Passes our checks

Friends of the Paragon Carousel Inc

EIN 04-3285979 · Hull, MA

Public records show a registered, tax-exempt organization in good standing.

What it says it does

THE MISSION OF THE FRIENDS OF THE PARAGON CAROUSEL IS TO PRESERVE THE CAROUSEL AT ITS CURRENT LOCATION AND RESTORE IT TO ITS ORIGINAL BEAUTY.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Strong: 93 out of 100. Higher than 78% of charities in its peer group (arts and culture, $250k to $1m).

Reserves
28 of 35
Spendable reserves would cover 9.3 months of spending.
Debt
20 of 20
It owes 3% of what it owns.
Living within its means
15 of 15
Income exceeded spending by 12% of income.
Income trend
15 of 15
Income rose 8% on the year before.
Spending floor
15 of 15
81% of spending went to programs and raising each dollar of donations cost 21 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Good: 75 out of 100. Higher than 52% of charities in its peer group (arts and culture, $250k to $1m).

Independent board
25 of 25
8 of 8 voting board members are independent.
Conflict of interest policy
15 of 15
Has a written conflict of interest policy.
Whistleblower policy
0 of 8
Reports no written whistleblower policy.
Record keeping policy
0 of 7
Reports no written policy on keeping and destroying records.
Board minutes
5 of 5
Keeps minutes of board meetings.
Board sees the tax return
10 of 10
Gave the board a copy of this return before filing it.
Independent check of accounts
6 of 15
Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10
Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)

$315,642 spent. OPERATION OF HISTORIC PARAGON CAROUSEL & ADJUSTMENT MUSEUM SHOP. THE CAROUSEL HAS BEEN OPERATING ALONG THE SHORES OF BEAUTIFUL NANTASKET BEACH FOR MORE THAN 80 YEARS. BUILT IN 1928 BY THE PHILADELPHIA TOBOGGAN COMPANY, IT BOASTS FOUR ROWS OF 66 INTRICATELY CARVED HORSES & TWO RARE ROMAN CHARIOTS. IT IS DECORATED WITH 35 ORIGINAL PAINTINGS, 36 CHERUBS & 18 GODDESSES WHO LOOK DOWN WHILE A WURLITZER BANK ORGAN FILLS THE AIR WITH MUSIC. ONE OF FEWER THAN 100 "GRAND" CAROUSELS REMAINING IN THE U.S. TODAY, THE PARAGON CAROUSEL TOUCHES THE HEART, SPARKS THE IMAGINATIONS & IGNITES THE CREATIVE SPIRITS OF ALL WHO VISIT IT. THE PARAGON CAROUSEL IS THE LAST REMAINING ATTRACTION FROM THE BELOVED PARAGON PARK AMUSEMENT PARK ON NANTASKET BEACH THAT CLOSED IN 1985. THE ANTIQUE AMUSEMENT IS A LASTING (CONTINUED ON SCHEDULE O... ) REMINDER OF THE "GOLDEN AGE" OF HULL, MA, WHEN THE TOWN WAS TEEMING WITH THOUSANDS OF VISITORS EACH DAY IN THE SUMMER FOR DECADES. THE CAROUSEL NOW ATTRACTS UPWARDS OF 100,000 VISITORS EACH SUMMER.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 1996.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.