THE CARLSBAD LIBRARY AND ARTS FOUN… - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

FRANK RUSCETTI

Phone

4423392049

Tax Period

2025-01-01 to 2025-12-31

THE CARLSBAD LIBRARY AND ARTS FOUNDATION, founded in 1999, is a small nonprofit in the Education sector that reported $128K in total revenue in fiscal year 2025. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $252K exceeded revenue, resulting in a 96% operating deficit.

Mission

FOR THE BENEFIT OF THE CARLSBAD LIBRARY AND ITS PROGRAMS OF FREE ACCESS TO INFORMATION.

Program Service Accomplishments

Program 1

Expenses: $249,931 Revenue: $128,490

THE FOUNDATION PROVIDES SUPPORT TO THE CITY OF CARLSBAD DOVE LIBRARY.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,587

Program Service Revenue $0

Investment Income $126,903

Other Revenue $0

TOTAL REVENUE $128,490

Expense Breakdown

Grants Paid $239,616

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $249,931

Other Expenses $12,575

TOTAL EXPENSES $252,191

Year-over-Year Comparison

	2025	2024	Change
Revenue	$128,490	$361,546	-0.6%
Expenses	$252,191	$173,398	+0.5%
Net Income	$-123,701	$188,148	-1.7%

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

N/A

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
ALFREDO GONZALES	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
GITA NASSIRI	PRESIDENT	2.00	Officer Director	$0	$0	$0
FRANK RUSCETTI	TREASURER	2.00	Officer Director	$0	$0	$0
JOHN LUCAS	SECRETARY	1.00	Officer 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	$128,490	$252,191	$5,478,160	$-123,701
2024	No data	No data	No data	No data
2023	$278,230	$110,678	$4,783,411	$167,552
2022	$81,224	$215,205	$4,288,875	$-133,981
2021	$73,609	$183,657	$5,027,156	$-110,048
2020	$212,843	$222,268	$4,554,691	$-9,425
2019	$145,205	$181,745	$4,396,112	$-36,540
2018	$117,356	$143,971	$3,833,270	$-26,615

THE CARLSBAD LIBRARY AND ARTS FOUNDATION