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Nonprofiteer
← HISTORIC PARAMOUNT THEATRE INC

Form 990 for tax year 2023

Filed by HISTORIC PARAMOUNT THEATRE INC.

Totals

Total revenue
$1,537,948
Total expenses
$1,722,007
Contributions and grants received
$459,995
Grants paid
$0
Program service revenue
$1,071,264
Investment income
$4,084
Other revenue
$2,605
Total assets, end of year
$1,000,832
Total liabilities, end of year
$205,025
Net assets or fund balances, end of year
$795,807
Program services expenses (Part IX)
$1,526,904
Management and general expenses
$179,569
Fundraising expenses
$15,534
Program service expenses (Part III)
$1,526,904

Program services were 88.7% 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

    $459,995

  • 2a · Program service revenue: Theatre Rental

    total $247,675 · related or exempt $247,675

  • 2b · Program service revenue: Theatre Productions

    total $537,202 · related or exempt $537,202

  • 2c · Program service revenue: Movie Ticket Sales

    total $71,477 · related or exempt $71,477

  • 2d · Program service revenue: Concession Stand

    total $214,910 · related or exempt $214,910

  • 3 · Investment income

    total $4,084 · excluded $4,084

  • 11a · Other revenue: Miscellaneous

    total $2,605 · related or exempt $2,605

  • 11e · Other revenue, total

    $2,605

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $115,001 · program services $92,001 · management and general $17,250 · fundraising $5,750

  • 7 · Other salaries and wages

    total $366,616 · program services $338,631 · management and general $26,421 · fundraising $1,564

  • 9 · Other employee benefits

    total $128,193 · program services $111,523 · management and general $14,279 · fundraising $2,391

  • 10 · Payroll taxes

    total $37,248 · program services $33,305 · management and general $3,377 · fundraising $566

  • 11c · Fees: accounting

    total $12,205 · management and general $12,205

  • 12 · Advertising and promotion

    total $10,526 · program services $5,263 · fundraising $5,263

  • 16 · Occupancy

    total $218,061 · program services $199,187 · management and general $18,874

  • 19 · Conferences, conventions and meetings

    total $5,096 · program services $5,096

  • 22 · Depreciation, depletion and amortization

    total $195,785 · program services $156,628 · management and general $39,157

  • 23 · Insurance

    total $22,735 · program services $20,234 · management and general $2,501

  • 24a · Other expenses: Special Event Costs

    total $345,324 · program services $345,324

  • 24b · Other expenses: Movie Costs

    total $61,513 · program services $61,513

  • 24c · Other expenses: Concession Stand Costs

    total $67,608 · program services $67,608

  • 24d · Other expenses: Supplies

    total $29,970 · program services $20,979 · management and general $8,991

  • 24e · All other expenses

    total $106,126 · program services $69,612 · management and general $36,514

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $395,502 · end of year $273,140

  • 4 · Accounts receivable

    beginning of year $27,337 · end of year $14,009

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,390 · end of year $20,964

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

    $1,006,500

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

    $696,910

  • 10c · Land, buildings and equipment, net

    beginning of year $490,961 · end of year $309,590

  • 15 · Other assets

    beginning of year $240,764 · end of year $383,129

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,609 · end of year $23,272

  • 19 · Deferred revenue

    beginning of year $62,272 · end of year $28,200

  • 25 · Other liabilities

    beginning of year $22,064 · end of year $153,553

  • 27 · Net assets without donor restrictions

    beginning of year $801,949 · end of year $761,657

  • 28 · Net assets with donor restrictions

    beginning of year $290,060 · end of year $34,150

Mission and programs · 2023

Mission

Our mission is to manage and promote the Historic Paramount Theatre to benefit the citizens of Abilene, Texas and the sourrounding area.

  • In managing and preserving the Historic Paramount Theatre to benefit the citizens of Abilene, Texas and the surrounding areas, we provide the annual Paramount Film Series and other special film series; our 24FPS International Short Film Festival; Paramount Productions: live theatrical experiences featuring youth, amateur, and professional artists on our landmark stage; facility rentals for live theatre, touring shows, concerts, film screenings, fundraisers, special events, and weddings; and we provide a home for a wide range of local and regional arts and educational organizations, including Abilene Ballet Theatre, the Abilene Opera Association, the Abilene Community Band, and Celebration Singers.

    Expenses $1,526,904 · Revenue $1,528,460

As filed on the 2023 return.

Listed in Part VII

  • George Levesque

    Executive Director

    Total calculated
    $112,906
    From this org
    $112,906
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jay Lester

    Director

    Total calculated
    $0
    Hours/week
    1

  • Forrest McMillan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Melody Hunt

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joe Biles

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lynn Wilkinson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Bourdon Wooten

    Director

    Total calculated
    $0
    Hours/week
    1

  • Omar Ortiz

    Director

    Total calculated
    $0
    Hours/week
    1

  • Andrea Smiddy-Schlagel

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jasmine McCabe-Gossett

    Director

    Total calculated
    $0
    Hours/week
    1

  • Matt Mercer

    Director

    Total calculated
    $0
    Hours/week
    1

  • Casey Hatcher

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tiffany Gutierrez

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeff Duncan

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Leah Doty

    Past Chair

    Total calculated
    $0
    Hours/week
    2

  • Steve Stovall

    Vice Chair Chair Elect

    Total calculated
    $0
    Hours/week
    2

  • Edward Greenlee

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Sandra Harper

    Secretary

    Total calculated
    $0
    Hours/week
    2

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
2023
Filed
11 February 2025
IRS schema version
2023v6.0
Source object
202510459349300931

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