Parallel Exit Inc
- Assets
- $43.7k
- Revenue
- $237.8k
- Investments
- $0.0
- Employees
- 21
- Location
- Brooklyn, NY
- Founding
- 05/2009
- Data as of
- 12/2022
- EIN
- 20-8728956
Organization Overview
Parallel Exit Inc is located in Brooklyn, NY. The organization was established in 2009. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Parallel Exit Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parallel Exit Inc 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 12/2022, Parallel Exit Inc generated $237.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 46.8% each year . All expenses for the organization totaled $227.8k during the year ending 12/2022. While expenses have increased by 49.9% per year over the past 6 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
PROVIDES PROGRAMS IN SCHOOOLS AND FOR CHILDREN IN THE ART OF PHYSICAL THEATRE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARALLEL EXIT CREATES MAINSTAGE PRODUCTIONS THAT ARE ACCESSIBLE AND OF INTEREST TO FAMILY AUDIENCES. NEW WORKS FOR THE STAGE ARE CREATED WITH THE OVERARCHING GOAL TO PROVIDE MOMENTS OF INSPIRATIONAL CREATIVITY THAT CAN ONLY BE EXPERIENCED LIVE. PRODUCTIONS IN NEW YORK CITY HAVE BEEN PRESENTED AT VENUES SUCH AS LINCOLN CENTER, THE BROOKLYN ACADEMY OF MUSIC, THE NEW VICTORY THEATER, AND SYMPHONY SPACE.
PARALLEL EXIT CREATES MAINSTAGE PRODUCTIONS THAT ARE ACCESSIBLE AND OF INTEREST TO FAMILY AUDIENCES. NEW WORKS FOR THE STAGE ARE CREATED WITH THE OVERARCHING GOAL TO PROVIDE MOMENTS OF INSPIRATIONAL CREATIVITY THAT CAN ONLY BE EXPERIENCED LIVE. PRODUCTIONS IN NEW YORK CITY HAVE BEEN PRESENTED AT VENUES SUCH AS LINCOLN CENTER, THE BROOKLYN ACADEMY OF MUSIC, THE NEW VICTORY THEATER, AND SYMPHONY SPACE.
PARALLEL EXIT'S PHYSICAL THEATER LAB PROGRAM FURTHERS THE ART FORM AND PROVIDES A PLATFORM OF SUPPORT FOR ITS GREATEST MINDS.THIS PROGRAM IS DEDICATED TO DEVELOPING NEW WORKS OF PHYSICAL THEATER. THE UNUSUAL AND OFTEN DEVISED NATURE OF THIS ART FORM DOES NOT FIT INTO THE STRUCTURE OF TRADITIONAL PLAYWRITING LABS, AND MANY PHYSICAL THEATER ARTISTS REQUIRE GREATER FLEXIBILITY IN DEVELOPING NEW WORK. PARALLEL EXIT FILLS THE VOID. THIS LAB SERIES HAS DEVELOPED FOUR PRODUCTIONS THAT PARALLEL EXIT HAS GONE ON TO PRESENT IN NEW YORK CITY AND ON TOUR.
PARALLEL EXIT'S PHYSICAL THEATER LAB PROGRAM FURTHERS THE ART FORM AND PROVIDES A PLATFORM OF SUPPORT FOR ITS GREATEST MINDS. THIS PROGRAM IS DEDICATED TO DEVELOPING NEW WORKS OF PHYSICAL THEATER. THE UNUSUAL AND OFTEN DEVISED NATURE OF THIS ART FORM DOES NOT FIT INTO THE STRUCTURE OF TRADITIONAL PLAYWRITING LABS, AND MANY PHYSICAL THEATER ARTISTS REQUIRE GREATER FLEXIBILITY IN DEVELOPING NEW WORK. PARALLEL EXIT FILLS THE VOID. THIS LAB SERIES HAS DEVELOPED FOUR PRODUCTIONS THAT PARALLEL EXIT HAS GONE ON TO PRESENT IN NEW YORK CITY AND ON TOUR.
PARALEL EXIT PRESENTS FREE COMMUNITY PERFORMANCES FOR FAMILY AUDIENCES THROUGHOUT NEW YORK CITY.THESE PERFORMANCES ARE OFTEN PRESENTED IN PARTNERSHIP WITH OTHER NONPROFIT INSTITUTIONS SUCH AS THE BROOKLYN ACADEMY OF MUSIC AND THE BROOKLYN PUBLIC LIBRARY. THIS PROGRAM CONNECTS DIRECTLY WITH PARALLEL EXIT'S MISSION TO PRESENT ORIGINAL WORKS OF PHYSICAL THEATER TO AUDIENCES OF ALL AGES IN NEW YORK CITY. PERFORMANCES OFFER AUDIENCES A FREE OPPORTUNITY TO EXPERIENCE INNOVATIVE LIVE PERFORMANCE, ATTRACTING AND EDUCATING A LOYAL AUDIENCE FOR THIS WORK, AND HELPING ESTABLISH PHYSICAL THEATER AS A CULTURAL FORCE IN NEW YORK CITY.
PARALLEL EXIT PRESENTS FREE COMMUNITY PERFORMANCES FOR FAMILY AUDIENCES THROUGHOUT NEW YORK CITY. THESE PERFORMANCES ARE OFTEN PRESENTED IN PARTNERSHIP WITH OTHER NONPROFIT INSTITUTIONS SUCH AS THE BROOKLYN ACADEMY OF MUSIC AND THE BROOKLYN PUBLIC LIBRARY. THIS PROGRAM CONNECTS DIRECTLY WITH PARALLEL EXIT'S MISSION TO PRESENT ORIGINAL WORKS OF PHYSICAL THEATER TO AUDIENCES OF ALL AGES IN NEW YORK CITY. PERFORMANCES OFFER AUDIENCES A FREE OPPORTUNITY TO EXPERIENCE INNOVATIVE LIVE PERFORMANCES, ATTRACTING AND EDUCATING A LOYAL AUDIENCE FOR THIS WORK, AND HELPING ESTABLISH PHYSICAL THEATER AS A CULTURAL FORCE IN NEW YORK CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Menendez President | OfficerTrustee | 5 | $0 |
Ken Banta Vice President | OfficerTrustee | 2 | $0 |
Anita Girdhari Director | OfficerTrustee | 2 | $0 |
Sharon Gurwtz Financial Advisor | OfficerTrustee | 2 | $0 |
Mark Lonergan Artistic Director | Trustee | 10 | $0 |
Suchan Vodoor Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $81,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,207 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,307 |
| Total Program Service Revenue | $148,520 |
| Investment income | $0 |
| 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 | $237,827 |
| 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 | $65,660 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,035 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,821 |
| Fees for services: Other | $73,785 |
| Advertising and promotion | $9,662 |
| Office expenses | $497 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,168 |
| Travel | $7,183 |
| 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 | $0 |
| Insurance | $994 |
| All other expenses | $1,321 |
| Total functional expenses | $227,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,690 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $9,840 |
| 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 | $281 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $43,690 |
| Accounts payable and accrued expenses | $1,894 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $10,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,000 |
| 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 | $33,690 |
| Total liabilities and net assets/fund balances | $43,690 |