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Parallel Hope Schools INC FY2023 filing

Tax-deductible

Rockville, MD501(c)(3)Since 2017EducationEIN 82-3717614

Parallel Hope Schools, Inc. will be a place for the purposeful education of children and will work to establish schools and tutoring centers designed to train and educate children for success in their own purpose, using the tools through which they best learn, and will educate and prepare students for a career or college and life. Parallel Hope Schools, Inc., will provide a safe and loving environment for students to learn. Parallel Hope Schools, Inc., will seek excellence in all that we do.

501(c)(3) charity; gifts are tax-deductible.
100¢ 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
3 of 5
filings with a surplus
Average surplus $1K a year · 23% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
13 mo
of spending, in cash
Looks good: 12.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $32
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1K
-88% vs prior year
Spent
$7K
To programs
100%
Net assets
$8K
By yearFY2021–FY2025
Revenue
$1K
FY2023▼ -88%
Revenue by fiscal year
FY2021$5K
FY2022$12K
FY2023$1K
FY2024$6K
FY2025$3K
FY2025$1K
Expenses
$7K
FY2023▲ +163%
Expenses by fiscal year
FY2021$1K
FY2022$3K
FY2023$7K
FY2024$7K
FY2025$1K
FY2025$479
Net assets
$8K
FY2023▼ -44%
Net assets by fiscal year
FY2021$5K
FY2022$13K
FY2023$8K
FY2024$6K
FY2025$7K
FY2025$8K

From the FY2023 Form 990 (year ending June 2023) · 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 Feb 2019.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $7K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Jill Freund
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Pius Ogbewe
Vice Chair
$0Pt VII · Sec A
Robert Silberman
Board Member
$0Pt VII · Sec A
Annette Laguerre
Administrator and Treasurer
$0Pt VII · Sec A
See Parallel Hope Schools INC executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates children for success and prepares them for careers, college, and life.

Provided by the organization

This section is blank until Parallel Hope Schools INC claims this page.

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3 program services account for $7K of program spending, described in the organization's own filed words · FY2022.
01

Establish an operational school program, including raising public awareness of the new school program. This is being accomplished using volunteers, with the exception of the zoning process and the website rebuild.

$4Kprogram expense
02

Establish a curriculum and library for the educational program. This includes expenses delayed from the 2021-2022 fiscal year.

$3Kprogram expense
03

Continue to establish foundational regulations, roles, and bylaws. Completed by volunteers.

Pt IX · col B

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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
Amazonsmile FoundationFY2023$32
Total grants receivedfrom 1 funder$32

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1K
Ln 12
Gifts and grantsLn 1h$1K
Money outPt IX
$7K
Ln 25
Programscol B$7K
Owns and owesPt X
$8K
net assets · Ln 32
Cash and savingsLn 1–2$8K
Total assetsLn 16$8K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$1K
Assets in detailPt X, end of year
CashLn 1$8K
SavingsLn 2$0
Cash and savings togetherLn 1–2$8K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$8K
LiabilitiesLn 26$0
Net assetsLn 32$8K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
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$13K$8K
InvestmentsLn 11–13$0$0
Total assetsLn 16$13K$8K
LiabilitiesLn 26$0$0
Net assetsLn 32$13K$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other expenses (24a–d)Ln 24$7K$7K$0$0
Total functional expensesLn 25$7K$7K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 $3K$1K$1K$7K 990 PDF
FY2024 $6K$7K−$2K$6K 990 PDF
FY2023 Viewing $1K$7K−$6K$8K 990 PDF
FY2022 $12K$3K$9K$13K 990 PDF
FY2021 $5K$1K$4K$5K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,344 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$1,344
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,344
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$1,344
Part IX · Statement of functional expenses $7,222 across 1 line filed
IX-24 Other expenses (24a–d)Programs $7,222 · Management $0 · Fundraising $0$7,222
IX-25 Total functional expensesPrograms $7,222 · Management $0 · Fundraising $0$7,222
Part X · Balance sheet $7,554 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $13,432$7,554
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $13,432$7,554
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $13,432$7,554
X-33 Total liabilities and net assetsStart of year $13,432$7,554
Part XI · Reconciliation of net assets $7,554 net assets at year end
XI-1 Total revenue$1,344
XI-2 Total expenses$7,222
XI-3 Revenue less expenses−$5,878
XI-4 Net assets at start of year$13,432
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,554

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

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