40 WEST ARTS INC

EIN: 452729060 501(c)(3) Arts, Culture & Humanities

Lakewood, CO

Total Revenue
$281,460
Total Expenses
$355,042
Total Assets
$90,062
Net Assets
$90,062
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
CO
Principal Officer
William P Marino
Phone
7205306051
Tax Period
2024-01-01 to 2024-12-31

40 WEST ARTS INC, founded in 2011, is a small nonprofit in the Arts, Culture & Humanities sector that reported $281K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $355K exceeded revenue, resulting in a 26% operating deficit.

Mission

Vision: To accelerate the re-emergence of Lakewoods historic West Colfax corridor as a vibrant creative corridor and a memorable commercial destination; Mission: To enrich the community and enhance the creative cultural and economic vitality of the historic West Colfax corridor by creating or catalyzing community arts spaces and community arts events and by facilitating creative enterprises experiences and activities in the district; Values: To be an inclusive organization with a commitment to creativity that inspires artistic experimentation for both the novice and professional and advances the creative cultural entrepreneurial economic and physical vitality of our community.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $281,460
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $281,460

Expense Breakdown

Grants Paid $0
Salaries & Benefits $83,880
Fundraising Expenses $0
Program Expenses $290,240
Other Expenses $271,162
TOTAL EXPENSES $355,042

Year-over-Year Comparison

2024 2023 Change
Revenue $281,460 $304,322 -0.1%
Expenses $355,042 $307,431 +0.2%
Net Income $-73,582 $-3,109 +22.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
33

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
5
$76,000
Total Directors
8
$0
Key Employees
2
$144,000
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Liz Black PT Exec Director 25.00
Officer Key Emp Highest
$0 $38,000 $76,000
Terra Marks Gallery Manager 20.00
Key Emp
$0 $34,000 $68,000
William Marino Board Chair 25.00
Officer Director
$0 $0 $0
Kevin Yoshida Board Member and Treasurer 10.00
Officer Director
$0 $0 $0
Katja Walton Board Member and Vice Chair 10.00
Officer Director
$0 $0 $0
Joe Ott Board Member 15.00
Director
$0 $0 $0
Keely Garcia Board Member and Board Secretary 10.00
Officer Director
$0 $0 $0
Olivia Garia Board Member 10.00
Director
$0 $0 $0
Jonathan Marcantoni 10.00
Director
$0 $0 $0
Melissa Estepp 10.00
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
2024 $281,460 $355,042 $90,062 $-73,582
2023 $304,322 $307,431 $169,452 $-3,109
2022 $565,906 $475,433 $170,374 $90,473
2022 $565,906 $475,433 $170,374 $90,473
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