THE PARAMOUNT FOUNDATION INC

EIN: 581837080 501(c)(3)

BRISTOL, TN

Total Revenue
$2,044,761
Total Expenses
$2,307,789
Total Assets
$2,137,037
Net Assets
$1,418,338
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
TN
Principal Officer
MATTHEW RIGGINS
Phone
4232748920
Tax Period
2024-07-01 to 2025-06-30

THE PARAMOUNT FOUNDATION INC, founded in 1989, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $2.3M exceeded revenue, resulting in a 13% operating deficit.

Mission

PRESERVATION AND RESTORATION OF THE PARAMOUNT THEATER, WHICH IS ON THE NATIONAL REGISTER OF HISTORIC PLACES.

Program Service Accomplishments

Program 1
Expenses: $2,018,495 Revenue: $1,711,932

PROVIDING ARTISTIC AND MUSICAL PERFORMANCES TO THE GENERAL PUBLIC TO ENHANCE AND EXPAND THE APPRECIATION OF THE ARTS IN THE BRISTOL AND SURROUNDING AREAS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $332,829
Program Service Revenue $1,628,361
Investment Income $22,059
Other Revenue $61,512
TOTAL REVENUE $2,044,761

Expense Breakdown

Grants Paid $0
Salaries & Benefits $367,562
Fundraising Expenses $26,839
Program Expenses $1,970,888
Other Expenses $1,940,227
TOTAL EXPENSES $2,307,789

Year-over-Year Comparison

2024 2023 Change
Revenue $2,044,761 $1,817,274 +0.1%
Expenses $2,307,789 $1,824,315 +0.3%
Net Income $-263,028 $-7,041 +36.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
25
Volunteers
25

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
18
$52,470
Key Employees
1
$52,470
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH BETH CARTER INTERIN EXECUTIVE DIRECTOR 40.00
Director Key Emp
$52,470 $0 $52,470
MARY BETH RAINERO DIRECTOR 5.00
Director
$0 $0 $0
MATTHEW RIGGINS PRESIDENT 5.00
Officer Director
$0 $0 $0
JON LUTTRELL DIRECTOR 5.00
Director
$0 $0 $0
ELISE TAYLOR SECRETARY 5.00
Officer Director
$0 $0 $0
LOGAN MCCABE DIRECTOR 5.00
Director
$0 $0 $0
PAUL CONCO DIRECTOR 5.00
Director
$0 $0 $0
ROB SIMIS DIRECTOR 5.00
Director
$0 $0 $0
ED BALABAN PAST PRESIDENT 5.00
Director
$0 $0 $0
TRACIE JONES VICE PRESIDENT 5.00
Officer Director
$0 $0 $0
JEFF JONES DIRECTOR 5.00
Director
$0 $0 $0
SHIRLEY CARRIER DIRECTOR 5.00
Director
$0 $0 $0
DAVID GRACE DIRECTOR 5.00
Director
$0 $0 $0
BARBARA SMITH DIRECTOR 5.00
Director
$0 $0 $0
MATT BOLAS DIRECTOR 5.00
Director
$0 $0 $0
KELLY GRAHAM DIRECTOR 5.00
Director
$0 $0 $0
SAM HALL TREASURER 5.00
Officer Director
$0 $0 $0
TY WARREN DIRECTOR 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $2,044,761 $2,307,789 $2,137,037 $-263,028
2025 No data No data No data No data
2024 $1,817,274 $1,824,315 $2,431,099 $-7,041
2023 $2,184,470 $2,096,636 $2,500,662 $87,834
2022 $3,301,489 $2,303,423 $2,156,757 $998,066
2021 $406,831 $586,383 $1,621,341 $-179,552
2020 $1,832,258 $1,779,162 $1,618,180 $53,096
2019 $1,519,468 $1,564,179 $1,165,466 $-44,711
2018 $987,044 $1,021,861 $1,126,038 $-34,817
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