Paramount Advantage

Analysis

Paramount Advantage is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in February 2016, 10 years ago. 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 December 2023, Paramount Advantage reported income of $82.1m and spending of $12.5m, leaving 85% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.50bn to $82.1m (-95%), an average of -52% a year. The sharpest change came in the year to December 2022, when income dropped by 83%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Paramount Advantage sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Childrens Law Center of California ($82.1m), Vip Community Services Inc ($82.7m) and Community Care of West Virginia Inc ($81.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 11% of the total. Other salaries and wages came to $10.1m. At year end it held assets of $62.3m against liabilities of $33.9m, net assets of $28.4m.