Friends Of The Paragon Carousel Inc
- Assets
- $671.2k
- Revenue
- $484.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Hull, MA
- Founding
- 06/1996
- Data as of
- 12/2021
- EIN
- 04-3285979
Organization Overview
Friends Of The Paragon Carousel Inc is located in Hull, MA. The organization was established in 1996. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, 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. Friends Of The Paragon Carousel 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 12/2021, Friends Of The Paragon Carousel Inc generated $484.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $436.6k during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 4 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE CAROUSEL AT ITS CURRENT LOCATION AND RESTORE IT TO ITS ORIGINAL BEAUTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF HISTORIC PARAGON CAROUSEL & ADJUSTMENT MUSEUM SHOP. THE CAROUSEL HAS BEEN OPERATING ALONG THE SHORES OF BEAUTIFUL NANTASKET BEACH FOR MORE THAN 80 YEARS. BUILT IN 1928 BY THE PHILADELPHIA TOBOGGAN COMPANY, IT BOASTS FOUR ROWS OF 66 INTRICATELY CARVED HORSES & TWO RARE ROMAN CHARIOTS. IT IS DECORATED WITH 35 ORIGINAL PAINTINGS, 36 CHERUBS & 18 GODDESSES WHO LOOK DOWN WHILE A WURLITZER BANK ORGAN FILLS THE AIR WITH MUSIC. ONE OF FEWER THAN 100 "GRAND" CAROUSELS REMAINING IN THE U.S. TODAY, THE PARAGON CAROUSEL TOUCHES THE HEART, SPARKS THE IMAGINATIONS & IGNITES THE CREATIVE SPIRITS OF ALL WHO VISIT IT. THE PARAGON CAROUSEL IS THE LAST REMAINING ATTRACTION FROM THE BELOVED PARAGON PARK AMUSEMENT PARK ON NANTASKET BEACH THAT CLOSED IN 1985. THE ANTIQUE AMUSEMENT IS A LASTING (CONTINUED ON SCHEDULE O... ) REMINDER OF THE "GOLDEN AGE" OF HULL, MA, WHEN THE TOWN WAS TEEMING WITH THOUSANDS OF VISITORS EACH DAY IN THE SUMMER FOR DECADES. THE CAROUSEL NOW ATTRACTS UPWARDS OF 100,000 VISITORS EACH SUMMER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marge West President | OfficerTrustee | 25 | $0 |
Jason Mccann Vice President | OfficerTrustee | 5 | $0 |
Bob Foster Treasurer | OfficerTrustee | 10 | $0 |
Christopher Lofgren Clerk | OfficerTrustee | 5 | $0 |
Nicky Preble Director | Trustee | 2 | $0 |
Theresa Brady Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,446 |
| Investment income | $45 |
| 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 | $152,181 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $484,932 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $171,448 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,690 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,011 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,698 |
| Office expenses | $13,400 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,910 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,117 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,114 |
| Insurance | $28,862 |
| All other expenses | $0 |
| Total functional expenses | $436,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,340 |
| Savings and temporary cash investments | $66,467 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $12,179 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $671,153 |
| Accounts payable and accrued expenses | $13,990 |
| 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 | $82,214 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $96,204 |
| Net assets without donor restrictions | $574,949 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $574,949 |