SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2012
Open to Public
Inspection
Name of the organization
THE PALACE THEATER GROUP INC
 
Employer identification number

02-0620399
Identifier Return Reference Explanation
ORGANIZATION'S MISSION 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 PRESEVE 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.
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 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 COMITTEE, COPIES OF THE 990 ARE PROVIDED TO ALL BOARD OF DIRECTOR MEMBERS BEFORE THE RETURN IS FILED WITH THE IRS.
ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION REQUIRES BOARD MEMBERS TO DISCLOSE ANNUALLY ANY CONFLICTS OF INTEREST.
COMPENSATION PROCESS FOR TOP OFFICIAL 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.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION 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 ORGANIZATIONS FINANCE OFFICER IN ADVANCE.
RECONCILIATION OF CHANGES - OTHER FORM 990, PART XI, LINE 9 FUNDRAISING EXPENSES INCLUDED ON PART VIII LINE 8B 25,125 FUNDRAISING EXPENSES INCLUDED ON PART VIII LINE 8B -25,125
OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 9 PRIOR PERIOD ADJUSTMENT 65,731 CHANGES IN THE ORGANIZATIONS PRIOR PERIOD ESTIMATE OF ITS CAPITAL FUND WERE DISCOVERED AND MADE IN THE CURRENT YEAR. ACCORDINGLY, AN ADJUSTMENT OF 31,197 WAS MADE DURING THE YEAR ENDED JUNE 30, 2012 TO INCREASE CAPITAL FUND AT THE BEGINNING OF THE YEAR AND A CORRESPONDING ENTRY WAS MADE TO REDUCE PREVIOUSLY REPORTED UNRESTRICTED NET ASSETS AT THAT DATE. THE JUNE 30, 2012 FINANCIAL STATEMENTS HAVE BEEN RESTATED BY REDUCING PREVIOUSLY REPORTED EVENT REVENUE IN THE STATEMENT OF ACTIVITIES BY 34,534 WITH A CORRESPONDING INCREASE IN CAPITAL FUND FOR THAT AMOUNT ON THE STATEMENT OF FINANCIAL POSITION AT JUNE 30, 2012. THE CUMULATIVE EFFECT OF THESE CHANGES IS AN INCREASE IN PREVIOUSLY REPORTED CAPITAL FUND OF 65,731 AT JUNE 30, 2012 AND A CORRESPONDING REDUCTION IN PREVIOUSLY REPORTED UNRESTRICTED NET ASSETS FOR THE SAME AMOUNT AT THAT DATE. RESTRICTED CASH AT JUNE 30, 2012 HAS BEEN INCREASED BY 65,731 WITH A CORRESPONDING DECREASE IN UNRESTRICTED CASH ON THE STATEMENT OF FINANCIAL POSITION IN ACCORDANCE WITH THE ADJUSTMENTS TO THE CAPITAL FUND.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2012

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