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Parallel Exit INC FY2022 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2007Arts & Culture EIN 20-8728956Revenue $271K in FY2022Latest return filed May 14, 2026

On file with the IRSparallelexit.comBrooklyn, NYTax-exempt since May 2009Publicly supported — 509(a)(2)

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Provides programs in schools and for children in the art of physical theatre.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $5K a year · 3% of revenue · last 4 filings
A surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
95%
of spending
95% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
2.0 mo
of spending, in cash
2.0 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $4K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$12K
22% of total assets
Liabilities are 22% of assets.
Pt X · Ln 26
Independent board members
6
of 6 voting members
6 of 6 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$271K
+376% vs prior year
Spent
$260K
To programs
95%
Net assets
$42K
By yearFY2020–FY2025
Revenue
$271K
FY2022▲ +376%
Tap a bar for its year
Revenue by fiscal year
FY2020$55K
FY2021$57K
FY2022$271K
FY2023$123K
FY2024$121K
FY2025$116K
Expenses
$260K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$260K
FY2023$147K
FY2024$131K
FY2025$113K
Net assets
$42K
FY2022▲ +77%
Tap a bar for its year
Net assets by fiscal year
FY2020$10K
FY2021$24K
FY2022$42K
FY2023$28K
FY2024$18K
FY2025$20K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $247K Management & general 1% · $3K Fundraising 4% · $10K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ken Banta
Vice President
$0Pt VII · Sec A
Mark Lonergan
Artistic Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ken Banta
Vice President
$0Pt VII · Sec A
See Parallel Exit INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Teaches physical theatre arts to children through school programs.

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4 programs · $452K · in their own filed words · FY2022
01

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.

$227Kprogram expense
02

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.

$204Kprogram expense
03

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.

$10Kprogram expense
04

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.

$10Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Mary Jane Hipp Brock Fam Foundation Mary Jane Hipp Brock TteeFY2023$4K
Amazonsmile FoundationFY2023$16
Total grants receivedfrom 2 funders$4K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$271K
Ln 12
Fees for servicesLn 2g$182K
Gifts and grantsLn 1h$89K
Money outPt IX
$260K
Ln 25
Programscol B$247K
Managementcol C$3K
Fundraisingcol D$10K
Owns and owesPt X
$42K
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$54K
LiabilitiesLn 26$12K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$89K
Government grantsLn 1e$81K
Fees for servicesLn 2g$182K
Total revenueLn 12$271K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$44K
Total assetsLn 16$54K
LiabilitiesLn 26$12K
Net assetsLn 32$42K
OperationsPt I, VI
EmployeesI 55
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 14, 2026 $116K$113K$3K$20K 990 PDF
FY2024Filed with the IRS May 15, 2025 $121K$131K−$11K$18K 990 PDF
FY2023Filed with the IRS May 15, 2024 $123K$147K−$24K$28K 990 PDF
FY2022 ViewingFiled with the IRS Aug 29, 2023 $271K$260K$11K$42K 990 PDF
FY2021Filed with the IRS Nov 6, 2022 $57K$24K 990 PDF
FY2020Filed with the IRS Nov 13, 2021 $55K$10K 990 PDF

Schedules filed Part IV

A · Public support O · Explanations
See the full FY2022 990
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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