Nonprofit · EIN 87-4101298
PEARL ARTS INC
Tax-exempt · FORT WAYNE, IN 46802
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $2,583,103 | $2,325,721 | $257,382 | $26,338,823 | $311,801 | $26,027,022 |
| December 31, 2024 | 990 (amended) | $13,329,224 | $884,049 | $12,445,175 | $26,443,838 | $637,702 | $25,806,136 |
| December 31, 2023 | 990 (amended) | $9,892,756 | $249,784 | $9,642,972 | $11,926,974 | $1,134,333 | $10,792,641 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,066,802
- Program service revenue
- $553,861
- Investment income
- $30,820
- Net rental income
- -$68,380
- Other revenue
- -$68,380
Expenses
- Grants and similar amounts paid
- $359,085
- Compensation of officers, directors and key employees
- $218,061
- Other salaries and wages
- $202,690
- Salaries, compensation and benefits (total)
- $481,592
- Professional fundraising fees
- $0
- Legal fees
- $10,652
- Accounting fees
- $37,893
- Occupancy
- $145,579
- Travel
- $13,129
- Depreciation
- $528,292
- Program services (functional)
- $1,989,486
- Management and general (functional)
- $175,318
- Fundraising (functional)
- $160,917
Balance sheet and other
- Total assets, start of year
- $26,443,838
- Total assets, end of year
- $26,338,823
- Total liabilities, end of year
- $311,801
- Net assets, end of year
- $26,027,022
- Land, buildings and equipment
- $22,203,806
- Net assets without donor restrictions
- $22,250,122
- Net assets with donor restrictions
- $3,776,900
- Gross receipts
- $2,734,944
- Employees
- 10
- Volunteers
- 5
- Year formed
- 2021
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| James W Palermo retired | Executive Dir. Officer | 40 | $106,100 | $9,749 |
| Angie Fincannon | Executive Dir. Officer | 40 | $98,751 | $3,462 |
| Sharon Peters | Chairwoman Trustee or director, Officer | 2 | $0 | $0 |
| Doug Wood | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| Jeff Sebeika | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| Ben Eisbart | Vice Chairman Trustee or director, Officer | 2 | $0 | $0 |
| Mary Fink | Asst. Treasurer Trustee or director, Officer | 2 | $0 | $0 |
990 for the year ended December 31, 2024: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| James W Palermo | Executive Dir. Officer | 40 | $185,000 | $10,038 |
| Sharon Peters | Chairwoman Trustee or director, Officer | 2 | $0 | $0 |
| Doug Wood | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| Jeff Sebeika | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| Ben Eisbart | Vice Chairman Trustee or director, Officer | 2 | $0 | $0 |
| Mary Fink | Asst. Treasurer Trustee or director, Officer | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| James W Palermo | Executive Dir. Officer | 40 | $185,000 | $7,205 |
| Sharon Peters | Chairwoman Trustee or director, Officer | 1 | $0 | $0 |
| Ben Eisbart | Vice Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Doug Wood | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Jeff Sebeika | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Vicki James | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 234 PEARL ST, FORT WAYNE, IN 46802-1610
- In care of
- % ANDREW D BOXBERGER
- Principal officer (990 for 2025)
- Sharon Peters, 234 Pearl Street, Fort Wayne, IN 46802
- Signed the 990
- Doug Wood, Secretary
- Phone
- (260) 345-1979
- Website
- www.pearlarts.org
- Return prepared by
- Targeted Services PC
Mission
Pearl Arts, Inc. exists to serve Northeast Indiana as an interactive community arts, education, entrepreneurial, and engagement destination.
Program accomplishments
- Academy: Pearl Arts is a community-centered creative hub in Fort Wayne that empowers learners of all ages through inclusive, high-quality music education, hands-on creative workforce and entrepreneurship training, and performances that strengthen the regions cultural ecosystem. The Pearl Arts Music Academy is a quality program providing high-quality, inclusive music education to more than 570 students each week. Please see Schedule O for further information.Expenses $1,694,155 · grants $359,085 · revenue $553,861
- Innovation Institute: The Innovation Institute at Pearl Arts is a unique program where students learn how music, technology, and creative problem-solving connect. Launched as a pilot with Fort Wayne Community Schools and Amp Lab in spring 2025, the program quickly demonstrated strong demand and reached full capacity. In addition, students selected for the program may earn dual credit through two university partners: Indiana Institute of Technology (for entrepreneurship) and St. Francis University (for music technology). Employers across the region, including live event venues, production companies, worship centers, schools, and media organizations, consistently report shortages of trained technicians in areas such as live sound, recording, and digital production. These roles are essential to the regions expanding arts and entertainment economy and offer strong career pathways.Expenses $295,331
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-4101298
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A61)
- Assets (IRS master file)
- $26,338,823
- Income (IRS master file)
- $2,734,944
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $2,583,103 | $2,325,721 | $26,338,823 | XML |
| 990 | December 2024 | $13,329,224 | $884,049 | $26,443,838 | XML |
| 990 | December 2023 | $9,892,756 | $249,784 | $11,926,974 | XML |
| 990 | December 2022 | $1,351,618 | $201,949 | $1,266,488 | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-4101298).
Questions about PEARL ARTS INC
- What is the EIN of PEARL ARTS INC?
- The employer identification number (EIN) of PEARL ARTS INC is 87-4101298.
- Is PEARL ARTS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to PEARL ARTS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PEARL ARTS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PEARL ARTS INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PEARL ARTS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of PEARL ARTS INC?
- The 990 for the year ended December 31, 2025 names Sharon Peters.
- Who are the officers and directors of PEARL ARTS INC?
- The 990 for the year ended December 31, 2025 lists 7 people; 2 received compensation from the organization, the highest $106,100 (James W Palermo retired, Executive Dir.).
- How much revenue does PEARL ARTS INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $2,583,103, expenses of $2,325,721 and total assets of $26,338,823 at year end.
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All nonprofits in FORT WAYNE · Indiana · Arts, culture and humanities