LIGHTS AND SOUNDS COLLECTIVE INC

EIN: 471106570 501(c)(3) Arts, Culture & Humanities

ROSEMEAD, CA

Total Revenue
$2,818,862
Total Expenses
$2,701,877
Total Assets
$336,276
Net Assets
$315,776
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
CA
Principal Officer
DANIEL H PARK
Phone
2132781570
Tax Period
2023-01-01 to 2023-12-31

LIGHTS AND SOUNDS COLLECTIVE INC, founded in 2014, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 162% from the prior year, signaling strong growth momentum. Expenses of $2.7M left a modest 4% surplus.

Mission

THE PURPOSE OF THIS ORGANIZATION IS TO ADDRESS, EDUCATE, COORDINATE AND PROVIDE MUSICAL MENTORSHIP AND DEVELOPMENT FOR THE GREATER GOOD OF THE COMMUNITY. THIS PURPOSE IS ACCOMPLISHED THROUGH THE HOSTING OF OPEN TO THE PUBLIC COMMUNITY EVENTS.

Program Service Accomplishments

Program 1
Expenses: $2,660,607 Revenue: $2,818,208

WE CONCENTRATE ALL OUR EFFORTS INTO ONE PROGRAM ON THE ANIME IMPULSE EVENT THIS YEAR. WE HOSTED THE ANIME IMPULSE IN JANUARY, MARCH, JULY AND SEPTEMBER OF 2023. THESE COMMUNITY MUSICAL AND CULTURAL...

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WE CONCENTRATE ALL OUR EFFORTS INTO ONE PROGRAM ON THE ANIME IMPULSE EVENT THIS YEAR. WE HOSTED THE ANIME IMPULSE IN JANUARY, MARCH, JULY AND SEPTEMBER OF 2023. THESE COMMUNITY MUSICAL AND CULTURAL EVENTS WERE OPEN TO THE GENERAL PUBLIC WITH EMPHASIS ON MUSIC AND PERFORMANCE ARTISTRY. BEYOND THE ARTISTS WE ALSO HAD A BIG LINE UP OF FOOD AND ARTISTIC SHOWCASES. THE THREE BIGGEST COSTS OF THESE EVENTS ARE THE PAYROLL COSTS, EVENT VENUE & SUPPLIES, AND EVENT PERFORMING ARTISTS COSTS WHICH COSTS ARE $451,185, $1,444,733, AND $476,682 RESPECTIVELY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $653
Program Service Revenue $2,818,208
Investment Income $1
Other Revenue $0
TOTAL REVENUE $2,818,862

Expense Breakdown

Grants Paid $0
Salaries & Benefits $451,185
Fundraising Expenses $0
Program Expenses $2,660,607
Other Expenses $2,250,692
TOTAL EXPENSES $2,701,877

Year-over-Year Comparison

2023 2022 Change
Revenue $2,818,862 $1,077,314 +1.6%
Expenses $2,701,877 $940,517 +1.9%
Net Income $116,985 $136,797 -0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
2
Independent Members
2
Employees
15
Volunteers
19

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
2
$64,000
Total Directors
2
$64,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GORDEN KAO FINANCIAL OFFICER 30.00
Officer Director
$0 $0 $0
DANIEL PARK DIRECTOR 40.00
Officer Director
$64,000 $0 $64,000
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 No data No data No data No data
2023 $2,818,862 $2,701,877 $336,276 $116,985
2022 $1,077,314 $940,517 $244,025 $136,797
2021 $195,723 $211,697 $87,473 $-15,974
2020 $160,523 $138,641 $82,947 $21,882
2019 $392,015 $375,627 $56,088 $16,388
2018 $320,691 $345,639 $39,701 $-24,948
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