Overview
What is Paramount Arts Center Inc?
Paramount Arts Center Inc, located in Ashland, Kentucky, is a nonprofit organization that operates a performing arts theater. Their primary mission is to foster appreciation, participation, and education in the fine arts. By maintaining and operating this theater, they aim to promote cultural engagement and learning within their community. With a team of 13 dedicated individuals, the Paramount Arts Center Inc provides a platform for various artistic performances and events, encouraging active participation and lifelong learning in the arts.
Official website here: www.paramountartscenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 77% - Three-Star out of Four Star Rating
Paramount Arts Center Inc has earned a Three-Star rating from Charity Navigator, indicating a fair level of accountability and financial health. The overall score is based entirely on the accountability and finance beacon, reflecting a strong commitment to transparency and governance. The charity's score of 77% suggests that while there are strengths, there may still be areas for improvement.
The organization demonstrates notable strengths, including a fully independent board with 100% of members meeting this criterion, and no material diversion of assets reported. They have also established sound policies, such as a conflict of interest policy and documented board meeting minutes, which contribute positively to their accountability profile. Furthermore, a high program expense ratio indicates that a significant portion of their funds is directed towards their programs.
However, a key limitation noted is the absence of a whistleblower policy, which could be an important aspect of fostering an open and accountable organizational culture. While the financial health appears solid, addressing this gap could enhance their overall governance framework.
This AI summary has been generated from information found on Charity Navigator.
Is Paramount Arts Center Inc legitimate?
Paramount Arts Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paramount Arts Center 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
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Other Salaries and Wages: $396,737
For more financial information, click here
Official website here: www.paramountartscenter.com
What is the mission statement of Paramount Arts Center Inc?
The Paramount Arts Center Inc operates and maintains a performing arts theater with the objective of fostering, promoting, and encouraging appreciation, participation, and education in the fine arts. This non-profit organization aims to serve as a platform for individuals to engage with various artistic forms, thereby broadening their perspectives and knowledge in the field. By providing a space for performances and educational programs, the Paramount Arts Center Inc encourages active participation and learning in the fine arts.
Official website here: www.paramountartscenter.com
Who is the CEO of Paramount Arts Center Inc?
Michael Hobbs is the Director of Paramount Arts Center Inc.
Official website here: www.paramountartscenter.com
What is the revenue of Paramount Arts Center Inc?
Paramount Arts Center Inc's revenue in 2022 was $4,086,756.
Official website here: www.paramountartscenter.com
Who are the executives of Paramount Arts Center Inc and what are their salaries?
The average compensation at Paramount Arts Center Inc during 2022 was $30,518. There are 13 employees and 100 volunteers at Paramount Arts Center Inc.
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Official website here: www.paramountartscenter.com
Where can I find the form 990 for Paramount Arts Center Inc?
Paramount Arts Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.paramountartscenter.com
Learn more at the official website: www.paramountartscenter.com
Mission Statement of Paramount Arts Center Inc
Paramount Arts Center Inc, as a nonprofit organization, is dedicated to preserving and managing a performing arts theater. Its primary objective is to foster, promote, and encourage appreciation, participation, and education in the fine arts. By maintaining and operating this theater, Paramount Arts Center Inc aims to serve as a platform that encourages people to engage with and learn about various artistic disciplines. Its mission is not just about providing entertainment, but also about inspiring and educating the community, encouraging active participation in the arts, and nurturing an appreciation for the finer aspects of artistic expression.
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Impact
July, 2024
The impact of Paramount Arts Center Inc is evident in its efforts to maintain and operate a performing arts theater that provides for, promotes, and encourages appreciation, participation, and education in the fine arts. Through its activities and programs, Paramount Arts Center Inc plays a crucial role in enriching the cultural landscape of Ashland, KY, and beyond. By showcasing a diverse range of performances and supporting artists, the organization helps foster a vibrant arts community and engages audiences in meaningful cultural experiences. Overall, Paramount Arts Center Inc contributes significantly to the promotion of arts appreciation and education, making a positive impact on the local community and beyond.
This information is meant to be a general summary of Paramount Arts Center 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 2022.
- Investment Income: $2,129
- Program Service Revenue: $2,539,416
- Gross Receipts: $4,120,524
Assets and Liabilities:
- Total Assets: $6,341,407
- Total Liabilities: $2,347,853
- Net Assets: $3,993,554
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERIES/SPECIAL EVENTS
Revenue
$2,245,481
CONCESSIONS
Revenue
$226,837
MERCHANDISE SALES
Revenue
$57,241
CHAIRHOLDERS
Revenue
$9,857
Organization Details
Founding Year
1989
Phone
(606) 324-2175Principal Officer
Michael Hobbs
Main Address
PO BOX 1546, ASHLAND, KY, 411051546
Website
www.paramountartscenter.comNTEE Category
Code: Z99Z - Unknown
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