CARLSBAD MAINSTREET PROJECT

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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

1996

Legal Domicile

Principal Officer

SUSAN CROCKETT

Phone

5756283768

Tax Period

2023-01-01 to 2023-12-31

CARLSBAD MAINSTREET PROJECT, founded in 1996, is a small nonprofit in the Environment sector that reported $289K in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring.

Mission

TO STRENGTHEN THE MAINSTREET DISTRICT AS THE CENTER OF OUR COMMUNITY THROUGH CONCENTRATED EFFORTS IN ORGANIZATION, PROMOTION, DESIGN, AND ECONOMIC RESTRUCTURING.

Program Service Accomplishments

Program 1

Expenses: $174,075 Revenue: $254,753

PROMOTION, REVITALIZATION AND PRESERVATION OF DOWNTOWN CARLSBAD, NEW MEXICO INCLUDING STREETSCAPE ENHANCEMENTS, MURALS, CHRISTMAS LIGHTS, ETC.

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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 $25,526

Program Service Revenue $254,753

Investment Income $0

Other Revenue $8,256

TOTAL REVENUE $288,535

Expense Breakdown

Grants Paid $0

Salaries & Benefits $105,649

Fundraising Expenses $0

Program Expenses $174,075

Other Expenses $194,151

TOTAL EXPENSES $299,800

Year-over-Year Comparison

	2023	2022	Change
Revenue	$288,535	$375,938	-0.2%
Expenses	$299,800	$320,700	-0.1%
Net Income	$-11,265	$55,238	-1.2%

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

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

$57,750

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN CROCKETT	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAMIAN CAPELLO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MARY GARWOOD	SECRETARY	1.00	Officer Director	$0	$0	$0
ASHLEY SWITZER	TREASURER	1.00	Officer Director	$0	$0	$0
JASON SHIRLEY	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
MIKE HERNANDEZ	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
LAWANDA SCHOLL	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
DANELLE MORILL	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
JOHNNY ANGELIS	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
JEFF FORREST	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
CATHIE HEAD	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
GARY PERKOWSKI	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
CALEB CUNNINGHAM	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
EKTA BHAKTA	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
DALE JANWAY	EX-OFFICIO	1.00	Director	$0	$0	$0
JOHN LOWE	EX-OFFICIO	1.00	Director	$0	$0	$0
TED CORDOVA	EX-OFFICIO	1.00	Director	$0	$0	$0
SARAH CORDOVA	EX-OFFICIO	1.00	Director	$0	$0	$0
TRENT MOORE	EX-OFFICIO	1.00	Director	$0	$0	$0
KATHLEEN DAVIS	EXECUTIVE DIRECTOR	40.00	Officer	$57,750	$0	$57,750

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	$288,535	$299,800	$299,002	$-11,265
2022	$375,938	$320,700	$315,846	$55,238
2021	$276,566	$180,039	$254,336	$96,527
2020	$237,666	$269,764	$156,816	$-32,098
2019	$188,832	$163,788	$189,703	$25,044
2018	$247,230	$180,484	$164,858	$66,746