Waterbury, CT — As The Palace Theater continues its expansion plans and hosts major productions, some community members and local observers are raising questions about the nonprofit’s finances, accessibility, and overall role in the city.

According to publicly available financial filings, the theater reported revenues of approximately $6.8 million for the fiscal year ending June 2024 but ended the year with a slight operating deficit of $82,000. CEO Frank Tavera received a reported salary of more than $217,000 during that period, prompting discussions about executive compensation relative to the theater’s budget and financial performance.

Local voices have also expressed concerns that the theater’s programming may not fully reflect the diverse Waterbury community. Critics argue that events often cater to suburban or higher-income audiences, leaving questions about equitable access for city residents.

The theater is actively pursuing expansion plans, including the creation of a smaller “black-box” performance space and additional downtown amenities. While this growth promises new programming opportunities and potential economic benefits for the city, it also carries financial risks, particularly if revenue expectations from touring productions and local support are not met.

Palace officials maintain that the organization provides cultural and economic value to Waterbury and emphasize that executive compensation is determined through established governance processes and market comparisons.

As the theater grows, city residents, arts advocates, and local media will be watching closely to see how The Palace balances ambition, community inclusion, and fiscal responsibility.