SURFING HERITAGE AND CULTURE CENTER

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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

2000

Legal Domicile

Principal Officer

JEFF ALTER

Phone

9493880313

Tax Period

2024-04-01 to 2025-03-31

SURFING HERITAGE AND CULTURE CENTER, founded in 2000, is a small nonprofit in the Arts, Culture & Humanities sector that reported $860K in total revenue in fiscal year 2024. Revenue surged 101% from the prior year, signaling strong growth momentum. The organization ran a surplus of $160K, a strong 19% operating margin.

Mission

THE SURFING HERITAGE FOUNDATION IS DEDICATED TO PRESERVING THE HISTORY OF SURFING. WE COLLECT, PRESERVE, AND DOCUMENT SURF CRAFT, PRINT, PHOTOS, ORAL HISTORIES, ART, CINEMATOGRAPHY, AND SURFING MEMORABILIA FOR THE APPRECIATION AND EDUCATION OF CURRENT AND FUTURE GENERATIONS.

Program Service Accomplishments

Program 1

Expenses: $575,417 Revenue: $13,400

THE SURFING HERITAGE AND CULTURE CENTER (SHACC) OFFERS HOSTED AND INDIVIDUAL TOURS OF ITS EXTENSIVE COLLECTION, FEATURING APPROXIMATELY 500 HISTORIC SURFBOARDS AND 100,000 PHOTOGRAPHS. SHACC BOASTS A TOTAL COLLECTION OF AROUND 500,000 OBJECTS. IN 2024 ALONE, THE WEBSITE HAS ATTRACTED OVER 24,000 VISITS, WITH TOTAL VISITS SURPASSING 200,000. SHACC IS ACTIVE ON SOCIAL MEDIA, WITH OVER 23,000 INSTAGRAM FOLLOWERS, 24,000 FACEBOOK FOLLOWERS. IN ADDITION TO WELCOMING APPROXIMATELY 2,500 VISITORS ANNUALLY, SHACC HAS LOANED ITEMS FROM ITS ARCHIVE TO ENHANCE OTHER MUSEUM EXHIBITS. THE ORGANIZATION IS ALSO DEVELOPING EDUCATIONAL CURRICULA FOR SCHOOLS IN CALIFORNIA AND BEYOND. RECENTLY, SHACC CURATED AN EXHIBIT OF HISTORIC WORLD CHAMPIONSHIP AND OLYMPIC MEDALIST SURFBOARDS, AND THE LATEST EXHIBIT IS A TRIBUTE TO PHOTOGRAPHER, AUTHOR, ENVIRONMENTALIST, IMAX FILM PRODUCER, AND SURF FILMMAKER GREG MACGILLIVRAY. BOTH EXHIBITS ARE NOW SHOWCASED AT THE CENTER.

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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 (2024)

Revenue Breakdown

Contributions & Grants $760,917

Program Service Revenue $2,625

Investment Income $63,109

Other Revenue $33,506

TOTAL REVENUE $860,157

Expense Breakdown

Grants Paid $0

Salaries & Benefits $340,993

Fundraising Expenses $47,107

Program Expenses $575,417

Other Expenses $359,128

TOTAL EXPENSES $700,121

Year-over-Year Comparison

	2024	2023	Change
Revenue	$860,157	$427,544	+1.0%
Expenses	$700,121	$987,176	-0.3%
Net Income	$160,036	$-559,632	-1.3%

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

N/A

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

$121,333

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL IZZI	FMR EXEC DIR	40.00	Officer	$93,333	$0	$93,333
JEFF ALTER	EXECUTIVE DI	40.00	Officer	$28,000	$0	$28,000
ROYCE CANSLER	DIRECTOR	0.00	Director	$0	$0	$0
MARK CHRISTY	CO-CHAIR	20.00	Director	$0	$0	$0
SPENCER CROUL	FMR CO-CHAIR	20.00	Officer Director	$0	$0	$0
GREG DILLION	DIRECTOR	0.00	Director	$0	$0	$0
MICHAEL DOVEY	DIRECTOR	N/A	Director	$0	$0	$0
BILL EDDY	DIRECTOR	0.00	Director	$0	$0	$0
RICH FIGONE	DIRECTOR	0.00	Director	$0	$0	$0
RANDY HILD	DIRECTOR	0.00	Director	$0	$0	$0
GREG MACGILIVRAY	DIRECTOR	0.00	Director	$0	$0	$0
ROBERT MARDAIN	DIRECTOR	0.00	Director	$0	$0	$0
JOHN MAZZA	DIRECTOR	0.00	Director	$0	$0	$0
DAN MCINERY	SECRETARY	1.00	Director	$0	$0	$0
DICK METZ	DIRECTOR	0.00	Director	$0	$0	$0
DENNY MICHAEL	FMR SECRETAR	1.00	Director	$0	$0	$0
PAUL NAUDE	CO-CHAIR	20.00	Director	$0	$0	$0
PATTI PANICCIA	FMR CO-CHAIR	20.00	Officer Director	$0	$0	$0
PAUL STRAUCH	DIRECTOR	0.00	Director	$0	$0	$0
TOM SULLIVAN	DIRECTOR	N/A	Director	$0	$0	$0
CANDY WOODWARD	DIRECTOR	0.00	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	$860,157	$700,121	$5,691,082	$160,036
2024	$427,544	$987,176	$5,567,159	$-559,632
2023	$281,492	$437,258	$6,072,267	$-155,766
2022	$637,009	$560,559	$6,225,091	$76,450
2021	$1,991,284	$383,456	$6,146,175	$1,607,828
2020	$452,714	$450,989	$4,538,327	$1,725
2019	$343,956	$449,374	$4,537,693	$-105,418