Paramount Center INC FY2022 filing

Tax-deductible

Rutland, VT501(c)(3)Since 1984EIN 22-2528303Revenue $2.6M in FY2022

On file with the IRSparamountvt.org30 Center St, 05701-4015 · Rutland, VTTax-exempt since Jul 1994Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$88K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $530K a year · 24% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$88K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
20 mo
of spending, in cash
Looks good: 19.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $81K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$314K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
+151% vs prior year
Spent
$1.4M
To programs
74%
Net assets
$4.0M
By yearFY2020–FY2025
Revenue
$2.6M
FY2022▲ +151%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$1.0M
FY2022$2.6M
FY2023$2.0M
FY2024$2.7M
FY2025$3.0M
Expenses
$1.4M
FY2022▲ +71%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$827K
FY2022$1.4M
FY2023$1.8M
FY2024$2.3M
FY2025$2.1M
Net assets
$4.0M
FY2022▲ +45%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$2.8M
FY2022$4.0M
FY2023$4.2M
FY2024$4.6M
FY2025$5.4M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $1.0M Management & general 23% · $326K Fundraising 3% · $41K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990; $88K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Dir.
$88,138Pt 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Presents diverse theatrical performances and offers its venue for community arts education.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2021
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.

$1.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

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

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$2.6M
Ln 12
Gifts and grantsLn 1h$1.7M
Fees for servicesLn 2g$921K
Other incomeLn 4–11$38K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.0M
Managementcol C$326K
Fundraisingcol D$41K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$4.4M
LiabilitiesLn 26$314K
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Government grantsLn 1e$952K
Noncash giftsLn 1g$1K
Fees for servicesLn 2g$921K
Investment incomeLn 3$8K
Other incomeLn 4–11$38K
Gains on assetsLn 7$0
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$2.3M
SavingsLn 2$0
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$27K
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$0
Total assetsLn 16$4.4M
LiabilitiesLn 26$314K
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 534
VolunteersI 6120
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.1M$2.3M
InvestmentsLn 11–13$27K
Land, buildings, equipmentLn 10c$2.1M$1.9M
Total assetsLn 16$3.2M$4.4M
LiabilitiesLn 26$421K$314K
Net assetsLn 32$2.8M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$88K$66K$22K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$170K$128K$43K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$9K$7K$2K
Payroll taxesLn 10$21K$16K$5K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$16K$12K$4K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$10K$8K$3K
Advertising and promotionLn 12$0
Office expensesLn 13$5K$4K$1K
Information technologyLn 14$6K$5K$2K
RoyaltiesLn 15$0
OccupancyLn 16$60K$45K$15K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$2K$1K$440
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$151K$114K$38K
InsuranceLn 23$26K$19K$6K
Other expenses (24a–d)Ln 24$839K$615K$205K$19K
All other expensesLn 24e$6K$5K$2K
Total functional expensesLn 25$1.4M$1.0M$326K$41K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.0M$2.1M$920K$5.4M 990 PDF
FY2024 $2.7M$2.3M$366K$4.6M 990 PDF
FY2023 $2.0M$1.8M$182K$4.2M 990 PDF
FY2022 Viewing $2.6M$1.4M$1.2M$4.0M 990 PDF
FY2021 $1.0M$827K$221K$2.8M 990 PDF
FY2020 $1.9M$1.6M$266K$2.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $2,634,651 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $834,141$1,667,534
I-9 Program service revenuePrior year $112,502$921,193
I-10 Investment incomePrior year $3,072$8,086
I-11 Other revenuePrior year $98,562$37,838
I-12 Total revenuePrior year $1,048,277$2,634,651
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $234,067$288,574
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $592,966$1,121,999
I-18 Total expensesPrior year $827,033$1,410,573
I-19 Revenue less expensesPrior year $221,244$1,224,078
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,634,651 across 12 lines filed
VIII-1b Membership dues$115,636
VIII-1e Government grants$951,585
VIII-1f All other contributions, gifts and grants$600,313
VIII-1g Noncash contributions (included above)$1,379
VIII-1h Total contributions, gifts and grants$1,667,534
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $921,193$921,193
VIII-3 Investment incomeRelated to mission $8,086$8,086
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax $37,838$37,838
VIII-12 Total revenueRelated to mission $8,086 · Excluded from tax $959,031$2,634,651
Part IX · Statement of functional expenses $1,410,573 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $66,104 · Fundraising $22,034$88,138
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $127,713 · Management $42,571$170,284
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $6,831 · Management $2,277$9,108
IX-10 Payroll taxesPrograms $15,783 · Management $5,261$21,044
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $12,098 · Management $4,032$16,130
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $7,640 · Management $2,545$10,185
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $3,540 · Management $1,180$4,720
IX-14 Information technologyPrograms $4,722 · Management $1,574$6,296
IX-15 Royalties$0
IX-16 OccupancyPrograms $45,326 · Management $15,109$60,435
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $1,321 · Management $440$1,761
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $113,547 · Management $37,849$151,396
IX-23 InsurancePrograms $19,433 · Management $6,477$25,910
IX-24 Other expenses (24a–d)Programs $614,569 · Management $204,855 · Fundraising $19,419$838,843
IX-24e All other expensesPrograms $4,743 · Management $1,580$6,323
IX-25 Total functional expensesPrograms $1,043,370 · Management $325,750 · Fundraising $41,453$1,410,573
Part X · Balance sheet $4,350,370 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $1,125,644$2,313,721
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$6,000
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $6,051$72,750
X-10c Land, buildings and equipment, netStart of year $2,074,693$1,930,859
X-11 Publicly traded securities$27,040
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $1,500$0
X-16 Total assetsStart of year $3,207,888$4,350,370
X-25 Other liabilitiesStart of year $265,387$251,345
X-26 Total liabilitiesStart of year $420,711$313,618
X-27 Net assets without donor restrictionsStart of year $2,621,186$3,885,761
X-28 Net assets with donor restrictionsStart of year $165,991$150,991
X-32 Total net assets or fund balancesStart of year $2,787,177$4,036,752
X-33 Total liabilities and net assetsStart of year $3,207,888$4,350,370
Part XI · Reconciliation of net assets $4,036,752 net assets at year end
XI-1 Total revenue$2,634,651
XI-2 Total expenses$1,410,573
XI-3 Revenue less expenses$1,224,078
XI-4 Net assets at start of year$2,787,177
XI-5 Net unrealized gains (losses) on investments−$119
XI-8 Prior period adjustments$25,616
XI-10 Net assets at end of year$4,036,752

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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