The Paramount Foundation

Analysis

The Paramount Foundation is a registered charity in United States, based in Bristol, TN. It received its IRS tax-exemption ruling in August 1989, 37 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Paramount Foundation reported income of $2.2m and spending of $2.1m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.8m to $2.2m (+19%), an average of +6.0% a year. The sharpest change came in the year to June 2022, when income rose by 712%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Paramount Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Womensafe Inc ($2.2m), Des Moines Jewish Welfare Foundation ($2.2m) and Snohomish Community Food Bank ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 71% of the total. Other salaries and wages came to $381k. At year end it held assets of $2.5m against liabilities of $812k, net assets of $1.7m. It reported 12 employees.