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Parallel Exit INC FY2023 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2007Arts & Culture EIN 20-8728956Revenue $123K in FY2023Latest 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.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
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
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $4K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$123K
-55% vs prior year
Spent
$147K
To programs
96%
Net assets
$28K
By yearFY2020–FY2025
Revenue
$123K
FY2023▼ -55%
Tap a bar for its year
Revenue by fiscal year
FY2020$55K
FY2021$57K
FY2022$271K
FY2023$123K
FY2024$121K
FY2025$116K
Expenses
$147K
FY2023▼ -44%
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
$28K
FY2023▼ -33%
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 FY2023 Form 990 · see the original

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You’re viewing the FY2023 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

96 cents of each dollar spent went to programs.

Program services 96% · $142K Management & general 4% · $5K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ken Banta
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Sharon Gurwtz
Financial Advisor
$0Pt VII · Sec A
Mark Lonergan
Artistic Director
$0Pt VII · Sec A
$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

Programs and updates

Teaches physical theatre arts to children through school programs.

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3 programs · $142K · in their own filed words · FY2023
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.

$95Kprogram expense
02

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.

$25Kprogram expense
03

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.

$22Kprogram 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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$123K
Ln 12
Gifts and grantsLn 1h$81K
Fees for servicesLn 2g$42K
Money outPt IX
$147K
Ln 25
Programscol B$142K
Managementcol C$5K
Owns and owesPt X
$28K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$30K
LiabilitiesLn 26$2K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$81K
Government grantsLn 1e$72K
Fees for servicesLn 2g$42K
Total revenueLn 12$123K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
Pledges and grants receivableLn 3$10K
Prepaid expenses and deferred chargesLn 9$281
Total assetsLn 16$30K
LiabilitiesLn 26$2K
Net assetsLn 32$28K
OperationsPt I, VI
EmployeesI 55
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$44K$20K
Total assetsLn 16$44K$30K
LiabilitiesLn 26$10K$2K
Net assetsLn 32$34K$28K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$40K$40K$0$0
Payroll taxesLn 10$5K$5K$0$0
Accounting feesLn 11c$5K$0$5K$0
Other fees for servicesLn 11g$50K$50K$0$0
OccupancyLn 16$10K$10K$0$0
TravelLn 17$11K$11K$0$0
InsuranceLn 23$6K$6K$0$0
Other expenses (24a–d)Ln 24$19K$19K$0$0
All other expensesLn 24e$871$665$206$0
Total functional expensesLn 25$147K$142K$5K$0

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
FY2023 ViewingFiled with the IRS May 15, 2024 $123K$147K−$24K$28K 990 PDF
FY2022Filed 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

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $122,870 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $89,307$80,759
I-9 Program service revenuePrior year $148,520$42,111
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $237,827$122,870
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $75,695$45,066
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $152,130$101,673
I-18 Total expensesPrior year $227,825$146,739
I-19 Revenue less expensesPrior year $10,002−$23,869
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
Part VIII · Statement of revenue $122,870 across 5 lines filed
VIII-1e Government grants$72,230
VIII-1f All other contributions, gifts and grants$8,529
VIII-1h Total contributions, gifts and grants$80,759
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$42,111
VIII-12 Total revenueRelated to mission $42,111 · Unrelated business $0 · Excluded from tax $0$122,870
Part IX · Statement of functional expenses $146,739 across 9 lines filed
IX-7 Other salaries and wagesPrograms $40,381 · Management $0 · Fundraising $0$40,381
IX-10 Payroll taxesPrograms $4,685 · Management $0 · Fundraising $0$4,685
IX-11c Accounting feesPrograms $0 · Management $5,000 · Fundraising $0$5,000
IX-11g Other fees for servicesPrograms $49,967 · Management $0 · Fundraising $0$49,967
IX-16 OccupancyPrograms $10,000 · Management $0 · Fundraising $0$10,000
IX-17 TravelPrograms $10,907 · Management $0 · Fundraising $0$10,907
IX-23 InsurancePrograms $6,141 · Management $0 · Fundraising $0$6,141
IX-24 Other expenses (24a–d)Programs $18,787 · Management $0 · Fundraising $0$18,787
IX-24e All other expensesPrograms $665 · Management $206 · Fundraising $0$871
IX-25 Total functional expensesPrograms $141,533 · Management $5,206 · Fundraising $0$146,739
Part X · Balance sheet $29,943 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $43,690$19,822
X-3 Pledges and grants receivable$9,840
X-9 Prepaid expenses and deferred charges$281
X-16 Total assetsStart of year $43,690$29,943
X-17 Accounts payable and accrued expenses$1,895
X-26 Total liabilitiesStart of year $10,000$1,895
X-31 Retained earnings or endowmentStart of year $33,690$28,048
X-32 Total net assets or fund balancesStart of year $33,690$28,048
X-33 Total liabilities and net assetsStart of year $43,690$29,943
Part XI · Reconciliation of net assets $28,048 net assets at year end
XI-1 Total revenue$122,870
XI-2 Total expenses$146,739
XI-3 Revenue less expenses−$23,869
XI-4 Net assets at start of year$33,690
XI-10 Net assets at end of year$28,048

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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