Paramount Heritage Foundation Inc

Nonprofit profile at a glance

EIN
351774217
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Anderson, IN, USA
Phone
7656421234
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$1,100,322
Expenses
$945,345
Assets
$2,772,094
Liabilities
$331,144

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • DENISE MILLER (PRESIDENT)
  • LAINE RICKER-PATTERSON (VICE PRESIDENT)
  • RICHARD M JORN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RICHARD M JORN (EXECUTIVE DIRECTOR): $85,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promotion of the arts and entertainment through the restoration and operation of a historical theatre. Also, to provide facilities for literary, educational, cultural and charitable organizations to conduct theatrical presentations of various theatre troups, dance companies, well known orchestras, musical ensembles and other forms of artistic entertainment to promote the awareness and appreciation for such endeavors throughout the community as a whole. To further promote and encourage such organizations and to raise funds for the support and maintenance of such facilities, other organizations and their activities for the benefit of the public.

What it reported doing in 2024

Promotion and broadcasting to the public, knowledge, appreciation, practice and performance of entertainment and the arts through the restoration and operation of an historical theatre.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 2.93; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 17 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $945K in reported program spending
  • Leadership: top reported pay $85K · 17 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.