LOS ANGELES PARKS FOUNDATION

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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

2008

Legal Domicile

Principal Officer

Tony Budrovich

Phone

3104721990

Tax Period

2023-01-01 to 2023-12-31

LOS ANGELES PARKS FOUNDATION, founded in 2008, is a community nonprofit in the Recreation & Sports sector that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $2.3M exceeded revenue, resulting in a 36% operating deficit.

Mission

TO ENHANCE, EXPAND, PRESERVE AND PROMOTE PUBLIC RECREATION, PARKS AND OPEN SPACE FOR THE DIVERSE PEOPLE OF LOS ANGELES.

Program Service Accomplishments

Program 1

Expenses: $1,139,654

"SPECIAL PROJECTS PROGRAMS" SUPPORTING THE LOS ANGELES CITY PARKS INCLUDE THE FOLLOWING SIGNIFICANT PROJECTS: LOS ANGELES CLIPPERS BASKETBALL COURTS REFURBISHMENT; NIKE COACH AND REFEREE TRAINING FOR GIRLS YOUTH SPORTS; WERNER FAMILY FOUNDATION PLAYGROUND DONATION. ANGEL CITY FOOTBALL CLUB SUPPORTING GIRLS PLAY LOS ANGELES AND CODING/ROBOTICS PROGRAM AT EXPO RECREATION CENTER.

Program 2

Expenses: $96,566

The Adopt a Park program partners with local businesses, family foundations, schools, and corporate brands who invest $25,000 or more during a year to meet identified needs that can directly benefit a city park. Past projects funded by park adoptions include a basketball court and baseball diamond resurfacing, funding for sports equipment and youth scholarships, program funding for dance and fitness classes, park benches, water fountains, and other needed improvements.

Program 3

Expenses: $89,121

In 2023, the Park Events program funded enhancements of parks for RAP (Los Angeles Recreation and Parks Department), including the following: 1) A traffic study within Griffith Park to measure the...

In 2023, the Park Events program funded enhancements of parks for RAP (Los Angeles Recreation and Parks Department), including the following: 1) A traffic study within Griffith Park to measure the impact of traffic and reduce or eliminate cut-through traffic through the park, calm traffic through the park, and separate active transportation facilities from automobile traffic, and 2) Consultants to prepare a RAP 10-year Strategic Plan.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,586,811

Program Service Revenue $0

Investment Income $140,506

Other Revenue $-24,182

TOTAL REVENUE $1,703,135

Expense Breakdown

Grants Paid $570,097

Salaries & Benefits $627,484

Fundraising Expenses $296,845

Program Expenses $1,570,999

Other Expenses $1,126,262

TOTAL EXPENSES $2,323,843

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,703,135	$3,209,734	-0.5%
Expenses	$2,323,843	$3,448,361	-0.3%
Net Income	$-620,708	$-238,627	+1.6%

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

206

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

$231,360

Total Directors