OLD MONTEREY BUSINESS ASSOCIATION

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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

1994

Legal Domicile

Principal Officer

PETER COFRESI

Phone

8316558070

Tax Period

2023-01-01 to 2023-12-31

OLD MONTEREY BUSINESS ASSOCIATION, founded in 1994, is a small nonprofit that reported $356K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $307K left a modest 14% surplus.

Mission

THE ASSOCIATION PROMOTES THE CENTRAL COMMERCIAL CORE OF MONTEREY TO MAKE VISITORS AND RESIDENTS AWARE OF THE RICH HISTORY OF THE CITY. MONTEREY WAS THE FIRST CAPITOL OF CALIFORNIA AND ITS OLDEST BUILDINGS DISPLAY THE ARCHITECTURE OF EARLY CALIFORNIA, BEFORE IT BECAME A STATE, AND ARE FULLY INCORPORATED INTO THE DOWNTOWN AREA.

Program Service Accomplishments

Program 1

Expenses: $170,780

PROMOTION OF FARMERS MARKET IN DOWNTOWN MONTEREY. CONSULTATION WITH NEARBY PROMOTION DISTRICTS SUCH AS NEW MONTEREY AREA.

Program 2

SPECIAL EVENT PROMOTIONS - OMBA SPONSORS AND/OR FACILITATES FESTIVALS AND OTHER EVENTS WHICH ATTRACTS VISITORS AND BRINGS RESIDENTS DOWNTOWN. THESE INCLUDE A FOURTH OF JULY PARADE, MAIN STREET CAR...

SPECIAL EVENT PROMOTIONS - OMBA SPONSORS AND/OR FACILITATES FESTIVALS AND OTHER EVENTS WHICH ATTRACTS VISITORS AND BRINGS RESIDENTS DOWNTOWN. THESE INCLUDE A FOURTH OF JULY PARADE, MAIN STREET CAR SHOWS, 50 FARMERS' MARKETS EACH YEAR, OPEN AIR ART SHOWS, MUSIC FESTIVALS AND OTHER EVENTS WHICH ARE DESIGNED TO ATTRACT VISITORS AND RESIDENTS.

Program 3

Expenses: $19,911

MEDIA ADVERTISING - OLD MONTEREY BUSINESS ASSOCIATION OMBA PROMOTES THE DOWNTOWN AREA OF MONTEREY THROUGH RADIO, TELEVISION AND PRINT MEDIA. OMBA ALSO SUPPORTS THE VISITOR'S BUREAU AND LOCAL CHAMBER...

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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 $131,268

Program Service Revenue $224,319

Investment Income $0

Other Revenue $0

TOTAL REVENUE $355,587

Expense Breakdown

Grants Paid $0

Salaries & Benefits $169,127

Fundraising Expenses $0

Program Expenses $165,426

Other Expenses $137,901

TOTAL EXPENSES $307,028

Year-over-Year Comparison

	2023	2022	Change
Revenue	$355,587	$397,157	-0.1%
Expenses	$307,028	$330,421	-0.1%
Net Income	$48,559	$66,736	-0.3%

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

$77,292

Total Directors