Civic Intelligence

Parallel Exit Inc.

990 • Fiscal year 2022 • EIN 20-8728956

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 29, 2023

Organization ProfileWWW.PARALLELEXIT.COM
175 Eastern ParkwayBrooklyn, NY 11238

(917) 407-7537

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

75th percentile

0.22x

Higher debt load relative to assets than 75% of similar nonprofits.

2022 filings • NTEE A65 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

66th percentile

0.04x

Higher debt load relative to revenue than 66% of similar nonprofits.

2022 filings • NTEE A65 • <$500k nonprofits • Source year 2022

Net Margin

58th percentile

3.9%

Higher net margin than 58% of similar nonprofits.

2022 filings • NTEE A65 • <$500k nonprofits • Source year 2022

Top Officer Pay

62nd percentile

$0

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE A65 • <$500k nonprofits • Source year 2022

Asset Growth

92nd percentile

127%

Faster asset growth than 92% of similar nonprofits.

2022 filings • NTEE A65 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

96th percentile

376%

Faster revenue growth than 96% of similar nonprofits.

2022 filings • NTEE A65 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$53,811

Up $30,123 (+127%) from 2021

Net Assets

Up

$41,917

Up $18,229 (+77%) from 2021

Liabilities

$11,894

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin58th percentile

Revenue

Up

$270,865

Up $213,966 (+376%) from 2021

Expenses

Up

$260,286

Up $217,405 (+507%) from 2021

Net Income

Down

$10,579

Down $3,439 (-25%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60K$40K$20K$0Assets 2011: $22,589Liabilities 2011: $1,7502011Assets 2012: $17,492Liabilities 2012: $0Net Assets 2012: $17,4922012Assets 2013: $30,048Liabilities 2013: $02013Assets 2014: $58,505Liabilities 2014: $02014Assets 2015: $25,910Liabilities 2015: $02015Assets 2016: $29,589Liabilities 2016: $02016Assets 2017: $23,218Net Assets 2017: $23,2182017Assets 2018: $19,691Liabilities 2018: $0Net Assets 2018: $19,6912018Assets 2019: $25,062Liabilities 2019: $0Net Assets 2019: $25,0622019Assets 2020: $9,670Net Assets 2020: $9,6702020Assets 2021: $23,688Net Assets 2021: $23,6882021Assets 2022: $53,811Liabilities 2022: $11,894Net Assets 2022: $41,9172022Assets 2023: $29,943Liabilities 2023: $1,895Net Assets 2023: $28,0482023Assets 2024: $34,082Liabilities 2024: $16,561Net Assets 2024: $17,5212024

Highlighted filing

2022

Assets$53,811
Liabilities$11,894
Net Assets$41,917
Open 2022 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2011: $59,964Expenses 2011: $78,388Net Income 2011: -$18,4242011Revenue 2012: $75,378Expenses 2012: $80,475Net Income 2012: -$5,0972012Revenue 2013: $81,122Expenses 2013: $68,566Net Income 2013: $12,5562013Revenue 2014: $139,367Expenses 2014: $110,911Net Income 2014: $28,4562014Revenue 2015: $76,260Expenses 2015: $108,794Net Income 2015: -$32,5342015Revenue 2016: $58,508Expenses 2016: $54,829Net Income 2016: $3,6792016Revenue 2017: $23,762Expenses 2017: $20,102Net Income 2017: $3,6602017Revenue 2018: $74,191Expenses 2018: $77,718Net Income 2018: -$3,5272018Revenue 2019: $46,265Expenses 2019: $40,894Net Income 2019: $5,3712019Revenue 2020: $55,456Expenses 2020: $70,848Net Income 2020: -$15,3922020Revenue 2021: $56,899Expenses 2021: $42,881Net Income 2021: $14,0182021Revenue 2022: $270,865Expenses 2022: $260,286Net Income 2022: $10,5792022Revenue 2023: $122,870Expenses 2023: $146,739Net Income 2023: -$23,8692023Revenue 2024: $120,867Expenses 2024: $131,394Net Income 2024: -$10,5272024

Highlighted filing

2022

Revenue$270,865
Expenses$260,286
Net Income$10,579
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 29, 2023
Return Version
2022v5.0
Gross Receipts
$270,865
Mission and Program Overview

Mission

Provides programs in schools and for children in the art and execution of physical theatre

Provides programs in schools and for children in the art of physical theatre.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$23,688$43,690▲ $20,002
Rtn Earn Endowment Incm Other Fnds$23,688$41,917▲ $18,229
Loans From Officers Directors-$10,000-
Pledges and Grants Receivable-$9,840-
Prepaid Expenses and Deferred Charges-$281-
Total Assets$23,688$53,811▲ $30,123
Liabilities
Accounts Payable and Accrued Expenses-$1,894-
Total Liabilities$0$11,894▲ $11,894
Net Assets / Fund Balance
Total Net Assets Fund Balance$23,688$41,917▲ $18,229
Total Liabilities and Net Assets / Fund Balance$23,688$53,811▲ $30,123
Compensation and Service Providers
Top Officer Pay62nd percentile

Board Members and Trustees

NameTitle
Matthew MenendezPresident
Ken BantaVice President
Mark LonerganArtistic Director
Anita GirdhariDirector
Suchan VodoorDirector
Sharon GurwtzFinancial Advisor
Revenue and Support

Revenue Composition

Contributions and Grants
$89,307
Program Service Revenue
$181,558
Investment Income
$0
Other Revenue
$0
All Other Contributions
$89,307
Change in Net Assets
$10,579
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$151,523
Other Expenses$108,763
Total Fundraising Expense$9,662
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$127,409$0$0$127,409
Other Expenses$29,500$0$0$29,500
Payroll Taxes$24,114$0$0$24,114
Travel$10,721$0$0$10,721
Occupancy$2,168$0$0$2,168
Fees for Service Investment Mgmnt Fees$0$1,821$0$1,821
Insurance$994$0$0$994
Fees for Services Accounting$0$900$0$900
Office Expenses$0$497$0$497
Total Functional Expenses$247,406$3,218$9,662$260,286
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$10,000-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Parallel Exit Inc
EIN
20-8728956
Phone
9174077537
Address
175 EASTERN PARKWAY, BROOKLYN, NY 11238

Signing Officer

Name
Matthew Menendez
Title
President
Phone
9174077537
Signed
2023-08-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Menendez
Formed
2007
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
21
Volunteers
7

Preparer

Firm
Douglas G Sipe CPA LLC
Address
75 Lane Road Suite 403, Fairfield, NJ 07004
Preparer
Douglas G Sipe CPA LLC
Phone
9086875558
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board will review form 990 before filing”

Raw XML Appendix382 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0PARALLEL EXIT CREATES ORIGINAL WORKS OF PHYSICAL THEATER FOR AUDIENCES OF ALL AGES THE COMPANY ENGAGES IN EXTENSIVE ARTISTIC PROGRAMMING, ARTIST CAPACITY BUILDING, AND YOUTH EDUCATION INITIATIVES, THROUGHOUT NEW YORK CITY'S FIVE BOROUGHS, ACROSS THE UNITED STATES, AND IN COUNTRIES AROUND THE WORLD. PARALLEL EXIT CREATES COMPELLING STORIES THAT ARE FAMILY-FRIENDLY, CULTIVATING ART THAT SPEAKS TO A CULTURALLY BOUNDLESS AUDIENCE OF ANY AGE.
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt046265
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt074191
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD WILL REVIEW FORM 990 BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09662
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03218
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0247406
IRS990/TotalFunctionalExpensesGrp/TotalAmt0260286
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IRS990/TotalLiabilitiesGrp/EOYAmt011894
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IRS990/TotalProgramServiceExpensesAmt0247406
IRS990/TotalProgramServiceRevenueAmt0181558
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0181558
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0270865
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
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IRS990/TravelGrp/TotalAmt010721
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/VotingMembersGoverningBodyCnt06
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW MENENDEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09174077537
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PARALLEL EXIT INC
ReturnHeader/Filer/BusinessNameControlTxt0PARA
ReturnHeader/Filer/EIN0208728956
ReturnHeader/Filer/PhoneNum09174077537
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ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011238
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161642866
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Douglas G Sipe CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt075 Lane Road Suite 403
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Fairfield
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007004
ReturnHeader/PreparerPersonGrp/PhoneNum09086875558
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOUGLAS G SIPE CPA LLC
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-08-29T11:42:19-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MATTHEW
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MENENDEZ
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,811
Liabilities
$11,894
Net assets
$41,917
Revenue
$270,865
Expenses
$260,286
Net income
$10,579
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.34$0.17$0.18$1.21$1.31$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.30$0.02$0.28$1.23$1.47$0.24
2022Detailed filing. Detailed filing data is available for this year.$0.54$0.12$0.42$2.71$2.60$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.24$0.24$0.57$0.43$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.10$0.10$0.55$0.71$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.46$0.41$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.74$0.78$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.23$0.23$0.24$0.20$0.04
2016Summary only. Only limited summary data is available for this year.$0.30$0.00$0.59$0.55$0.04
2015Summary only. Only limited summary data is available for this year.$0.26$0.00$0.76$1.09$0.33
2014Summary only. Only limited summary data is available for this year.$0.59$0.00$1.39$1.11$0.28
2013Summary only. Only limited summary data is available for this year.$0.30$0.00$0.81$0.69$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.00$0.17$0.75$0.80$0.05
2011Summary only. Only limited summary data is available for this year.$0.23$0.02$0.60$0.78$0.18