Paramount Arts Center Inc

Analysis

Paramount Arts Center Inc is a registered charity in United States, based in Ashland, KY. It received its IRS tax-exemption ruling in December 1990, 36 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Paramount Arts Center Inc reported income of $3.2m and spending of $3.8m, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $3.2m (+110%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 377%. Over the whole period it spent 115% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Paramount Arts Center Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within KY. Charities of a similar size with the same main cause include Variety the Childrens Charity of St Louis ($3.2m), Florida Housing Coalition Inc ($3.2m) and Young Mens Christian Association ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 72% of the total. Other salaries and wages came to $510k. At year end it held assets of $5.9m against liabilities of $2.5m, net assets of $3.4m. It reported 13 employees.