Paramount Arts Center Inc
- Assets
- $6.5m
- Revenue
- $856.0k
- Investments
- $0.0
- Employees
- 11
- Location
- Ashland, KY
- Founding
- 12/1990
- Data as of
- 06/2021
- EIN
- 61-1181883
Organization Overview
Paramount Arts Center Inc is located in Ashland, KY. The organization was established in 1990. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2021, Paramount Arts Center Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paramount Arts Center 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 06/2021, Paramount Arts Center Inc generated $856.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PARAMOUNT ARTS CENTER, INC. MAINTAINS AND OPERATIONS A PERFORMING ARTS THEATER TO PROVIDE FOR, PROMOTE AND ENCOURAGE APPRECIATION, PARTICIPATION AND EDUCATION IN THE FINE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PARAMOUNT ARTS CENTER, INC. MAINTAINS AND OPERATIONS A PERFORMING ARTS THEATER TO PROVIDE FOR, PROMOTE AND ENCOURAGE APPRECIATION, PARTICIPATION AND EDUCATION IN THE FINE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Clark Director | Trustee | $0 | |
Jason Camp Director | Trustee | $0 | |
Rannie Cooper Director | Trustee | $0 | |
Tamme Grubb Director | Trustee | $0 | |
Sydney Keeton Director | Trustee | $0 | |
Lloyd Hudson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $86,543 |
| Government grants | $204,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $399,458 |
| Total Program Service Revenue | $341,346 |
| Investment income | $11,479 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,136 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $64,550 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $855,969 |
| 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 | $311,308 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,497 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,018 |
| Advertising and promotion | $26,055 |
| Office expenses | $17,417 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $77,122 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,422 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $266,743 |
| Insurance | $56,999 |
| All other expenses | $60,027 |
| Total functional expenses | $1,433,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $436,058 |
| Savings and temporary cash investments | $25,820 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,815 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,090 |
| Prepaid expenses and deferred charges | $179,047 |
| Net Land, buildings, and equipment | $5,458,939 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $47,675 |
| Other assets | $320,316 |
| Total assets | $6,501,760 |
| Accounts payable and accrued expenses | $93,583 |
| Grants payable | $0 |
| Deferred revenue | $720,189 |
| 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 | $1,703,385 |
| Total liabilities | $2,517,157 |
| Net assets without donor restrictions | $3,633,542 |
| Net assets with donor restrictions | $351,061 |
| 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 | $6,501,760 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Paramount Arts Center Inc has recieved totaling $9,447.
| Awarding Organization | Amount |
|---|---|
Foundation For The Tri-State Community Inc Ashland, KY | | $9,425 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Endowment Analysis
| Beg. Balance | $325,657 |
| Earnings | $81,390 |
| Net Contributions | $34 |
| Other Expense | $81,840 |
| Ending Balance | $325,241 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Applewood Centers Inc Shaker Heights, OH | $31,325,035 | $19,367,243 |
Yum Brands Foundation Inc Louisville, KY | $62,047,633 | $1,353,894 |
Truth For Life Solon, OH | $28,565,821 | $20,814,256 |
Girl Scouts Of Eastern Missouri Inc St Louis, MO | $41,876,901 | $17,676,549 |
Zakat Foundation Of America Worth, IL | $10,176,762 | $13,348,196 |
Mvle Inc Springfield, VA | $9,312,046 | $13,677,162 |
Valley Health Care Inc Mill Creek, WV | $12,122,859 | $14,871,772 |
Potomac Institute For Policy Studies Arlington, VA | $5,742,038 | $10,808,828 |
The Daily Planet Inc Richmond, VA | $12,184,739 | $13,097,113 |
National Association Of Landscape Professionals Inc Fairfax, VA | $7,212,406 | $10,869,487 |
Rose Brooks Center Inc Kansas City, MO | $20,126,633 | $9,910,378 |
Mareda Inc Toledo, OH | $0 | $769,242 |