Parallel Exit Inc

Nonprofit profile at a glance

EIN
208728956
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-EZ 2020, Form 990-N 2019
Location
Brooklyn, NY, USA
Phone
9174077537
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$116,223
Expenses
$113,445
Assets
$31,960
Liabilities
$11,661

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • MATTHEW MENENDEZ (PRESIDENT)
  • KEN BANTA (VICE PRESIDENT)

People named in this filing

  • MATTHEW MENENDEZ (PRESIDENT)
  • KEN BANTA (VICE PRESIDENT)
  • ANITA GIRDHARI (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides programs in schools and for children in the art of physical theatre.

What it reported doing in 2025

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.5%; rating input score 91
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.4%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -24.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 91.5% of revenue deployed · 93.7% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $106K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.