OLD MONTEREY BUSINESS ASSOCIATION (EIN 770097315) - Form 990 Financial Analysis & Trantor Score

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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.

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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

$77,292

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER COFRESI	EXECUTIVE DI	40.00	Officer Director	$77,292	$0	$77,292
JERRY ANDERSON	TRUSTEE	N/A	Director	$0	$0	$0
BARBARA BURKE	SECRETARY	N/A	Officer Director	$0	$0	$0
LAUREN COHEN	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
JOHN CULCASI	TRUSTEE	N/A	Director	$0	$0	$0
SAHIN GUNSEL	TRUSTEE	N/A	Director	$0	$0	$0
CAROLYN B HARRIS	TRUSTEE	N/A	Director	$0	$0	$0
RYAN LAMA	TRUSTEE	N/A	Director	$0	$0	$0
RYAN MCCORMICK	TRUSTEE	N/A	Director	$0	$0	$0
ZANE MORTENSEN	TRUSTEE	N/A	Director	$0	$0	$0
MICHELE PEARCE	PRESIDENT	N/A	Officer Director	$0	$0	$0
BRITTANI REID-BRISTOL	TRUSTEE	N/A	Director	$0	$0	$0
LISANNE SAWHNEY	TRUSTEE	N/A	Director	$0	$0	$0
ED SMITH	TRUSTEE	N/A	Director	$0	$0	$0
MELISSA THEONY	TRUSTEE	N/A	Director	$0	$0	$0
FRANCO VASQUEZ	TRUSTEE	N/A	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	No data	No data	No data	No data
2023	$355,587	$307,028	$327,514	$48,559
2022	$397,157	$330,421	$286,562	$66,736
2021	$321,765	$245,174	$219,846	$76,591
2020	$311,333	$244,210	$142,669	$67,123
2019	$397,214	$393,471	$78,551	$3,743
2018	$415,938	$373,229	$72,306	$42,709

OLD MONTEREY BUSINESS ASSOCIATION