Form 990 for tax year 2022

Filed by PARAMOUNT ARTS CENTER INC.

What the amendment changed

Compared with the return it replaced , filed 15 May 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue: $3,220,738 changed to $3,507,776
Total expenses: $3,821,065 changed to $4,096,433
Contributions and grants received: $808,939 changed to $988,895
Program service revenue: $2,322,860 changed to $2,292,714
Investment income: $410 changed to $31,279
Other revenue: $88,529 changed to $194,888
Total assets, end of year: $5,902,007 changed to $5,861,368
Total liabilities, end of year: $2,476,050 changed to $2,423,741
Net assets or fund balances, end of year: $3,425,957 changed to $3,437,627
Program services expenses: $2,802,488 changed to $3,015,380
Management and general expenses: $952,372 changed to $1,014,702
Fundraising expenses: $66,205 changed to $66,351
Program service expenses (Part III): $2,802,488 changed to $3,015,380

Listed only on the earlier return

ALICIA ELDRIDGE
APRIL PERRY
BLAKE GILLUM
BRETT MATTISON
CHRIS PULLEN
DR KIM KEFFER
HOWARD HARRISON
JASON CAMP
JASON PRUITT
JOHN CLARK
JOHN STEWART
JOSH BLANTON
MARK STROTHER
MICHAEL CANTY
RANNIE COOPER
ROCKY ADKINS
STUART WEBB
TAMME GRUBB

Listed only on the later return

ALICE MARTIN
BRANDY CLARK
CYNTHIA WISEMAN
JUSTIN PRUITT

Totals

Total revenue: $3,507,776
Total expenses: $4,096,433
Contributions and grants received: $988,895
Grants paid: $0
Program service revenue: $2,292,714
Investment income: $31,279
Other revenue: $194,888
Total assets, end of year: $5,861,368
Total liabilities, end of year: $2,423,741
Net assets or fund balances, end of year: $3,437,627
Program services expenses (Part IX): $3,015,380
Management and general expenses: $1,014,702
Fundraising expenses: $66,351
Program service expenses (Part III): $3,015,380

Program services were 73.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1d · Related organizations

$38,049
1e · Government grants (contributions)

$259,715
1f · All other contributions, gifts and grants

$691,131
2a · Program service revenue: SERIES/SPECIAL EVENTS

total $1,948,963 · related or exempt $1,948,963
2b · Program service revenue: CONCESSIONS

total $268,665 · related or exempt $268,665
2c · Program service revenue: MERCHANDISE SALES

total $58,988 · related or exempt $58,988
2d · Program service revenue: CHAIRHOLDERS

total $16,098 · related or exempt $16,098
3 · Investment income

total $34,852 · excluded $34,852
6a · Gross rents

real property $85,994
6c · Rental income or loss

real property $85,994
6d · Net rental income or loss

total $85,994 · excluded $85,994
7b · Less cost or other basis and sales expenses

other assets $3,573
7c · Gain or loss

other assets -$3,573
7d · Net gain or loss

total -$3,573 · related or exempt -$3,573
8a · Fundraising events: gross income

$120,094
8b · Fundraising events: direct expenses

$11,200
8c · Net income from fundraising events

total $108,894

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $528,370 · management and general $528,370
9 · Other employee benefits

total $68,611 · management and general $68,611
11g · Fees: other

total $14,678 · management and general $14,678
12 · Advertising and promotion

total $126,890 · program services $126,890
13 · Office expenses

total $32,841 · program services $3,281 · management and general $29,560
16 · Occupancy

total $179,119 · program services $179,119
20 · Interest

total $48,210 · management and general $48,210
22 · Depreciation, depletion and amortization

total $275,293 · program services $272,909 · management and general $2,384
23 · Insurance

total $64,625 · program services $64,625
24a · Other expenses: SERIES AND SPECIAL EVENTS

total $2,089,644 · program services $2,089,644
24b · Other expenses: MISCELLANEOUS

total $192,890 · program services $137,125 · management and general $55,765
24c · Other expenses: SOFTWARE SUPPORT

total $152,161 · management and general $152,161
24d · Other expenses: MAINTENCE

total $85,979 · program services $78,136 · management and general $7,843
24e · All other expenses

total $237,122 · program services $63,651 · management and general $107,120 · fundraising $66,351

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $314,979 · end of year $230,134
2 · Savings and temporary cash investments

beginning of year $25,863
4 · Accounts receivable

beginning of year $77,372
8 · Inventories for sale or use

beginning of year $23,200 · end of year $19,300
9 · Prepaid expenses and deferred charges

beginning of year $312,217 · end of year $43,625
10a · Land, buildings and equipment: cost or other basis

$12,060,648
10b · Land, buildings and equipment: accumulated depreciation

$6,838,946
10c · Land, buildings and equipment, net

beginning of year $5,225,319 · end of year $5,221,702
14 · Intangible assets

beginning of year $45,290 · end of year $42,908
15 · Other assets

beginning of year $317,167 · end of year $303,699
17 · Accounts payable and accrued expenses

beginning of year $131,162 · end of year $216,341
19 · Deferred revenue

beginning of year $534,289 · end of year $511,871
25 · Other liabilities

beginning of year $1,682,402 · end of year $1,695,529
27 · Net assets without donor restrictions

beginning of year $3,642,493 · end of year $3,129,008
28 · Net assets with donor restrictions

beginning of year $351,061 · end of year $308,619

Mission and programs · 2022

Mission

THE PARAMOUNT ARTS CENTER, INC. MAINTAINS AND OPERATIONS A PERFORMING ARTS THEATER TO PROVIDE FOR, PROMOTE AND ENCOURAGE APPRECIATION, PARTICIPATION AND EDUCATION IN THE FINE ARTS.

THE PARAMOUNT ARTS CENTER, INC. MAINTAINS AND OPERATIONS A PERFORMING ARTS THEATER TO PROVIDE FOR, PROMOTE AND ENCOURAGE APPRECIATION, PARTICIPATION AND EDUCATION IN THE FINE ARTS.

Expenses $3,015,380 · Revenue $2,327,943

As filed on the 2022 return.

Listed in Part VII

BILL BOYKIN

DIRECTOR

Total calculated

$0
LEON BRIGGS

DIRECTOR

Total calculated

$0
CHUCK CHARLES

DIRECTOR

Total calculated

$0
BRANDY CLARK

DIRECTOR

Total calculated

$0
ROGER HALL

DIRECTOR

Total calculated

$0
MICHAEL HOBBS

TREASURER

Total calculated

$0
LLOYD HUDSON

DIRECTOR

Total calculated

$0
SYDNEY KEETON

DIRECTOR

Total calculated

$0
JAMES KING

DIRECTOR

Total calculated

$0
MARY KAY MCGINNIS-RUARK

DIRECTOR

Total calculated

$0
ALICE MARTIN

DIRECTOR

Total calculated

$0
LANCE MCCOMIS

DIRECTOR

Total calculated

$0
JUSTIN PRUITT

DIRECTOR

Total calculated

$0
BROOKE SEASOR

DIRECTOR

Total calculated

$0
CYNTHIA WISEMAN

DIRECTOR

Total calculated

$0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 16 April 2025
IRS schema version: 2022v5.0
Source object: 202531079349301118

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