Historic Paramount Theatre Inc

Analysis

Historic Paramount Theatre Inc is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in June 2003, 23 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Historic Paramount Theatre Inc reported income of $1.3m and spending of $1.1m, spending 81% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $691k to $1.3m (+95%), an average of +25% a year. The sharpest change came in the year to March 2022, when income rose by 97%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Paramount Theatre Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include International Society for Clinical Densitometry Inc ($1.3m), Aha Abenaki Helping Abenaki ($1.4m) and Victoria Mansion ($1.3m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $105k (9.5% of expenses). Other salaries and wages came to $312k. At year end it held assets of $1.2m against liabilities of $92k, net assets of $1.1m. It reported 60 employees.