Parallel Housing Inc
- Assets
- $730.5k
- Revenue
- $270.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Athens, GA
- Founding
- 02/2004
- Data as of
- 12/2023
- EIN
- 56-2318420
Organization Overview
Parallel Housing Inc is located in Athens, GA. The organization was established in 2004. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parallel Housing 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 12/2023, Parallel Housing Inc generated $270.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $233.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Gregg Bayard President | 40 | $175,000 | |
Rick Wadsworth Director | 0 | $0 | |
Ron Schwartz Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15,036 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $254,991 |
| Total Revenue | $270,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $175,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,516 |
| Depreciation | $1,457 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $10,944 |
| Printing and publications | $0 |
| Other expenses | $32,151 |
| Total operating and administrative expenses | $233,268 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $233,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,604 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $55,837 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $374,498 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $4,189 |
| Other assets | $127,420 |
| Total assets | $730,548 |
| Accounts payable and accrued expenses | $1,826 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,826 |