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PARALLEL STUDIOS INC: Form 990EZ, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
PARALLEL STUDIOS INC (EIN 36-4663305)
Tax period
2013-01-01 to 2013-12-31
Filed
2014-08-08
IRS object ID
201422209349200347
Schema version
2013v3.1
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)
Return2014-08-08T14:40:47-07:00ReturnTs
Tax Period End2013-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Donna Bailey CPABusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11440 B ST Francis DriveAddressLine1
CitySanta FeCity
StateNMState
ZIP Code87505ZIPCode
FieldValueIRS element (for citing)
Return Type990EZReturnTypeCd
Tax Period Begin2013-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN364663305EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Parallel Studios IncBusinessNameLine1
FieldValueIRS element (for citing)
Business Name ControlPARABusinessNameControlTxt
Phone5056706473PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1167 Soaring Hawk TrailAddressLine1
CitySanta FeCity
StateNMState
ZIP Code87508ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFrank ReganoPersonNm
Person TitleExecutive DirectorPersonTitleTxt
Signature2014-08-08SignatureDt
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)
Tax2013TaxYr
Build TS2015-11-30 17:44:51ZBuildTS

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$148,717GrossReceiptsAmt
Info In Schedule O Part IYes (X)InfoInScheduleOPartIInd
Contributions Gifts Grants Etc$137,256ContributionsGiftsGrantsEtcAmt
Program Service Revenue$10,381ProgramServiceRevenueAmt
Cost Or Other Basis Expense Sale$0CostOrOtherBasisExpenseSaleAmt
Fundraising Gross Income$0FundraisingGrossIncomeAmt
Special Events Direct Expenses$0SpecialEventsDirectExpensesAmt
Cost Of Goods Sold$0CostOfGoodsSoldAmt
Other Revenue Total$1,080OtherRevenueTotalAmt
Total Revenue$148,717TotalRevenueAmt
Salaries Other Comp Empl Bnft$26,412SalariesOtherCompEmplBnftAmt
Fees And Other Pymt To Ind Cntrct$941FeesAndOtherPymtToIndCntrctAmt
Occupancy Rent Utlts And Maint$18,009OccupancyRentUtltsAndMaintAmt
Printing Publications Postage$13,926PrintingPublicationsPostageAmt
Other Expenses Total$91,347OtherExpensesTotalAmt
Total Expenses$150,635TotalExpensesAmt
Excess Or Deficit For Year-$1,918ExcessOrDeficitForYearAmt
Net Assets Or Fund Balances BOY$9,522NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$7,604NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIYes (X)InfoInScheduleOPartIIInd

Cash Savings And Investments CashSavingsAndInvestmentsGrp

FieldValueIRS element (for citing)
BOY$39,771BOYAmt
EOY$39,801EOYAmt

Other Assets Total Detail OtherAssetsTotalDetail

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

Form990 Total Assets Form990TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$40,089BOYAmt
EOY$40,119EOYAmt

Sum Of Total Liabilities SumOfTotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$30,567BOYAmt
EOY$32,515EOYAmt

Net Assets Or Fund Balances NetAssetsOrFundBalancesGrp

FieldValueIRS element (for citing)
BOY$9,522BOYAmt
EOY$7,604EOYAmt
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$108,121$94,512
Youth Media Makers$1,000
FieldValueIRS element (for citing)
Total Program Service Expenses$109,121TotalProgramServiceExpensesAmt

Officer Director Trustee Empl OfficerDirectorTrusteeEmplGrp (7 entries)

TitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Frank Regano
Co Ex Director40.00$15,804
Kitty Juda
Vice President0$0
Richard Lowenberg
President0$0
Anne Farrell
Director0$0
Paul Marcus
Director0$0
Filip Celander
Director0$0
Mariannah Amster
Co Ex Director40.00$10,608
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 TrailAddressLine1
CitySanta FeCity
StateNMState
ZIP Code875081414ZIPCode
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 Minus1 Year$100,915CurrentTaxYearMinus1YearAmt
Current Tax Year$137,256CurrentTaxYearAmt
Total$238,171TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$500CurrentTaxYearMinus1YearAmt
Current Tax Year$10,381CurrentTaxYearAmt
Total$10,881TotalAmt

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 Minus1 Year$101,415CurrentTaxYearMinus1YearAmt
Current Tax Year$147,637CurrentTaxYearAmt
Total$249,052TotalAmt

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$249,052PublicSupportTotal509Amt

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 Minus1 Year$1,080CurrentTaxYearMinus1YearAmt
Current Tax Year$1,080CurrentTaxYearAmt
Total$2,160TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$102,495CurrentTaxYearMinus1YearAmt
Current Tax Year$148,717CurrentTaxYearAmt
Total$251,212TotalAmt
FieldValueIRS element (for citing)
First5 Years509Yes (X)First5Years509Ind
Public Support CY5090.00000PublicSupportCY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (28 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Other Revenue.1Fiscal Agent Fees $1080
Other Expenses.1001Advertising and Promotion $22295
Other Expenses.1002Office Expenses $1170
Other Expenses.1003Information Technology $2609
Other Expenses.1005Travel $570
Other Expenses.1008Interest $281
Other Expenses.1012Insurance $2173
Other Expenses.1Website dev/maint/marketing $12456
Other Expenses.3Artist housing and travel $11831
Other Expenses.4Contract Services $7449
Other Expenses.5Production expenses $5660
Other Expenses.6Honoratium $5600
Other Expenses.7Equipment Rental & small equi $5405
Other Expenses.8Graphic Design $4000
Other Expenses.9Payroll taxes $2632
Other Expenses.10Meals and Entertainment $2339
Other Expenses.12Railyard Plaza Concerts $1700
Other Expenses.13Residency Fee $1000
Other Expenses.14Signage $572
Other Expenses.15Auto expenses $453
Other Expenses.16Security $358
Other Expenses.17Craft Services $278
Other Expenses.18Dues and Subscriptions $209
Other Expenses.19Parking $140
Other Expenses.20Bank $132
Other Expenses.21State tax $35
Other Assets.1- Beginning $318 - Ending $318
Total Liabilities.1- Beginning $30567 - Ending $32515

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