Civic Intelligence

Paramount Arts Center Inc

EIN 61-1181883 • 501(c)3 • Ashland, KY

Profile

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.

Refreshing map…

1300 Winchester AveAshland, KY 41101

paramountartscenter.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

68th percentile

0.31x

Higher debt load relative to assets than 68% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.40x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

62nd percentile

11%

Higher net margin than 62% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

19th percentile

-5.2%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

31%

Faster revenue growth than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$5,594,538

Down $307,469 (-5.2%) from 2023

Liabilities

Down

$1,710,826

Down $765,224 (-31%) from 2023

Net Assets

Up

$3,883,712

Up $457,755 (+13%) from 2023

Operations
Liabilities / Revenue71st percentileNet Margin62nd percentile

Revenue

Up

$4,233,376

Up $1,012,638 (+31%) from 2023

Expenses

Down

$3,787,291

Down $33,774 (-0.9%) from 2023

Net Income

Up

$446,085

Up $1,046,412 (+174%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth19th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $8,352,649Liabilities 2011: $1,718,939Net Assets 2011: $6,633,7102011Assets 2012: $8,788,834Liabilities 2012: $2,442,900Net Assets 2012: $6,345,9342012Assets 2013: $8,569,303Liabilities 2013: $2,451,839Net Assets 2013: $6,117,4642013Assets 2014: $7,999,576Liabilities 2014: $2,327,128Net Assets 2014: $5,672,4482014Assets 2015: $7,613,634Liabilities 2015: $2,372,166Net Assets 2015: $5,241,4682015Assets 2016: $7,334,361Liabilities 2016: $2,251,715Net Assets 2016: $5,082,6462016Assets 2017: $7,317,127Liabilities 2017: $2,221,277Net Assets 2017: $5,095,8502017Assets 2018: $7,038,152Liabilities 2018: $2,017,338Net Assets 2018: $5,020,8142018Assets 2019: $6,733,756Liabilities 2019: $1,864,410Net Assets 2019: $4,869,3462019Assets 2020: $6,503,217Liabilities 2020: $2,011,158Net Assets 2020: $4,492,0592020Assets 2021: $6,501,760Liabilities 2021: $2,517,157Net Assets 2021: $3,984,6032021Assets 2022: $6,341,407Liabilities 2022: $2,347,853Net Assets 2022: $3,993,5542022Assets 2023: $5,902,007Liabilities 2023: $2,476,050Net Assets 2023: $3,425,9572023Assets 2024: $5,594,538Liabilities 2024: $1,710,826Net Assets 2024: $3,883,7122024

Highlighted filing

2024

Assets$5,594,538
Liabilities$1,710,826
Net Assets$3,883,712
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $2,009,7022011Expenses 2012: $2,001,6002012Revenue 2013: $1,767,519Expenses 2013: $1,992,004Net Income 2013: -$224,4852013Revenue 2014: $1,645,573Expenses 2014: $2,114,776Net Income 2014: -$469,2032014Revenue 2015: $1,885,863Expenses 2015: $2,316,942Net Income 2015: -$431,0792015Revenue 2016: $1,471,684Expenses 2016: $1,624,618Net Income 2016: -$152,9342016Revenue 2017: $1,673,680Expenses 2017: $1,687,537Net Income 2017: -$13,8572017Revenue 2018: $1,629,565Expenses 2018: $1,722,189Net Income 2018: -$92,6242018Revenue 2019: $1,534,243Expenses 2019: $1,698,375Net Income 2019: -$164,1322019Revenue 2020: $1,565,685Expenses 2020: $1,946,723Net Income 2020: -$381,0382020Revenue 2021: $855,969Expenses 2021: $1,433,826Net Income 2021: -$577,8572021Revenue 2022: $4,086,756Expenses 2022: $4,074,276Net Income 2022: $12,4802022Revenue 2023: $3,220,738Expenses 2023: $3,821,065Net Income 2023: -$600,3272023Revenue 2024: $4,233,376Expenses 2024: $3,787,291Net Income 2024: $446,0852024

Highlighted filing

2024

Revenue$4,233,376
Expenses$3,787,291
Net Income$446,085
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,594,538
Liabilities
$1,710,826
Net assets
$3,883,712
Revenue
$4,233,376
Expenses
$3,787,291
Net income
$446,085
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.59$1.71$3.88$4.23$3.79$0.45
2023Summary only. Only limited summary data is available for this year.$5.90$2.48$3.43$3.22$3.82$0.60
2022Summary only. Only limited summary data is available for this year.$6.34$2.35$3.99$4.09$4.07$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.50$2.52$3.98$0.86$1.43$0.58
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.50$2.01$4.49$1.57$1.95$0.38
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.73$1.86$4.87$1.53$1.70$0.16
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.04$2.02$5.02$1.63$1.72$0.09
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.32$2.22$5.10$1.67$1.69$0.01
2016Detailed filing. Detailed filing data is available for this year.$7.33$2.25$5.08$1.47$1.62$0.15
2015Summary only. Only limited summary data is available for this year.$7.61$2.37$5.24$1.89$2.32$0.43
2014Detailed filing. Detailed filing data is available for this year.$8.00$2.33$5.67$1.65$2.11$0.47
2013Summary only. Only limited summary data is available for this year.$8.57$2.45$6.12$1.77$1.99$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.79$2.44$6.35$2.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.35$1.72$6.63$2.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 6, 2025
Return Version
2023v6.0
Gross Receipts
$4,233,363
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,221,702$4,939,609▼ $282,093
Cash and Non-Interest-Bearing Accounts$230,134$225,505▼ $4,629
Prepaid Expenses and Deferred Charges$43,625$43,625→ $0
Inventories for Sale or Use$19,300$41,577▲ $22,277
Intangible Assets$42,908$40,523▼ $2,385
Total Assets$5,861,368$5,594,538▼ $266,830
Other Assets Total$303,699$303,699→ $0
Liabilities
Other Liabilities$1,695,529$773,862▼ $921,667
Accounts Payable and Accrued Expenses$216,341$553,970▲ $337,629
Deferred Revenue$511,871$382,994▼ $128,877
Total Liabilities$2,423,741$1,710,826▼ $712,915
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,129,008$3,575,093▲ $446,085
Net Assets With Donor Restrictions$308,619$308,619→ $0
Total Net Assets Fund Balance$3,437,627$3,883,712▲ $446,085
Total Liabilities and Net Assets / Fund Balance$5,861,368$5,594,538▼ $266,830

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,524,031$6,674,824$11,198,855
Equipment$265,578$446,215$711,793
Land$150,000-$150,000
Other Assets Org$303,699--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$308,618---$308,618
2022$270,511-▲ $12,737$-25,370$308,618
2021$325,241$500▲ $22,009$77,239$270,511
2020$325,657$34▲ $81,390$81,840$325,241
2019$319,938$500▲ $17,187$7,815$325,657
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Alice MartinDirector
Bill BoykinDirector
Brandy ClarkDirector
Brooke SeasorDirector
Chuck CharlesDirector
James KingDirector
Justin PruittDirector
Lance MccomisDirector
Leon BriggsDirector
Lloyd HudsonDirector
Mary Kay Mcginnis-ruarkDirector
Roger HallDirector
Sydney KeetonDirector
Michael HobbsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,722,927
Program Service Revenue
$2,443,179
Investment Income
$0
Other Revenue
$67,270
All Other Contributions
$669,635
Change in Net Assets
$446,085

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,233,376
Revenue Not Reported on Form 990
$-13
Total Revenue per Audited Statements
$4,233,363
Total Revenue per Form 990
$4,233,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,125,023
Salaries, Compensation, and Employee Benefits$662,268
Total Fundraising Expense$28,146
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$606,672-$606,672
Depreciation Depletion$284,511$2,384-$286,895
All Other Expenses$110,521$56,728$28,146$195,395
Advertising$117,171--$117,171
Occupancy$103,552--$103,552
Other Expenses$553$66,257-$66,257
Insurance$61,179--$61,179
Other Employee Benefits-$55,596-$55,596
Office Expenses$1,502$22,002-$23,504
Interest-$16,380-$16,380
Fees for Services Other-$12,029-$12,029
Total Functional Expenses$2,736,282$1,022,863$28,146$3,787,291

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,787,291
Total Expenses per Form 990$3,787,291
Total Expenses per Audited Statements$3,787,278
Expenses Not Reported on Form 990$-13
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,365
Professional Fundraising Fees$0
Fundraising Direct Expenses$-13
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$400,000
Note Payable$214,647
Other Liabilities$159,215
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 11B

“The form 990 is reviewed by an officer of the board and the executive director prior to filing.”

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

“The organization has a written conflict of interest policy. Conflicts of interest are reported on a situational basis and are consistently monitored and enforced in regards to the policy.”

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

“All compensation is reviewed and approved by the board of directors and the executive director.”

Form 990, Page 6, Part VI, Line 19

“The organization makes governing documents, policies, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Paramount Arts Center Inc
EIN
61-1181883
Phone
6063242175
Address
1300 WINCHESTER AVE, ASHLAND, KY 41101

Signing Officer

Name
Michael Hobbs
Title
Treasurer
Phone
6063243175
Signed
2025-05-06

Organization Details

Principal Officer
Michael Hobbs
Formed
1989
Legal Domicile
Ky
Voting Board Members
14
Independent Board Members
14
Employees
47
Volunteers
100

Preparer

Firm
Kelley Galloway Smith Goolsby Psc
Address
1200 CORPORATE COURT PO BOX 990, ASHLAND, KY 41105-0990
Preparer
Lori F Dearfield CPA
Phone
6063291811
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers help the paramount with fundraising events through committee work, event coordnation, paramount woman's association. The paramount also has several volunteers that work as ushers during entertainment events in the theater.”

Form 990, Part XI, Line 9

“Special event expenses included in net special events -13 loss on disposal of assets in exp 0 special events expense included in revenue 13 loss on disposal of assets incl. In revenues 0 net change in beneficial interest in assets held b 0”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Special event expenses included in net special events -13 loss on disposal of assets in exp 0”

Schedule D, Page 4, Part XII, Line 2D

“Special events expense included in revenue -13 loss on disposal of assets incl. In revenues 0”

Raw XML AppendixShowing 400 of 462 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0399458
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt05770227
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IRS990ScheduleA/PublicSupportPY170Pct00.91220
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OTHER ASSETS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OTHER LIABILITIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SPECIAL EVENT EXPENSES INCLUDED IN NET SPECIAL EVENTS -13 LOSS ON DISPOSAL OF ASSETS IN EXP 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENTS EXPENSE INCLUDED IN REVENUE -13 LOSS ON DISPOSAL OF ASSETS INCL. IN REVENUES 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS HELP THE PARAMOUNT WITH FUNDRAISING EVENTS THROUGH COMMITTEE WORK, EVENT COORDNATION, PARAMOUNT WOMAN'S ASSOCIATION. THE PARAMOUNT ALSO HAS SEVERAL VOLUNTEERS THAT WORK AS USHERS DURING ENTERTAINMENT EVENTS IN THE THEATER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY AN OFFICER OF THE BOARD AND THE EXECUTIVE DIRECTOR PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. CONFLICTS OF INTEREST ARE REPORTED ON A SITUATIONAL BASIS AND ARE CONSISTENTLY MONITORED AND ENFORCED IN REGARDS TO THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SPECIAL EVENT EXPENSES INCLUDED IN NET SPECIAL EVENTS -13 LOSS ON DISPOSAL OF ASSETS IN EXP 0 SPECIAL EVENTS EXPENSE INCLUDED IN REVENUE 13 LOSS ON DISPOSAL OF ASSETS INCL. IN REVENUES 0 NET CHANGE IN BENEFICIAL INTEREST IN ASSETS HELD B 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TotalAssetsGrp/EOYAmt05594538

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