LOS ANGELES ORGANIZING COMMITTEE F… - 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

2014

Legal Domicile

Principal Officer

KAREN STURGES

Phone

4243204500

Tax Period

2023-01-01 to 2023-12-31

LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028, founded in 2014, is a mid-sized nonprofit in the Recreation & Sports sector that reported $12.3M in total revenue in fiscal year 2023. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $78.4M exceeded revenue, resulting in a 535% operating deficit.

Mission

THE CORPORATION IS ORGANIZED PRIMARILY TO IMPROVE AND ENHANCE THE QUALITY OF LIFE OF THE RESIDENTS OF LOS ANGELES, CALIFORNIA AND THE SURROUNDING AREA THROUGH THE HOSTING OF THE GAMES OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES ("COLLECTIVELY, THE "GAMES").

Program Service Accomplishments

Program 1

Expenses: $36,026,440 Revenue: $2,026,465

THE ORGANIZATION WORKS WITH THE CITY OF LOS ANGELES, THE UNITED STATES OLYMPIC & PARALYMPIC COMMITTEE ("USOPC") AND THE INTERNATIONAL OLYMPIC COMMITTEE ("IOC") TO HOST THE OLYMPIC AND PARALYMPIC...

THE ORGANIZATION WORKS WITH THE CITY OF LOS ANGELES, THE UNITED STATES OLYMPIC & PARALYMPIC COMMITTEE ("USOPC") AND THE INTERNATIONAL OLYMPIC COMMITTEE ("IOC") TO HOST THE OLYMPIC AND PARALYMPIC GAMES IN LOS ANGELES AND THE SURROUNDING AREA. THE OLYMPIC AND PARALYMPIC GAMES WERE AWARDED TO THE CITY OF LOS ANGELES FOR 2028. AS PART OF ITS WORK, THE ORGANIZATION REACHES OUT TO THE COMMUNITY IN LOS ANGELES, INCLUDING FORMER OLYMPIANS AND PARALYMPIANS, TO GATHER SUPPORT AND RAISE FUNDS TO HOST THE 2028 OLYMPIC AND PARALYMPIC GAMES.

Program 2

Expenses: $15,293,997

THE ORGANIZATION WILL FUND UP TO $160 MILLION IN YOUTH SPORTS IN THE CITY OF LOS ANGELES TO MAKE SPORTS MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELENOS LEADING UP TO THE GAMES IN 2028...

THE ORGANIZATION WILL FUND UP TO $160 MILLION IN YOUTH SPORTS IN THE CITY OF LOS ANGELES TO MAKE SPORTS MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELENOS LEADING UP TO THE GAMES IN 2028, BEGINNING THE LEGACY OF THE 2028 OLYMPIC AND PARALYMPIC GAMES.

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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 $8,000,000

Program Service Revenue $2,021,255

Investment Income $2,318,209

Other Revenue $5,210

TOTAL REVENUE $12,344,674

Expense Breakdown

Grants Paid $15,293,997

Salaries & Benefits $34,741,849

Fundraising Expenses $0

Program Expenses $51,320,437

Other Expenses $28,334,015

TOTAL EXPENSES $78,369,861

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,344,674	$53,663,980	-0.8%
Expenses	$78,369,861	$140,219,665	-0.4%
Net Income	$-66,025,187	$-86,555,685	-0.2%

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

157

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

$11,004,345

Total Directors

$2,303,792

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER PEPE	DIRECTOR/USOPP CHIEF COMMERCIAL OFFICER	0.10	Director	$0	$1,148	$928,358
DANIEL KOBLIN	DIRECTOR/USOPP CHIEF OPERATING OFFICER	0.10	Director	$0	$6,168	$718,548
JANET B EVANS	CHIEF ATHLETE OFFICER	40.00	Officer Director	$656,762	$124	$656,886
CASEY WASSERMAN	CHAIRPERSON/PRESIDENT	0.50	Officer Director	$0	$0	$0
BEATRIZ ACEVEDO	DIRECTOR	0.10	Director	$0	$0	$0
JESSICA ALBA	DIRECTOR	0.10	Director	$0	$0	$0
MARK ATTANASIO	DIRECTOR	0.10	Director	$0	$0	$0
JEANIE BUSS	DIRECTOR	0.10	Director	$0	$0	$0
ANDY CAMPION	DIRECTOR	0.10	Director	$0	$0	$0
ELAINE CHAO	DIRECTOR (BEGIN 01/23)	0.10	Director	$0	$0	$0
MUFFY DAVIS	DIRECTOR	0.10	Director	$0	$0	$0
ANITA DE FRANTZ	DIRECTOR	0.10	Director	$0	$0	$0
JOSE E FELICIANO	DIRECTOR (BEGIN 01/23)	0.10	Director	$0	$0	$0
LEX GILLETTE	DIRECTOR (BEGIN 01/23)	0.10	Director	$0	$0	$0
DAVID HAGGERTY	DIRECTOR	0.10	Director	$0	$0	$0
SARAH HIRSHLAND	DIRECTOR	0.10	Director	$0	$0	$0
MELLODY HOBSON	DIRECTOR	0.10	Director	$0	$0	$0
MATT JOHNSON	DIRECTOR	0.10	Director	$0	$0	$0
MICHAEL JOHNSON	DIRECTOR	0.10	Director	$0	$0	$0
JEFFREY KATZENBERG	DIRECTOR	0.10	Director	$0	$0	$0
KATIE LEDECKY	DIRECTOR (BEGIN 01/23)	0.10	Director	$0	$0	$0
JAMIE LEE	DIRECTOR	0.10	Director	$0	$0	$0
ANN PHILBIN	DIRECTOR	0.10	Director	$0	$0	$0
ALISON RESSLER	DIRECTOR	0.10	Director	$0	$0	$0
PETE RODRIGUEZ	DIRECTOR (BEGIN 07/23)	0.10	Director	$0	$0	$0
DANA SMITH	DIRECTOR	0.10	Director	$0	$0	$0
MEGAN SMITH	DIRECTOR	0.10	Director	$0	$0	$0
MARC STERN	DIRECTOR	0.10	Director	$0	$0	$0
GENE SYKES	DIRECTOR	0.10	Director	$0	$0	$0
MARK TATUM	DIRECTOR	0.10	Director	$0	$0	$0
STUART WALDMAN	DIRECTOR	0.10	Director	$0	$0	$0
AMY WAKELAND	DIRECTOR (END 05/23)	0.10	Director	$0	$0	$0
YVONNE WHEELER	DIRECTOR (BEGIN 07/23)	0.10	Director	$0	$0	$0
AMY GLEESON	CHIEF MARKETING OFFICER	40.00	Officer	$572,267	$6,409	$578,676
ANNA SCHMITZ	SR. MANAGER, RISK	20.00	Officer	$207,677	$5,075	$212,752
BRIAN LAFEMINA	CHIEF BUSINESS OFFICER (END 12/23)	40.00	Officer	$3,124,348	$6,344	$3,130,692
DAVID MICHAEL	CHIEF INFORMATION OFFICER	20.00	Officer	$652,541	$4,320	$656,861
JOHN M HARPER	CHIEF OPERATING OFFICER	40.00	Officer	$694,723	$8,544	$703,267
KAREN STURGES	CHIEF FINANCIAL OFFICER	20.00	Officer	$629,320	$6,168	$635,488
KATHRYN CARTER	CHIEF EXECUTIVE OFFICER (END 12/23)	20.00	Officer	$1,995,290	$4,554	$1,999,844
MAUREEN HARPER	SVP, HUMAN RESOURCES	20.00	Officer	$394,301	$6,568	$400,869
MICHELLE SCHWARTZ	CHIEF EXTERNAL AFFAIRS OFFICER	40.00	Officer	$618,282	$2,580	$620,862
ELISABETH FREINBERG	SVP & DEPUTY GENERAL COUNSEL	40.00	Officer	$377,967	$9,963	$387,930
TANJA OLANO	CHIEF LEGAL & PEOPLE OFFICER AND CHIEF COMPLIANCE	20.00	Officer	$1,017,905	$2,313	$1,020,218
ALLISON KATZ-MAYFIELD	SVP, GAMES DELIVERY REVENUE	40.00	Highest	$379,702	$1,980	$381,682
MIKE BERNSTEIN	VP, INSIGHTS & ANALYTICS	40.00	Highest	$358,962	$9,218	$368,180
DANA LENT	VP, GAMES EXPERIENCES & ENGAGEMENT	40.00	Highest	$325,697	$1,956	$327,653
MARIA WU KISKIS	VP, INFORMATION KNOWLEDGE & GAMES LEARNING	40.00	Highest	$325,144	$2,461	$327,605
MICHAEL BUTKOVIC	SVP, FINANCIAL PLANNING & ANALYSIS	40.00	Highest	$323,740	$5,286	$329,026
PATRICIA FEAU	VP, HOST CITY RELATIONS/FORMER ASST SEC	40.00		$321,888	$9,309	$331,197

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	$12,344,674	$78,369,861	$141,706,906	$-66,025,187
2022	$53,663,980	$140,219,665	$65,050,984	$-86,555,685
2021	$21,974,824	$93,243,446	$21,819,265	$-71,268,622
2020	$2,628,198	$36,493,126	$48,751,518	$-33,864,928
2019	$1,392,332	$23,412,779	$41,966,738	$-22,020,447

LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028