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PARALLEL STUDIOS INC: Form 990EZ, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
PARALLEL STUDIOS INC (EIN 36-4663305)
Tax period
2015-01-01 to 2015-12-31
Filed
2016-06-28
IRS object ID
201611809349200211
Schema version
2015v2.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2016-06-28T09:39:44-07:00ReturnTs
Tax Period End2015-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Donna Bailey CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11440 B ST Francis DriveAddressLine1Txt
CitySanta FeCityNm
State AbbreviationNMStateAbbreviationCd
ZIP87505ZIPCd
FieldValueIRS element (for citing)
Return Type990EZReturnTypeCd
Tax Period Begin2015-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN364663305EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Parallel Studios IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPARABusinessNameControlTxt
Phone5056706473PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1167 Soaring Hawk TrailAddressLine1Txt
CitySanta FeCityNm
State AbbreviationNMStateAbbreviationCd
ZIP87508ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFrank ReganoPersonNm
Person TitleExecutive DirectorPersonTitleTxt
Signature2016-06-28SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDonna BaileyPreparerPersonNm
PTINP00669498PTIN
Phone5059821443PhoneNum
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2016-09-27 15:27:22ZBuildTS

Form 990-EZ IRS990EZ

FieldValueIRS element (for citing)
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Website AddressN/AWebsiteAddressTxt
Organization501c3Yes (X)Organization501c3Ind
Gross Receipts$177,898GrossReceiptsAmt
Info In Schedule O Part IYes (X)InfoInScheduleOPartIInd
Contributions Gifts Grants Etc$164,611ContributionsGiftsGrantsEtcAmt
Program Service Revenue$11,207ProgramServiceRevenueAmt
Cost Or Other Basis Expense Sale$0CostOrOtherBasisExpenseSaleAmt
Fundraising Gross Income$0FundraisingGrossIncomeAmt
Special Events Direct Expenses$0SpecialEventsDirectExpensesAmt
Cost Of Goods Sold$0CostOfGoodsSoldAmt
Other Revenue Total$2,080OtherRevenueTotalAmt
Total Revenue$177,898TotalRevenueAmt
Salaries Other Comp Empl Bnft$47,185SalariesOtherCompEmplBnftAmt
Fees And Other Pymt To Ind Cntrct$12,577FeesAndOtherPymtToIndCntrctAmt
Occupancy Rent Utlts And Maint$14,552OccupancyRentUtltsAndMaintAmt
Printing Publications Postage$582PrintingPublicationsPostageAmt
Other Expenses Total$100,875OtherExpensesTotalAmt
Total Expenses$175,771TotalExpensesAmt
Excess Or Deficit For Year$2,127ExcessOrDeficitForYearAmt
Net Assets Or Fund Balances BOY$10,858NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$12,985NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIYes (X)InfoInScheduleOPartIIInd

Cash Savings And Investments CashSavingsAndInvestmentsGrp

FieldValueIRS element (for citing)
BOY$27,855BOYAmt
EOY$11,757EOYAmt

Other Assets Total Detail OtherAssetsTotalDetail

FieldValueIRS element (for citing)
BOY$2,768BOYAmt
EOY$4,060EOYAmt

Form990 Total Assets Form990TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$30,623BOYAmt
EOY$15,817EOYAmt

Sum Of Total Liabilities SumOfTotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$19,765BOYAmt
EOY$2,832EOYAmt

Net Assets Or Fund Balances NetAssetsOrFundBalancesGrp

FieldValueIRS element (for citing)
BOY$10,858BOYAmt
EOY$12,985EOYAmt
FieldValueIRS element (for citing)
Primary Exempt PurposeParallel Studios is committed to present the work of emerging and established video and new media artists through exhibitions and workshops. We strive to reinvigorate the role creativity and the arts play in our community and the future of our youth. Our programs create a bridge between youth, the general public and the world of contemporary art.PrimaryExemptPurposeTxt

Program Srvc Accomplishment ProgramSrvcAccomplishmentGrp (2 entries)

Description Program Srvc AccomDescriptionProgramSrvcAccomTxtGrants And AllocationsGrantsAndAllocationsAmtProgram Service ExpensesProgramServiceExpensesAmt
The "CURRENTS" Exhibition - Parallel Studios organizes and presents it's Currents Exhbition which gives the community at large the chance to experience the latest in the video arts in a open and non-intimidating environment and to provide docent tours to expand the general public's understanding of the medium. Exhibits are free to the public so as not to discourage those unfamiliar with this form from visiting the exhibitions. We are committed to a non-discriminatory 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 exhibits. Knowledgeable docents are available to guide them through the exhibit and answer their questions.$152,358$127,068
Youth Media Makers$5,000
FieldValueIRS element (for citing)
Total Program Service Expenses$157,358TotalProgramServiceExpensesAmt

Officer Director Trustee Empl OfficerDirectorTrusteeEmplGrp (9 entries)

TitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Frank Regano
Co Ex Director40.00$23,712
Kitty Juda
Secretary2.00$0
Richard Lowenberg
President2.00$0
Anne Farrell
Director2.00$0
Paul Marcus
Treasurer2.00$0
David Sanchez-Burr
Director2.00$0
Mariannah Amster
Co Ex Director40.00$19,968
Danielle Kelly
Director2.00$0
Frank Rose
Director2.00$0
FieldValueIRS element (for citing)
Info In Schedule O Part VYes (X)InfoInScheduleOPartVInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Chg Made To Orgnzng Doc Not RptfalseChgMadeToOrgnzngDocNotRptInd
Organization Had UBIYes (true)OrganizationHadUBIInd
Organization Filed990 TfalseOrganizationFiled990TInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Form1120 Pol FiledfalseForm1120PolFiledInd
Made Loans To From OfficersfalseMadeLoansToFromOfficersInd
Initiation Fees And Cap Contri$0InitiationFeesAndCapContriAmt
Gross Receipts For Public Use$0GrossReceiptsForPublicUseAmt
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonFrank ReganoPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1167 Soaring Hawk TrailAddressLine1Txt
CitySanta FeCityNm
State AbbreviationNMStateAbbreviationCd
ZIP875081414ZIPCd
FieldValueIRS element (for citing)
Phone5056706473PhoneNum
FieldValueIRS element (for citing)
Foreign Financial AccountfalseForeignFinancialAccountInd
Foreign OfficefalseForeignOfficeInd
Donor Advised FndsfalseDonorAdvisedFndsInd
Operate HospitalfalseOperateHospitalInd
Tanning Services ProvidedfalseTanningServicesProvidedInd
Form720 FiledfalseForm720FiledInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Transaction With Control EntfalseTransactionWithControlEntInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
School OperatingfalseSchoolOperatingInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Related Org Sect527 OrgfalseRelatedOrgSect527OrgInd
Part VI Of Comp Of Hghst Pd EmplNONEPartVIOfCompOfHghstPdEmplTxt
Part VI Hghst Pd Cntrct Prof SrvcNONEPartVIHghstPdCntrctProfSrvcTxt
Filed Schedule AYes (true)FiledScheduleAInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$100,915CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$137,256CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$151,060CurrentTaxYearMinus1YearAmt
Current Tax Year$164,611CurrentTaxYearAmt
Total$553,842TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$500CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$10,381CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$15,666CurrentTaxYearMinus1YearAmt
Current Tax Year$11,207CurrentTaxYearAmt
Total$37,754TotalAmt

Gross Receipts Non Unrlt Bus GrossReceiptsNonUnrltBusGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Tax Rev Levied Orgnztnl Bnft509 TaxRevLeviedOrgnztnlBnft509Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Govt Furn Srvc Fclts Vl509 GovtFurnSrvcFcltsVl509Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$101,415CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$147,637CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$166,726CurrentTaxYearMinus1YearAmt
Current Tax Year$175,818CurrentTaxYearAmt
Total$591,596TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$591,596PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Post1975 UBTI Post1975UBTIGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Net Income From Other UBI NetIncomeFromOtherUBIGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Other Income509 OtherIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$1,080CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,080CurrentTaxYearMinus2YearsAmt
Current Tax Year$2,080CurrentTaxYearAmt
Total$4,240TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$102,495CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$148,717CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$166,726CurrentTaxYearMinus1YearAmt
Current Tax Year$177,898CurrentTaxYearAmt
Total$595,836TotalAmt
FieldValueIRS element (for citing)
First5 Years509Yes (X)First5Years509Ind
Public Support CY5090.00000PublicSupportCY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (27 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Other Revenue.1Fiscal Agent Fees $2080
Other Expenses.1001Advertising and Promotion $24269
Other Expenses.1002Office Expenses $1442
Other Expenses.1005Travel $1576
Other Expenses.1008Interest $326
Other Expenses.1009Depreciation $4032
Other Expenses.1012Insurance $2092
Other Expenses.1Artist housing and travel $15217
Other Expenses.2Contract Services $14766
Other Expenses.3Equipment Rental & small equi $9788
Other Expenses.4Materials and Supplies $9177
Other Expenses.5Honorarium - Artist $5949
Other Expenses.6Meals and Entertainment $2705
Other Expenses.7Catalog Production $2390
Other Expenses.8Production expenses $1640
Other Expenses.9Storage Rent $1080
Other Expenses.10Craft Services $1009
Other Expenses.11Executive docs $948
Other Expenses.12Computer and Internet $799
Other Expenses.13Security $750
Other Expenses.15Dues and Subscriptions $340
Other Expenses.16Parking $253
Other Expenses.18Visitor Surveys $210
Other Expenses.19Licenses and Fees $80
Other Expenses.20Telephone $37
Other Assets.2Net machinery - Beginning $2768 Net machinery - Ending $4060
Total Liabilities.1- Beginning $19765 - Ending $2832

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