Palette Masque and Lyre
Nonprofit profile at a glance
- EIN
- 363487153
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Antioch, IL, USA
- Phone
- 8473953433
- Rating
- 56
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Theater
Reported finances
- Revenue
- $329,616
- Expenses
- $289,980
- Assets
- $580,880
- Liabilities
- $99,165
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- Betsy Grindol (Vice President)
- Regina Reynolds (President)
Highest reported compensation
- Adam Armstrong (Managing Director): $45,010 total reported compensation
- Isaac Armstrong (Treasurer): $1,867 total reported compensation
- Betsy Grindol (Vice President): $1,110 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purposes for which the corporation is organized are: to promote the fine arts by producing plays, art exhibits, music concerts, musical comedies and instructing the same. PM&L, Inc. does not discriminate against any prospective member or participant because of his or her race, color, religion, sex, national origin, ancestry, age, order of protection status, marital status, physical or mental disability, military status, sexual orientation, pregnancy, or unfavorable discharge from military service.
What it reported doing in 2024
Children's Stagestruck Theatre Workshop: During Season 62, PML again expanded the offered children's theatre workshops, opening up to various age groups and timeframes. The experience includes education on acting, singing, dancing, set construction and general performance. The workshops concluded with several performances of WIZARD OF OZ; ADDAMS FAMILY; SHREK THE MUSICAL; RAPUNZEL. Revenues are generated by workshop fees along with performance ticket sales at a modest $10. The program included 204 workshop participants that performed 26 events with 3016 patrons attending. This program area revenue includes ticket sales for the performances, but also enrollment fees for the children's workshops.
Operating model
- Revenue model
- Other-operating. 88% of the money available for current operations came from other operating revenue.
- 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
MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.
Rating breakdown
- Financial Efficiency: 52
- Transparency & Controls: 92
- Accountability: 5
- Sustainability: 52
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 55.2%; rating input score 55
- Program expense ratio: 62.7%; rating input score 63
- 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: 0%; rating input score 0; 7th percentile among comparable filings
- Governance controls: 1 of 9 controls in place; rating input score 11
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 12%; rating input score 63; 63rd percentile among comparable filings
- Total-asset coverage ratio: 2; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.17; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 17.1%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: 42.3% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 30.8% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: -1.4% per year; rating input score 0; 20th percentile among comparable filings
Details
- Where the money goes: 55.2% of revenue deployed · 62.7% of spending went to programs
- Governance: 0 of 8 board members independent · 1 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $182K in reported program spending
- Leadership: top reported pay $45K · 8 people listed
- Consistency: 34 of 34 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- 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.
- High — Accountability: Independent voting board scored 0/100.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- High — Accountability: Governance controls: 7 of 8 not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.
- High — Sustainability: Officer compensation ratio scored 22/100.