BETA

PARALLEL STUDIOS INC: Form 990EZ, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
PARALLEL STUDIOS INC (EIN 36-4663305)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-08-13
IRS object ID
201512259349200541
Schema version
2014v5.0
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)
Return2015-08-13T08:43:59-07:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

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 Begin2014-01-01TaxPeriodBeginDt

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
Signature2015-08-13SignatureDt
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)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

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$167,426GrossReceiptsAmt
Info In Schedule O Part IYes (X)InfoInScheduleOPartIInd
Contributions Gifts Grants Etc$151,760ContributionsGiftsGrantsEtcAmt
Program Service Revenue$15,666ProgramServiceRevenueAmt
Cost Or Other Basis Expense Sale$0CostOrOtherBasisExpenseSaleAmt
Fundraising Gross Income$0FundraisingGrossIncomeAmt
Special Events Direct Expenses$0SpecialEventsDirectExpensesAmt
Cost Of Goods Sold$0CostOfGoodsSoldAmt
Total Revenue$167,426TotalRevenueAmt
Salaries Other Comp Empl Bnft$41,878SalariesOtherCompEmplBnftAmt
Fees And Other Pymt To Ind Cntrct$1,781FeesAndOtherPymtToIndCntrctAmt
Occupancy Rent Utlts And Maint$17,380OccupancyRentUtltsAndMaintAmt
Printing Publications Postage$739PrintingPublicationsPostageAmt
Other Expenses Total$102,520OtherExpensesTotalAmt
Total Expenses$164,298TotalExpensesAmt
Excess Or Deficit For Year$3,128ExcessOrDeficitForYearAmt
Net Assets Or Fund Balances BOY$7,604NetAssetsOrFundBalancesBOYAmt
Other Changes In Net Assets$126OtherChangesInNetAssetsAmt
Net Assets Or Fund Balances EOY$10,858NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIYes (X)InfoInScheduleOPartIIInd

Cash Savings And Investments CashSavingsAndInvestmentsGrp

FieldValueIRS element (for citing)
BOY$39,801BOYAmt
EOY$27,855EOYAmt

Other Assets Total Detail OtherAssetsTotalDetail

FieldValueIRS element (for citing)
BOY$318BOYAmt
EOY$2,768EOYAmt

Form990 Total Assets Form990TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$40,119BOYAmt
EOY$30,623EOYAmt

Sum Of Total Liabilities SumOfTotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$32,515BOYAmt
EOY$19,765EOYAmt

Net Assets Or Fund Balances NetAssetsOrFundBalancesGrp

FieldValueIRS element (for citing)
BOY$7,604BOYAmt
EOY$10,858EOYAmt
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
"Currents" Exibition$129,776$43,000
Youth Media Makers$5,000
FieldValueIRS element (for citing)
Total Program Service Expenses$134,776TotalProgramServiceExpensesAmt

Officer Director Trustee Empl OfficerDirectorTrusteeEmplGrp (7 entries)

TitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Frank Regano
Co Ex Director40.00$20,640
Kitty Juda
Secretary0$0
Richard Lowenberg
President0$0
Anne Farrell
Director0$0
Paul Marcus
Treasurer0$0
Talia Kosh
Director0$0
Mariannah Amster
Co Ex Director40.00$17,472
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 UBIfalseOrganizationHadUBIInd
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 Minus2 Years$100,915CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$137,256CurrentTaxYearMinus1YearAmt
Current Tax Year$151,060CurrentTaxYearAmt
Total$389,231TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$500CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,381CurrentTaxYearMinus1YearAmt
Current Tax Year$15,666CurrentTaxYearAmt
Total$26,547TotalAmt

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 Minus2 Years$101,415CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$147,637CurrentTaxYearMinus1YearAmt
Current Tax Year$166,726CurrentTaxYearAmt
Total$415,778TotalAmt

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$415,778PublicSupportTotal509Amt

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 Minus2 Years$1,080CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,080CurrentTaxYearMinus1YearAmt
Total$2,160TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$102,495CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$148,717CurrentTaxYearMinus1YearAmt
Current Tax Year$166,726CurrentTaxYearAmt
Total$417,938TotalAmt
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 Expenses.1001Advertising and Promotion $17624
Other Expenses.1005Travel $7046
Other Expenses.1008Interest $36
Other Expenses.1009Depreciation $692
Other Expenses.1012Insurance $2119
Other Expenses.1Production expenses $13880
Other Expenses.2Artist housing and travel $11387
Other Expenses.3Contract Services $11127
Other Expenses.4Website dev/maint/marketing $8039
Other Expenses.5Craft Services $7982
Other Expenses.6Equipment Rental & small equi $7395
Other Expenses.7Lensic Theater $4641
Other Expenses.8Meals and Entertainment $4407
Other Expenses.9Railyard Plaza Concerts $1950
Other Expenses.10Janitorial $757
Other Expenses.11Auto expenses $680
Other Expenses.12Signage $613
Other Expenses.14Office $516
Other Expenses.15Security $454
Other Expenses.16Executive docs $390
Other Expenses.17Computer $385
Other Expenses.18Parking $308
Other Expenses.20Bank $50
Other Expenses.21Dues and Subscriptions $32
Other Expenses.22Licenses and Fees $10
Other Assets.1- Beginning $318 - Ending $2768
Total Liabilities.1- Beginning $32515 - Ending $19765

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.