Civic Intelligence

Parallel Exit Inc.

990 • Fiscal year 2022 • EIN 20-8728956

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 10, 2023

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

(917) 407-7537

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$43,690

Up $20,002 (+84%) from 2021

Net Assets

Up

$33,690

Up $10,002 (+42%) from 2021

Liabilities

$10,000

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

Up

$237,827

Up $180,928 (+318%) from 2021

Expenses

Up

$227,825

Up $184,944 (+431%) from 2021

Net Income

Down

$10,002

Down $4,016 (-29%) from 2021

Historical Trend

Balance Sheet Trend

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 2022: $43,690Liabilities 2022: $10,000Net Assets 2022: $33,6902022Assets 2023: $29,943Liabilities 2023: $1,895Net Assets 2023: $28,0482023Assets 2024: $34,082Liabilities 2024: $16,561Net Assets 2024: $17,5212024

Highlighted filing

2022

Assets$43,690
Liabilities$10,000
Net Assets$33,690
Open 2022 Filing

Operations Trend

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 2022: $237,827Expenses 2022: $227,825Net Income 2022: $10,0022022Revenue 2023: $122,870Expenses 2023: $146,739Net Income 2023: -$23,8692023Revenue 2024: $120,867Expenses 2024: $131,394Net Income 2024: -$10,5272024

Highlighted filing

2022

Revenue$237,827
Expenses$227,825
Net Income$10,002
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$237,827
Mission and Program Overview

Mission

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

Provides programs in schoools 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$33,690▲ $10,002
Loans From Officers Directors-$10,000-
Total Assets$23,688$43,690▲ $20,002
Liabilities
Total Liabilities$0$10,000▲ $10,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$23,688$33,690▲ $10,002
Total Liabilities and Net Assets / Fund Balance$23,688$43,690▲ $20,002
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$89,307
Program Service Revenue
$148,520
Investment Income
$0
Other Revenue
$0
All Other Contributions
$8,207
Change in Net Assets
$10,002
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$152,130
Salaries, Compensation, and Employee Benefits$75,695
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$71,964$1,821$0$73,785
Other Salaries and Wages$65,660$0$0$65,660
Other Expenses$14,813$0$0$14,813
Payroll Taxes$10,035$0$0$10,035
Advertising$9,662$0$0$9,662
Travel$7,183$0$0$7,183
Occupancy$2,168$0$0$2,168
All Other Expenses$1,321$0$0$1,321
Insurance$994$0$0$994
Fees for Services Accounting$0$900$0$900
Office Expenses$0$497$0$497
Total Functional Expenses$224,467$3,358$0$227,825
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
Yes
Audit committee
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
2023-11-10
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
Rich and Bander Llp
Address
79 Madison Avenue 2nd Floor, New York, NY 10016
Preparer
Jonathan a Bander
Phone
2126842470
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board will review form 990 before filing”

Form 990, Part IX, Line 11G

“Artistic fees 71964. 71964. 0. 0.”

Form 990, Part IX, Line 11G

“Other professional fees 1821. 0. 1821.”

Financial Statement Notes

Pt X, Line 2

“The organization has evaluated its current tax positions and has concluded that as of december 31, 2022, the organization does not have any significant uncertain tax positions for which a reserve would be necessary.”

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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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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0237827
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt056899
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt055456
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt046265
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt074191
IRS990ScheduleA/Total509Grp/TotalAmt0470638
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0470638
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
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2022, THE ORGANIZATION DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt010000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CASH FLOW LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt010000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0MARK LONERGAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0ARTISTIC DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt010000
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD WILL REVIEW FORM 990 BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ARTISTIC FEES 71964. 71964. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OTHER PROFESSIONAL FEES 1821. 0. 1821.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt023688
IRS990/TotalAssetsEOYAmt043690
IRS990/TotalAssetsGrp/BOYAmt023688
IRS990/TotalAssetsGrp/EOYAmt043690
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt089307
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03358
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0224467
IRS990/TotalFunctionalExpensesGrp/TotalAmt0227825
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt010000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt010000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt023688
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt033690
IRS990/TotalProgramServiceExpensesAmt0224467
IRS990/TotalProgramServiceRevenueAmt0148520
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0148520
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0237827
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023688
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt043690
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt07183
IRS990/TravelGrp/TotalAmt07183
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0175 EASTERN PARKWAY
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011238
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.PARALLELEXIT.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW MENENDEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09174077537
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PARALLEL EXIT INC
ReturnHeader/Filer/BusinessNameControlTxt0PARA
ReturnHeader/Filer/EIN0208728956
ReturnHeader/Filer/PhoneNum09174077537
ReturnHeader/Filer/USAddress/AddressLine1Txt0175 EASTERN PARKWAY
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011238
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202747426
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RICH AND BANDER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt079 Madison Avenue 2nd Floor
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010016
ReturnHeader/PreparerPersonGrp/PhoneNum02126842470
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JONATHAN A BANDER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-11-10T11:13:57-08:00
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
$43,690
Liabilities
$10,000
Net assets
$33,690
Revenue
$237,827
Expenses
$227,825
Net income
$10,002
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
2022Detailed filing. Detailed filing data is available for this year.$0.44$0.10$0.34$2.38$2.28$0.10
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