Overview
What is The Paramount Foundation Inc?
The Paramount Foundation Inc, based in Bristol, Tennessee, is a nonprofit organization with a primary focus on cultivating and expanding the appreciation of arts and music within the local community and its surroundings. The foundation's main activity involves organizing artistic and musical performances. One of its significant missions is the preservation and restoration of the Paramount Theater, a historic landmark listed on the National Register of Historic Places. With a dedicated team of 15 individuals, The Paramount Foundation Inc is committed to safeguarding and revitalizing this cultural gem for future generations to enjoy.
Official website here: www.paramountbristol.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 86% (Three-Star out of Four Star rating).
The Paramount Foundation Inc has received an overall score of 86%, reflecting a strong commitment to accountability and finance. The organization boasts a fully independent board, with all members meeting the criteria for independence. Key financial indicators, such as a low liabilities to assets ratio and a high program expense ratio, suggest effective financial management and a focus on programmatic impact.
However, a couple of areas for improvement have been noted, particularly the absence of a whistleblower policy and a document retention and destruction policy, which received no points in their assessments. While the foundation demonstrates solid governance practices, addressing these gaps could enhance its accountability framework. Overall, the foundation shows a strong commitment to transparency and responsible financial practices.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Paramount Foundation Inc?
92% of 601 reviewers on Facebook recommend The Paramount Foundation Inc. Here is a summary of their reviews:
Many patrons express their enthusiasm for the performances, particularly praising productions like "Beauty and the Beast," which received specific commendation for its superb quality. Audience members appreciate the overall experience and feel that the foundation offers a compelling reason to attend more frequently.
Overall, the positive sentiment is strong, with many expressing satisfaction with the organization’s ability to deliver entertaining and high-quality performances that encourage community engagement.
This AI summary has been generated from reviews found on Facebook.
Is The Paramount Foundation Inc legitimate?
The Paramount Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Paramount Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $354,658
For more financial information, click here
Official website here: www.paramountbristol.org
What is the mission statement of The Paramount Foundation Inc?
The Paramount Foundation Inc's mission is centered around the preservation and restoration of a historic landmark, specifically the Paramount Theater, which is listed on the National Register of Historic Places. Their primary objective is to preserve this cultural heritage site. In addition to this, the foundation aims to enrich the appreciation of the arts by organizing and presenting artistic and musical performances to the public, particularly in the Bristol area and its surroundings. By doing so, they contribute to expanding the general public's understanding and enjoyment of the arts.
Official website here: www.paramountbristol.org
What is the revenue of The Paramount Foundation Inc?
The Paramount Foundation Inc's revenue in 2024 was $1,817,274.
Official website here: www.paramountbristol.org
Who are the executives of The Paramount Foundation Inc and what are their salaries?
The average compensation at The Paramount Foundation Inc during 2024 was $35,466. There are 10 employees and 25 volunteers at The Paramount Foundation Inc.
Here are 20 key members and their salaries:
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Official website here: www.paramountbristol.org
Where can I find the form 990 for The Paramount Foundation Inc?
The Paramount Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.paramountbristol.org
Learn more at the official website: www.paramountbristol.org
Mission Statement of The Paramount Foundation Inc
The Paramount Foundation Inc is dedicated to preserving and restoring the Paramount Theater, a historic landmark that is listed on the National Register of Historic Places. This mission is not just about maintaining the physical structure of the theater, but also about breathing new life into it. By providing artistic and musical performances to the general public, The Paramount Foundation Inc aims to expand and enhance the appreciation of the arts in the Bristol region and beyond. This nonprofit organization serves as a cultural anchor, bringing diverse forms of entertainment to the community and fostering a deep connection with the arts. Through its efforts, The Paramount Foundation Inc contributes to a richer cultural landscape, enriching the lives of those who attend its performances and inspiring future generations of artists and art lovers.
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Impact
July, 2024
The Paramount Foundation Inc's impact is significant in the preservation and restoration of the Paramount Theater, which is an important historic landmark listed on the National Register of Historic Places. Through their activities, they provide artistic and musical performances to the general public, enriching the cultural landscape of Bristol and its surrounding region. By focusing on enhancing and expanding the appreciation of the arts, The Paramount Foundation Inc plays a vital role in promoting cultural heritage and fostering a vibrant arts community in the area.
This information is meant to be a general summary of The Paramount Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $21,384
- Program Service Revenue: $1,253,374
- Gross Receipts: $1,817,274
Assets and Liabilities:
- Total Assets: $2,156,757
- Total Liabilities: $552,747
- Net Assets: $1,604,010
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET SALES
Revenue
$1,045,581
PROGRAM INCOME
Revenue
$129,485
PRESERVATION FEE
Revenue
$78,027
OTHER REVENUES
Revenue
$281
Organization Details
Founding Year
1989
Principal Officer
Tracie Jones
Website
www.paramountbristol.orgNTEE Category
Code: A80 - Arts
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