Parallel Studios Inc

Analysis

Parallel Studios Inc is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover arts, culture and humanities, 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 December 2023, Parallel Studios Inc reported income of $229k and spending of $213k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $268k to $229k (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Parallel Studios Inc sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within NM. Charities of a similar size with the same main cause include Friends of the Vergennes Opera House Inc ($229k), Social Trends Institute Inc ($229k) and Methow Music Festival Association ($229k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $38k (18% of expenses). Other salaries and wages came to $21k. At year end it held assets of $106k against liabilities of $98, net assets of $106k. It reported 3 employees.