Parallel 45 INC FY2023 filing

Traverse City, MIUnknown exempt organization EIN 26-2125174Revenue $197K in FY2023Latest return filed Apr 22, 2025

On file with the IRSparallel45.orgTraverse City, MI

Claim this org

(tell your story, add context, and more) Claim it free, then get the verified mark for $100 a year.

How does your 990 look to donors? Take the 10-Question Audit

We expect to entertain, encourage critical thought, and inspire through the presentation of theatrical expressions of new works, reinvented classics, and imaginative adaptations for the stage.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-2125174) · Dispute this line
54¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
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 6
filings with a surplus
Average deficit $19K a year · 6% of revenue · last 6 filings
A surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
54%
of spending
54% of spending went to programs.
Pt IX · Ln 25 · col B
0.9 mo
of spending, in cash
0.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $25K
3 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$74K
102% of total assets
Liabilities are 102% of assets.
Pt X · Ln 26
Independent board members
10
of 10 voting members
10 of 10 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$197K
-70% vs prior year
Spent
$253K
To programs
54%
Net assets
−$1K
By yearFY2020–FY2025
Revenue
$197K
FY2023▼ -70%
Tap a bar for its year
Revenue by fiscal year
FY2020$433K
FY2021$583K
FY2022$667K
FY2023$197K
FY2024$44K
FY2025$10K
Expenses
$253K
FY2023▼ -61%
Tap a bar for its year
Expenses by fiscal year
FY2020$433K
FY2021$666K
FY2022$643K
FY2023$253K
FY2024$45K
FY2025$7K
Net assets
−$1K
FY2023▼ -102%
Tap a bar for its year
Net assets by fiscal year
FY2020$157K
FY2021$74K
FY2022$55K
FY2023−$1K
FY2024−$2K
FY2025$0

From the FY2023 Form 990 (year ending August 2023) · see the original

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

Where the money goes

54 cents of each dollar spent went to programs.

Program services 54% · $136K Management & general 46% · $117K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Parallel 45 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

Presents plays to entertain, encourage thought, and inspire audiences.

Questions for Parallel 45 INC

Tap to ask. Parallel 45 INC sees how many people are interested.

Your first name shows with your question. Parallel 45 INC answers here, for everyone.

1 program · $136K · in their own filed words · FY2022
01

In December 2022, Parallel 45 Theatre produced A Christmas Carol in Prose followed by an early 2023, production of 4 winter-spring play readings involving over 30 local artists. The remainder of the time period was spent connecting with supporters, stakeholders, artists, and other community organizations in an attempt to raise funds…

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-2125174) · Dispute this line
$136Kprogram 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
Total grants receivedfrom 3 funders$25K
See all 3 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$197K
Ln 12
Gifts and grantsLn 1h$160K
Fees for servicesLn 2g$36K
Money outPt IX
$253K
Ln 25
Programscol B$136K
Managementcol C$117K
Owns and owesPt X
−$1K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$73K
LiabilitiesLn 26$74K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$160K
Government grantsLn 1e$21K
Fees for servicesLn 2g$36K
Gains on assetsLn 7$0
Total revenueLn 12$197K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
Inventories for sale or useLn 8$639
Land, buildings, equipmentLn 10c$53K
Total assetsLn 16$73K
LiabilitiesLn 26$74K
Net assetsLn 32−$1K
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
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$30K$20K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$74K$53K
Total assetsLn 16$105K$73K
LiabilitiesLn 26$50K$74K
Net assetsLn 32$55K−$1K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of officers and key staff (Part IX, line 5)Ln 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$94K$54K$39K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$3K$3K
Payroll taxesLn 10$6K$4K$3K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$5K$5K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$1K$1K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$61K$45K$15K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$7K$7K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$21K$21K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$36K$9K$27K
All other expensesLn 24e$6K$3K$3K
Total functional expensesLn 25$253K$136K$117K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 22, 2025 $10K$7K$2K$0 990 PDF
FY2024Filed with the IRS Apr 18, 2025 $44K$45K−$1K−$2K 990 PDF
FY2023 ViewingFiled with the IRS Dec 18, 2023 $197K$253K−$56K−$1K 990 PDF
FY2022Filed with the IRS Jul 15, 2023 $667K$643K$23K$55K 990 PDF
FY2021Filed with the IRS Jul 14, 2022 $583K$666K−$83K$74K 990 PDF
FY2020Filed with the IRS Feb 12, 2021 $433K$433K−$131$157K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2023 990
Part I · Summary $196,634 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $491,922$160,455
I-9 Program service revenuePrior year $168,992$36,179
I-10 Investment income$0
I-11 Other revenuePrior year $5,588$0
I-12 Total revenuePrior year $666,502$196,634
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $233,688$103,526
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $409,511$149,358
I-18 Total expensesPrior year $643,199$252,884
I-19 Revenue less expensesPrior year $23,303−$56,250
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $196,634 across 10 lines filed
VIII-1e Government grants$21,150
VIII-1f All other contributions, gifts and grants$139,305
VIII-1h Total contributions, gifts and grants$160,455
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $36,179$36,179
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $36,179$196,634
Part IX · Statement of functional expenses $252,884 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of officers and key staff (Part IX, line 5)$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $54,465 · Management $39,440$93,905
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsManagement $3,174$3,174
IX-10 Payroll taxesPrograms $3,739 · Management $2,708$6,447
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $5,400$5,400
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $2,000$2,000
IX-12 Advertising and promotionManagement $4,393$4,393
IX-13 Office expensesManagement $1,245$1,245
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $45,326 · Management $15,389$60,715
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $6,985$6,985
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $21,067$21,067
IX-23 InsuranceManagement $6,137$6,137
IX-24 Other expenses (24a–d)Programs $8,559 · Management $27,089$35,648
IX-24e All other expensesPrograms $2,752 · Management $3,016$5,768
IX-25 Total functional expensesPrograms $135,908 · Management $116,976 · Fundraising $0$252,884
Part X · Balance sheet $73,047 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $30,435$19,737
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivable$0
X-8 Inventories for sale or useStart of year $639$639
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $73,738$52,671
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $104,812$73,047
X-23 Secured mortgages and notes payableStart of year $43,743$74,323
X-25 Other liabilitiesStart of year $3$1
X-26 Total liabilitiesStart of year $49,839$74,324
X-27 Net assets without donor restrictionsStart of year $54,973−$1,277
X-32 Total net assets or fund balancesStart of year $54,973−$1,277
X-33 Total liabilities and net assetsStart of year $104,812$73,047
Part XI · Reconciliation of net assets −$1,277 net assets at year end
XI-1 Total revenue$196,634
XI-2 Total expenses$252,884
XI-3 Revenue less expenses−$56,250
XI-4 Net assets at start of year$54,973
XI-10 Net assets at end of year−$1,277

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

Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

All figures come from public IRS Form 990 filings. Comparisons are computed from the filing against similar orgs. They are not a rating.