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Parallel Exit Inc

EIN 20-8728956 · Brooklyn, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair60 out of 100GovernanceFair62 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

PROVIDES PROGRAMS IN SCHOOLS AND FOR CHILDREN IN THE ART OF PHYSICAL THEATRE.

Income
$116,223
Spending
$113,445
Spent on programs
94%
Reserves
2.1 months of spending
Largest source of income
government grants, 56%
Employees
5
Volunteers
7

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 60 out of 100. Higher than 29% of charities in its peer group (arts and culture, under $250k).

  • Reserves

    10 of 35

    Spendable reserves would cover 2.1 months of spending.

  • Debt

    10 of 20

    It owes 36% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 2% of income.

  • Income trend

    10 of 15

    Income fell 4% on the year before.

  • Spending floor

    15 of 15

    94% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 62 out of 100. Higher than 48% of charities in its peer group (arts and culture, under $250k).

  • Independent board

    25 of 25

    6 of 6 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $64,814 spent. 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. PRODUCTIONS IN NEW YORK CITY HAVE BEEN PRESENTED AT VENUES SUCH AS LINCOLN CENTER, THE BROOKLYN ACADEMY OF MUSIC, THE NEW VICTORY THEATER, AND SYMPHONY SPACE.
  2. $23,000 spent. PARALLEL EXITS 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. THE UNUSUAL AND OFTEN DEVISED NATURE OF THIS ART FORM DOES NOT FIT INTO THE STRUCTURE OF TRADITIONAL PLAYWRITING LABS, AND MANY PHYSICAL THEATER ARTISTS REQUIRE GREATER FLEXIBILITY IN DEVELOPING NEW WORK. PARALLEL EXIT FILLS THE VOID. THIS LAB SERIES HAS DEVELOPED FOUR PRODUCTIONS THAT PARALLEL EXIT HAS GONE ON TO PRESENT IN NEW YORK CITY AND ON TOUR.
  3. $18,493 spent. 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. THIS PROGRAM CONNECTS DIRECTLY WITH PARALLEL EXITS MISSION TO PRESENT ORIGINAL WORKS OF PHYSICAL THEATER TO AUDIENCES OF ALL AGES IN NEW YORK CITY. PERFORMANCES OFFER AUDIENCES A FREE OPPORTUNITY TO EXPERIENCE INNOVATIVE LIVE PERFORMANCE, ATTRACTING AND EDUCATING A LOYAL AUDIENCE FOR THIS WORK, AND HELPING ESTABLISH PHYSICAL THEATER AS A CULTURAL FORCE IN NEW YORK CITY.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 2009.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.