CRAFT CONTEMPORARY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

RODY LOPEZ

Phone

3239374230

Tax Period

2022-07-01 to 2023-06-30

CRAFT CONTEMPORARY, founded in 1974, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2022. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $423K, a strong 25% operating margin.

Mission

THE CRAFT CONTEMPORARY CHALLENGES ESTABLISHED IDEAS ABOUT CRAFT AND FOLK ART AND ENGAGES PEOPLE THOUGH DIVERSE EXHIBITIONS AND PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $1,025,940 Revenue: $212,004

CRAFT CONTEMPORARY IS AN ART MUSEUM WHOSE PURPOSE IS TO REVEAL THE POTENTIAL OF CRAFT TO EDUCATE, CAPTIVATE, PROVOKE, AND EMPOWER. CRAFT CONTEMPORARY ACHIEVES ITS MISSION BY EXHIBITING THE ARTISTS OF OUR TIME, GIVING VOICE TO LOCAL ARTISTS, EMERGING ARTISTS AND OFTEN UNDER-RECOGNIZED MID-CAREER ARTISTS BY CREATING APPROXIMATELY 6 EXHIBITIONS ANNUALLY. THE MUSEUM STRIVES TO ACHIEVE EQUITABLE ACCESS THROUGH FREE AND LOW-COST PROGRAMS, THE INCLUSION OF MULTIPLE TEACHING ARTISTS FROM COMMUNITIES THROUGHOUT L. A., AND A FULL ROSTER OF PUBLIC PROGRAMS INCLUDING: MONTHLY MAKER NIGHTS ARTIST TALKS AND STUDIO VISITS SCHOOL TOURS (FOR ELEMENTARY SCHOOL THROUGH COLLEGE) CRAFT YOUTH CULTURE TEEN PROGRAM AN OLDER ADULT WORKSHOP SERIES CALLED CRAFTING HISTORIES MONTHLY FAMILY WORKSHOP PROGRAMS CLASSES IN CRAFT SKILL DEVELOPMENT

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,390,930

Program Service Revenue $72,133

Investment Income $11,820

Other Revenue $209,057

TOTAL REVENUE $1,683,940

Expense Breakdown

Grants Paid $0

Salaries & Benefits $708,151

Fundraising Expenses $70,099

Program Expenses $1,025,940

Other Expenses $552,990

TOTAL EXPENSES $1,261,141

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,683,940	$1,082,760	+0.6%
Expenses	$1,261,141	$1,077,316	+0.2%
Net Income	$422,799	$5,444	+76.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD ERICKSON	CHAIR	5.00	Officer Director	$0	$0	$0
WALLY MARKS III	DIRECTOR	1.00	Director	$0	$0	$0
JANICE POBER	DIRECTOR	1.00	Director	$0	$0	$0
STAN SAVAGE	DIRECTOR	1.00	Director	$0	$0	$0
ALAN ZAFRAN	DIRECTOR	1.00	Director	$0	$0	$0
BRAD FRY	DIRECTOR	1.00	Director	$0	$0	$0
JOE CORIATY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
AMELIA COBB	DIRECTOR	1.00	Director	$0	$0	$0
NANCY ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
CORINNA COTSEN	CO-CHAIR	5.00	Officer Director	$0	$0	$0
GLEN TITAN	DIRECTOR	1.00	Director	$0	$0	$0
PETER WENDEL	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW OGILVIE	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE MINARDOS	DIRECTOR	1.00	Director	$0	$0	$0
JANE CHANG	DIRECTOR	1.00	Director	$0	$0	$0
ROBBY GORDON	DIRECTOR	1.00	Director	$0	$0	$0
JULIE STROMBERG	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,683,940	$1,261,141	$3,420,103	$422,799
2023	No data	No data	No data	No data
2022	$1,082,760	$1,077,316	$2,837,876	$5,444
2021	$1,271,529	$779,520	$3,049,926	$492,009
2020	$1,858,620	$992,980	$2,386,814	$865,640
2019	$1,014,893	$972,576	$1,425,663	$42,317