Historic Paramount Theatre Inc
- Assets
- $1.2m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 60
- Location
- Abilene, TX
- Founding
- 06/2003
- Data as of
- 03/2023
- EIN
- 06-1672774
Organization Overview
Historic Paramount Theatre Inc is located in Abilene, TX. The organization was established in 2003. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 03/2023, Historic Paramount Theatre Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Paramount Theatre Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Historic Paramount Theatre Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $1.1m during the year ending 03/2023. While expenses have increased by 12.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION IS TO MANAGE AND PRESERVE THE HISTORIC PARAMOUNT THEATRE SO THAT IT MIGHT BENEFIT THE CITIZENS OF ABILENE AND THE SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGE AND PRESERVE THE HISTORIC PARAMOUNT THEATRE SO THAT IT MIGHT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L Doty Chair | OfficerTrustee | 2 | $0 |
J Duncan Chair Elect | OfficerTrustee | 1 | $0 |
S Stovall Treasurer | OfficerTrustee | 2 | $0 |
S Harper Secretary | OfficerTrustee | 2 | $0 |
M Mercer Past Chair | OfficerTrustee | 1 | $0 |
T Graves Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $569,153 |
| Noncash contributions included in lines 1a–1f | $1,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $569,153 |
| Total Program Service Revenue | $765,976 |
| Investment income | $1,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,927 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,349,962 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,728 |
| Compensation of current officers, directors, key employees. | $15,709 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $312,221 |
| Pension plan accruals and contributions | $19,689 |
| Other employee benefits | $66,742 |
| Payroll taxes | $32,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,227 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,670 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,265 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,928 |
| Insurance | $13,795 |
| All other expenses | $0 |
| Total functional expenses | $1,099,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,337 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,390 |
| Net Land, buildings, and equipment | $490,961 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $240,764 |
| Total assets | $1,183,954 |
| Accounts payable and accrued expenses | $7,609 |
| Grants payable | $0 |
| Deferred revenue | $62,272 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,064 |
| Total liabilities | $91,945 |
| Net assets without donor restrictions | $801,949 |
| Net assets with donor restrictions | $290,060 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,183,954 |