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Paramount Heritage Foundation INC

Tax-deductible

Anderson, IN501(c)(3)Arts & CultureEIN 35-1774217

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Promotion of the arts and entertainment through the restoration and operation of a historical theatre. Also, to provide facilities for literary, educational, cultural and charitable organizations to conduct theatrical presentations of various theatre troups, dance companies, well known orchestras, musical ensembles and other forms of artistic entertainment to promote the awareness and appreciation for such endeavors throughout the community as a whole. To further promote and encourage such organizations and to raise funds for the support and maintenance of such facilities, other organizations and their activities for the benefit of the public.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 11 volunteers and 12 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
5 of 5
filings with a surplus
Average surplus $158K a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$85K
to officers and key staff · 9% of spending
Top officer’s pay lower than 79% of similar orgs
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $17K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$331K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+14% vs prior year
Spent
$945K
To programs
100%
Net assets
$2.4M
By yearFY2021–FY2025
Revenue
$1.1M
FY2025▲ +14%
Revenue by fiscal year
FY2021$580K
FY2022$813K
FY2023$1.1M
FY2024$963K
FY2025$1.1M
Expenses
$945K
FY2025▲ +14%
Expenses by fiscal year
FY2021$493K
FY2022$745K
FY2023$747K
FY2024$831K
FY2025$945K
Net assets
$2.4M
FY2025▲ +4%
Net assets by fiscal year
FY2021$1.7M
FY2022$1.8M
FY2023$2.2M
FY2024$2.4M
FY2025$2.4M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1989.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $945K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990; $85K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Richard M Jorn
Executive Director
$85,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Pete Heuer
Director
$0Pt VII · Sec A
Darla Sallee
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jane Loose
Director
$0Pt VII · Sec A

Richard M Jorn’s $85K as Executive Director is at the 21st percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Paramount Heritage Foundation INC executive salaries →

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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

Restores and operates a historic theatre, hosting diverse arts and educational events for community enrichment.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2024.
01

Promotion and broadcasting to the public, knowledge, appreciation, practice and performance of entertainment and the arts through the restoration and operation of an historical theatre.

Pt IX · col B

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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 · FY2025
Madison County Community Foundation INCFY2025$17K
Total grants receivedfrom 1 funder$17K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$481K
Gifts and grantsLn 1h$479K
Other incomeLn 4–11$140K
Money outPt IX
$945K
Ln 25
Programscol B$945K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$584K
Total assetsLn 16$2.8M
LiabilitiesLn 26$331K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$479K
Government grantsLn 1e$88K
Fees for servicesLn 2g$481K
Other incomeLn 4–11$140K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$584K
Cash and savings togetherLn 1–2$584K
InvestmentsLn 11–13$176K
Land, buildings, equipmentLn 10c$1.8M
Other assetsLn 15$222K
Total assetsLn 16$2.8M
LiabilitiesLn 26$331K
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 512
VolunteersI 611
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$851K$584K
InvestmentsLn 11–13$243K$176K
Land, buildings, equipmentLn 10c$1.4M$1.8M
Total assetsLn 16$2.7M$2.8M
LiabilitiesLn 26$329K$331K
Net assetsLn 32$2.4M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$402K$402K
Other employee benefitsLn 9$11K$11K
Payroll taxesLn 10$34K$34K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$168$168
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$5K$5K
OccupancyLn 16$139K$139K
TravelLn 17$7K$7K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$157K$157K
Other expenses (24a–d)Ln 24$127K$127K
All other expensesLn 24e$46K$46K
Total functional expensesLn 25$945K$945K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.1M$945K$155K$2.4M 990 PDF
FY2024 $963K$831K$132K$2.4M 990 PDF
FY2023 $1.1M$747K$349K$2.2M 990 PDF
FY2022 $813K$745K$68K$1.8M 990 PDF
FY2021 $580K$493K$87K$1.7M 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $1,100,322 across 6 lines filed
Lines not itemized here account for $153 of total revenue; see the IRS return.
VIII-1e Government grants$88,160
VIII-1f All other contributions, gifts and grants$390,872
VIII-1h Total contributions, gifts and grants$479,032
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $480,974$480,974
VIII-8 Net income from fundraising eventsExcluded from tax $140,163$140,163
VIII-12 Total revenueRelated to mission $481,127 · Unrelated business $0 · Excluded from tax $140,163$1,100,322
Part IX · Statement of functional expenses $945,345 across 13 lines filed
IX-7 Other salaries and wagesPrograms $402,181$402,181
IX-9 Other employee benefitsPrograms $11,229$11,229
IX-10 Payroll taxesPrograms $33,869$33,869
IX-11c Accounting feesPrograms $7,600$7,600
IX-11g Other fees for servicesPrograms $168$168
IX-12 Advertising and promotionPrograms $6,260$6,260
IX-13 Office expensesPrograms $4,693$4,693
IX-16 OccupancyPrograms $139,330$139,330
IX-17 TravelPrograms $7,457$7,457
IX-20 InterestPrograms $3,355$3,355
IX-22 Depreciation, depletion and amortizationPrograms $156,993$156,993
IX-24 Other expenses (24a–d)Programs $126,673$126,673
IX-24e All other expensesPrograms $45,537$45,537
IX-25 Total functional expensesPrograms $945,345 · Management $0 · Fundraising $0$945,345
Part X · Balance sheet $2,772,094 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $851,424$584,132
X-4 Accounts receivableStart of year $28,480$20,968
X-9 Prepaid expenses and deferred chargesStart of year −$10,696−$9,882
X-10c Land, buildings and equipment, netStart of year $1,389,739$1,778,501
X-12 Other securitiesStart of year $243,366$176,132
X-15 Other assetsStart of year $182,382$222,243
X-16 Total assetsStart of year $2,684,695$2,772,094
X-17 Accounts payable and accrued expensesStart of year $14,557−$2,636
X-19 Deferred revenueStart of year $182,382$222,243
X-26 Total liabilitiesStart of year $329,121$331,144
X-27 Net assets without donor restrictionsStart of year $1,886,341$2,038,950
X-28 Net assets with donor restrictionsStart of year $469,233$402,000
X-32 Total net assets or fund balancesStart of year $2,355,574$2,440,950
X-33 Total liabilities and net assetsStart of year $2,684,695$2,772,094
Part XI · Reconciliation of net assets $2,440,950 net assets at year end
XI-1 Total revenue$1,100,322
XI-2 Total expenses$945,345
XI-3 Revenue less expenses$154,977
XI-4 Net assets at start of year$2,355,574
XI-9 Other changes in net assets−$69,601
XI-10 Net assets at end of year$2,440,950

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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