Paristown Salon Inc
- Assets
- $439.1k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Louisville, KY
- Founding
- 02/2019
- Data as of
- 01/2024
- EIN
- 83-2399430
Organization Overview
Paristown Salon Inc is located in Louisville, KY. The organization was established in 2019. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 01/2024, Paristown Salon Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paristown Salon 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 01/2024, Paristown Salon Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 59.7% each year . All expenses for the organization totaled $1.4m during the year ending 01/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE SALON HAS A VISION OF URBAN LIFE THAT IS FUNDAMENTALLY POSITIVE. WE ARE DEDICATED TO PROMOTING SAFETY, TRUST AND CIVILITY IN SOCIAL AND PUBLIC SPACES TO FOSTER OPEN DIALOGUE, REGULAR INTERACTION, MUTUAL OWNERSHIP AND A SENSE OF COMMUNITY AMONG RESIDENTS, BUSINESS OWNERS AND VISITORS, WHICH PRODUCES A SENSE OF COLLECTIVE WELL-BEING AND AN ABUNDANT NEIGHBORHOOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOAL OF THE SALON IS TO PROVIDE SECURITY, MAINTENANCE AND HOST ART CENTRIC PERFORMANCES FOR THE BETTERMENT OF THE NEIGHBORHOOD.
FUNDING TO SUPPORT STUDENT FINANCIAL AID AND SCHOLARSHIPS, THUS ENABLING THOSE STUDENTS WHO ARE BOTH CAPABLE AND/OR HAVE FINANCIAL NEED TO RECEIVE A COLLEGE EDUCATION. THESE INCLUDE MERIT SCHOLARSHIPS AWARDED TO STUDENTS IN THE EASTERN KENTUCKY UNIVERSITY HONORS PROGRAM, AS WELL AS SCHOLARSHIPS FOR STUDENTS WHO HAVE DEMONSTRATED FINANCIAL NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Edward Glasscock Director | Trustee | 1 | $0 |
R James Straus Director | Trustee | 1 | $0 |
Howard Vogt Treasurer | OfficerTrustee | 1 | $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 | $649,876 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $649,876 |
| Total Program Service Revenue | $440,141 |
| Investment income | $0 |
| 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 | $1,090,017 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,871 |
| 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 | $146,489 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,087 |
| Fees for services: Management | $253,850 |
| Fees for services: Legal | $16,700 |
| Fees for services: Accounting | $9,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $562,334 |
| Advertising and promotion | $104,556 |
| Office expenses | $2,849 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,211 |
| Travel | $65 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $776 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,386 |
| Insurance | $17,734 |
| All other expenses | $0 |
| Total functional expenses | $1,447,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,100 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $348,850 |
| 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 | $0 |
| Net Land, buildings, and equipment | $66,568 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $625 |
| Total assets | $439,143 |
| Accounts payable and accrued expenses | $129,624 |
| 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 | $618,290 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $747,914 |
| Net assets without donor restrictions | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | -$308,771 |
| Total liabilities and net assets/fund balances | $439,143 |