The Paramount Foundation INC FY2024 filing

Tax-deductible

Bristol, TN501(c)(3)Since 1989EIN 58-1837080Revenue $1.8M in FY2024

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.
89¢ of each $1 spent went to programs.
$66K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
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
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$66K
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
8 mo
of spending, in cash
Looks good: 7.8 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
$750K
31% of total assets
Looks good: liabilities are 31% 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
$1.8M
-17% vs prior year
Spent
$1.8M
To programs
89%
Net assets
$1.7M
By yearFY2020–FY2025
Revenue
$1.8M
FY2024▼ -17%
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
FY2024▼ -13%
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
$1.7M
FY2024-0.4%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 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

89 cents of each dollar spent went to programs.

Program services 89% · $1.6M Management & general 11% · $196K Fundraising 1% · $14K

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

20 people listed on the 990; $66K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$66,391Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director Emeritus
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$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 · FY2023
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.

$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 FY2024 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.3M
Gifts and grantsLn 1h$501K
Other incomeLn 4–11$42K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.6M
Managementcol C$196K
Fundraisingcol D$14K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$2.4M
LiabilitiesLn 26$750K
PeoplePt VI, VII
20
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$501K
Government grantsLn 1e$368K
Noncash giftsLn 1g$1K
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$21K
Other incomeLn 4–11$42K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$182K
SavingsLn 2$997K
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$2.4M
LiabilitiesLn 26$750K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 525
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$994K$1.2M
Land, buildings, equipmentLn 10c$1.4M$1.2M
Total assetsLn 16$2.5M$2.4M
LiabilitiesLn 26$812K$750K
Net assetsLn 32$1.7M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$355K$311K$36K$7K
Payroll taxesLn 10$38K$34K$4K$770
Legal feesLn 11b$2K$0$2K$0
Accounting feesLn 11c$20K$11K$9K$0
Other fees for servicesLn 11g$89K$89K$0$0
Advertising and promotionLn 12$80K$80K$0$0
Office expensesLn 13$12K$12K$0$0
OccupancyLn 16$17K$14K$2K$0
TravelLn 17$12K$0$12K$0
InterestLn 20$16K$0$16K$0
Depreciation, depletion and amortizationLn 22$172K$172K$0$0
InsuranceLn 23$29K$0$29K$0
Other expenses (24a–d)Ln 24$807K$730K$71K$6K
All other expensesLn 24e$175K$161K$14K$0
Total functional expensesLn 25$1.8M$1.6M$196K$14K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.0M$2.2M−$218K$1.4M 990 PDF
FY2024 Viewing $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 $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 FY2024 990 (6 parts)
Part I · Summary $1,817,274 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $579,173$500,712
I-9 Program service revenuePrior year $1,549,563$1,253,374
I-10 Investment incomePrior year $12,356$21,384
I-11 Other revenuePrior year $43,378$41,804
I-12 Total revenuePrior year $2,184,470$1,817,274
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $411,475$393,150
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,685,161$1,431,165
I-18 Total expensesPrior year $2,096,636$1,824,315
I-19 Revenue less expensesPrior year $87,834−$7,041
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,817,274 across 8 lines filed
VIII-1e Government grants$367,698
VIII-1f All other contributions, gifts and grants$133,014
VIII-1g Noncash contributions (included above)$1,426
VIII-1h Total contributions, gifts and grants$500,712
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$1,253,374
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$21,384
VIII-6 Net rental income or lossRelated to mission $41,804$41,804
VIII-12 Total revenueRelated to mission $1,316,562 · Unrelated business $0 · Excluded from tax $0$1,817,274
Part IX · Statement of functional expenses $1,824,315 across 14 lines filed
IX-7 Other salaries and wagesPrograms $311,099 · Management $36,466 · Fundraising $7,093$354,658
IX-10 Payroll taxesPrograms $33,873 · Management $3,849 · Fundraising $770$38,492
IX-11b Legal feesPrograms $0 · Management $2,500 · Fundraising $0$2,500
IX-11c Accounting feesPrograms $10,652 · Management $8,945 · Fundraising $0$19,597
IX-11g Other fees for servicesPrograms $89,275 · Management $0 · Fundraising $0$89,275
IX-12 Advertising and promotionPrograms $80,487 · Management $0 · Fundraising $0$80,487
IX-13 Office expensesPrograms $11,553 · Management $0 · Fundraising $0$11,553
IX-16 OccupancyPrograms $14,170 · Management $2,500 · Fundraising $0$16,670
IX-17 TravelPrograms $0 · Management $12,165 · Fundraising $0$12,165
IX-20 InterestPrograms $0 · Management $15,831 · Fundraising $0$15,831
IX-22 Depreciation, depletion and amortizationPrograms $172,061 · Management $0 · Fundraising $0$172,061
IX-23 InsurancePrograms $0 · Management $28,841 · Fundraising $0$28,841
IX-24 Other expenses (24a–d)Programs $730,159 · Management $71,084 · Fundraising $5,861$807,104
IX-24e All other expensesPrograms $161,301 · Management $13,780 · Fundraising $0$175,081
IX-25 Total functional expensesPrograms $1,614,630 · Management $195,961 · Fundraising $13,724$1,824,315
Part X · Balance sheet $2,431,099 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $50,296$182,028
X-2 Savings and temporary cash investmentsStart of year $943,652$997,422
X-4 Accounts receivableStart of year $3,022$1,257
X-8 Inventories for sale or useStart of year $1,583$1,583
X-9 Prepaid expenses and deferred chargesStart of year $10,911$6,758
X-10c Land, buildings and equipment, netStart of year $1,401,089$1,242,051
X-16 Total assetsStart of year $2,500,662$2,431,099
X-17 Accounts payable and accrued expensesStart of year $332,553$394,912
X-19 Deferred revenueStart of year $90,109$0
X-26 Total liabilitiesStart of year $811,925$749,702
X-27 Net assets without donor restrictionsStart of year $1,688,737$1,681,397
X-32 Total net assets or fund balancesStart of year $1,688,737$1,681,397
X-33 Total liabilities and net assetsStart of year $2,500,662$2,431,099
Part XI · Reconciliation of net assets $1,681,397 net assets at year end
XI-1 Total revenue$1,817,274
XI-2 Total expenses$1,824,315
XI-3 Revenue less expenses−$7,041
XI-4 Net assets at start of year$1,688,737
XI-8 Prior period adjustments−$299
XI-10 Net assets at end of year$1,681,397

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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