Parallel Housing Inc is located in Athens, GA. The organization was established in 2004. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parallel Housing 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 12/2021, Parallel Housing Inc generated $243.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $287.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NA
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alan Gregg Bayard President | 40 | $175,000 | |
Rick Wadsworth Director | 0 | $0 | |
Ron Schwartz Director | 0 | $0 |
Statement of Revenue | |
---|---|
Contributions, Gifts, Grants & Similar | $0 |
Interest on Savings | $290 |
Dividends & Interest | $0 |
Net Rental Income | $0 |
Net Gain on Sale of Assets | $0 |
Capital Gain Net Income | $0 |
Net ST Capital Gain | $0 |
Income Modifications | $0 |
Profit on Inventory Sales | $0 |
Other Income | $243,118 |
Total Revenue | $243,408 |
Statement of Expenses | |
---|---|
Compensation of officers, directors, trustees, etc | $175,000 |
Other employee salaries and wages | $0 |
Pension plans, employee benefits | $0 |
Interest | $0 |
Taxes | $11,624 |
Depreciation | $1,114 |
Occupancy | $0 |
Travel, conferences, and meetings | $8,032 |
Printing and publications | $0 |
Other expenses | $89,838 |
Total operating and administrative expenses | $287,308 |
Contributions, gifts, grants paid | $0 |
Total expenses and disbursements | $287,308 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $148,633 |
Savings and temporary cash investments | $0 |
Net Accounts receivable | $55,837 |
Net Pledges Receivable | $0 |
Grants receivable | $0 |
Receivables from Officers, Directors, or Controlling Persons | $0 |
Net other notes and loans receivable | $361,498 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Investments - land, buildings, equipment | $0 |
Investments—mortgage loans | $0 |
Investments—other | $0 |
Net Land, buildings, and equipment | $5,134 |
Other assets | $127,429 |
Total assets | $698,531 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Mortgages and other notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
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