Parallax Advanced Research Corp
- Assets
- $15.6m
- Revenue
- $40.7m
- Investments
- $0.0
- Employees
- 162
- Location
- Beavercreek, OH
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 16-1704454
Organization Overview
Parallax Advanced Research Corp is located in Beavercreek, OH. The organization was established in 2007. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Parallax Advanced Research Corp employed 162 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parallax Advanced Research Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Parallax Advanced Research Corp generated $40.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $40.6m during the year ending 06/2022. While expenses have increased by 13.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PART I, LINE 1 THE ORGANIZATION'S MISSION IS TO OPERATE EXCLUSIVELY FOR SCIENTIFIC, EDUCATIONAL AND CHARITABLE PURPOSES TO INCLUDE PROMOTING, ENCOURAGING AND ASSISTING IN SCIENTIFIC RESEARCH AND DEVELOPMENT FOR THE BENEFIT OF THE PUBLIC AND THE TRANSITION TO OHIO INDUSTRY OF ADVANCED DATA COLLECTION, MANAGEMENT AND ANALYSIS TECHNOLOGIES. FOSTERING COLLABORATION BETWEEN THE RESEARCH CENTERS OF OHIO INFORMATION TECHNOLOGY AND RELATED COMPANIES, ACADEMIC INSTITUTIONS AND GOVERNMENTAL RESEARCH FACILITIES, ENCOURAGING THE RETENTION, DEVELOPMENT AND EXPANSION OF THE INFORMATION TECHNOLOGY AND RELATED INDUSTRIES IN OHIO AND PROMOTING, ENCOURAGING AND ASSISTING IN SCIENTIFIC RESEARCH TO AID IN THE EDUCATION OF COLLEGE AND UNIVERSITY STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OBJECTIVE: ESTABLISH A SUSTAINABLE BUSINESS MODEL TO DRIVE THE ECONOMIC IMPACT OF INFORMATIONAL TECHNOLOGY IN OHIO. THE DEFINED BUSINESS MODEL HAS SEVERAL SOURCES OF REVENUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Andersh CEO & Presid | OfficerTrustee | 40 | $313,708 |
Mary Margaret Evans Secretary | Officer | 40 | $259,036 |
Michael Pearsall Treasurer | Officer | 40 | $258,248 |
Robert Tanner Key Employee | Officer | $239,519 | |
Viktoria Greanya Key Employee | Officer | $238,550 | |
Bruce Howard Key Employee | Officer | $223,107 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rwm Cpkii Llc Direct Odc | 6/29/22 | $919,511 |
Mountain Valley Partners Llc Direct Odc | 6/29/22 | $2,030,740 |
Ger Reb Realty Llc Direct Odc | 6/29/22 | $1,100,492 |
361 Interactive Llc Subcontractor | 6/29/22 | $846,922 |
True United Contractors Llc Facility Maint. | 6/29/22 | $877,503 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $39,236,272 |
| Investment income | $56 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,733,328 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,575,110 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $690,007 |
| Fees for services: Accounting | $201,028 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $68,548 |
| Information technology | $28,817 |
| Royalties | $0 |
| Occupancy | $281,053 |
| Travel | $286,772 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $396,812 |
| Insurance | $154,967 |
| All other expenses | $2,146,207 |
| Total functional expenses | $40,618,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,917 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,885,272 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $275,117 |
| Net Land, buildings, and equipment | $3,188,541 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,622,847 |
| Accounts payable and accrued expenses | $7,907,685 |
| Grants payable | $0 |
| Deferred revenue | $3,126,823 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,405,000 |
| Other liabilities | $0 |
| Total liabilities | $12,439,508 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,183,339 |
| Total liabilities and net assets/fund balances | $15,622,847 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Parallax Advanced Research Corp has recieved totaling $5,600.
| Awarding Organization | Amount |
|---|---|
Greater Dayton Area Health Information Network Dayton, OH PURPOSE: FOR HEALTH CARE PREPAREDNESS | $5,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Parallax Advanced Research Corp Beavercreek, OH | $15,622,847 | $40,733,328 |
Altarum Institute Ann Arbor, MI | $56,576,753 | $34,183,665 |
Advanced Robotics For Manufacturing Institute Pittsburgh, PA | $8,985,791 | $26,581,090 |
University City Science Center Philadelphia, PA | $110,800,620 | $66,305,846 |
Mid Atlantic Technology Research And Innovation Center Inc South Charleston, WV | $6,385,617 | $13,785,560 |
Indiana Biosciences Research Institute Inc Indianapolis, IN | $179,409,136 | $10,008,922 |
Iup Research Institute Indiana, PA | $2,848,522 | $4,793,628 |
Energy Industries Of Ohio Independence, OH | $770,477 | $4,328,724 |
Center For Automotive Research Ann Arbor, MI | $911,154 | $2,931,484 |
North American Council For Freight Efficiency Fort Wayne, IN | $945,729 | $1,448,155 |
Ethos Inc Elkhart, IN | $7,597,037 | $1,049,008 |
Solution Mining Research Institute Inc Clarks Summit, PA | $954,697 | $900,501 |