The Lego Movie" to over 6,000 children and families annually, with targeted outreach to low-income and underserved communities.
  • Performing Arts Ticket Access Programs 1 activity
    • Managing ticket sales and box office operations
      Operates a box office at 19 Clinton Avenue in Albany for in-person and online ticket sales through Ticketmaster.com, offers group discounts and member benefits including reduced fees, and provides accessible seating and seating charts to assist patrons with event planning.
  • Performing Arts Venue Rental 1 activity
    • Operating the Palace Theatre as a performing arts venue
      Operates the historic Palace Theatre, a 2,800-seat cultural and entertainment venue in downtown Albany, NY, by hosting a broad array of performances including concerts, Broadway productions, ballet, stand-up comedy, classical music, film screenings, and community events for diverse audiences of all ages and economic backgrounds.
financials · form 990 · fy2023
revenue
Total revenue$4.56M
Contributions & grants$734K16%
Program service revenue$3.65M80%
Investment income$170K4%
Other revenue$9K
expenses
Total expenses$3.90M
Program expenses75%
Admin / overhead24%
Fundraising1%
Salaries & benefits$1.29M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$8.00M
Cash$2.82M
Investments$2.53M
Liabilities$2.60M
Net assets$5.39M
Liquid reserves16.4 mo
5 years on record · 2019–2023 · YoY revenue +8.2%
leadership · form 990 part vii · fy2023

Who runs it

paid leadership · 3
NameTitleHours/wkCompensation
JULIA ELBAUM DIRECTOR OF FINANCE 40 $190K
KEVIN JOHNSON EXECUTIVE DIRECTOR 40 $180K
DANIEL TAYLOR GENEARL MANAGER 40 $130K
board members · 16
  • ALAN P GOLDBERG — MEMBER
  • DAN MCCOY — MEMBER
  • DOMINICK PURNOMO — MEMBER
  • GEORGE R HEARST III — MEMBER
  • HONORABLE KATHY M SHEEHAN — MEMBER
  • HONORABLE RANDOLPH F TREECE — MEMBER
  • JAMES BARBA — MEMBER
  • JEFFREY STONE — TREASURER
  • JOHN BENNETT MD — VICE CHAIRMAN
  • LEOLA EDELIN — MEMBER
  • MARILYN PENDERGAST — MEMBER
  • MARK EAGAN — MEMBER
  • PHILIP CALDERONE — MEMBER
  • STEPHEN BABOULIS — CHAIRMAN
  • THOMAS E D'AMBRA PHD — MEMBER
  • WADLER ST JEAN — MEMBER
relationships · 11

Who they work with

  • Albany Symphony Partner — Strategic partnership with the Grammy Award-winning orchestra to advance cultural programming.
  • Albany Symphony Orchestra Partner — Collaborates with the Palace Performing Arts Center to present classical and family concerts and support mutual sustainability.
  • City of Albany Government — Partnered with the City of Albany, which purchased the theatre in 1969 and prioritized its revitalization as part of downtown development.
  • Dylan Neary Partner — Primary contact for technical specifications inquiries at the Palace Theatre.
  • Kevin Johnson Partner — Primary contact for event rental inquiries at the Palace Theatre.
  • Sean Allen Partner — Director of Marketing; contact for marketing services and support for events at the Palace Theatre.
  • The Kids of Albany Partner — Collaborates with The Kids of Albany to host screenings of "The Rocky Horror Picture Show."
  • Ticketmaster Partner — Authorized partner for online ticket sales and verified ticket distribution.
  • charitable organizations Partner — Partnership to contribute positively to the area’s continued development
  • local businesses Partner — Partnership to make downtown Albany and the greater region a more vibrant destination
  • member partners Partner — Organizations that provide benefits to Palace members through partnership agreements.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Community-Centered Arts Programming
    methodology: arts-for-community-development
    By integrating performing arts with community engagement and partnerships, we improve quality of life and civic vitality in underserved neighborhoods because access to the arts fosters inclusion, belonging, and regional development.
  • Inclusive Access Model
    methodology: inclusive_access
    By offering affordable and diverse cultural programming, we expand access to the arts for people of all ages, ethnicities, and economic backgrounds because equitable access strengthens community participation and cultural engagement.
  • Strategic Collaboration for Cultural Impact
    methodology: strategic_collaboration
    By forming partnerships with local arts organizations and community groups, we amplify cultural programming and institutional effectiveness because shared resources and joint initiatives increase reach and sustainability.