Parallax Advanced Research Corp

Analysis

Parallax Advanced Research Corp is a registered charity in United States, based in Beavercrk TWP, OH. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Parallax Advanced Research Corp reported income of $46.0m and spending of $45.8m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.3m to $46.0m (+47%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Parallax Advanced Research Corp sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Minnesota Masterpiece Hall ($45.9m), National Trust for Local News ($46.1m) and North Carolina Performing Arts Center at Charlotte Foundation ($45.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $19.4m. At year end it held assets of $23.1m against liabilities of $19.8m, net assets of $3.4m. It reported 133 employees.