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The Paramount Foundation INC

Tax-deductible

Bristol, TN501(c)(3)Since 1989EIN 58-1837080

Preservation and restoration of the paramount theater, which is on the national register of historic places.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Run by 25 volunteers and 25 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
3 of 5
filings with a surplus
Average surplus $190K a year · 10% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$52K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$719K
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
+11% vs prior year
Spent
$2.2M
To programs
88%
Net assets
$1.4M
By yearFY2020–FY2024
Revenue
$2.0M
FY2024▲ +11%
Revenue by fiscal year
FY2020$1.8M
FY2021$407K
FY2022$3.3M
FY2023$2.2M
FY2024$1.8M
FY2024$2.0M
Expenses
$2.2M
FY2024▲ +23%
Expenses by fiscal year
FY2020$1.8M
FY2021$586K
FY2022$2.3M
FY2023$2.1M
FY2024$1.8M
FY2024$2.2M
Net assets
$1.4M
FY2024▼ -16%
Net assets by fiscal year
FY2020$692K
FY2021$606K
FY2022$1.6M
FY2023$1.7M
FY2024$1.7M
FY2024$1.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CThe Paramount Foundation INC
EINHdr · item D58-1837080
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFAug 1989
Year of formationHdr · item L1989
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CBristol, TN
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Program services88%$2.0M
Management & general11%$244K
Fundraising1%$27K
Total functional expensesLn 25$2.2M

Finances

Money in and out, what it owns and owes

Spent on programs
88%
of spending reaches programs▼ -0.6% vs prior filing year
Months of spending covered by cash
4.9mo
months of spending covered by cash and easy-to-sell investments▼ -37% vs prior filing year
Surplus or deficit
-11%
as % of revenue, this year▼ -2681% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$2.1M
FY2024▼ -12%
Total assets by fiscal year
FY2020$1.6M
FY2021$1.6M
FY2022$2.2M
FY2023$2.5M
FY2024$2.4M
FY2024$2.1M
Total liabilities
$719K
FY2024▼ -4%
Total liabilities by fiscal year
FY2020$926K
FY2021$1.0M
FY2022$553K
FY2023$812K
FY2024$750K
FY2024$719K
Revenue less expensesPt I · Ln 19−$218K
Total assetsPt X · Ln 16$2.1M
Spent on programsPt IX · col B88%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Balance Sheet

Part X · end of year
CashLn 1$913K
Total assetsLn 16$2.1M
Total liabilitiesLn 26$719K
Total net assetsLn 32$1.4M
Months of cash on handcomputed4.9

Statement of Revenue

Part VIII
Program service revenue$1.7M · 82%
Contributions & grants$275K · 14%
Other revenue$62K · 3%
Investment income$22K · 1%
Program service revenue82%$1.7M
Contributions & grants14%$275K
Other revenue3%$62K
Investment income1%$22K
— government grantsLn 1e$60K
Total revenueLn 12$2.0M

Money in detail

Form 990 · FY2024 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $913K · Operating expenses (Pt IX) $2.2M · Less non-cash grants $18K · Cash operating expenses/yr $2.2M
4.9 months
Where the money goes
Program services
Program services $2.0M · Total expenses $2.2M
88%
Management & General
Management & general $244K · Total expenses $2.2M
11%
Fundraising
Fundraising $27K · Total expenses $2.2M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $17K · Solicited contributions (3-yr avg) $218K
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $275K · Total revenue $2.0M
14%
Government reliance
Government grants $60K · Total revenue $2.0M
3%
Earned-income share
Program service revenue $1.7M · Total revenue $2.0M
82%
Investment reliance
Investment income $22K · Total revenue $2.0M
+1%
Program self-sufficiency
Program service revenue $1.7M · Total expenses $2.2M
74%
Growth & trend
Revenue change from last year
This year $2.0M · Prior year $1.8M
+11%
Revenue, average yearly change over 5 years
FY2019 $1.8M · FY2024 $2.0M
+2%
Net assets change over the year
End of year $1.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $2.0M · Expenses $2.2M
-11%
Debts compared to what it owns
Total liabilities — · Total assets $2.1M
—
Net assets compared to what it owns
Net assets $1.4M · Total assets $2.1M
66%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sarah Beth Carter · Reported title INTERIN EXECUTIVE DIRECTOR · Highest reported compensation $52K · Total expenses $2.2M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $368K · Total expenses $2.2M
16%
Peer comparison

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

MetricThis orgPeer medianPercentile
Spent on programs 88%——
Spent on management, % of spending 11%——
Fundraising cost, % of gifts 10%——
Revenue growth 11%——

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

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Sarah Beth Carter
Interin Executive Director
$52,470Pt VII · Sec A
$0Pt VII · Sec A
Matthew Riggins
Vice President
$0Pt VII · Sec A
Jon Luttrell
Director
$0Pt VII · Sec A
Elise Taylor
Secretary
$0Pt VII · Sec A
Logan McCabe
Director
$0Pt VII · Sec A
Paul Conco
Director
$0Pt VII · Sec A
Rob Simis
Director
$0Pt VII · Sec A

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

NameFY2024FY2024FY2023FY2022FY2020
Jennifer Hayes—$66,391$74,959$79,649—
Miles Marek————$78,000
Sarah Beth Carter$52,470————

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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Governance & Policies

Part VI
  • 16Voting board membersPt VI · Ln 1a
  • 16Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Preserves and restores a historic theater listed on the National Register.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $2.0M of program spending, described in the organization's own filed words · FY2024.
01

Providing artistic and musical performances to the general public to enhance and expand the appreciation of the arts in the bristol and surrounding areas.

$2.0Mprogram expense

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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
Food City Charitable Foundation INCFY2025$15K
Total grants receivedfrom 1 funder$15K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $1.8M$1.8M-17% 990 PDF
FY2023 $2.2M$2.1M-34% 990 PDF
FY2022 $3.3M$2.3M+712% 990 PDF
FY2021 $407K$586K-78% 990 PDF
FY2020 $1.8M$1.8M 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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $2,023,361 across 10 lines filed
VIII-1c Fundraising events$5,000
VIII-1e Government grants$59,500
VIII-1f All other contributions, gifts and grants$215,364
VIII-1g Noncash contributions (included above)$17,941
VIII-1h Total contributions, gifts and grants$274,864
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$1,664,926
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$22,059
VIII-6 Net rental income or lossRelated to mission $56,512$56,512
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $5,000$5,000
VIII-12 Total revenueRelated to mission $1,743,497 · Unrelated business $0 · Excluded from tax $5,000$2,023,361
Part IX · Statement of functional expenses $2,241,396 across 13 lines filed
IX-7 Other salaries and wagesPrograms $296,412 · Management $37,477 · Fundraising $6,814$340,703
IX-10 Payroll taxesPrograms $23,636 · Management $2,686 · Fundraising $537$26,859
IX-11c Accounting feesPrograms $8,856 · Management $9,594 · Fundraising $0$18,450
IX-11g Other fees for servicesPrograms $104,541 · Management $2,256 · Fundraising $0$106,797
IX-12 Advertising and promotionPrograms $66,829 · Management $0 · Fundraising $0$66,829
IX-13 Office expensesPrograms $35,160 · Management $0 · Fundraising $0$35,160
IX-16 OccupancyPrograms $18,053 · Management $3,186 · Fundraising $0$21,239
IX-17 TravelPrograms $0 · Management $8,730 · Fundraising $0$8,730
IX-20 InterestPrograms $0 · Management $14,418 · Fundraising $0$14,418
IX-22 Depreciation, depletion and amortizationPrograms $159,092 · Management $0 · Fundraising $0$159,092
IX-23 InsurancePrograms $0 · Management $28,033 · Fundraising $0$28,033
IX-24 Other expenses (24a–d)Programs $1,092,312 · Management $115,988 · Fundraising $19,488$1,227,788
IX-24e All other expensesPrograms $165,997 · Management $21,301 · Fundraising $0$187,298
IX-25 Total functional expensesPrograms $1,970,888 · Management $243,669 · Fundraising $26,839$2,241,396
Part X · Balance sheet $2,137,037 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $182,028$17,481
X-2 Savings and temporary cash investmentsStart of year $997,422$895,984
X-4 Accounts receivableStart of year $1,257$1,562
X-8 Inventories for sale or useStart of year $1,583$1,583
X-9 Prepaid expenses and deferred chargesStart of year $6,758$8,345
X-10c Land, buildings and equipment, netStart of year $1,242,051$1,212,082
X-16 Total assetsStart of year $2,431,099$2,137,037
X-17 Accounts payable and accrued expensesStart of year $394,912$397,596
X-19 Deferred revenueStart of year $0$0
X-26 Total liabilitiesStart of year $749,702$718,698
X-27 Net assets without donor restrictionsStart of year $1,681,397$1,355,814
X-28 Net assets with donor restrictions$62,525
X-32 Total net assets or fund balancesStart of year $1,681,397$1,418,339
X-33 Total liabilities and net assetsStart of year $2,431,099$2,137,037
Part XI · Reconciliation of net assets $1,418,339 net assets at year end
XI-1 Total revenue$2,023,361
XI-2 Total expenses$2,241,396
XI-3 Revenue less expenses−$218,035
XI-4 Net assets at start of year$1,681,397
XI-8 Prior period adjustments−$45,023
XI-10 Net assets at end of year$1,418,339

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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