Palace Cultural Arts Association
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 1,634,836 | 1,331,252 | 303,584 | 53.7 | 26% |
| 2021 | 1,288,776 | 655,925 | 632,851 | 123.5 | 24% |
| 2022 | 1,982,423 | 1,403,531 | 578,892 | 62.7 | 25% |
| 2023 | 1,467,559 | 1,626,936 | −159,377 | 52.2 | 23% |
In its most recent public year (2023), this organization spent $159,377 more than it brought in. Its reserves stood at about 52.2 months of spending, down from 53.7 in 2020. Staff pay was 23% of spending. $74,452 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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