Paramount Hudson Valley Arts FY2019 filing

Tax-deductible

Peekskill, NY501(c)(3)Arts & CultureEIN 46-4031449Revenue $873K in FY2019

On file with the IRSparamounthudsonvalleyarts.org1008 Brown St, 10566-3606 · Peekskill, NYTax-exempt since Dec 2015Publicly supported charity — 170(b)(1)(A)(vi)

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The corporation is organized exclusively for charitable, religious, education and scientific purposes to provide diverse programs for cultural enrichment and Arts-in-education through the performing Arts for the benefit of the communities in and adjacent to northern westchester and southern putnam counties in new york state.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
$26K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2019 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $135K a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$26K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$55K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$873K
Spent
$648K
To programs
71%
Net assets
$250K
By yearFY2019–FY2024
Revenue
$873K
FY2019
Tap a bar for its year
Revenue by fiscal year
FY2019$873K
FY2020$308K
FY2021$1.2M
FY2022$1.4M
FY2023$2.2M
FY2024$3.4M
Expenses
$648K
FY2019
Tap a bar for its year
Expenses by fiscal year
FY2019$648K
FY2020$296K
FY2021$679K
FY2022$1.5M
FY2023$2.1M
FY2024$3.3M
Net assets
$250K
FY2019
Tap a bar for its year
Net assets by fiscal year
FY2019$250K
FY2020$263K
FY2021$793K
FY2022$689K
FY2023$706K
FY2024$813K

From the FY2019 Form 990 · 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: FY2024. IRS ruling in Dec 2015.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $461K Management & general 29% · $187K

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

8 people listed on the 990; $26K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$25,850Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Abigail Adams’s $51K as President is at the 5th percentile of top reported officer pay among 3925 $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.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2022FY2020FY2019
Abigail Adams$51,100$19,500$25,850
Sharon Dipalo—$15,836—

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.

See Paramount Hudson Valley Arts 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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Enriches communities through performing arts programs and arts-in-education initiatives.

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Provided by the organization

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3 programs · $125K · in their own filed words · FY2019
01

"almost queen" this was a sold out show of local musicians that we've helped launch to become the premier queen. Benefits included: we worked with peekskill restaurants to offer pre-show and post-show promotions to increase local restaurant revenue were able to prosper from our patrons, we were able to have 5 disabled superfan adults…

$45Kprogram expense
02

"beatles VS. Stones"inside glimpse into the 2 bands that helped shape today's music. Family fun evening, sold out show, the most diverse in audience ages that the paramount has ever had. Ticket giveaway to introduce the theatre to local journalists radio stations and veterans.

$40Kprogram expense
03

"lonestar"due to the demand from the veteran community, we doubled our ticket donation from 100 to 200 all of which were enjoyed by veterans, active service members and their families and all patrons of the show. It was very highly received.

$40Kprogram 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
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2019 990, line by line.

1The main four
Money inPt VIII
$873K
Ln 12
Fees for servicesLn 2g$729K
Other incomeLn 4–11$88K
Gifts and grantsLn 1h$55K
Money outPt IX
$648K
Ln 25
Programscol B$461K
Managementcol C$187K
Owns and owesPt X
$250K
net assets · Ln 32
Cash and savingsLn 1–2$233K
Total assetsLn 16$305K
LiabilitiesLn 26$55K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$55K
Fees for servicesLn 2g$729K
Other incomeLn 4–11$88K
Total revenueLn 12$873K
Assets in detailPt X, end of year
CashLn 1$233K
Cash and savings togetherLn 1–2$233K
Land, buildings, equipmentLn 10c$71K
Other assetsLn 15$0
Total assetsLn 16$305K
LiabilitiesLn 26$55K
Net assetsLn 32$250K
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY19End FY19
Cash and savingsLn 1–2$11K$233K
Land, buildings, equipmentLn 10c$0$71K
Total assetsLn 16$25K$305K
LiabilitiesLn 26$54$55K
Net assetsLn 32$25K$250K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3K$3K
Pay of current officers, directors and key staffLn 5$26K$26K
Other salaries and wagesLn 7$91K$41K$49K
Payroll taxesLn 10$9K$4K$5K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$43K$10K$33K
Advertising and promotionLn 12$24K$20K$4K
Office expensesLn 13$8K$8K
Depreciation, depletion and amortizationLn 22$4K$4K
InsuranceLn 23$12K$5K$7K
Other expenses (24a–d)Ln 24$394K$337K$57K
All other expensesLn 24e$22K$10K$12K
Total functional expensesLn 25$648K$461K$187K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.4M$3.3M$107K$813K 990 PDF
FY2023 $2.2M$2.1M$40K$706K 990 PDF
FY2022 $1.4M$1.5M−$104K$689K 990 PDF
FY2021 $1.2M$679K$531K$793K 990 PDF
FY2020 $308K$296K$12K$263K 990 PDF
FY2019 Viewing $873K$648K$225K$250K 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 FY2019 990 (6 parts)
Part I · Summary $872,875 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $178,942$55,450
I-9 Program service revenuePrior year $34,124$729,138
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $2,250$88,287
I-12 Total revenuePrior year $215,316$872,875
I-13 Grants and similar amounts paidPrior year $10,015$3,200
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $142,378$125,492
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $50,099$519,176
I-18 Total expensesPrior year $202,492$647,868
I-19 Revenue less expensesPrior year $12,824$225,007
Part VI · Governance 7 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $872,875 across 5 lines filed
VIII-1f All other contributions, gifts and grants$55,450
VIII-1h Total contributions, gifts and grants$55,450
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $729,138$729,138
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $88,287$88,287
VIII-12 Total revenueRelated to mission $817,425 · Unrelated business $0 · Excluded from tax $0$872,875
Part IX · Statement of functional expenses $647,868 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $3,200$3,200
IX-5 Pay of current officers, directors and key staffPrograms $25,850$25,850
IX-7 Other salaries and wagesPrograms $41,183 · Management $49,360$90,543
IX-10 Payroll taxesPrograms $4,139 · Management $4,960$9,099
IX-11b Legal feesManagement $4,922$4,922
IX-11c Accounting feesManagement $7,347$7,347
IX-11g Other fees for servicesPrograms $10,000 · Management $33,043$43,043
IX-12 Advertising and promotionPrograms $20,378 · Management $3,733$24,111
IX-13 Office expensesManagement $7,844$7,844
IX-22 Depreciation, depletion and amortizationPrograms $3,750$3,750
IX-23 InsurancePrograms $5,038 · Management $7,158$12,196
IX-24 Other expenses (24a–d)Programs $336,877 · Management $57,294$394,171
IX-24e All other expensesPrograms $10,268 · Management $11,524$21,792
IX-25 Total functional expensesPrograms $460,683 · Management $187,185 · Fundraising $0$647,868
Part X · Balance sheet $305,460 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $10,678$233,340
X-9 Prepaid expenses and deferred charges$870
X-10c Land, buildings and equipment, netStart of year $0$71,250
X-15 Other assetsStart of year $14,444$0
X-16 Total assetsStart of year $25,122$305,460
X-25 Other liabilitiesStart of year $54$5,385
X-26 Total liabilitiesStart of year $54$55,385
X-32 Total net assets or fund balancesStart of year $25,068$250,075
X-33 Total liabilities and net assetsStart of year $25,122$305,460
Part XI · Reconciliation of net assets $250,075 net assets at year end
XI-1 Total revenue$872,875
XI-2 Total expenses$647,868
XI-3 Revenue less expenses$225,007
XI-4 Net assets at start of year$25,068
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$250,075

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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