Paramount Theatre For The Performing Arts Inc
- Assets
- $11.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 12/1975
- Data as of
- 09/2023
- 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 09/2023, Paramount Theatre For The Performing Arts Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $49.8k during the year ending 09/2023. While expenses have increased by 14.3% per year over the past 8 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
WE'RE HERE TO INSPIRE GENERATIONS. WE CONNECT PEOPLE AND STRENGTHEN COMMUNITY BY SHOWCASING UNFORGETTABLE PERFORMANCES ACROSS GENRES, PROVIDING LIFE-CHANGING ARTS EDUCATION PROGRAMS, AND DREAMING UP MAGICAL EXPERIENCES IN ICONIC VENUES THAT ANCHOR AND DEFINE DOWNTOWN AUSTIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORIGINALLY OPENED AS A VAUDEVILLE HOUSE IN 1915, THE HISTORIC PARAMOUNT THEATRE HAS BEEN A SECOND HOME FOR GENERATIONS OF AUSTINITES TO GATHER, CONNECT, AND GET INSPIRED. THE THEATRE IS STILL A CORNERSTONE OF THE AUSTIN ARTS SCENE TODAY. THIS ARCHITECTURAL TREASURE OFFERS STUNNING ORIGINAL FEATURES STILL INTACT AND IN USE, INCREDIBLE ACOUSTICS FOR LIVE PERFORMANCE, AND CAPABILITIES TO SCREEN FILMS IN DIGITAL, 70MM, AND 35MM. WHILE HUNDREDS OF SHOWS ARE PRESENTED HERE EVERY YEAR, THE THEATRE IS SO MUCH MORE THAN A VENUE. OVER 15,000 CENTRAL TEXAS STUDENTS VISIT THE THEATRE ANNUALLY THROUGH PARAMOUNT EDUCATION PROGRAMS; THE ATA PRODUCED MOONTOWER JUST FOR LAUGHS FESTIVAL IS HELD HERE EVERY APRIL, ONE OF THE LARGEST COMEDY FESTIVALS IN THE NATION; IT HOSTS THE STAR-STUDDED WORLD PREMIERES OF SXSW, AUSTIN FILM FESTIVAL, AND BEYOND; PROGRAMS THE SUMMER CLASSIC FILM SERIES, NOW IN ITS 49TH YEAR; PARTNERS WITH 100+ LOCAL ORGANIZATIONS TO REMOVE ECONOMIC BARRIERS TO ACCESSING THE ARTS THROUGH COMMUNITY PROGRAMS; AND WORKS WITH EXPERTS TO ENSURE THE CAREFUL PRESERVATION OF AUSTIN HISTORY. THE PARAMOUNT IS ONE OF ONLY 20 THEATRES LEFT IN THE COUNTRY OVER 100 YEARS OLD AND STILL IN USE AS A VENUE.
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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 | $159 |
| 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 | $1,677,314 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,677,473 |
| 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 | $49,765 |
| Total functional expenses | $49,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,917 |
| Savings and temporary cash investments | $0 |
| 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 | $30,402 |
| 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 | $10,710,393 |
| Total assets | $11,151,834 |
| Accounts payable and accrued expenses | $23,122 |
| 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 | $23,122 |
| Net assets without donor restrictions | $11,119,980 |
| Net assets with donor restrictions | $8,732 |
| 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 | $11,151,834 |