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← PARAMOUNT THEATRE OF THE ARTS INC

Form 990 for tax year 2022

Filed by PARAMOUNT THEATRE OF THE ARTS INC.

Totals

Total revenue
$4,004,331
Total expenses
$3,851,348
Contributions and grants received
$23,183
Grants paid
$0
Program service revenue
$3,785,459
Investment income
$195,689
Other revenue
$0
Total assets, end of year
$15,623,367
Total liabilities, end of year
$2,904,344
Net assets or fund balances, end of year
$12,719,023
Program services expenses (Part IX)
$3,529,366
Management and general expenses
$321,982
Fundraising expenses
$0
Program service expenses (Part III)
$3,529,366

Program services were 91.6% 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.

  • 1f · All other contributions, gifts and grants

    $23,183

  • 2a · Program service revenue: EVENT SERVICES

    total $2,514,905 · related or exempt $2,514,905

  • 2b · Program service revenue: THEATRE, BOX OFFICE, A

    total $514,598 · related or exempt $514,598

  • 2c · Program service revenue: TICKET SURCHARGES

    total $366,749 · related or exempt $366,749

  • 2d · Program service revenue: BEVERAGE AND FOOD SALE

    total $287,246 · related or exempt $287,246

  • 2e · Program service revenue: CONCESSIONS AND TOURS

    total $101,961 · related or exempt $101,961

  • 3 · Investment income

    total $142,828 · excluded $142,828

  • 7a · Gross sales of assets other than inventory

    securities $635,058 · other assets $15,800

  • 7b · Less cost or other basis and sales expenses

    securities $582,997 · other assets $15,000

  • 7c · Gain or loss

    securities $52,061 · other assets $800

  • 7d · Net gain or loss

    total $52,861 · excluded $52,861

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $336,998 · program services $276,998 · management and general $60,000

  • 7 · Other salaries and wages

    total $762,701 · program services $741,711 · management and general $20,990

  • 9 · Other employee benefits

    total $64,206 · program services $59,930 · management and general $4,276

  • 10 · Payroll taxes

    total $78,425 · program services $71,343 · management and general $7,082

  • 11c · Fees: accounting

    total $60,500 · management and general $60,500

  • 11f · Fees: investment management

    total $23,787 · management and general $23,787

  • 11g · Fees: other

    total $1,787,169 · program services $1,757,349 · management and general $29,820

  • 13 · Office expenses

    total $135,872 · program services $132,633 · management and general $3,239

  • 16 · Occupancy

    total $143,171 · program services $143,170 · management and general $1

  • 17 · Travel

    total $1,003 · management and general $1,003

  • 20 · Interest

    total $6,102 · management and general $6,102

  • 22 · Depreciation, depletion and amortization

    total $277,283 · program services $277,283

  • 23 · Insurance

    total $31,791 · program services $6,620 · management and general $25,171

  • 24a · Other expenses: OTHER EXPENSES

    total $103,474 · program services $35,549 · management and general $67,925

  • 24b · Other expenses: TELEPHONE

    total $29,755 · program services $26,780 · management and general $2,975

  • 24c · Other expenses: STAFF DEVELOPMENT

    total $9,111 · program services $0 · management and general $9,111

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,871,846 · end of year $3,399,902

  • 4 · Accounts receivable

    beginning of year $136,218 · end of year $497,952

  • 8 · Inventories for sale or use

    beginning of year $46,158 · end of year $54,157

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,204 · end of year $30,677

  • 10a · Land, buildings and equipment: cost or other basis

    $8,048,558

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,909,836

  • 10c · Land, buildings and equipment, net

    beginning of year $4,981,265 · end of year $6,138,722

  • 11 · Investments: publicly traded securities

    beginning of year $4,977,718 · end of year $5,340,388

  • 15 · Other assets

    beginning of year $39,391 · end of year $161,569

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,299,519 · end of year $2,407,624

  • 19 · Deferred revenue

    beginning of year $298,083 · end of year $270,377

  • 25 · Other liabilities

    beginning of year $111,730 · end of year $226,343

  • 27 · Net assets without donor restrictions

    beginning of year $12,373,169 · end of year $12,717,724

  • 28 · Net assets with donor restrictions

    beginning of year $1,299 · end of year $1,299

Mission and programs · 2022

Mission

TO OPERATE AND MANAGE PARAMOUNT THEATRE OF THE ARTS, A HISTORIC OAKLAND CALIFORNIA LANDMARK.

Activities or mission (Part I)

TO OPERATE AND MANAGE PARAMOUNT THEATRE OF THE ARTS, A HISTORIC CALIFORNIA LANDMARK.

  • PARAMOUNT THEATRE OF THE ARTS, INC. MANAGED AND OPERATED THE FACILITY FOR THE CITY OF OAKLAND, PROVIDING A PROFESSIONALLY OPERATED FACILITY FOR THE PRODUCTION OF EVENTS FOR THE FISCAL YEAR ENDED 6/30/23, INCLUDING CONCERTS AND OAKLAND BALLET.

    Expenses $3,529,366 · Revenue $3,785,459

As filed on the 2022 return.

Listed in Part VII

  • Margaret Grover

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • David P Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Clinton O Killian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Leslee Littleton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Thomas Hart

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Ray Leon

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0

  • Jennifer Mullin

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Leslee Stewart

    SUPPORTING GENERAL MANAGER

    Total calculated
    $195,153
    From this org
    $153,505
    From related orgs
    $0
    Other
    $41,648
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,505
    Bonus
    $0
    Other
    $0
    Deferred
    $17,056
    Nontaxable benefits
    $24,592
    Filer's total
    $195,153

  • Jason Blackwell

    GENERAL MANAGER

    Total calculated
    $139,386
    From this org
    $106,480
    From related orgs
    $0
    Other
    $32,906
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 February 2024
IRS schema version
2022v5.0
Source object
202410469349303081

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