Civic Intelligence

Parallel Studios Inc.

990 • Fiscal year 2022 • EIN 36-4663305

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 12, 2023

167 Soaring Hawk TrailSanta Fe, NM 87508-1414

(505) 670-6473

Siviq Scores

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

Liabilities / Assets

61st percentile

0.02x

Higher debt load relative to assets than 61% of similar nonprofits.

2022 filings • NTEE A20 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

55th percentile

0.01x

Higher debt load relative to revenue than 55% of similar nonprofits.

2022 filings • NTEE A20 • <$500k nonprofits • Source year 2022

Net Margin

42nd percentile

3.2%

Higher net margin than 42% of similar nonprofits.

2022 filings • NTEE A20 • <$500k nonprofits • Source year 2022

Top Officer Pay

90th percentile

$32,912

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

2022 filings • NTEE A20 • <$500k nonprofits • Source year 2022

Asset Growth

51st percentile

0.8%

Faster asset growth than 51% of similar nonprofits.

2022 filings • NTEE A20 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

43rd percentile

0.6%

Faster revenue growth than 43% of similar nonprofits.

2022 filings • NTEE A20 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$92,393

Up $711 (+0.8%) from 2021

Net Assets

Up

$90,889

Up $9,097 (+11%) from 2021

Liabilities

Down

$1,504

Down $8,386 (-85%) from 2021

Revenue

Up

$288,455

Up $1,800 (+0.6%) from 2021

Expenses

Up

$279,358

Up $25,409 (+10%) from 2021

Net Income

Down

$9,097

Down $23,609 (-72%) from 2021

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2012: $40,089Liabilities 2012: $30,567Net Assets 2012: $9,5222012Assets 2013: $40,119Liabilities 2013: $32,515Net Assets 2013: $7,6042013Assets 2014: $30,623Liabilities 2014: $19,765Net Assets 2014: $10,8582014Assets 2015: $15,817Liabilities 2015: $2,832Net Assets 2015: $12,9852015Assets 2016: $31,319Liabilities 2016: $13,955Net Assets 2016: $17,3642016Assets 2017: $33,628Liabilities 2017: $12,122Net Assets 2017: $21,5062017Assets 2018: $38,939Liabilities 2018: $12,107Net Assets 2018: $26,8322018Assets 2019: $47,718Liabilities 2019: $19,025Net Assets 2019: $28,6932019Assets 2020: $51,911Liabilities 2020: $2,825Net Assets 2020: $49,0862020Assets 2021: $91,682Liabilities 2021: $9,890Net Assets 2021: $81,7922021Assets 2022: $92,393Liabilities 2022: $1,504Net Assets 2022: $90,8892022Assets 2023: $106,411Liabilities 2023: $98Net Assets 2023: $106,3132023Assets 2024: $109,253Liabilities 2024: $241Net Assets 2024: $109,0122024

Highlighted filing

2022

Assets$92,393
Liabilities$1,504
Net Assets$90,889

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2012: $102,495Expenses 2012: $106,253Net Income 2012: -$3,7582012Revenue 2013: $148,717Expenses 2013: $150,635Net Income 2013: -$1,9182013Revenue 2014: $167,426Expenses 2014: $164,298Net Income 2014: $3,1282014Revenue 2015: $177,898Expenses 2015: $175,771Net Income 2015: $2,1272015Revenue 2016: $205,308Expenses 2016: $201,247Net Income 2016: $4,0612016Revenue 2017: $215,261Expenses 2017: $211,119Net Income 2017: $4,1422017Revenue 2018: $272,948Expenses 2018: $267,622Net Income 2018: $5,3262018Revenue 2019: $267,824Expenses 2019: $265,963Net Income 2019: $1,8612019Revenue 2020: $163,409Expenses 2020: $143,016Net Income 2020: $20,3932020Revenue 2021: $286,655Expenses 2021: $253,949Net Income 2021: $32,7062021Revenue 2022: $288,455Expenses 2022: $279,358Net Income 2022: $9,0972022Revenue 2023: $228,761Expenses 2023: $213,337Net Income 2023: $15,4242023Revenue 2024: $202,799Expenses 2024: $200,103Net Income 2024: $2,6962024

Highlighted filing

2022

Revenue$288,455
Expenses$279,358
Net Income$9,097
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 12, 2023
Return Version
2022v5.0
Gross Receipts
$288,455
Mission and Program Overview

Mission

Parallel studios fosters new media arts and supports artists in creating innovative work. Our annual festival, currents, educational programs, and exhibition space give the public year-round access to immersive and expansive art experiences.

Parallel studios organizes and presents it's currents media festival which gives the community at large the chance to experience the latest in new media arts in an open and non-intimidating environment and to provide docent tours to expand the general public's understanding of the medium. In 2018 exhibits were free and in 2019 the entrance fee to all visitors over 20 years of age was only 5. In 2020 the festival was totally virtual and free. For 2021 we raised our in-personadmission fee to 10 for adults but it remained free for those 20 and younger. We are committed to a non- dircriminatory 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 exhib

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$5,134$68,134▲ $63,000
Cash and Non-Interest-Bearing Accounts$84,014$21,725▼ $62,289
Land, Buildings, and Equipment, Net$2,534$2,534→ $0
Total Assets$91,682$92,393▲ $711
Liabilities
Accounts Payable and Accrued Expenses$5,359--
Other Liabilities$4,531$1,504▼ $3,027
Total Liabilities$9,890$1,504▼ $8,386
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$81,792$90,889▲ $9,097
Total Net Assets Fund Balance$81,792$90,889▲ $9,097
Total Liabilities and Net Assets / Fund Balance$91,682$92,393▲ $711
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Frank RaganoCo Exec. DirectorFT$32,912$32,912
Mariannah AmsterCo Exec. DirectorPT$15,840$15,840

Board Members and Trustees

NameTitle
Anne FarrellPresident
Barak ChamoDirector
Bob SiqueirosDirector
Christine RemyDirector
Isabel Winson-saganDirector
Jenny DayDirector
Jose RoseroDirector
Karen KleinDirector
Katerine Ballard-ryanDirector
Max WalukasDirector
Tom GreenbaumDirector
Hannah KrammSecretary
Ken ProkuskiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$254,557
Program Service Revenue
$33,898
Investment Income
$0
Other Revenue
$0
All Other Contributions
$154,443
Change in Net Assets
$9,097
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$179,883
Salaries, Compensation, and Employee Benefits$99,475
Total Fundraising Expense$13,969
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$41,439$4,875$2,438$48,752
Other Salaries and Wages$36,825$4,332$2,166$43,323
Advertising$31,422$3,697$1,848$36,967
Occupancy$17,418$2,049$1,025$20,492
Office Expenses$6,694$788$395$7,877
Payroll Taxes$6,290$740$370$7,400
All Other Expenses$4,890$576$288$5,754
Other Expenses$3,959$466$233$4,658
Insurance$3,586$422$211$4,219
Total Functional Expenses$237,451$27,938$13,969$279,358
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Current Liabilities$1,504
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 is distributed via e-mail to the entire board for review before filing.

Form 990, Page 6, Part VI, Line 19

The organizations books of record are available upon request. The form 990 is available on guidestar.

Filing and Contact Details

Filer

Filer Name
Parallel Studios Inc
EIN
36-4663305
Phone
5056706473
Address
167 SOARING HAWK TRAIL, SANTA FE, NM 87508-1414

Signing Officer

Name
Frank Ragano
Title
Co Exec. Director
Phone
5056706473
Signed
2023-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Ragano
Voting Board Members
11
Independent Board Members
11
Employees
4

Preparer

Firm
Moore & Associates
Address
1458 S SAINT FRANCIS DR, SANTA FE, NM 87505-4038
Preparer
Richard Moore
Phone
5059881201
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Parallel studios fosters new media arts and supports artists in creating innovative work. Our annual festival, currents, educational programs, and exhibition space give the public year-round access to immersive and expansive art experiences.

Form 990, Page 2, Part III, Line 4A

The "currents" exhibition - parallel studios presents its current news media festival for a 10-day period each june in santa fe, new mexico. It offers the community at large the chance to experience the latest in new media arts in an open and non-intimidating environment. We provide docents tours to expand the general public's understanding of the medium. In 2020 the event went virtual due to the pandemic. It included approximately 40 different artists and experiences. 6,500 visitors from 95 countries and every state in the usa attended the on-line festival. Through 2018 exhibits were free and in 2019 a small 5 admission fee was charged to the public so as not to discourage those unfamiliar with thisform from visiting the exhibitions. We are now charging a 10 entry fee for adults and free admission for those 20 and younger. We are committed to a nondiscriminatory 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 inviting youth groups to attend the exhibits. Knowledgeable docents are available to guide them through the exhibit and answer their questions. We provide tours for over three hundred children from santa fe summer camp programs, boys and girls clubs and charter school summer programs.

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IRS990/RevenueAmt021154
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FISCAL AGENCY FEES 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0244031
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0162620
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0228799
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01148961
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01279291
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01504
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER CURRENT LIABILITIES
IRS990ScheduleD/TotalLiabilityAmt01504
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PARALLEL STUDIOS FOSTERS NEW MEDIA ARTS AND SUPPORTS ARTISTS IN CREATING INNOVATIVE WORK. OUR ANNUAL FESTIVAL, CURRENTS, EDUCATIONAL PROGRAMS, AND EXHIBITION SPACE GIVE THE PUBLIC YEAR-ROUND ACCESS TO IMMERSIVE AND EXPANSIVE ART EXPERIENCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE "CURRENTS" EXHIBITION - PARALLEL STUDIOS PRESENTS ITS CURRENT NEWS MEDIA FESTIVAL FOR A 10-DAY PERIOD EACH JUNE IN SANTA FE, NEW MEXICO. IT OFFERS THE COMMUNITY AT LARGE THE CHANCE TO EXPERIENCE THE LATEST IN NEW MEDIA ARTS IN AN OPEN AND NON-INTIMIDATING ENVIRONMENT. WE PROVIDE DOCENTS TOURS TO EXPAND THE GENERAL PUBLIC'S UNDERSTANDING OF THE MEDIUM. IN 2020 THE EVENT WENT VIRTUAL DUE TO THE PANDEMIC. IT INCLUDED APPROXIMATELY 40 DIFFERENT ARTISTS AND EXPERIENCES. 6,500 VISITORS FROM 95 COUNTRIES AND EVERY STATE IN THE USA ATTENDED THE ON-LINE FESTIVAL. THROUGH 2018 EXHIBITS WERE FREE AND IN 2019 A SMALL 5 ADMISSION FEE WAS CHARGED TO THE PUBLIC SO AS NOT TO DISCOURAGE THOSE UNFAMILIAR WITH THISFORM FROM VISITING THE EXHIBITIONS. WE ARE NOW CHARGING A 10 ENTRY FEE FOR ADULTS AND FREE ADMISSION FOR THOSE 20 AND YOUNGER. WE ARE COMMITTED TO A NONDISCRIMINATORY 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 INVITING YOUTH GROUPS TO ATTEND THE EXHIBITS. KNOWLEDGEABLE DOCENTS ARE AVAILABLE TO GUIDE THEM THROUGH THE EXHIBIT AND ANSWER THEIR QUESTIONS. WE PROVIDE TOURS FOR OVER THREE HUNDRED CHILDREN FROM SANTA FE SUMMER CAMP PROGRAMS, BOYS AND GIRLS CLUBS AND CHARTER SCHOOL SUMMER PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS DISTRIBUTED VIA E-MAIL TO THE ENTIRE BOARD FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATIONS BOOKS OF RECORD ARE AVAILABLE UPON REQUEST. THE FORM 990 IS AVAILABLE ON GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/USAddress/AddressLine1Txt0167 SOARING HAWK TRAIL
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.00$1.09$2.03$2.00$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.00$1.06$2.29$2.13$0.15
2022Detailed filing. Detailed filing data is available for this year.$0.92$0.02$0.91$2.88$2.79$0.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.10$0.82$2.87$2.54$0.33
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.03$0.49$1.63$1.43$0.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.19$0.29$2.68$2.66$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.12$0.27$2.73$2.68$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.12$0.22$2.15$2.11$0.04
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.14$0.17$2.05$2.01$0.04
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.03$0.13$1.78$1.76$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.31$0.20$0.11$1.67$1.64$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.40$0.33$0.08$1.49$1.51$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.31$0.10$1.02$1.06$0.04