Parallel Studios Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $202,799
- Spending
- $200,103
- Spent on programs
- 90%
- Reserves
- 6.4 months of spending
- Largest source of income
- government grants, 54%
- Employees
- 2
- Volunteers
- 0
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 80 out of 100. Higher than 61% of charities in its peer group (arts and culture, under $250k).
Reserves
28 of 35Spendable reserves would cover 6.4 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
12 of 15Income exceeded spending by 1% of income.
Income trend
5 of 15Income fell 11% on the year before.
Spending floor
15 of 1590% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Fair: 50 out of 100. Higher than 25% of charities in its peer group (arts and culture, under $250k).
Independent board
25 of 256 of 6 voting board members are independent.
Conflict of interest policy
0 of 15Reports no written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, 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 (4)
- $179,164 spent. 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.
- 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.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 2011.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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.