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47 Palmer INC

Tax-deductible

Cambridge, MA501(c)(3)Arts & CultureEIN 04-3255365

The mission of Passim is to provide truly exceptional and interactive live musical experiences for both performers and audiences, to nurture artists at all stages of their career, and to build a vibrant music community. We do so through our legendary listening venue, music school, artist grants and outreach programs. As a nonprofit since 1994, Passim carries on the heritage of our predecessors-the historic Club 47 (1958-1968) and for-profit Passim (1969-1994). We cultivate a diverse mix of musical traditions, where the emphasis is on the relationship between performers and audience and between teachers and students. Located in Harvard Square, Passim serves Cambridge and the broader region by featuring local, national and international artists. Our ultimate goal is to help the performance arts flourish and thereby enrich the lives of members of our community.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 years looks good.
IRS e-file · Filing history
Is it financially stable?
2 of 5
years in the black
Concern: 3 of the last 5 filings show a deficit.
Pt I · Ln 19 · 5 filings
How much reaches the programs?
77%
of spending
Looks good: 77% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
Do they have reserves?
2 mo
of spending, in cash
Worth a look: 1.6 months of spending in cash; under 3 is worth a look.
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
1
named funder · $100
Worth a look: 1 funder names it on their filings; under 3 is worth a look.
Funders’ Sch. I, 990-PF
Do they carry debt?
$183K
liabilities
Looks good: debts are 36% of assets; 50% or less looks good.
Pt X · Ln 26
Who oversees it?
14
independent of 14 voting board members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$2.3M
+7% vs prior year
Spent
$2.4M
To programs
77%
Net assets
$331K
By yearFY2021–FY2025
Revenue
$2.3M
FY2025▲ +7%
Revenue by fiscal year
FY2021$1.0M
FY2022$1.6M
FY2023$1.8M
FY2024$2.1M
FY2025$2.3M
Expenses
$2.4M
FY2025▲ +8%
Expenses by fiscal year
FY2021$908K
FY2022$1.5M
FY2023$1.8M
FY2024$2.2M
FY2025$2.4M
Net assets
$331K
FY2025▼ -22%
Net assets by fiscal year
FY2021$487K
FY2022$595K
FY2023$512K
FY2024$427K
FY2025$331K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Give Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item C47 Palmer INC
EINHdr · item D04-3255365
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1996
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CCambridge, MA
NTEE classificationIRS BMFArts & Culture (A200)
WebsiteHdr · item Jwww.passim.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.17 Fundraising $0.07
Program services77%$1.8M
Management & general17%$401K
Fundraising7%$160K
Total functional expensesLn 25$2.4M

Financial health

Is it on solid ground?

Program efficiency
77%
of spending reaches programs-0.5% vs prior filing year
Operating runway
2.1mo
months of highly liquid reserves at operating expense rate▼ -12% vs prior filing year
Surplus margin
-4%
revenue over expenses, this year▼ -5% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$514K
FY2025▼ -12%
Total assets by fiscal year
FY2021$736K
FY2022$701K
FY2023$652K
FY2024$585K
FY2025$514K
Total liabilities
$183K
FY2025▲ +16%
Total liabilities by fiscal year
FY2021$249K
FY2022$105K
FY2023$140K
FY2024$158K
FY2025$183K
Revenue less expensesPt I · Ln 19−$96K
Total assetsPt X · Ln 16$514K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Balance Sheet

Part X · end of year
CashLn 1$320K
Total assetsLn 16$514K
Total liabilitiesLn 26$183K
Total net assetsLn 32$331K
Months of cash on handcomputed1.6

Statement of Revenue

Part VIII
Program service revenue$1.5M · 65%
Contributions & grants$803K · 35%
Program service revenue65%$1.5M
Contributions & grants35%$803K
Investment income$5K
— government grantsLn 1e$83K
Total revenueLn 12$2.3M

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $428K · Operating expenses/yr $2.4M
2.1 months
Where the money goes
Program services
Program services $1.8M · Total expenses $2.4M
77%
Management & General
Management & general $401K · Total expenses $2.4M
17%
Fundraising
Fundraising $160K · Total expenses $2.4M
7%
Cost to raise $1
Fundraising expense (3-yr avg) $126K · Solicited contributions (3-yr avg) $622K
$0.20 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $803K · Total revenue $2.3M
35%
Government reliance
Government grants $83K · Total revenue $2.3M
4%
Earned-income share
Program service revenue $1.5M · Total revenue $2.3M
65%
Investment reliance
Investment income $5K · Total revenue $2.3M
+0.2%
Program self-sufficiency
Program service revenue $1.5M · Total expenses $2.4M
62%
Growth & trend
Revenue growth (YoY)
This year $2.3M · Prior year $2.1M
+7%
Revenue CAGR
FY2020 $1.0M · FY2024 $2.3M
+22%
Net-asset trend (YoY)
End of year $331K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.3M · Expenses $2.4M
-4%
Liabilities-to-Assets
Total liabilities — · Total assets $514K
—
Net-asset ratio
Net assets $331K · Total assets $514K
64%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $108K · Total assets (Pt X, ln 16) $514K
21%
People & payroll
Highest Reported Total Compensation
Individual James Patrick Kelly · Reported title Director & Treasurer · Highest reported compensation $0 · Total expenses $2.4M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $902K · Total expenses $2.4M
38%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 17%——
Fundraising cost ratio 20%——
Revenue growth 7%——
Accounting fee ratio 0.9%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
James Patrick Kelly
Director & Treasurer
$0Pt VII · Sec A
Alice Bruce
Director
$0Pt VII · Sec A
Jaime D'Almeida
Director & Clerk
$0Pt VII · Sec A
Chuck Honnet
Director & VP
$0Pt VII · Sec A
Kemp Harris
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Gillard
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See 47 Palmer INC executive salaries →

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Governance & Policies

Part VI
  • 14Voting board membersPt VI · Ln 1a
  • 14Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Nurtures artists and builds community through live music, education, and grants.

Provided by the organization

This section is blank until 47 Palmer INC claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $1.8M of program spending, described in the organization's own filed words · FY2024.
01

Club Passim

See Schedule OClub PassimClub Passim put on 366 concerts during fiscal year 2025, conducted in the club and via livestream. In a typical year, in addition to our regular concerts, we hold a variety of special concerts, including our annual Celtic Music Festival.

$1.6Mprogram expense
02

Education

See Schedule OEducationEducation - Passim School of MusicFrom July 1, 2024 through June 30, 2025, the Passim School of Music served 746 students through 144 classes, voice lessons, and workshops. The intimate, inclusive environment is specially designed to foster a sense of community across students and instructors.

$143Kprogram expense
03

Outreach

See Schedule OOutreachPassim presents artists in the community as part of its Outreach Program. Each summer we present a series of free outdoor weekly concerts in Harvard Square and Kendall Square.

$59Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
The John and Shirley Nash FoundationFY2025$100
Total grants receivedfrom 1 funder$100
Grants paid · 8 grants · $318K · 2020–2024
Unitemized GrantFY2024$46,500
Unitemized GrantFY2024$15,000
Unitemized GrantFY2023$46,950
Unitemized GrantFY2022$35,850
Unitemized GrantFY2021$46,545
Unitemized GrantFY2021$40,000
Unitemized GrantFY2020$45,750
Unitemized GrantFY2020$41,171

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest Viewing $2.3M$2.4M+7% 990 PDF
FY2024 $2.1M$2.2M+23% 990 PDF
FY2023 $1.8M$1.8M+8% 990 PDF
FY2022 $1.6M$1.5M+55% 990 PDF
FY2021 $1.0M$908K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2025

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $2,403,266 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $61,500$61,500
IX-5 Pay of current officers, directors and key staffPrograms $61,009 · Management $33,894 · Fundraising $40,672$135,575
IX-7 Other salaries and wagesPrograms $447,440 · Management $98,448 · Fundraising $95,981$641,869
IX-8 Pension plan contributionsManagement $9,982$9,982
IX-9 Other employee benefitsManagement $39,250$39,250
IX-10 Payroll taxesPrograms $48,818 · Management $14,376 · Fundraising $12,094$75,288
IX-11c Accounting feesPrograms $3,900 · Management $17,570$21,470
IX-11g Other fees for servicesPrograms $769,196 · Management $106,827 · Fundraising $1,748$877,771
IX-12 Advertising and promotionPrograms $6,322 · Management $7,604$13,926
IX-16 OccupancyPrograms $116,240 · Management $4,491 · Fundraising $4,491$125,222
IX-22 Depreciation, depletion and amortizationPrograms $10,027 · Management $77$10,104
IX-23 InsurancePrograms $27,263 · Management $4,702$31,965
IX-24 Other expenses (24a–d)Programs $248,069 · Management $36,586 · Fundraising $32$284,687
IX-24e All other expensesPrograms $42,038 · Management $27,215 · Fundraising $5,404$74,657
IX-25 Total functional expensesPrograms $1,841,822 · Management $401,022 · Fundraising $160,422$2,403,266

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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