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Parachute Project Inc
Brooklyn, NY · EIN 922748588 · Form 990 · FY2024 · NTEE B80 · Education · Small ($100K-$1M) · parachuteproject.org
revenue
$226K
expenses
$255K
net assets
$26K
employees
0
program ratio
100%
mission · from form 990

The Parachute Project program opens pathways for global talent to contribute to the United States economy by training the future U.S. workforce. We help global talent and their employers secure H-1B visas without the unpredictability of the lottery. At the heart of our mission are former international students and professionals. We believe they hold the key to enriching the U.S. education system for students across the country.

profile · synthesized from sources

The Parachute Project helps global talent—particularly former international students and professionals—secure cap-exempt H-1B visas through partnerships with universities. By working part-time as mentors for the organization, individuals gain visa eligibility while supporting U.S. college students' career development. The program enables employers to retain foreign talent without relying on the annual H-1B lottery.

named programs · 2 · from sources

What they call their work

Cap-Exempt H-1B Visa Program
Enables global talent to obtain H-1B visas without the lottery by working part-time as mentors for university-affiliated students through a 501(c)(3) nonprofit structure
Mentorship Platform
Connects U.S. college students with experienced professionals in fields such as finance, law, software engineering, and business for career guidance and skill development
activities · 2 groups

What they do

  • Artist Visa and Mobility Support 1 activity
    • Facilitates cap-exempt H-1B visa acquisition for global professionals
      Assists global talent and their employers in securing cap-exempt H-1B visas, enabling foreign professionals to contribute to the U.S. economy without participating in the H-1B lottery.
  • Mentorship and Professional Development Programs 1 activity
    • Operates a nationwide mentorship platform connecting students with professionals
      Provides career mentorship to university students through a structured platform that connects them with experienced professionals in fields such as finance, software engineering, law, entrepreneurship, and technology consulting. Mentors are affiliated with top-tier companies and bring industry-specific credentials and leadership experience.
financials · form 990 · fy2024
revenue
Total revenue$226K
Contributions & grants$226K100%
Program service revenue$00%
Investment income$00%
Other revenue$0
expenses
Total expenses$255K
Program expenses100%
Admin / overhead0%
Fundraising0%
Salaries & benefits$183K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$27K
Cash$23K
Investments$0
Liabilities$638
Net assets$26K
Liquid reserves1.1 mo
2 years on record · 2023–2024 · YoY revenue +41.5%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
Donal Collins Executive Dir. 40 $104K
board members · 1
  • Sampei Omichi — President
relationships · 15

Who they work with

  • CIBC Partner — Chloe Tran held a banking role at CIBC, bringing experience from this firm to her mentorship work.
  • Compass Partner — Chloe Tran serves as a senior analyst at Compass, contributing financial expertise to the organization.
  • Compass Partner — Mentors affiliated with Compass provide career guidance through the platform
  • Ellis Technologies Partner — Ali Ramezanzadeh serves as Chief Compliance Officer at Ellis Technologies while providing pro bono legal counsel to The Parachute Project.
  • JMC Asset Management Partner — Chloe Tran held a role at JMC Asset Management, contributing to her financial sector expertise.
  • Kimmeridge Partner — Wouter Van Eck serves as Associate at Kimmeridge, an energy investment company focused on clean energy investments.
  • MPL Law Firm Partner — Organization where Ash Kumar practices as an attorney.
  • Meta Partner — Mentors affiliated with Meta provide career guidance through the platform
  • New York University Partner — Chloe Tran graduated from NYU with a degree in Economics, Mathematics, and Business Studies.
  • Pinterest Partner — Mentors affiliated with Pinterest provide career guidance through the platform
  • UBS Partner — Mentors affiliated with UBS provide career guidance through the platform
  • University Partners Network — Collaborates with universities to provide mentorship access to students
  • Vietnam Finance Society Partner — Chloe Tran is co-president of the Vietnam Finance Society, a nonprofit that supports young Vietnamese finance professionals in the U.S.
  • innovative universities Partner — Partnered with The Parachute Project to enable cap-exempt H-1B visa applications.
  • partnered universities Partner — Collaborates with universities to provide career development mentorship to students.
strategies · 2

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Integrated Visa Sponsorship and Mentorship Model
    methodology: mentorship-linked_visa_sponsorship
    By combining cap-exempt H-1B visa sponsorship with structured mentorship, the organization enables global professionals to gain legal workforce access while simultaneously contributing to career development programs, because mentorship fulfills regulatory requirements for cap-exempt status and enhances social impact.
  • Professional Mentorship for Career Engagement
    methodology: mentorship-through-professional-excellence
    By connecting aspiring professionals with high-achieving industry mentors, the organization increases engagement and career development outcomes, because mentorship from successful professionals enhances credibility, relatability, and real-world guidance.