Parallax Advanced Research Corp
Parallax Advanced Research Corp consistently expends nearly all revenue on operations, showing no reported officer compensation.
EIN: 161704454 · Beavercrk Twp, OH · NTEE: U054 · Updated: 2026-03-28
Is Parallax Advanced Research Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Parallax Advanced Research Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Parallax Advanced Research Corp
Parallax Advanced Research Corp (EIN: 161704454) is a nonprofit organization based in Beavercrk Twp, OH, classified under NTEE code U054. The organization reported total revenue of $57.6M and total assets of $27.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Parallax Advanced Research Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Parallax Advanced Research Corp is a major nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 45.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $46.0M |
| Total Expenses | $45.8M |
| Surplus / Deficit | +$173K |
| Total Assets | $23.1M |
| Total Liabilities | $19.8M |
| Net Assets | $3.4M |
| Operating Margin | 0.4% |
| Debt-to-Asset Ratio | 85.5% |
| Months of Reserves | 6.1 months |
Financial Health Grade: A
In 2023, Parallax Advanced Research Corp reported a surplus of $173K with revenue exceeding expenses, holds 6.1 months of operating reserves (strong position), has a debt-to-asset ratio of 85.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Parallax Advanced Research Corp's revenue has grown at a compound annual growth rate (CAGR) of 45.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.9% | +12.8% | +48.1% |
| 2022 | -4.4% | -5.1% | +11.5% |
| 2021 | +40.0% | +41.1% | -6.3% |
| 2020 | -2.7% | -2.8% | +20.1% |
| 2019 | +8.1% | +5.5% | -25.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Parallax Advanced Research Corp with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Parallax Advanced Research Corp allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $173K, with revenue exceeding expenses.
- Debt-to-asset ratio: 85.5%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an organization of this size with revenues exceeding $57 million. This could indicate that executive leadership is entirely volunteer-based or that compensation is categorized differently, warranting further investigation for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Parallax Advanced Research Corp's IRS 990 filings:
- Unusually low or zero reported officer compensation for an organization of this size, which may obscure actual executive benefits if reported elsewhere.
Strengths
The following positive indicators were identified for Parallax Advanced Research Corp:
- Consistent operational efficiency with expenses closely matching revenues, indicating funds are actively used for mission.
- Significant growth in revenue and assets over the past decade, demonstrating organizational expansion and stability.
- No reported officer compensation across all filings, potentially indicating a high percentage of funds directed to programs.
- Healthy asset base of $27,590,845, providing financial stability and capacity for future initiatives.
Frequently Asked Questions about Parallax Advanced Research Corp
Is Parallax Advanced Research Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Parallax Advanced Research Corp (EIN: 161704454) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Parallax Advanced Research Corp spend its money?
Parallax Advanced Research Corp directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Parallax Advanced Research Corp tax-deductible?
Parallax Advanced Research Corp is registered as a tax-exempt nonprofit (EIN: 161704454). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Parallax Advanced Research Corp a good charity?
Based on the provided data, Parallax Advanced Research Corp appears to be a financially sound organization with a strong focus on program delivery, as evidenced by revenues closely matching expenses and no reported officer compensation. Its consistent growth in assets and revenue also suggests effective management and impact.
How does Parallax Advanced Research Corp manage its executive compensation?
The provided IRS 990 data consistently shows 0% officer compensation across all 13 filings. This is a significant finding for an organization of its scale and suggests either a volunteer executive structure or that executive compensation is reported under other expense categories, which would require deeper scrutiny of the full 990 forms.
What is the trend in Parallax Advanced Research Corp's financial growth?
Parallax Advanced Research Corp has shown substantial financial growth, with revenue increasing from $14,380,911 in 2014 to $45,989,638 in 2023, and assets growing from $11,308,412 to $23,131,458 in the same period. This indicates a healthy expansion of its operations and resource base.
Filing History
IRS 990 filing history for Parallax Advanced Research Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Parallax Advanced Research Corp's revenue has grown by 8659.4%, moving from $525K to $46.0M. Total assets increased by 190.8% over the same period, from $8.0M to $23.1M. Total functional expenses rose by 1916.9%, from $2.3M to $45.8M. In its most recent filing year (2023), Parallax Advanced Research Corp reported a surplus of $173K, with revenue exceeding expenses. The organization holds $19.8M in liabilities against $23.1M in assets (debt-to-asset ratio: 85.5%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $46.0M | $45.8M | $23.1M | $19.8M | — | View 990 |
| 2022 | $40.7M | $40.6M | $15.6M | $12.4M | — | View 990 |
| 2021 | $42.6M | $42.8M | $14.0M | $10.9M | — | View 990 |
| 2020 | $30.4M | $30.3M | $15.0M | $11.7M | — | View 990 |
| 2019 | $31.3M | $31.2M | $12.5M | $9.3M | — | View 990 |
| 2018 | $28.9M | $29.6M | $16.7M | $13.6M | — | View 990 |
| 2017 | $20.2M | $21.0M | $23.5M | $18.5M | — | View 990 |
| 2016 | $20.5M | $17.1M | $18.7M | $12.8M | — | View 990 |
| 2015 | $15.4M | $16.0M | $11.2M | $8.8M | — | View 990 |
| 2014 | $14.4M | $12.6M | $11.3M | $8.3M | — | View 990 |
| 2013 | $9.2M | $9.1M | $14.0M | $12.8M | — | View 990 |
| 2012 | $1.8M | $7.5M | $6.7M | $5.5M | — | View 990 |
| 2011 | $525K | $2.3M | $8.0M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $46.0M, expenses of $45.8M, and assets of $23.1M (revenue +12.9% year-over-year).
- 2022: Revenue of $40.7M, expenses of $40.6M, and assets of $15.6M (revenue -4.4% year-over-year).
- 2021: Revenue of $42.6M, expenses of $42.8M, and assets of $14.0M (revenue +40.0% year-over-year).
- 2020: Revenue of $30.4M, expenses of $30.3M, and assets of $15.0M (revenue -2.7% year-over-year).
- 2019: Revenue of $31.3M, expenses of $31.2M, and assets of $12.5M (revenue +8.1% year-over-year).
- 2018: Revenue of $28.9M, expenses of $29.6M, and assets of $16.7M (revenue +43.4% year-over-year).
- 2017: Revenue of $20.2M, expenses of $21.0M, and assets of $23.5M (revenue -1.7% year-over-year).
- 2016: Revenue of $20.5M, expenses of $17.1M, and assets of $18.7M (revenue +33.5% year-over-year).
- 2015: Revenue of $15.4M, expenses of $16.0M, and assets of $11.2M (revenue +6.9% year-over-year).
- 2014: Revenue of $14.4M, expenses of $12.6M, and assets of $11.3M (revenue +56.9% year-over-year).
- 2013: Revenue of $9.2M, expenses of $9.1M, and assets of $14.0M (revenue +399.0% year-over-year).
- 2012: Revenue of $1.8M, expenses of $7.5M, and assets of $6.7M (revenue +249.9% year-over-year).
- 2011: Revenue of $525K, expenses of $2.3M, and assets of $8.0M.
Data Sources and Methodology
This transparency report for Parallax Advanced Research Corp is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.