Civic Intelligence

Historic Paramount Theatre Inc.

990 • Fiscal year 2021 • EIN 06-1672774

Apr 01, 2020 to Mar 31, 2021 • Filed on Nov 22, 2021

Organization Profileparamount-abilene.org
352 Cypress StreetAbilene, TX 79601

(325) 676-9620

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.04x

Higher debt load relative to assets than 54% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

55th percentile

0.05x

Higher debt load relative to revenue than 55% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

35th percentile

3.7%

Higher net margin than 35% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

81st percentile

$79,040

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 16.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

55th percentile

12%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

12th percentile

-29%

Faster revenue growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$641,192

Up $70,010 (+12%) from 2020

Net Assets

Up

$617,844

Up $71,850 (+13%) from 2020

Liabilities

Down

$23,348

Down $1,840 (-7.3%) from 2020

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin35th percentile

Revenue

Down

$492,842

Down $198,156 (-29%) from 2020

Expenses

Down

$474,377

Down $180,532 (-28%) from 2020

Net Income

Down

$18,465

Down $17,624 (-49%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2012: $319,667Liabilities 2012: $18,421Net Assets 2012: $301,2462012Assets 2013: $395,636Liabilities 2013: $33,859Net Assets 2013: $361,7772013Assets 2014: $417,942Liabilities 2014: $19,249Net Assets 2014: $398,6932014Assets 2015: $526,722Liabilities 2015: $28,588Net Assets 2015: $498,1342015Assets 2016: $492,956Liabilities 2016: $21,996Net Assets 2016: $470,9602016Assets 2017: $471,780Liabilities 2017: $19,553Net Assets 2017: $452,2272017Assets 2018: $534,149Liabilities 2018: $21,236Net Assets 2018: $512,9132018Assets 2019: $541,063Liabilities 2019: $23,093Net Assets 2019: $517,9702019Assets 2020: $571,182Liabilities 2020: $25,188Net Assets 2020: $545,9942020Assets 2021: $641,192Liabilities 2021: $23,348Net Assets 2021: $617,8442021Assets 2022: $869,981Liabilities 2022: $20,957Net Assets 2022: $849,0242022Assets 2023: $1,183,954Liabilities 2023: $91,945Net Assets 2023: $1,092,0092023Assets 2024: $1,000,832Liabilities 2024: $205,025Net Assets 2024: $795,8072024Assets 2025: $1,490,843Liabilities 2025: $171,002Net Assets 2025: $1,319,8412025

Highlighted filing

2021

Assets$641,192
Liabilities$23,348
Net Assets$617,844
Open 2021 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $541,139Expenses 2012: $511,166Net Income 2012: $29,9732012Revenue 2013: $520,531Expenses 2013: $460,535Net Income 2013: $59,9962013Revenue 2014: $542,887Expenses 2014: $506,666Net Income 2014: $36,2212014Revenue 2015: $587,596Expenses 2015: $488,478Net Income 2015: $99,1182015Revenue 2016: $462,450Expenses 2016: $489,408Net Income 2016: -$26,9582016Revenue 2017: $467,392Expenses 2017: $486,863Net Income 2017: -$19,4712017Revenue 2018: $628,859Expenses 2018: $569,110Net Income 2018: $59,7492018Revenue 2019: $626,750Expenses 2019: $621,754Net Income 2019: $4,9962019Revenue 2020: $690,998Expenses 2020: $654,909Net Income 2020: $36,0892020Revenue 2021: $492,842Expenses 2021: $474,377Net Income 2021: $18,4652021Revenue 2022: $972,991Expenses 2022: $751,052Net Income 2022: $221,9392022Revenue 2023: $1,349,962Expenses 2023: $1,099,836Net Income 2023: $250,1262023Revenue 2024: $1,537,948Expenses 2024: $1,722,007Net Income 2024: -$184,0592024Revenue 2025: $2,076,895Expenses 2025: $1,580,929Net Income 2025: $495,9662025

Highlighted filing

2021

Revenue$492,842
Expenses$474,377
Net Income$18,465
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2020 to Mar 31, 2021
Signed
Nov 22, 2021
Return Version
2020v4.0
Gross Receipts
$492,842
Mission and Program Overview

Mission

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

The mission is to manage and preserve the Historic Paramount Theatre so that it might benefit the citizens of Abilene and the surrounding areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$270,881$347,738▲ $76,857
Land, Buildings, and Equipment, Net$164,403$137,037▼ $27,366
Prepaid Expenses and Deferred Charges$20,770$9,756▼ $11,014
Accounts Receivable$11,634$582▼ $11,052
Total Assets$571,182$641,192▲ $70,010
Other Assets Total$103,494$146,079▲ $42,585
Liabilities
Deferred Revenue$16,100$13,650▼ $2,450
Accounts Payable and Accrued Expenses$9,088$9,698▲ $610
Total Liabilities$25,188$23,348▼ $1,840
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$392,247$422,659▲ $30,412
Net Assets With Donor Restrictions$153,747$195,185▲ $41,438
Total Net Assets Fund Balance$545,994$617,844▲ $71,850
Total Liabilities and Net Assets / Fund Balance$571,182$641,192▲ $70,010

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$33,429$301,019$334,448
Other Land Buildings$41,007$67,816$108,823
Leasehold Improvements$62,601$40,598$103,199
Other Assets Org$127,322--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$103,494$200▲ $43,421-$146,079
2019$8,559$106,200▼ $10,295-$103,494
2018$8,498-▲ $124-$8,559
2017$7,561-▲ $999-$8,498
2016$6,823-▲ $792-$7,561
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
G LevesqueEx DirectorFT$79,040$79,040

Board Members and Trustees

NameTitle
S LambChair
M MercerChair Elect
J LesterPast Chair
A SchlagelDirector
C EtterDirector
E GreenleeDirector
F McMillanDirector
L HaynesDirector
L WilkinsonDirector
M HuntDirector
O OrtizDirector
P GarciaDirector
R SutphenDirector
S StovallDirector
T GravesDirector
T GutierrezDirector
L DotySecretary
J DuncanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$351,733
Program Service Revenue
$140,721
Investment Income
$193
Other Revenue
$195
All Other Contributions
$282,292
Change in Net Assets
$18,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$492,842
Revenue Not Reported on Form 990
$53,385
Total Revenue per Audited Statements
$546,227
Total Revenue per Form 990
$492,842
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$293,243
Other Expenses$181,134
Total Fundraising Expense$6,261
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$118,308$19,760$1,563$139,631
Current Officers, Directors, Trustees, and Key Employees$63,232$11,856$3,952$79,040
Other Employee Benefits$45,364$11,739$577$57,680
Occupancy$35,127$8,156-$43,283
All Other Expenses$24,499$9,966-$34,465
Depreciation Depletion$23,281$5,820-$29,101
Payroll Taxes$14,696$2,027$169$16,892
Insurance$14,587--$14,587
Advertising$8,351--$8,351
Fees for Services Accounting-$6,960-$6,960
Other Expenses$3,946--$3,946
Total Functional Expenses$391,832$76,284$6,261$474,377

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$474,377
Total Expenses per Audited Statements$474,377
Total Expenses per Form 990$474,377
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B

“A copy of the Form 990 was presented to the Board of Directors prior to submission.”

Form 990, Part VI, Line 12C

“Every Board member is required to submit a signed conflict of interest statement to be reviewed for potential conflicts”

Form 990, Part VI, Line 15A

“Compensation is reviewed by the Board of Directors annually.”

Form 990, Part VI, Line 19

“Each year the Paramount has an independent audit that is presented to the Board for approval. Governing documents are held at 352 Cypress St., Abilene,TX. Available upon request.”

Filing and Contact Details

Filer

Filer Name
Historic Paramount Theatre Inc
EIN
06-1672774
Address
352 Cypress Street, Abilene, TX 79601

Signing Officer

Name
George Levesque
Title
Executive Director
Signed
2021-11-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Levesque
Formed
2002
Legal Domicile
TX
Voting Board Members
18
Independent Board Members
18
Employees
48
Volunteers
25

Preparer

Firm
Borden Duffel PC
Address
226 South Leggett Dr, Abilene, TX 79605
Preparer
Sharmon Daley CPA
Phone
3256731040
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Amount represents increase in Beneficial Interest in Assets Held by Others.”

Financial Statement Notes

Schedule D, Part V, Line 4

“The endowment funds will be used to provide organizational s”

Schedule D, Part X, Line 2

“For the year ended March 31, 2021, management has determined that there are no material uncertain tax positions.”

Schedule D, Part XI, Line 2D - Other

“Amount represents increase in Beneficial Interest in Assets Held by Others.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Past Chair
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Ex Director
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IRS990/FormationYr02002
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IRS990/MissionDesc0Manage and preserve the Historic Paramount Theatre so that it might benefit the citizens of Abilene and the surrounding areas.
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IRS990/OtherExpensesGrp/Desc1TheatreProductionsExp
IRS990/OtherExpensesGrp/Desc2Concession Stand Exp
IRS990/OtherExpensesGrp/Desc3Building Renter Costs
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IRS990/OtherExpensesGrp/ProgramServicesAmt210030
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IRS990/ProgramServiceRevenueGrp/BusinessCd2711110
IRS990/ProgramServiceRevenueGrp/BusinessCd3711110
IRS990/ProgramServiceRevenueGrp/Desc0Theatre Rental
IRS990/ProgramServiceRevenueGrp/Desc1Theatre Productions
IRS990/ProgramServiceRevenueGrp/Desc2Movie Ticket Sales
IRS990/ProgramServiceRevenueGrp/Desc3Concession Stand
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt116787
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0140916
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Amount represents gift card activation fees.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part III, Section B, Line 12 Other Income
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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$641,192
Liabilities
$23,348
Net assets
$617,844
Revenue
$492,842
Expenses
$474,377
Net income
$18,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.49$0.17$1.32$2.08$1.58$0.50
2024Detailed filing. Detailed filing data is available for this year.$1.00$0.21$0.80$1.54$1.72$0.18
2023Detailed filing. Detailed filing data is available for this year.$1.18$0.09$1.09$1.35$1.10$0.25
2022Detailed filing. Detailed filing data is available for this year.$0.87$0.02$0.85$0.97$0.75$0.22
2021Detailed filing. Detailed filing data is available for this year.$0.64$0.02$0.62$0.49$0.47$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.57$0.03$0.55$0.69$0.65$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.54$0.02$0.52$0.63$0.62$0.00
2018Summary only. Only limited summary data is available for this year.$0.53$0.02$0.51$0.63$0.57$0.06
2017Summary only. Only limited summary data is available for this year.$0.47$0.02$0.45$0.47$0.49$0.02
2016Summary only. Only limited summary data is available for this year.$0.49$0.02$0.47$0.46$0.49$0.03
2015Summary only. Only limited summary data is available for this year.$0.53$0.03$0.50$0.59$0.49$0.10
2014Summary only. Only limited summary data is available for this year.$0.42$0.02$0.40$0.54$0.51$0.04
2013Summary only. Only limited summary data is available for this year.$0.40$0.03$0.36$0.52$0.46$0.06
2012Summary only. Only limited summary data is available for this year.$0.32$0.02$0.30$0.54$0.51$0.03