Civic Intelligence

Paramount Arts Center Inc.

990 • Fiscal year 2016 • EIN 61-1181883

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 13, 2017

Organization ProfilePARAMOUNTARTSCENTER.COM
PO Box 1546Ashland, KY 41105-1546

(606) 324-2175

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.31x

Higher debt load relative to assets than 62% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

1.53x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

23rd percentile

-3.7%

Faster asset growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

14th percentile

-22%

Faster revenue growth than 14% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$7,334,361

Down $279,273 (-3.7%) from 2015

Net Assets

Down

$5,082,646

Down $158,822 (-3.0%) from 2015

Liabilities

Down

$2,251,715

Down $120,451 (-5.1%) from 2015

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin20th percentile

Revenue

Down

$1,471,684

Down $414,179 (-22%) from 2015

Expenses

Down

$1,624,618

Down $692,324 (-30%) from 2015

Net Income

Up

-$152,934

Up $278,145 (+65%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$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

2016

Assets$7,334,361
Liabilities$2,251,715
Net Assets$5,082,646
Open 2016 Filing

Operations Trend

Revenue Growth14th percentile

Revenue, expenses, and net income across loaded years, with this 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

2016

Revenue$1,471,684
Expenses$1,624,618
Net Income-$152,934
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 13, 2017
Return Version
2015v3.0
Gross Receipts
$1,633,231
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$6,994,047$6,727,065▼ $266,982
Cash and Non-Interest-Bearing Accounts$164,057$208,314▲ $44,257
Savings and Temporary Cash Investments$127,307$84,139▼ $43,168
Intangible Assets$61,976$59,592▼ $2,384
Prepaid Expenses and Deferred Charges$19,280$31,932▲ $12,652
Accounts Receivable$36,756$21,998▼ $14,758
Inventories for Sale or Use$8,282$8,426▲ $144
Total Assets$7,613,634$7,334,361▼ $279,273
Other Assets Total$201,929$192,895▼ $9,034
Liabilities
Other Liabilities$1,959,215$1,869,215▼ $90,000
Deferred Revenue$129,414$183,012▲ $53,598
Unsecured Notes Loans Payable$142,000$133,000▼ $9,000
Accounts Payable and Accrued Expenses$141,537$66,488▼ $75,049
Total Liabilities$2,372,166$2,251,715▼ $120,451
Net Assets / Fund Balance
Unrestricted Net Assets$4,793,974$4,729,413▼ $64,561
Temporarily Rstr Net Assets$271,832$177,071▼ $94,761
Permanently Rstr Net Assets$175,662$176,162▲ $500
Total Net Assets Fund Balance$5,241,468$5,082,646▼ $158,822
Total Liabilities and Net Assets / Fund Balance$7,613,634$7,334,361▼ $279,273

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,177,780$4,637,246$10,815,026
Equipment$399,285$304,613$703,898
Land$150,000-$150,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$277,940$500▼ $3,978$5,368$269,094
2014$318,552$1,000▲ $90$41,702$277,940
2013$287,656$3,000▲ $27,063$4,541$313,178
2012$130,284$146,847▲ $16,788$6,263$287,656
2011$125,575$4,709--$130,284
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Bruce LesliePresident
Kim MccannPresident
Ann PerkinsDirector
Bill BoykinDirector
Bob MaherDirector
Bruce VanhornDirector
Chris FanninDirector
Chuck CharlesDirector
Delinda BordenDirector
Dr Kim KefferDirector
Greg JacksonDirector
Howard HarrisonDirector
John ClarkDirector
John StewartDirector
Judy JenningsDirector
Larry CainesDirector
Leon BriggsDirector
Mark StrotherDirector
Michael CantyDirector
Rannie CooperDirector
Rocky AdkinsDirector
Roger HallDirector
Sonia ChopraDirector
Stuart WebbDirector
Susan HuntDirector
Tammy MuffleyDirector
Willie McculloughDirector
Michael HobbsTreasurer
Ed NeelyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$416,807
Program Service Revenue
$706,375
Investment Income
$4,398
Other Revenue
$344,104
All Other Contributions
$170,880
Change in Net Assets
$-152,934

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,471,684
Revenue Not Reported on Form 990
$155,658
Total Revenue per Audited Statements
$1,627,342
Total Revenue per Form 990
$1,471,684
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,206,639
Salaries, Compensation, and Employee Benefits$417,979
Total Fundraising Expense$54,809
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$185,216$185,217-$370,433
Depreciation Depletion$300,671--$300,671
Occupancy$126,883$42,295-$169,178
Interest$68,660--$68,660
Fees for Services Other$17,046$17,047-$34,093
Payroll Taxes$13,589$13,590-$27,179
Office Expenses-$25,837-$25,837
Fees for Services Accounting$10,565$10,566-$21,131
Insurance-$17,012-$17,012
Other Employee Benefits$6,657$6,657-$13,314
Other Expenses$12,665-$44,920$12,665
All Other Expenses$325$2,288$9,889$12,502
Pension Plan Contributions-$7,053-$7,053
Travel-$3,570-$3,570
Total Functional Expenses$1,238,677$331,132$54,809$1,624,618

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,786,164
Expenses per Audited Statements$1,624,618
Total Expenses per Form 990$1,624,618
Expenses Not Reported on Form 990$161,546
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$347,360
Fundraising Direct Expenses$125,322
Gaming Gross Income$74,700
Gaming Direct Expenses$36,225
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Festival of Tre$92,829$92,829-$92,829
Lip Sync Battle$44,742$44,742-$44,742
Total Events$347,360$347,360$125,322$222,038
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Obligation$1,710,000
Other Liabilities$159,215
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 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
PO BOX 1546, ASHLAND, KY 41105-1546

Signing Officer

Name
Michael Hobbs
Title
Treasurer
Phone
0060632431
Signed
2017-02-13

Organization Details

Principal Officer
Michael Hobbs
Formed
1989
Legal Domicile
Ky
Voting Board Members
30
Independent Board Members
30
Employees
14

Preparer

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

Additional Explanations

Form 990, Part XI, Line 9

“Special event expenses included in net special events 161,546 net change in beneficial interest in assets held by others -5,888 special events expense included in revenue -161,546 net change in beneficial interest in assets held b 0 total -5,888”

Financial Statement Notes

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

“Special event expenses included in net special events 161,546 net change in beneficial interest in assets held by others -5,888”

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

“Special events expense included in revenue 161,546”

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

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IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10TREASURER
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/TitleTxt20PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
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IRS990/OccupancyGrp/ProgramServicesAmt0126883
IRS990/OccupancyGrp/TotalAmt0169178
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt025837
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc2CONTRACT LABOR
IRS990/OtherExpensesGrp/Desc3MARKETING
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IRS990/OtherExpensesGrp/ProgramServicesAmt0470686
IRS990/OtherExpensesGrp/ProgramServicesAmt125714
IRS990/OtherExpensesGrp/ProgramServicesAmt212665
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IRS990/OtherExpensesGrp/TotalAmt144920
IRS990/OtherExpensesGrp/TotalAmt225714
IRS990/OtherExpensesGrp/TotalAmt312665
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,334,361
Liabilities
$2,251,715
Net assets
$5,082,646
Revenue
$1,471,684
Expenses
$1,624,618
Net income
-$152,934
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