Paramount Hudson Valley Arts FY2021 filing

Tax-deductible

Peekskill, NY501(c)(3)Arts & CultureEIN 46-4031449Revenue $1.2M in FY2021

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.
56¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
56%
of spending
Worth a look: 56% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 13.5 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
$12K
2% of total assets
Looks good: liabilities are 2% 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
$1.2M
+292% vs prior year
Spent
$679K
To programs
56%
Net assets
$793K
By yearFY2019–FY2024
Revenue
$1.2M
FY2021▲ +292%
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
$679K
FY2021▲ +129%
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
$793K
FY2021▲ +202%
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 FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

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

56 cents of each dollar spent went to programs.

Program services 56% · $377K Management & general 44% · $301K

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.

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

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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 · $68K · in their own filed words · FY2021
01

"almost queen"almost queen is a musical group dedicated to introducing communities to the music of the iconic group "queen", and to raise awareness for aids.

$33Kprogram expense
02

"beatle v. Stones"beatles v. Stones provides a fun night for families by highlighting and exploring the music of two iconic musical groups.

$19Kprogram expense
03

"JB smoove"jb smoove is a multi-talented writer, comedian and acotr who brings a hilarious and fresh perspective on the the entertainment world to a diverse audience.

$17Kprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$631K
Fees for servicesLn 2g$519K
Other incomeLn 4–11$60K
Money outPt IX
$679K
Ln 25
Programscol B$377K
Managementcol C$301K
Owns and owesPt X
$793K
net assets · Ln 32
Cash and savingsLn 1–2$764K
Total assetsLn 16$805K
LiabilitiesLn 26$12K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$631K
Government grantsLn 1e$551K
Fees for servicesLn 2g$519K
Other incomeLn 4–11$60K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$764K
Cash and savings togetherLn 1–2$764K
Land, buildings, equipmentLn 10c$41K
Total assetsLn 16$805K
LiabilitiesLn 26$12K
Net assetsLn 32$793K
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 FY21End FY21
Cash and savingsLn 1–2$217K$764K
Land, buildings, equipmentLn 10c$56K$41K
Total assetsLn 16$273K$805K
LiabilitiesLn 26$11K$12K
Net assetsLn 32$263K$793K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$133K$27K$106K
Payroll taxesLn 10$12K$2K$9K
Legal feesLn 11b$2K$2K
Other fees for servicesLn 11g$129K$2K$128K
Advertising and promotionLn 12$32K$11K$21K
Office expensesLn 13$7K$650$7K
Conferences, conventions and meetingsLn 19$989$989
Depreciation, depletion and amortizationLn 22$15K$15K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$314K$314K
All other expensesLn 24e$26K$5K$21K
Total functional expensesLn 25$679K$377K$301K$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 Viewing $1.2M$679K$531K$793K 990 PDF
FY2020 $308K$296K$12K$263K 990 PDF
FY2019 $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 FY2021 990 (6 parts)
Part I · Summary $1,209,226 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $56,535$630,584
I-9 Program service revenuePrior year $223,504$518,874
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $28,271$59,768
I-12 Total revenuePrior year $308,310$1,209,226
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $71,704$144,695
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $224,133$534,018
I-18 Total expensesPrior year $295,837$678,713
I-19 Revenue less expensesPrior year $12,473$530,513
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 $1,209,226 across 6 lines filed
VIII-1e Government grants$550,700
VIII-1f All other contributions, gifts and grants$79,884
VIII-1h Total contributions, gifts and grants$630,584
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $518,874$518,874
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $59,768$59,768
VIII-12 Total revenueRelated to mission $578,642 · Unrelated business $0 · Excluded from tax $0$1,209,226
Part IX · Statement of functional expenses $678,713 across 11 lines filed
IX-7 Other salaries and wagesPrograms $26,874 · Management $106,172$133,046
IX-10 Payroll taxesPrograms $2,353 · Management $9,296$11,649
IX-11b Legal feesManagement $1,913$1,913
IX-11g Other fees for servicesPrograms $1,670 · Management $127,502$129,172
IX-12 Advertising and promotionPrograms $11,241 · Management $20,601$31,842
IX-13 Office expensesPrograms $650 · Management $6,672$7,322
IX-19 Conferences, conventions and meetingsManagement $989$989
IX-22 Depreciation, depletion and amortizationPrograms $15,000$15,000
IX-23 InsuranceManagement $7,379$7,379
IX-24 Other expenses (24a–d)Programs $314,242$314,242
IX-24e All other expensesPrograms $5,304 · Management $20,855$26,159
IX-25 Total functional expensesPrograms $377,334 · Management $301,379 · Fundraising $0$678,713
Part X · Balance sheet $805,349 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $217,027$764,099
X-10c Land, buildings and equipment, netStart of year $56,250$41,250
X-16 Total assetsStart of year $273,277$805,349
X-25 Other liabilitiesStart of year $29$9,588
X-26 Total liabilitiesStart of year $10,729$12,288
X-32 Total net assets or fund balancesStart of year $262,548$793,061
X-33 Total liabilities and net assetsStart of year $273,277$805,349
Part XI · Reconciliation of net assets $793,061 net assets at year end
XI-1 Total revenue$1,209,226
XI-2 Total expenses$678,713
XI-3 Revenue less expenses$530,513
XI-4 Net assets at start of year$262,548
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$793,061

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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