The Paramount Foundation
- Assets
- $2.2m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Bristol, TN
- Founding
- 08/1989
- Data as of
- 06/2022
- EIN
- 58-1837080
Organization Overview
The Paramount Foundation is located in Bristol, TN. The organization was established in 1989. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Paramount Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paramount Foundation 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 06/2022, Paramount Foundation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.7% each year . All expenses for the organization totaled $2.3m during the year ending 06/2022. While expenses have increased by 19.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVATION AND RESTORATION OF THE PARAMOUNT THEATER,WHICH IS ON THE NATIONAL REGISTER OF HISTORIC PLACES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ARTISTIC AND MUSICAL PERFORMANCES TO THE GENERAL PUBLIC TO ENHANCE AND EXPAND THE APPRECIATION OF THE ARTSIN THE BRISTOL AND SURROUNDING REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Hayes Executive Director | OfficerTrustee | 40 | $79,649 |
Scott Peak Treasurer | OfficerTrustee | 5 | $0 |
Barbara Smith Secretary | OfficerTrustee | 5 | $0 |
David Grace Vice President | OfficerTrustee | 5 | $0 |
Logan Mccabe Director | Trustee | 5 | $0 |
Matthew Riggins Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,176,047 |
| All other contributions, gifts, grants, and similar amounts not included above | $410,130 |
| Noncash contributions included in lines 1a–1f | $870 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,586,177 |
| Total Program Service Revenue | $1,676,945 |
| Investment income | $2,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,150 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,301,489 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,647 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,806 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,797 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $147 |
| Advertising and promotion | $105,527 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $139,165 |
| Travel | $3,726 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,087 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $156,603 |
| Insurance | $24,659 |
| All other expenses | $0 |
| Total functional expenses | $2,303,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,918 |
| Savings and temporary cash investments | $809,154 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $274 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,583 |
| Prepaid expenses and deferred charges | $2,690 |
| Net Land, buildings, and equipment | $1,298,138 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,156,757 |
| Accounts payable and accrued expenses | $48,310 |
| Grants payable | $0 |
| Deferred revenue | $90,632 |
| 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 | $413,805 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $552,747 |
| Net assets without donor restrictions | $1,528,265 |
| Net assets with donor restrictions | $75,745 |
| 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 | $2,156,757 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Paramount Foundation has recieved totaling $43,692.
| Awarding Organization | Amount |
|---|---|
Mcglothlin Foundation Bristol, VA PURPOSE: UPDATE STAGE AREA ELECTRICAL AND OFFICE AREA | $35,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,673 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $19 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Louis Development Coroporation St Louis, MO | $13,684,401 | $12,294,204 |
National Association Of Free And Charitable Clinics Inc Alexandria, VA | $2,287,397 | $8,345,135 |
Nc State University Partnership Corporation Raleigh, NC | $25,242,757 | $8,028,550 |
Partnership For Families Children And Adults Inc Chattanooga, TN | $6,989,101 | $6,359,837 |
Fair Count Inc Atlanta, GA | $4,514,857 | $4,335,269 |
Tennessee Coalition To End Domestic And Sexual Violence Nashville, TN | $1,243,708 | $2,876,660 |
Community Partnership Of Southeast Missouri Cape Girardeau, MO | $3,661,561 | $3,545,590 |
The Paramount Foundation Bristol, TN | $2,156,757 | $3,301,489 |
International Coalition Of Girls Schools Inc Charlottesville, VA | $2,882,248 | $1,769,903 |
Pro Inspire Arlington, VA | $4,565,993 | $4,997,506 |
North Carolina Center For Non Profit Organizations Inc Raleigh, NC | $2,108,648 | $2,007,957 |
Trans-National Association Of Christian Schools Forest, VA | $1,773,355 | $1,550,845 |