Paramount Center INC EIN 22-2528303 Form 990 (PDF) Claim this org

Paramount Center INC FY2021 filing

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Presents diverse theatrical performances and offers its venue for community arts education. For fiscal year 2021 it reported $1.0M in revenue, $827K in expenses, and $2.8M in net assets.Pt I

Founded
1984
Type
Public charity (501(c)(3)) · Nonprofit
Location
Rutland, VT
Website
paramountvt.org
Filings
5 on file (2020–2021)
Revenue
$1.0MFY2021
Expenses
$827K
Net assets
$2.8M
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  22-2528303 Public charity (501(c)(3)) Rutland, VT Founded 1984
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 8/30/26 · see original: IRS
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Size
$1–10M
What they do
Presents diverse theatrical performances and offers its venue for community arts education.
Leadership
Eric Mallette · Executive Dir. · $68K
Money in and out
$1.0M revenue, $827K expenses
Bottom line
86% program efficiency
Where the money goes · FY2021
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$827K
Pt IX · Ln 25
Net assets
$2.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $221K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.12 Fundraising $0.02
Program efficiency
86%
of spending reaches programs
Operating runway
17.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+21%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$1.0M
FY2021▼ -43%
Expenses
$827K
FY2021▼ -48%
Total assets
$3.2M
FY2021▲ +14%
Total liabilities
$421K
FY2021▲ +70%
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$827K
Pt IX · Ln 25
Net assets
$2.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$221K
Total assetsPt X · Ln 16$3.2M
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CParamount Center INC
EINHdr · item D22-2528303
Principal addressHdr · item CRutland, VT
WebsiteHdr · item Jparamountvt.org
Year of formationHdr · item L1984
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJul 1994

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Dir.
$67,783Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Bruce Bouchard Until 122020$130,860
Eric Mallette$123,734$112,672$102,790$67,783
Eric Mallette 21$88,138

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $710K of program spending, described in the organization's own filed words · FY2020.
01

Operated a community based performing arts center through production of a wide variety of theatrical performances and provided the theatre facility for use by other community organizations to provide education and increased exposure to the performing arts.

$710Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$975K · 93%
Program service revenue$113K · 11%
Contributions & grants93%$975K
Program service revenue11%$113K
Investment income$3K
— government grantsLn 1e$222K
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.12 Fundraising $0.02
Program services86%$710K
Management & general12%$100K
Fundraising2%$17K
Total functional expensesLn 25$827K

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$3.2M
Total liabilitiesLn 26$421K
Total net assetsLn 32$2.8M
Months of cash on handcomputed16.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1M · Operating expenses (Pt IX) $827K · Less non-cash grants $71K · Cash operating expenses/yr $756K
17.9 months
Where the money goes
Program services
Program services $710K · Total expenses $827K
86%
Management & General
Management & general $100K · Total expenses $827K
12%
Fundraising
Fundraising $17K · Total expenses $827K
2%
Cost to raise $1
Fundraising expense (2-yr avg) $25K · Solicited contributions (2-yr avg) $593K
$0.04 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $975K · Total revenue $1.0M
93%
Government reliance
Government grants $222K · Total revenue $1.0M
21%
Earned-income share
Program service revenue $113K · Total revenue $1.0M
11%
Investment reliance
Investment income $3K · Total revenue $1.0M
+0.3%
Program self-sufficiency
Program service revenue $113K · Total expenses $827K
14%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $1.9M
-43%
Net-asset trend (YoY)
End of year $2.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $827K
+21%
Liabilities-to-Assets
Total liabilities — · Total assets $3.2M
Net-asset ratio
Net assets $2.8M · Total assets $3.2M
87%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $3.2M
0%
People & payroll
Highest Reported Total Compensation
Individual Eric Mallette · Reported title Executive Dir. · Highest reported compensation $68K · Total expenses $827K
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $234K · Total expenses $827K
28%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 12%
Fundraising cost ratio 2%
Revenue growth -43%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0.2%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$2.7M revenue · ⤓ 990 PDF
FY2023$2.0M revenue · ⤓ 990 PDF
FY2022$2.6M revenue · ⤓ 990 PDF
FY2021$1.0M revenue · viewing · ⤓ 990 PDF
FY2020$1.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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