Parallel Studios Inc
- Assets
- $92.4k
- Revenue
- $288.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Santa Fe, NM
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 36-4663305
Organization Overview
Parallel Studios Inc is located in Santa Fe, NM. The organization was established in 2011. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Parallel Studios Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parallel Studios Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Parallel Studios Inc generated $288.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $279.4k during the year ending 12/2022. While expenses have increased by 6.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PARALLEL STUDIOS ORGANIZES AND PRESENTS IT'S CURRENTS MEDIA FESTIVAL WHICH GIVES THE COMMUNITY AT LARGE THE CHANCE TO EXPERIENCE THE LATEST IN NEW MEDIA ARTS IN AN OPEN AND NON-INTIMIDATING ENVIRONMENT AND TO PROVIDE DOCENT TOURS TO EXPAND THE GENERAL PUBLIC'S UNDERSTANDING OF THE MEDIUM. IN 2018 EXHIBITS WERE FREE AND IN 2019 THE ENTRANCE FEE TO ALL VISITORS OVER 20 YEARS OF AGE WAS ONLY 5. IN 2020 THE FESTIVAL WAS TOTALLY VIRTUAL AND FREE. FOR 2021 WE RAISED OUR IN-PERSONADMISSION FEE TO 10 FOR ADULTS BUT IT REMAINED FREE FOR THOSE 20 AND YOUNGER. WE ARE COMMITTED TO A NON- DIRCRIMINATORY AND INCLUSIVE APPROACH TO COMMUNITY INVOLVEMENT. WE CREATE AN ENVIRONMENT FOR THE PARTICIPATING ARTISTS THAT IS CONDUCIVE TO THE SHARING OF INFORMATION AND EXPERIENCE. SELECTED ARTISTS PRESENT LECTURES AND HANDS-ON WORKSHOPS WHICH ARE OPEN TO ARTISTS AND THE PUBLIC. WE STRIVE TO ENGAGE YOUTH IN THIS ART FORM BY PRESENTING THEIR WORK AT OUR EXHIBITIONS AND BY INVITING YOUTH GROUPS TO ATTEND THE EXHIB
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE "CURRENTS" EXHIBITION - PARALLEL STUDIOS PRESENTS ITS CURRENT NEWS MEDIA FESTIVAL FOR A 10-DAY PERIOD EACH JUNE IN SANTA FE, NEW MEXICO. IT OFFERS THE COMMUNITY AT LARGE THE CHANCE TO EXPERIENCE THE LATEST IN NEW MEDIA ARTS IN AN OPEN AND NON-INTIMIDATING ENVIRONMENT. WE PROVIDE DOCENTS TOURS TO EXPAND THE GENERAL PUBLIC'S UNDERSTANDING OF THE MEDIUM. IN 2020 THE EVENT WENT VIRTUAL DUE TO THE PANDEMIC. IT INCLUDED APPROXIMATELY 40 DIFFERENT ARTISTS AND EXPERIENCES. 6,500 VISITORS FROM 95 COUNTRIES AND EVERY STATE IN THE USA ATTENDED THE ON-LINE FESTIVAL. THROUGH 2018 EXHIBITS WERE FREE AND IN 2019 A SMALL 5 ADMISSION FEE WAS CHARGED TO THE PUBLIC SO AS NOT TO DISCOURAGE THOSE UNFAMILIAR WITH THISFORM FROM VISITING THE EXHIBITIONS. WE ARE NOW CHARGING A 10 ENTRY FEE FOR ADULTS AND FREE ADMISSION FOR THOSE 20 AND YOUNGER. WE ARE COMMITTED TO A NONDISCRIMINATORY AND INCLUSIVE APPROACH TO COMMUNITY INVOLVEMENT. WE CREATE AN ENVIRONMENT FOR THE PARTICIPATING ARTISTS THAT IS CONDUCIVE TO THE SHARING OF INFORMATION AND EXPERIENCE. SELECTED ARTISTS PRESENT LECTURES AND HANDS-ON WORKSHOPS WHICH ARE OPEN TO ARTISTS AND THE PUBLIC. WE STRIVE TO ENGAGE YOUTH IN THIS ART FORM BY INVITING YOUTH GROUPS TO ATTEND THE EXHIBITS. KNOWLEDGEABLE DOCENTS ARE AVAILABLE TO GUIDE THEM THROUGH THE EXHIBIT AND ANSWER THEIR QUESTIONS. WE PROVIDE TOURS FOR OVER THREE HUNDRED CHILDREN FROM SANTA FE SUMMER CAMP PROGRAMS, BOYS AND GIRLS CLUBS AND CHARTER SCHOOL SUMMER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Ragano Co Exec. Dir | Officer | 40 | $32,912 |
Mariannah Amster Co Exec. Dir | Officer | 31 | $15,840 |
Katerine Ballard-Ryan Director | Trustee | 2 | $0 |
Barak Chamo Director | Trustee | 2 | $0 |
Jenny Day Director | Trustee | 2 | $0 |
Tom Greenbaum Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,114 |
| All other contributions, gifts, grants, and similar amounts not included above | $154,443 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $254,557 |
| Total Program Service Revenue | $33,898 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $288,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $48,752 |
| Compensation of current officers, directors, key employees. | $4,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,323 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,400 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,967 |
| Office expenses | $7,877 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,492 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,219 |
| All other expenses | $5,754 |
| Total functional expenses | $279,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,725 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,134 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,534 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $92,393 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,504 |
| Total liabilities | $1,504 |
| Net assets without donor restrictions | $90,889 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $92,393 |