New Mexico · Nonprofit
Parallel Studios Inc
Parallel Studios Inc (New Mexico) receives grants from 5 organizations whose IRS filings report $410,104 to it, the largest being AMERICAN ENDOWMENT FOUNDATION ($145,000). 5 of them have funded it in more than one year, and 70% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- Revenue FY2024
- $203k
- Funders on record
- 5
- Grants received
- $410k
- Net assets
- $109k
What Parallel Studios Inc does
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.
As stated on its FY2024 Form 990.
Programs
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…
$179,164 spent$40,923 earned by the program100% of program spendingN/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.
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $179,164.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $52k to $92k (+77%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 29% · 2018 28% · 2019 18% · 2020 39% · 2021 44% · 2022 35% · 2023 41% · 2024 54%. Grants only. Government contracts and fees sit inside program revenue.
80% of Parallel Studios Inc’s revenue is contributions — more donation-reliant than the typical peer (64% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Frank Ragano
Executive Director
As listed on its FY2024 Form 990.
Who funds it, year by year
2017 → 2023: the base narrowed from 4 funders to 3 funders, grant income fell $70k → $30k.
3 of 5 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 70% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of Parallel Studios Inc’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
Parallel Studios Inc leans on a few funders — its largest provides 35% of grant income and the top three 89%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
70% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund Parallel Studios Inc.
Largest funder’s share by year: 2017 43% · 2018 56% · 2019 56% · 2020 56% · 2021 40% · 2022 38% · 2023 83% — growing more concentrated.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
70% of Parallel Studios Inc's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $125k that is directly attributable, 100% of it comes from funders outside New Mexico, across 2 states.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $285k arriving through sponsors registered in 3 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
Parallel Studios Inc receives grants from 5 organizations whose IRS filings report $410k to it.
this organization peer median middle 50% of peers· 17,936 arts & culture nonprofits $100k–$1M, FY2024
Government funding Parallel Studios Inc receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $345k on record.
- National Endowment for the Arts$345k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like Parallel Studios Inc
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In New Mexico
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
90% of spending goes to programs.
Governance
Public support
100%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for Parallel Studios Inc: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds Parallel Studios Inc?
- Parallel Studios Inc (New Mexico) receives grants from 5 organizations whose IRS filings report $410,104 to it, the largest being AMERICAN ENDOWMENT FOUNDATION ($145,000). 5 of them have funded it in more than one year, and 70% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- How many funders does Parallel Studios Inc have?
- IRS filings report 5 organizations giving $410,104 in grants to Parallel Studios Inc, 5 of which have funded it in more than one year.
- Who is the largest funder of Parallel Studios Inc?
- AMERICAN ENDOWMENT FOUNDATION is the largest funder on record, with $145,000 in grants. The full list of funders is on this page.
- How can an organization like Parallel Studios Inc find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in New Mexico. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Parallel Studios →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 5 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing