Parallel Studios Inc in Santa Fe, New Mexico (NM)
Table of contents:
| Parallel Studios Inc | |
| Employer Identification Number (EIN) | 364663305 |
| Name of Organization | Parallel Studios Inc |
| In Care of Name | Richard Lowenberg |
| Address | 167 Soaring Hawk Trl, Santa Fe, NM 87508-1414 |
| Website | http://www.currentsnewmedia.org |
| Subsection | Charitable Organization |
| Ruling Date | 02/2011 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 2011 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $40,119 |
| Amount of Income | $148,717 |
| Form 990 Revenue Amount | $148,717 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Arts, Cultural Organizations - Multipurpose |
Non-representatives - add comments:
Amount of income in 2011: $148,717 (it was $148,717 in 2013)
| This organization: | $148,717 |
| Other organizations performing similar types of work: | $59,050 |
Assets in 2011: $40,119 (it was $40,119 in 2013)
| Parallel Studios Inc: | $40,119 |
| Other organizations performing similar types of work: | $25,518 |
Expenses in 2013: $150,635
| This organization: | $150,635 |
| Other organizations performing similar types of work: | $51,518 |
Income to expenses ratio in 2013: 1.0
| Parallel Studios Inc: | 1.0 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 92.3%
| Parallel Studios Inc: | 92.3% |
| Other organizations performing similar types of work: | 1.3% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||
| 2012 | 2013 | |
|---|---|---|
| Total revenue | $102,495 | $148,717 |
| Contributions, gifts, grants, and similar amounts received | $94,871 | $137,256 |
| Program service revenue including government fees and contracts | $6,544 | $10,381 |
| Membership dues and assessments | $0 | $0 |
| Investment income | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 |
| Other revenue | $1,080 | $1,080 |
| Total expenses | $106,253 | $150,635 |
| Total net assets | $9,522 | $7,604 |
| Excess/Deficit for the year | $-3,758 | $-1,918 |
| Net assets or fund balances at beginning of year | $13,280 | $9,522 |
| Other changes in net assets or fund balances | $0 | $0 |
| Net assets or fund balances at end of year | $9,522 | $7,604 |
| Balance Sheets | ||
| 2012 | 2013 | |
|---|---|---|
| Total assets | $40,089 | $40,119 |
| Total liabilities | $30,567 | $32,515 |
| Net assets or fund balances | $9,522 | $7,604 |
| Other Information | ||
| 2012 | 2013 | |
|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No |
| Were any significant changes made to the organizing or governing documents? | No | No |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No |
| Has the organization filed a Form 990-T for the year? | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No |
| Amount of political expenditures, direct or indirect | $0 | $0 |
| Did the organization file Form 1120-POL for this year? | No | No |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No |
| Total amount involved | $0 | $0 |
| Initiation fees and capital contributions | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $249,052 |
| Subtotal | $249,052 |
| Gifts, grants, contributions, and membership fees received | $238,171 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $10,881 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $251,212 |
| Public support | $249,052 |
| Subtotal | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $2,160 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Womans Art Club Of Cincinnati Foundation | 6980 Cambridge Ave, Cincinnati, OH 45227-3362 | OH | 2007-03 | $122,085 |
| 2 | New Mexico Advocates For The Arts Inc | PO BOX 938, Las Cruces, NM 88004-0938 | NM | 2014-02 | $221,745 |
| 3 | Parallel Studios Inc | 167 Soaring Hawk Trl, Santa Fe, NM 87508-1414 | NM | 2011-02 | $148,717 |
| 4 | Santa Fe Artists Market Inc | 1000 Cordova Place 272, Santa Fe, NM 87505-1725 | NM | 2012-11 | $74,751 |
| 5 | Santa Fe Short Story Festival | 826 Camino De Monte Rey Ste A-6, Santa Fe, NM 87505-3961 | NM | 2005-11 | $70,457 |
| 6 | Empower New Mexico Inc | 119 Sunlit Dr West, Santa Fe, NM 87508 | NM | 2010-11 | $44,583 |
| 7 | Corrales Society Of Artists-New Mexico Artists Market | 6216 Calle De Vida Nw, Albuquerque, NM 87114 | NM | 2014-08 | $36,994 |
| 8 | International Land-Sensitive Art Foundation, Ilsaf | PO BOX 9270, Santa Fe, NM 87504-9270 | NM | 2013-09 | $33,585 |
| 9 | Ruidoso Regional Council For The Arts Inc | 1712 Sudderth Dr, Ruidoso, NM 88345-6113 | NM | 2003-10 | $24,143 |
| 10 | Tibet Center-New Mexico Inc | Po Box 65974, Albuquerque, NM 87193-5974 | NM | 2012-06 | $10,240 |
| 11 | Touchstone Foundation Inc | PO BOX 1885, Taos, NM 87571-1885 | NM | 2001-05 | $1,000 |
| 12 | All One Thread Inc | 505 La Lomita Road, Taos, NM 87571 | NM | 2014-11 | $0 |
| 13 | American Sewing Guild Inc, Las Cruces Chapter | 2761 Lookout Ridge Dr, Las Cruces, NM 88011-0832 | NM | 1986-03 | $0 |
| 14 | Another Planet Cultural Foundation Inc | PO BOX 65, Las Cruces, NM 88004-0065 | NM | 2005-10 | $0 |
| 15 | Artforms Artist Association Of New Mexico | 4652 Calle De Nubes, Las Cruces, NM 88012 | NM | 2000-08 | $0 |
| 16 | Arts League International Inc | PO BOX 867, Columbus, NM 88029-0867 | NM | 2007-06 | $0 |
| 17 | Artworks America Corporation | Po Box 32384, Santa Fe, NM 87594 | NM | 2011-02 | $0 |
| 18 | Aztec Highland Games Celtic Music Festival | 322 S Mesa Verde Avenue, Aztec, NM 87410 | NM | 2015-01 | $0 |
| 19 | Bali Art Project | 46 Old Agua Fria Road W, Santa Fe, NM 87508 | NM | 2002-11 | $0 |
| 20 | Bead Society Of New Mexico | Po Box 36824, Albuquerque, NM 87176 | NM | 2008-07 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 6,763 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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