2024-03-01T16:33:12-05:00 2023-06-30 061218594 BUDWITZ & MEYERJACK PC 1122 HIGHLAND AVE CHESHIRE CT 064101654 990 2022-07-01 020620399 THE PALACE THEATER GROUP INC PALA 2033462000 100 EAST MAIN STREET WATERBURY CT 06702 MARTIN MORGADO CHAIRMAN 2033462000 2024-02-12 true MARTIN G MORGADO 999009999 false DANIEL C VOLLARO CPA P00055760 2032721621 2024-02-12 2022 2023-04-26 12:10:37Z FRANK TAVERA 100 EAST MAIN STREET WATERBURY CT 06702 5713679 false X WWW.PALACETHEATERCT.ORG X 2002 CT THE PALACE THEATER GROUP'S MISSION IS TO GENERATE A POSITIVE ARTISTIC, CULTURAL, EDUCATIONAL,SOCIAL AND FINANCIAL IMPACT IN THE GREATER WATERBURY CONNECTICUT AREA BY MAINTAINING THE PALACE THEATER. TO PRESERVE AND OPERATE THE HISTORIC PALACE THEATER AS A PERFORMING ARTS CENTER AND COMMUNITY GATHERING PLACE THAT PROVIDES A FOCAL POINT OF CULTURAL ACTIVITY AND EDUCATIONAL OUTREACH FOR DIVERSE AUDIENCES. 20 20 267 125 19450 4477548 1580674 2766574 3035196 124762 121738 75147 126836 7444031 4864444 0 0 1172719 1269983 0 382312 3479690 3500394 4652409 4770377 2791622 94067 7137767 7806972 931426 1244233 6206341 6562739 X THE PALACE THEATER GROUP'S MISSION IS TO GENERATE A POSITIVE ARTISTIC, CULTURAL, EDUCATIONAL,SOCIAL AND FINANCIAL IMPACT IN THE GREATER WATERBURY CONNECTICUT AREA BY MAINTAINING THE PALACE THEATER. TO PRESERVE AND OPERATE THE HISTORIC PALACE THEATER AS A PERFORMING ARTS CENTER AND COMMUNITY GATHERING PLACE THAT PROVIDES A FOCAL POINT OF CULTURAL ACTIVITY AND EDUCATIONAL OUTREACH FOR DIVERSE AUDIENCES. false false 3897302 3035196 PRESENTATION OF VARIOUS PLAYS AND SHOWS TO PROMOTE INTEREST IN THE THEATRE ARTS IN THE GREATER WATERBURY CONNECTICUT AREA. 3897302 true true false true false false false false false true true false false false true true true false false false false false false false true false false false false true false false false false false false false false false false false false false false false false false true 57 0 true 267 true true true false false false false true true false false false false false false false false X 20 20 false false false false false false false true true false false true true true true true true true false false CT X SANDRA ROSA FINANCE OFFICER 2033462013 100 EAST MAIN STREET WATERBURY CT 06702 FRANK TAVERA CHIEF EXEC. 37.50 X 217777 0 0 SANDRA ROSA FINANCE OFFI 37.50 X 90251 0 16033 VANESSA AGUILAR DIRECTOR 0.50 X 0 0 0 SHAE APLAND MARKETING CO 0.50 X X 0 0 0 DORA BENNETT SECRETARY 0.50 X X 0 0 0 KATHLEEN BROCHHAUSEN DIRECTOR 0.50 X 0 0 0 MARY GRACE CAVALLO DIRECTOR 0.50 X 0 0 0 BETH DEVINO DIRECTOR 0.50 X 0 0 0 R MICHAEL EPPS DIRECTOR 0.50 X 0 0 0 DAVID FERRARO DIRECTOR 0.50 X 0 0 0 CAROLYN HIGHSMITH DIRECTOR 0.50 X 0 0 0 JC HOPKINS DIRECTOR 0.50 X 0 0 0 JOHN HOPKINS DIRECTOR 0.50 X 0 0 0 DR PETER JACOBY PAST CHAIRMA 0.50 X 0 0 0 DR SCOTT KURTZMAN DIRECTOR 0.50 X 0 0 0 MARGARET LAWLOR DIRECTOR 0.50 X 0 0 0 DAVE MARTIN DIRECTOR 0.50 X 0 0 0 MARTIN MORGADO CHAIRMAN 0.50 X X 0 0 0 MICHAEL O'CONNOR VICE CHAIR/T 0.50 X X 0 0 0 PAUL PERNEREWSKI CHAIRMAN-PRI 0.50 X X 0 0 0 LYNNETTE LETSKY PIOMBO DIRECTOR 0.50 X 0 0 0 CHRISTOPHER REMPFER DIRECTOR 0.50 X 0 0 0 FELIX RODRIGUEZ DIRECTOR 0.50 X 0 0 0 MARY ROSENGRANT-CHIAPPALONE DEV. COMMITT 0.50 X X 0 0 0 TIMOTHY ROURKE DIRECTOR 0.50 X 0 0 0 DR VERNA D RUFFIN DIRECTOR 0.50 X 0 0 0 JACK SENICH VICE CHAIR 0.50 X X 0 0 0 308028 16033 1 false true false 106119 844332 630223 9021 1580674 EVENTS AND SHOW REVENUE 711190 2724416 2724416 WAMS PROGRAM INCOME 711190 250000 250000 RESTORATION FEES 711190 36452 36452 PARKING INCOME 711190 24328 24328 3035196 63657 63657 109239 140846 -31607 -31607 -31607 541513 29348 512780 28733 29348 58081 58081 41356 106119 41356 288545 154253 134292 134292 PLAYBILL ADVERTISING 711190 19450 19450 MISCELLANEOUS INCOME 711190 4701 4701 24151 4864444 3008290 19450 256030 316122 72560 171002 72560 723237 525641 84857 112739 155433 114638 23660 17135 75191 55285 11545 8361 3600 3600 32800 32800 21250 21250 54781 54781 54099 20543 23837 9719 51406 28135 9856 13415 365411 267438 56821 41152 9851 5477 4374 94189 67414 14078 12697 65568 48210 10067 7291 EVENT\SHOW DIRECT EXPENSE 2288151 2288151 WAMS EXPENSE 163561 163561 PUBLIC RELATIONS & MARKET 92283 13630 78653 CREDIT CARD FEES 90556 90556 112888 86759 21913 4216 4770377 3897302 490763 382312 9740 9740 3190466 3583679 69427 98260 12448 21394 38013 100047 1577786 1106444 526980 471342 3290693 3500562 21948 7137767 7806972 259529 210828 671897 1011457 21948 931426 1244233 X 6004697 6334055 201644 228684 6206341 6562739 7137767 7806972 X 94067 262331 X false true X true false X 844061 1383195 1115242 4477548 1580674 9400720 3688935 2694133 446343 2986687 3323741 13139839 196405 6980 220113 288545 712043 4532996 4273733 1568565 7684348 5192960 23252602 23252602 215631 151435 69124 140954 172896 750040 215631 151435 69124 140954 172896 750040 19450 19450 155 28874 490 1474 4701 35694 4748782 4454042 1638179 7826776 5390007 24057786 0.96650 0.95340 0.03000 0.04000 X PART III, LINE 12 OTHER INCOME 7,837 INSURANCE PROCEEDS 27,857 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 21250 false false 21250 false SCHEDULE C, PART II-B, LINE 1 THE PALACE THEATER GROUP HAS RETAINED THE SERVICES OF GAFFNEY, BENNETT AND ASSOC. INC. TO HELP THE PALACE WORK WITH THE CONNECTICUT STATE DELEGATION IN SUPPORT OF ITS PROGRAM ACTIVITIES. 3119715 373211 170146 3322780 3775995 862 -502999 154143 3119715 3154594 4460 765044 148103 3775995 2954770 153846 198928 152950 3154594 2872604 150 191441 109425 2954770 0.94140 0.05860 false false 797467 571523 225944 731259 485861 245398 49060 49060 471342 LEASE LIABILITIES-OPERATING 21948 21948 X 5193145 262331 74319 336650 4856495 7949 7949 4864444 4836747 74319 74319 4762428 7949 7949 4770377 SCHEDULE D, PAGE 2, PART V, LINE 4 USE OF ENDOWMENT FUNDS IS DETERMINED ANNUALLY BY THE BOARD OF DIRECTORS TO SUPPORT OPERATIONS AS NEEDED. SCHEDULE D, PAGE 3, PART X PTG HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30,2023,2022 AND 2021. PTG'S U.S. FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2019 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN THE LAW AND NEW AUTHORIZATIVE RULINGS. IF PTG HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE THE INCOME PROVISION AND INCLUDE THE ACCRUED INCOME TAX LIABILITY IN ITS STATEMENT OF FINANCIAL POSITION. SCHEDULE D, PAGE 4, PART XI, LINE 4B DEPRECIATION NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS 2,502 DONATED SERVICES NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS 5,447 SCHEDULE D, PAGE 4, PART XII, LINE 4B DEPRECIATION NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS 2,502 DONATED SERVICES NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS 5,447 WINE DINNER 95595 66449 29146 29146 B3 25980 19950 6030 6030 1 25900 19720 6180 6180 147475 106119 41356 41356 41356 false false false false false false false false false FRANK TAVERA CHIEF EXEC. OFFICER 217777 217777 FORM 990 - ORGANIZATION'S MISSION THE PALACE THEATER GROUP'S MISSION IS TO GENERATE A POSITIVE ARTISTIC, CULTURAL, EDUCATIONAL,SOCIAL AND FINANCIAL IMPACT IN THE GREATER WATERBURY CONNECTICUT AREA BY MAINTAINING THE PALACE THEATER. TO PRESERVE AND OPERATE THE HISTORIC PALACE THEATER AS A PERFORMING ARTS CENTER AND COMMUNITY GATHERING PLACE THAT PROVIDES A FOCAL POINT OF CULTURAL ACTIVITY AND EDUCATIONAL OUTREACH FOR DIVERSE AUDIENCES. FORM 990, PAGE 6, PART VI, LINE 11B THE COMPLETED 990 IS PROVIDED TO THE ORGANIZATIONS AUDIT COMMITTEE FOR REVIEW. UPON REVIEW AND APPROVAL BY THE AUDIT COMMITTEE, COPIES OF THE 990 ARE PROVIDED TO ALL BOARD OF DIRECTOR MEMBERS BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION REQUIRES BOARD MEMBERS TO DISCLOSE ANNUALLY ANY CONFLICTS OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE SERVES AS THE PERSONNEL COMMITTEE TO DETERMINE COMPENSATION FOR THE CEO. AS THE CEO POSITION IS A CONTRACTED POSITION, THE COMPENSATION IS USUALLY DETERMINED BY THE LENGTH OF THE AGREEMENT. ALL OTHER COMPENSATION OF MANAGEMENT STAFF IS DETERMINED BY THE CEO WITH INPUT FROM THE EXECUTIVE COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 19 THIS INFORMATION IS AVAILABLE FOR INSPECTION UPON REQUEST AT THE ORGANIZATIONS PLACE OF BUSINESS DURING NORMAL BUSINESS HOURS. APPOINTMENTS FOR REVIEW OF THESE DOCUMENTS MUST BE MADE WITH THE ORGANIZATION'S FINANCE OFFICER IN ADVANCE. FORM 990, PART XI, LINE 9 DEPRECIATION NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS -2,502 DONATED SERVICES NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS -5,447 DEPRECIATION NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS 2,502 DONATED SERVICES NETTED AGAINST REVENUE 0 ON FINANCIAL STATEMENTS 5,447