Paramount Theatre For The Performing Arts Inc
- Assets
- $8.5m
- Revenue
- $373.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 12/1975
- Data as of
- 09/2021
- EIN
- 74-1774711
Organization Overview
Paramount Theatre For The Performing Arts Inc is located in Austin, TX. The organization was established in 1975. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paramount Theatre For The Performing Arts 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 09/2021, Paramount Theatre For The Performing Arts Inc generated $373.9k 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 (6.6%) each year. All expenses for the organization totaled $16.7k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) 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
INSPIRED BY THE POWER OF THE ARTS TO CHANGE LIVES, THE AUSTIN THEATRE ALLIANCE STRIVES TO ENGAGE ALL CENTRAL TEXANS THROUGH EXTRAORDINARY LIVE PERFORMANCES AND FILMS; TO IGNITE THE INTELLECT AND IMAGINATION OF OUR YOUTH; AND TO ENSURE THE PRESERVATION OF THE HISTORIC PARAMOUNT AND STATESIDE THEATRES, THE CROWN JEWELS OF AUSTIN, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE THEATRE AND PERFORMING ARTS AND SALES OF CONCESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hal Katz President | OfficerTrustee | 1 | $0 |
Sharon Francia Secretary | OfficerTrustee | 1 | $0 |
Bob Ellis Treasurer | OfficerTrustee | 1 | $0 |
H James Ritts III Executive Director | OfficerTrustee | 5 | $0 |
Sandra Hill Chief Financial Officer | Officer | 5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $371,941 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $373,918 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $16,748 |
| Total functional expenses | $16,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $384,489 |
| Savings and temporary cash investments | $5,604 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $26,939 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $360,122 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,731,672 |
| Total assets | $8,508,826 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $8,500,011 |
| Net assets with donor restrictions | $8,815 |
| 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 | $8,508,826 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Paramount Theatre For The Performing Arts Inc has recieved totaling $165,850.
| Awarding Organization | Amount |
|---|---|
Austin Community Foundation Austin, TX PURPOSE: GENERAL DONATION FOR HELP DURING PANDEMIC | $138,750 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $27,100 |
Endowment Analysis
| Beg. Balance | $6,921 |
| Earnings | $1,977 |
| Admin Expense | $83 |
| Ending Balance | $8,815 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Austin Performing Arts Center Austin, TX | $60,832,333 | $4,600,967 |
Oklahoma Contemporary Arts Center Inc Oklahoma City, OK | $30,073,274 | $4,620,457 |
Stages Houston, TX | $35,203,862 | $5,949,704 |
Lubbock Entertainment And Performing Arts Association Lubbock, TX | $190,146,565 | $3,966,271 |
Tulsa Performing Arts Center Trust Tulsa, OK | $9,008,592 | $6,495,113 |
Contemporary Arts Center New Orleans, LA | $8,950,916 | $2,836,743 |
Preservation Hall Foundation Inc New Orleans, LA | $2,657,700 | $2,671,447 |
El Dorado Festivals & Events Inc El Dorado, AR | $56,070,172 | $5,007,919 |
Georgetown Palace Theatre Inc Georgetown, TX | $7,443,591 | $5,634,871 |
Sammons Center For The Arts Dallas, TX | $1,480,385 | $820,044 |
Outpost Productions Inc Albuquerque, NM | $1,676,831 | $1,136,124 |
Brandon House Cultural & Performing Arts Center Little Rock, AR | $450,081 | $774,145 |