Historic Paramount Theatre Inc
- Assets
- $870.0k
- Revenue
- $973.0k
- Investments
- $0.0
- Employees
- 55
- Location
- Abilene, TX
- Founding
- 06/2003
- Data as of
- 03/2022
- EIN
- 06-1672774
Organization Overview
Historic Paramount Theatre Inc is located in Abilene, TX. The organization was established in 2003. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 03/2022, Historic Paramount Theatre Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Paramount Theatre 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 03/2022, Historic Paramount Theatre Inc generated $973.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $751.1k during the year ending 03/2022. While expenses have increased by 6.3% 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
THE MISSION IS TO MANAGE AND PRESERVE THE HISTORIC PARAMOUNT THEATRE SO THAT IT MIGHT BENEFIT THE CITIZENS OF ABILENE AND THE SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGE AND PRESERVE THE HISTORIC PARAMOUNT THEATRE SO THAT IT MIGHT
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Levesque Ex Director | 40 | $86,088 | |
M Mercer Chair | OfficerTrustee | 2 | $0 |
L Doty Chair Elect | OfficerTrustee | 1 | $0 |
J Duncan Treasurer | OfficerTrustee | 2 | $0 |
O Ortiz Secretary | OfficerTrustee | 2 | $0 |
S Lamb Past Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $183,505 |
| All other contributions, gifts, grants, and similar amounts not included above | $499,740 |
| Noncash contributions included in lines 1a–1f | $7,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $683,245 |
| Total Program Service Revenue | $288,641 |
| Investment income | $143 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $972,991 |
| 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. | $91,637 |
| Compensation of current officers, directors, key employees. | $13,746 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $244,715 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $80,916 |
| Payroll taxes | $26,179 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,624 |
| 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 | $1,670 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,228 |
| 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 | $32,206 |
| Insurance | $12,359 |
| All other expenses | $0 |
| Total functional expenses | $751,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $346,734 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,305 |
| 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 | $54,168 |
| Net Land, buildings, and equipment | $255,304 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $203,470 |
| Total assets | $869,981 |
| Accounts payable and accrued expenses | $5,331 |
| Grants payable | $0 |
| Deferred revenue | $15,626 |
| 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 | $20,957 |
| Net assets without donor restrictions | $561,004 |
| Net assets with donor restrictions | $288,020 |
| 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 | $869,981 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Historic Paramount Theatre Inc has recieved totaling $59,796.
| Awarding Organization | Amount |
|---|---|
The Robison Excelsior Foundation Abilene, TX PURPOSE: CHARITABLE | $35,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $19,796 |
Guitar Family Foundation Abilene, TX PURPOSE: FILM SERIES SPONSORSHIP | $4,000 |
Barber Foundation Abilene, TX PURPOSE: SUPPORT FOR OPERATIONS | $1,000 |
Endowment Analysis
| Beg. Balance | $146,079 |
| Earnings | $3,970 |
| Admin Expense | $1,729 |
| Net Contributions | $55,150 |
| Ending Balance | $203,470 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alley Theatre Houston, TX | $99,755,068 | $20,544,932 |
Austin Theatre Alliance Austin, TX | $11,051,816 | $12,251,946 |
Theatre Squared Inc Fayetteville, AR | $37,817,681 | $7,945,309 |
Dallas Theater Center Dallas, TX | $4,686,048 | $4,047,540 |
Theatre Under The Stars Inc Houston, TX | $18,210,122 | $4,859,811 |
Zachary Scott Theater Center Austin, TX | $13,760,280 | $6,657,993 |
A D Players Houston, TX | $31,582,319 | $3,073,769 |
Creative Action Austin, TX | $3,479,965 | $2,986,946 |
Plano Childrens Theatre Plano, TX | $1,873,883 | $3,548,642 |
Main Street Theater Houston Houston, TX | $3,176,471 | $2,765,553 |
Lyric Theatre Of Oklahoma Inc Oklahoma City, OK | $13,499,880 | $4,030,124 |
International Alliance Theatrical Stage Employees & Moving Picture New Orleans, LA | $12,003,795 | $3,171,295 |