Corsicanas Palace Theatre

Nonprofit profile at a glance

EIN
043736523
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Corsicana, TX, USA
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Centers

Reported finances

Revenue
$381,327
Expenses
$269,720
Assets
$170,443
Liabilities
$89,754

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • JASON MANNING (VICE PRESIDENT)
  • LIZ KINGMAN (PRESIDENT)
  • ASHTON KANTOR (EXECUTIVE DIRECTOR)

People named in this filing

  • TIM BRADY (DIRECTOR)
  • LOREN PAGE (DIRECTOR)
  • SANDRA HUFFMAN (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The palace theatre offers to the public on an annual basis a variety of professional musical artists in an early 1920s style theatre. All types of vocalists, instrumentals and musicals are presented

What it reported doing in 2025

The only major program service is the presentation of artists. There are five-six major performances each year and many other performances suited to both adults and children. The theatre seats 550. Artists that have performed at the palace include crystal gayle, larry gatlin, vicki lawrence, amy grant and terry fator. The expenses cover the artists fees, travel and lodging and production costs. The revenue is provided by ticket sales & concessions. These performances are the fulfillment of the exempt purpose of exposing the public to different genres of music through professional artist

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.6%; rating input score 66
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.3%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 65.6% of revenue deployed · 92.7% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $250K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.