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Nonprofit · EIN 36-4663305

PARALLEL STUDIOS INC

Tax-exempt · SANTA FE, NM 87508

Financials

$229K$213K2023$203K$200K2024
Revenue Expenses · by fiscal year end
Financials of PARALLEL STUDIOS INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$202,799$200,103$2,696$109,253$241$109,012
December 31, 2023990$228,761$213,337$15,424$106,411$98$106,313
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$161,876
of which government grants
$108,908
Program service revenue
$40,923
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$41,909
Salaries, compensation and benefits (total)
$45,286
Professional fundraising fees
$0
Accounting fees
$1,028
Occupancy
$22,581
Program services (functional)
$179,164
Management and general (functional)
$20,939

Balance sheet and other

Total assets, start of year
$106,411
Total assets, end of year
$109,253
Total liabilities, end of year
$241
Net assets, end of year
$109,012
Land, buildings and equipment
$2,534
Net assets without donor restrictions
$109,012
Gross receipts
$202,799
Employees
2
Volunteers
0

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
Hannah KrammSecretary
Trustee or director, Officer
2$0
Anne FarrellPresident
Trustee or director, Officer
2$0
Frank RaganoExecutive Director
Trustee or director
40$0
Mariannah AmsterCreative Director
Trustee or director
31$0
Ken ProkuskiTreasurer
Trustee or director, Officer
2$0
Robert SiquerirosDirector
Trustee or director
2$0
990 for the year ended December 31, 2023: 6 people
NameTitleHours / weekCompensation
FRANK RAGANOEXECUTIVE DI
Trustee or director, Officer
40$27,720
MARIANNAH AMSTERCREATIVE DIR
Trustee or director, Officer
31$10,560
ANNE FARRELLPRESIDENT
Trustee or director, Officer
2$0
HANNAH KRAMMSECRETARY
Trustee or director, Officer
2$0
KEN PROKUSKITREASURER
Trustee or director, Officer
2$0
BOB SIQUEIROSMEMBER
Trustee or director
2$0

Address and contacts

Address (IRS master file)
167 SOARING HAWK TRL, SANTA FE, NM 87508-1414
Mailing address (990-N for 2011)
167 Soaring Hawk Trl, Santa Fe NM 875081414
Principal officer (990 for 2024)
Frank Ragano, 167 Soaring Hawk Trail, Santa Fe, NM 875081414
Principal officer (990-N for 2011)
Richard Lowenberg, PO Box 8001, Santa Fe NM 87504
Signed the 990
Frank Ragano, Executive Director
Phone
(505) 670-6473
Return prepared by
MOORE & ASSOCIATES

Mission

Parallel Studios Inc. supports innovative artists working in the field of art and technology. Our annual festival, educational programs, and exhibitions give the public year-round access to immersive and expansive art experiences.

990 for the year ended December 31, 2024

Program accomplishments

  • The "Currents" Exhibition - Parallel Studios presents its Current New Media Festival for a 10-day period each June in Santa Fe, New Mexico. It offers the community at large the chance to experience the latest in new media arts in an open and non-intimidating environment. We provide docents tours to expand the general public's understanding of the medium. In 2020 the event went virtual due to the pandemic. It included approximately 40 different artists and experiences. 6,500 visitors from 95 countries and every state in the USA attended the on-line festival. Through 2018 exhibits were free and in 2019 a small $5 admission fee was charged to the public so as not to discourage those unfamiliar with thisform from visiting the exhibitions. We are now charging a $10 entry fee for adults and free admission for those 20 and younger. We are committed to a nondiscriminatory approach to community involvement. We create an environment for the participating artists that is conducive to the sharing of information and experience. Selected artists present lectures and hands-on workshops which are open to artists and the public. We strive to engage youth in this art form by inviting youth groups to attend the exhibits and offering guided tours. Knowledgeable docents are available to guide them through the exhibit and answer their questions. We provide tours for over three hundred children from Santa Fe Summer Camp programs, Boys and Girls Clubs and charter school summer programs.
    Expenses $179,164 · revenue $40,923
  • N/A
  • N/A
  • Parallel Studios fosters new media arts and supports artists in creating innovative work. Our annual festival, CURRENTS, educational programs, and exhibition space give the public year-round access to immersive and expansive art experiences.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
36-4663305
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2011
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$109,253
Income (IRS master file)
$202,799

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$202,799$200,103$109,253IRS
990December 2023$228,761$213,337$106,411XML
990December 2022$288,455$279,358$92,393IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990-N for 2011
Officer: Richard Lowenberg
December 31, 2011≤ $50,000 receipts––e-Postcard

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-4663305).

Questions about PARALLEL STUDIOS INC

What is the EIN of PARALLEL STUDIOS INC?
The employer identification number (EIN) of PARALLEL STUDIOS INC is 36-4663305.
Is PARALLEL STUDIOS INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2011.
Are donations to PARALLEL STUDIOS INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PARALLEL STUDIOS INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PARALLEL STUDIOS INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PARALLEL STUDIOS INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of PARALLEL STUDIOS INC?
The 990 for the year ended December 31, 2024 names Frank Ragano.
Who are the officers and directors of PARALLEL STUDIOS INC?
The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
How much revenue does PARALLEL STUDIOS INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $202,799, expenses of $200,103 and total assets of $109,253 at year end.

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