Parallel Networks
- Assets
- $34.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 08/2019
- Data as of
- 12/2020
- EIN
- 82-4730981
Organization Overview
Parallel Networks is located in Alexandria, VA. The organization was established in 2019. According to its NTEE Classification (W01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parallel Networks 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 12/2020, Parallel Networks generated $111.6k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 36.4% each year . All expenses for the organization totaled $116.7k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
DEVELOPING EDUCATIONAL & INSPIRATIONAL MEDIA DEDICATED TO COMBATING HATE & EXTREMIST IDEOLOGIES & PROMOTING PEACEFUL ENGAGEMENT AS AN ALTERNATIVE TO VIOLENCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jesse C Morton Executive Officer | 40 | $81,333 | |
Mitchell D Silber Chief Executive Officer | 10 | $3,000 | |
Maria Juncal Fernandez-Garayzabal Corporate Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,552 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $111,552 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $84,333 |
| Professional fees and other payments to independent contractors | $2,325 |
| Occupancy, rent, utilities, and maintenance | $9 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $29,984 |
| Total expenses | $116,651 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $28,263 |
| Other assets | $0 |
| Total assets | $33,968 |
| Total liabilities | $29,166 |
| Net assets or fund balances | $4,802 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Parallel Networks has recieved totaling $30,041.
| Awarding Organization | Amount |
|---|---|
Oregon Community Foundation Portland, OR PURPOSE: Housing | $30,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $41 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center For Community Change Action Washington, DC | $13,750,563 | $15,082,091 |
American Conservative Union Alexandria, VA | $4,885,240 | $15,442,633 |
Center For American Progress Action Fund Washington, DC | $5,490,835 | $12,854,526 |
Consumer Bankers Association Washington, DC | $14,757,474 | $11,272,002 |
Centre For Public Impact North America Inc Washington, DC | $15,029,956 | $20,852,661 |
Members Choice Credit Union Ashland, KY | $332,356,623 | $13,811,738 |
Public Citizen Inc Washington, DC | $4,340,834 | $7,987,999 |
Common Cause Washington, DC | $11,922,837 | $10,088,774 |
American Road And Transportation Builders Association Washington, DC | $8,270,430 | $9,321,021 |
Alliance For Telecommunications Industry Solutions Washington, DC | $11,826,639 | $10,016,608 |
Americans For Tax Reform Washington, DC | $22,926,988 | $9,199,721 |
Electronic Transactions Association Washington, DC | $10,336,129 | $4,909,988 |