Civic Intelligence

The Paramount Theater of Charlottesville Inc

990 • Fiscal year 2023 • EIN 20-1562018

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 19, 2024

215 E Main StreetCharlottesville, VA 22902

(434) 979-1922

Siviq Scores

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

Liabilities / Assets

78th percentile

0.36x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.20x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

18th percentile

-17%

Higher net margin than 18% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

58th percentile

$80,125

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

9th percentile

-17%

Faster asset growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

24th percentile

-11%

Faster revenue growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$1,877,648

Down $371,192 (-17%) from 2022

Net Assets

Down

$1,193,143

Down $591,118 (-33%) from 2022

Liabilities

Up

$684,505

Up $219,926 (+47%) from 2022

Revenue

Down

$3,390,424

Down $431,909 (-11%) from 2022

Expenses

Up

$3,955,594

Up $1,331,698 (+51%) from 2022

Net Income

Down

-$565,170

Down $1,763,607 (-147%) from 2022

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $250,957Liabilities 2011: $733,426Net Assets 2011: -$482,4692011Assets 2012: $298,369Liabilities 2012: $612,100Net Assets 2012: -$313,7312012Assets 2013: $469,484Liabilities 2013: $713,488Net Assets 2013: -$244,0042013Assets 2014: $386,893Liabilities 2014: $203,692Net Assets 2014: $183,2012014Assets 2015: $419,544Liabilities 2015: $340,095Net Assets 2015: $79,4492015Assets 2016: $492,068Liabilities 2016: $416,603Net Assets 2016: $75,4652016Assets 2017: $592,658Liabilities 2017: $354,755Net Assets 2017: $237,9032017Assets 2018: $758,915Liabilities 2018: $387,369Net Assets 2018: $371,5462018Assets 2019: $1,007,860Liabilities 2019: $580,622Net Assets 2019: $427,2382019Assets 2020: $857,167Liabilities 2020: $673,107Net Assets 2020: $184,0602020Assets 2021: $1,595,025Liabilities 2021: $1,009,201Net Assets 2021: $585,8242021Assets 2022: $2,248,840Liabilities 2022: $464,579Net Assets 2022: $1,784,2612022Assets 2023: $1,877,648Liabilities 2023: $684,505Net Assets 2023: $1,193,1432023Assets 2024: $2,239,121Liabilities 2024: $849,816Net Assets 2024: $1,389,3052024

Highlighted filing

2023

Assets$1,877,648
Liabilities$684,505
Net Assets$1,193,143

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $2,170,6562011Expenses 2012: $1,721,7902012Expenses 2013: $2,248,9762013Revenue 2014: $2,585,057Expenses 2014: $2,157,852Net Income 2014: $427,2052014Revenue 2015: $2,547,146Expenses 2015: $2,575,217Net Income 2015: -$28,0712015Revenue 2016: $2,337,660Expenses 2016: $2,341,644Net Income 2016: -$3,9842016Revenue 2017: $2,706,675Expenses 2017: $2,544,237Net Income 2017: $162,4382017Revenue 2018: $2,790,113Expenses 2018: $2,656,470Net Income 2018: $133,6432018Revenue 2019: $2,633,216Expenses 2019: $2,590,199Net Income 2019: $43,0172019Revenue 2020: $3,225,051Expenses 2020: $3,468,229Net Income 2020: -$243,1782020Revenue 2021: $1,967,019Expenses 2021: $1,565,255Net Income 2021: $401,7642021Revenue 2022: $3,822,333Expenses 2022: $2,623,896Net Income 2022: $1,198,4372022Revenue 2023: $3,390,424Expenses 2023: $3,955,594Net Income 2023: -$565,1702023Revenue 2024: $3,743,554Expenses 2024: $3,547,392Net Income 2024: $196,1622024

Highlighted filing

2023

Revenue$3,390,424
Expenses$3,955,594
Net Income-$565,170
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 19, 2024
Return Version
2022v5.0
Gross Receipts
$3,437,358
Mission and Program Overview

Mission

The mission of the paramount theater of charlottesville, inc. Is to operate the restored historic paramount theater, located in downtown charlottesville, va for the artistic, educational, and charitable benefit of its community, including the entire central virginia area.

The mission of the historic nonprofit paramount theater is to educate, enchant, enrich, and enlighten through the power of the arts by providing high-quality programming and accessibility for the artistic and charitable benefit of our entire community while driving economic vitality for charlottesville, albemarle, and the central virginia region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,934,141$1,380,723▼ $553,418
Accounts Receivable$42,917$223,238▲ $180,321
Land, Buildings, and Equipment, Net$175,402$159,697▼ $15,705
Prepaid Expenses and Deferred Charges$37,022$61,430▲ $24,408
Pledges and Grants Receivable$36,903$36,641▼ $262
Inventories for Sale or Use$22,455$15,919▼ $6,536
Total Assets$2,248,840$1,877,648▼ $371,192
Liabilities
Deferred Revenue$311,215$575,681▲ $264,466
Accounts Payable and Accrued Expenses$122,996$101,513▼ $21,483
Other Liabilities$30,368$7,311▼ $23,057
Total Liabilities$464,579$684,505▲ $219,926
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,784,261$1,193,143▼ $591,118
Total Net Assets Fund Balance$1,784,261$1,193,143▼ $591,118
Total Liabilities and Net Assets / Fund Balance$2,248,840$1,877,648▼ $371,192

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$159,697$293,197$452,894
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Taylor L CashwellDirector ofPT$64,100$16,025$80,125
Julie a MontrossExecutive DiPT$61,291$15,323$76,614

Board Members and Trustees

NameTitle
Carolyn RaineyChair
Adrienne WoodardDirector
Barbara SiegDirector
Chris HoldenDirector
Craig LittlepageDirector
Elsie ThompsonDirector
Gary TaylorDirector
Greg GrahamDirector
Jackie BradleyDirector
John PritzlaffDirector
John SteeleDirector
Laurie TurnerDirector
Lorenzo DickersonDirector
Mark HahnDirector
Mj Abbitt-sushkaDirector
Patti CaryDirector
Quinton HarrellDirector
Rob JiranekDirector
Sheldon AndersonDirector
Sherri MooreDirector
Will TrinkleDirector
David T GiesImmediate Pa
Amanda JonesMember-at-la
Carla HallmanMember-at-la
Cary TurnerMember-at-la
Pamela EdmondsMember-at-la
Sterling H FrankSecretary
Dave PaulsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,381,941
Program Service Revenue
$1,986,761
Investment Income
$35,766
Other Revenue
$-14,044
All Other Contributions
$945,070
Change in Net Assets
$-565,170

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$25,765
Total Noncash Contributions1$25,765

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,390,424
Revenue Not Reported on Form 990
$26,300
Total Revenue per Audited Statements
$3,416,724
Total Revenue per Form 990
$3,390,424
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,385,826
Salaries, Compensation, and Employee Benefits$1,569,768
Total Fundraising Expense$190,513
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$930,917$40,875$106,783$1,078,575
Occupancy$193,828$8,534$10,431$212,793
Other Employee Benefits$153,868$10,796$11,179$175,843
Current Officers, Directors, Trustees, and Key Employees$134,501$6,070$16,168$156,739
Payroll Taxes$82,790$3,501$9,230$95,521
Pension Plan Contributions$61,704$558$828$63,090
Office Expenses$38,134$254$310$38,698
Other Expenses$29,139-$33,266$29,139
Depreciation Depletion$19,348$432$1,516$21,296
Conferences and Meetings$21,264-$10$21,274
Information Technology$18,034$84$102$18,220
Fees for Services Accounting$17,252--$17,252
Fees for Services Other$12,200-$83$12,283
All Other Expenses$9,928$52$94$10,074
Insurance$8,149$139$170$8,458
Total Functional Expenses$3,693,786$71,295$190,513$3,955,594

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,981,894
Expenses per Audited Statements$3,955,594
Total Expenses per Form 990$3,955,594
Expenses Not Reported on Form 990$26,300
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$46,934
Fundraising Gross Income$21,750
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Grand Marquee G$165,739$21,750-$21,750
Total Events$165,739$21,750$46,934$-25,184
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Paramount Foundation$7,311
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 1A

The executive committee shall have and exercise the authority of the board to act on behalf of the paramount in any matter permitted by law whenever the board is not in session.

Form 990, Page 6, Part VI, Line 2

Cary turner laurie turner member-at-la director married

Form 990, Page 6, Part VI, Line 11B

The 990 will be reviewed by members of the executive committee before filing.

Form 990, Page 6, Part VI, Line 12C

Directors are required to review and sign an annual conflict of interest statement. Also, all employees must sign the conflict of interest policy upon hiring.

Form 990, Page 6, Part VI, Line 15A

The executive director's salary is established in position's compensation package, executed upon the hire date of the executive director. Any changes made to the executive director's salary require review and recommendation by the board chair, and are subsequently considered and voted on by the full board through the budget approval process.

Form 990, Page 6, Part VI, Line 15B

The aggregate budget for all staff salaries is approved by the board of directors. The salary for the director of finanace is included with, and follows the same compensation process as, all other staff.

Form 990, Page 6, Part VI, Line 19

The paramount makes its governing documents and conflict of interest policy available to the public upon request. Its form 990 is made available to the public upon request and on guidestar's website.

Filing and Contact Details

Filer

Filer Name
The Paramount Theater of
EIN
20-1562018
Phone
4349791922
Address
215 E MAIN STREET, CHARLOTTESVILLE, VA 22902

Signing Officer

Name
Dave Paulson
Title
Treasurer
Phone
4349791922
Signed
2024-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julie a Montross
Formed
2004
Legal Domicile
Va
Voting Board Members
27
Independent Board Members
27
Employees
38
Volunteers
171

Preparer

Firm
Robinson Farmer Cox Associates
Address
530 WESTFIELD RD, CHARLOTTESVILLE, VA 22901-1726
Preparer
Michael E Lupton
Phone
4349738314
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of the historic nonprofit paramount theater is to educate, enchant, enrich, and enlighten through the power of the arts by providing high-quality programming and accessibility for the artistic and charitable benefit of our entire community while driving economic vitality for charlottesville, albemarle, and the central virginia region.

Form 990, Page 2, Part III, Line 4A

Theater/production: the paramount theater of charlottesville, virginia is a nonprofit performing arts center dedicated to presenting a wide range of education, arts, civic and entertainment events for diverse community audiences in the restored historic paramount theater. From july 2022 to june 2023, it hosted 264 events with 87,552 total attendees. Since it re-opened in 2004, the paramount has welcomed more than 1.4 million visitors to thousands of events including live performances, movies, hd screenings and broadcasts, guided historic tours, meetings, and free community events. The 92-year-old historic paramount theater continues to serve as "charlottesville's living room," as the theater's staff and board are committed to providing safe and diverse entertainment for all guests, staff, and volunteers as it continues to serve as a beacon of inspiration to the entire local and visiting community.

Form 990, Page 2, Part III, Line 4B

Arts education: the arts education program presents school-day educational performances for students in grades pre-k through 12 from central virginia to experience live performing arts in the historic paramount theater. We are committed to offering programming that is artistically rich and reflects diverse cultures and races, and we hold steadfast to our mission of ensuring access for all area youth. Students from all schools, income levels, and backgrounds come together at the paramount, uniquely bridging a broad spectrum of participants to share in a common experience. Our programming can include q&a with performers, in-school workshops, masterclasses, multi-day artist residencies, and collaborative opportunities with local artists. All programming connects to virginia standards of learning as well as social emotional learning standards and includes study guides. The 2022 -2023 arts education season presented 15 live educational performances to 11,836 students and educators from area public, private, and home school groups. All participating students and teachers received subsidized ticket pricing, with 2,310 students receiving free admission based on their eligibility for the federal free and reduced public school meals program. The feedback from educators and students about these arts education experiences is overwhelmingly positive and appreciative, from the educational value and diverse content to the level of quality and artistry with each production. Financial assistance ensures all students can experience field trips to the paramount, which are a big highlight for teachers and students - and for many on show days, become "the best days ever" "bringing students from disparate neighborhoods and backgrounds together under one roof physically unifies us. In these instances, the paramount becomes a safe space that welcomes all regardless of race, class, ability, gender, or any other label that might separate us. I feel proud to play a role in bringing students to experience the arts in this context. I feel hopeful that we are planting the seeds for the future." fine & performing arts, charlottesville city schools "the paramount provides opportunities for students to connect their experience of performing arts events to their learning in the classroom, to one another, and to the fabric of our community. There is no comparison to the joy and energy that children share when attending events together and in a space that holds such cultural history. We are so fortunate to have access to this amazing resource." visual and performing arts, albemarle county public schools

Form 990, Page 2, Part III, Line 4C

Community access: the mary p. Reese community access fund (mprcaf) was established to ensure all members of our community have access to the arts. The paramount theater partners with dozens of area agencies and nonprofit groups such as big brothers big sisters, boys & girls club of central virginia, community attention foster families, habitat for humanity, innisfree, international neighbors, paraderest, readykids; as well as school groups and many other community organizations to offer complimentary tickets to all paramount presented events. This fiscal year, 700 community members from 63 non- profits received complimentary tickets to 94 events. In addition, 26 local nonprofit organizations hosted a wide range of performances, speakers, and fundraising events at the paramount theater,subsidized by the mprcaf, and further supported by thousands of event attendees. Among these groups were the virginia film festival, festival of the book, light house studio, literacy volunteers, charlottesville band, charlottesville opera, uva's office for diversity, equity, and inclusion, and many more. The mprcaf also helps make it possible to host free community events each year, including movie screenings, historical theater tours, and live sporting events on the big screen; and to ensure an accessible environment with open captioning, interpreters, and sensory-friendly programming. During this period, we welcomed 3,850 members of our community and beyond for 37 free events. The paramount theater's dedication to expanding and deepening engagement with all pockets of the community is unwavering through the mprcaf. We received heartwarming feedback from participating community partners to share its impact: "we really appreciate these ticket offerings and feel grateful to be the beneficiaries of the generosity of those who sponsor this program that reaches into all of our community." community partner liaison, innisfree "thank you so much for this opportunity and the desire to connect with hispanic community members. We were very happy to attend an event that was not only popular and in demand, but also had a connection with the community we focus on. It was a beautiful experience for whole families to share together, one that would not have been possible otherwise. We are grateful and hope these outreach and relationship building efforts will continue." community partner liaison, sin barreras without borders "we were thrilled to attend the show while being exposed to the unparalleled beauty of the paramount it was the perfect activity for our neighbors from african nations and their matched volunteers, and nellie the neighbor bus was packed, and anticipation built the whole ride long the paramount is amazing, and we are so grateful for this partnership" community partner liaison, international neighbors

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER-AT-LA
IRS990/Form990PartVIISectionAGrp/TitleTxt4MEMBER-AT-LA
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER-AT-LA
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER-AT-LA
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/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27IMMEDIATE PA
IRS990/Form990PartVIISectionAGrp/TitleTxt28EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF
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IRS990/MissionDesc0THE MISSION OF THE HISTORIC NONPROFIT PARAMOUNT THEATER IS TO EDUCATE, ENCHANT, ENRICH, AND ENLIGHTEN THROUGH THE POWER OF THE ARTS BY PROVIDING HIGH-QUALITY PROGRAMMING AND ACCESSIBILITY FOR THE ARTISTIC AND CHARITABLE BENEFIT OF OUR ENTIRE COMMUNITY WHILE DRIVING ECONOMIC VITALITY FOR CHARLOTTESVILLE, ALBEMARLE, AND THE CENTRAL VIRGINIA REGION.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.24$0.85$1.39$3.74$3.55$0.20
2023Detailed filing. Detailed filing data is available for this year.$1.88$0.68$1.19$3.39$3.96$0.57
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$0.46$1.78$3.82$2.62$1.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$1.01$0.59$1.97$1.57$0.40
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.67$0.18$3.23$3.47$0.24
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.58$0.43$2.63$2.59$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.39$0.37$2.79$2.66$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.35$0.24$2.71$2.54$0.16
2016Detailed filing. Detailed filing data is available for this year.$0.49$0.42$0.08$2.34$2.34$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.42$0.34$0.08$2.55$2.58$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.39$0.20$0.18$2.59$2.16$0.43
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.71$0.24$2.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.61$0.31$1.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.73$0.48$2.17