Paramount Theater of Charlottesville Inc

Analysis

Paramount Theater of Charlottesville Inc is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in September 2005, 21 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 June 2023, Paramount Theater of Charlottesville Inc reported income of $3.4m and spending of $4.0m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.6m to $3.4m (+29%), an average of +6.5% a year. The sharpest change came in the year to June 2022, when income rose by 94%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Paramount Theater of Charlottesville Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include The Workmens Circle Arbeter Ring Incorporated ($3.4m), Florida Falun Dafa Association Inc ($3.4m) and Foothills Art Center Inc ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $157k (4.0% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.9m against liabilities of $685k, net assets of $1.2m. It reported 38 employees.