The Paramount Foundation INC FY2020 filing

Tax-deductible

Bristol, TN501(c)(3)Since 1989EIN 58-1837080Revenue $1.8M in FY2020

On file with the IRS518 State St, 37620-5910 · Bristol, TNTax-exempt since Aug 1989Publicly supported charity — 170(b)(1)(A)(vi)

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

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$78K 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

FY2020 · 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
3 of 6
filings with a surplus
Average surplus $122K a year · 6% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$78K
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
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
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
$926K
57% of total assets
Fine: liabilities are 57% of assets; 50% to 65%.
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
$1.8M
Spent
$1.8M
To programs
92%
Net assets
$692K
By yearFY2020–FY2025
Revenue
$1.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$407K
FY2022$3.3M
FY2023$2.2M
FY2024$1.8M
FY2025$2.0M
Expenses
$1.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$586K
FY2022$2.3M
FY2023$2.1M
FY2024$1.8M
FY2025$2.2M
Net assets
$692K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$692K
FY2021$606K
FY2022$1.6M
FY2023$1.7M
FY2024$1.7M
FY2025$1.4M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Aug 1989.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $1.6M Management & general 8% · $137K

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

18 people listed on the 990; $78K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Executive Director
$78,000Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2020
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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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

Programs and updates

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

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2019
01

Providing artistic and musical performances to the general public to enhance and expand the appreciation of the artsin the bristol and surrounding region.

$1.6Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.0M
Gifts and grantsLn 1h$709K
Other incomeLn 4–11$83K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.6M
Managementcol C$137K
Owns and owesPt X
$692K
net assets · Ln 32
Cash and savingsLn 1–2$417K
Total assetsLn 16$1.6M
LiabilitiesLn 26$926K
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$709K
Government grantsLn 1e$42K
Noncash giftsLn 1g$2K
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$1K
Other incomeLn 4–11$83K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$12K
SavingsLn 2$405K
Cash and savings togetherLn 1–2$417K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.6M
LiabilitiesLn 26$926K
Net assetsLn 32$692K
OperationsPt I, VI
EmployeesI 525
VolunteersI 625
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 FY20End FY20
Cash and savingsLn 1–2$93K$417K
Land, buildings, equipmentLn 10c$1.1M$1.2M
Total assetsLn 16$1.2M$1.6M
LiabilitiesLn 26$634K$926K
Net assetsLn 32$531K$692K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$70K$35K$35K
Other salaries and wagesLn 7$384K$384K
Other employee benefitsLn 9$44K$44K
Payroll taxesLn 10$37K$35K$3K
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$148K$148K
Office expensesLn 13$6K$6K
Information technologyLn 14$20K$20K
OccupancyLn 16$72K$72K
Conferences, conventions and meetingsLn 19$7K$7K
Payments to affiliatesLn 21$23K$23K
Depreciation, depletion and amortizationLn 22$135K$135K
InsuranceLn 23$23K$23K
Other expenses (24a–d)Ln 24$790K$790K
Total functional expensesLn 25$1.8M$1.6M$137K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.0M$2.2M−$218K$1.4M 990 PDF
FY2024 $1.8M$1.8M−$7K$1.7M 990 PDF
FY2023 $2.2M$2.1M$88K$1.7M 990 PDF
FY2022 $3.3M$2.3M$998K$1.6M 990 PDF
FY2021 $407K$586K−$180K$606K 990 PDF
FY2020 Viewing $1.8M$1.8M$53K$692K 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 FY2020 990 (6 parts)
Part I · Summary $1,832,258 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $422,081$709,095
I-9 Program service revenuePrior year $1,025,548$1,038,718
I-10 Investment incomePrior year $1,316$1,152
I-11 Other revenuePrior year $70,523$83,293
I-12 Total revenuePrior year $1,519,468$1,832,258
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $417,595$535,338
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,146,584$1,243,824
I-18 Total expensesPrior year $1,564,179$1,779,162
I-19 Revenue less expensesPrior year −$44,711$53,096
Part VI · Governance 17 of 17 board members independent, 3 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,832,258 across 8 lines filed
Lines not itemized here account for $71,766 of total revenue; see the IRS return.
VIII-1e Government grants$42,280
VIII-1f All other contributions, gifts and grants$666,815
VIII-1g Noncash contributions (included above)$1,817
VIII-1h Total contributions, gifts and grants$709,095
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,038,718$1,038,718
VIII-3 Investment incomeRelated to mission $1,152$1,152
VIII-6 Net rental income or lossRelated to mission $11,527$11,527
VIII-12 Total revenueRelated to mission $1,123,163 · Unrelated business $0 · Excluded from tax $0$1,832,258
Part IX · Statement of functional expenses $1,779,162 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $35,000 · Management $35,000$70,000
IX-7 Other salaries and wagesPrograms $383,658$383,658
IX-9 Other employee benefitsPrograms $44,300$44,300
IX-10 Payroll taxesPrograms $34,517 · Management $2,863$37,380
IX-11c Accounting feesManagement $14,856$14,856
IX-11g Other fees for servicesManagement $6,086$6,086
IX-12 Advertising and promotionPrograms $147,612$147,612
IX-13 Office expensesManagement $6,002$6,002
IX-14 Information technologyManagement $19,823$19,823
IX-16 OccupancyPrograms $71,764$71,764
IX-19 Conferences, conventions and meetingsManagement $6,637$6,637
IX-21 Payments to affiliatesManagement $22,935$22,935
IX-22 Depreciation, depletion and amortizationPrograms $135,344$135,344
IX-23 InsuranceManagement $22,926$22,926
IX-24 Other expenses (24a–d)Programs $789,839$789,839
IX-25 Total functional expensesPrograms $1,642,034 · Management $137,128 · Fundraising $0$1,779,162
Part X · Balance sheet $1,618,180 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $93,320$12,028
X-2 Savings and temporary cash investments$404,975
X-4 Accounts receivableStart of year $3,273$765
X-8 Inventories for sale or useStart of year $1,583$1,583
X-9 Prepaid expenses and deferred chargesStart of year $6,921$22,897
X-10c Land, buildings and equipment, netStart of year $1,060,369$1,175,932
X-16 Total assetsStart of year $1,165,466$1,618,180
X-17 Accounts payable and accrued expensesStart of year $27,687$51,268
X-19 Deferred revenueStart of year $120,506$343,079
X-26 Total liabilitiesStart of year $634,468$925,683
X-27 Net assets without donor restrictionsStart of year $506,670$267,310
X-28 Net assets with donor restrictionsStart of year $24,328$425,187
X-32 Total net assets or fund balancesStart of year $530,998$692,497
X-33 Total liabilities and net assetsStart of year $1,165,466$1,618,180
Part XI · Reconciliation of net assets $692,497 net assets at year end
XI-1 Total revenue$1,832,258
XI-2 Total expenses$1,779,162
XI-3 Revenue less expenses$53,096
XI-4 Net assets at start of year$530,998
XI-9 Other changes in net assets$108,403
XI-10 Net assets at end of year$692,497

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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