MONTALVO 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

1952

Legal Domicile

Principal Officer

ANGELA MCCONNELL

Phone

4089615805

Tax Period

2023-10-01 to 2024-09-30

MONTALVO ASSOCIATION, founded in 1952, is a community nonprofit in the Arts, Culture & Humanities sector that reported $8.2M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $7.4M left a modest 9% surplus.

Mission

MONTALVO ARTS CENTER'S MISSION IS TO ENHANCE ALL PEOPLE'S LIVES THROUGH THE ARTS. MONTALVO CREATES AND PRESENTS WORKS FORM A DIVERSITY OF ART FORMS, NUTURES ARTISTS, AND USES OUR 175-ACRE HISTORIC PROPERTY IN INNOVATIVE WAYS. WE BELIEVE THE ARTS BUILD BRIDGES LOCALLY AND GLOBALLY.

Program Service Accomplishments

Program 1

Expenses: $946,095 Revenue: $59,804

SALLY AND DON LUCAS ARTIST RESIDENCY PROGRAM THE LUCAS ARTISTS PROGRAM OFFERS SELECTED ARTISTS PRIVATE HOUSING IN ONE OF THE 10 DISCIPLINE-SPECIFIC LIVE/WORK STUDIOS, A PROFESSIONAL STAFF THAT IS...

SALLY AND DON LUCAS ARTIST RESIDENCY PROGRAM THE LUCAS ARTISTS PROGRAM OFFERS SELECTED ARTISTS PRIVATE HOUSING IN ONE OF THE 10 DISCIPLINE-SPECIFIC LIVE/WORK STUDIOS, A PROFESSIONAL STAFF THAT IS SUPPORTIVE OF THE CREATIVE PROCESS, AND AN ENVIRONMENT CONDUCIVE TO BOTH INDIVIDUAL PRACTICE AND THE ENERGETIC EXCHANGE OF IDEAS AMONG INTERNATIONAL AND CULTURALLY DIVERSE FELLOWS. THE RESIDENCY PROGRAM HAS EARNED INTERNATIONAL RECOGNITION AS A MODEL OF CURATORIAL PRACTICE, SUPPORTING NEW AND CHALLENGING CONTEMPORARY WORK.

Program 2

Expenses: $2,607,239 Revenue: $1,516,234

HISTORIC VILLA AND EXTANT BUILDINGS ANCHORED BY THE HISTORIC VILLA MONTALVO AND THE LUCAS RESIDENCY PROGRAM COMPOUND OF STUDIOS, THE COMPLEX ALSO INCLUDES NEW AND HISTORIC BUILDINGS ON ITS GROUNDS...

HISTORIC VILLA AND EXTANT BUILDINGS ANCHORED BY THE HISTORIC VILLA MONTALVO AND THE LUCAS RESIDENCY PROGRAM COMPOUND OF STUDIOS, THE COMPLEX ALSO INCLUDES NEW AND HISTORIC BUILDINGS ON ITS GROUNDS. GARDENS AND GROUNDS THE ESTATE'S 175-ACRE GROUNDS INCLUDE THE FORMAL ITALIANATE GARDEN, THE HISTORIC CACTUS GARDEN, THE OVAL GARDEN, THE LOVE TEMPLE, THE BELVEDERE TEMPLE, AND MORE THAN 5 MILES OF HIKING TRAILS. S.

Program 3

Expenses: $857,991 Revenue: $699,744

PERFORMING ARTS SERIES THE LIVELY PERFORMING ARTS PROGRAM CONSISTS OF MORE THAN 45 MUSIC CONCERTS AND THEATRICAL PERFORMANCES PRESENTED IN THE 1200-SEAT GARDEN THEATRE, THE INTIMATE 300-SEAT CARRIAGE HOUSE THEATRE, THE GRAND HALL OF THE VILLA AND THROUGHOUT THE GROUNDS. MONTALVO ALSO PRESENTS STUDENT PERFORMING ARTS PROGRAMS (PASS) IN THE CARRIAGE HOUSE THEATRE THROUGHOUT THE SCHOOL YEAR.AR.

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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 $3,647,420

Program Service Revenue $888,722

Investment Income $2,056,989

Other Revenue $1,594,938

TOTAL REVENUE $8,188,069

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,962,603

Fundraising Expenses $658,166

Program Expenses $5,152,191

Other Expenses $3,459,965

TOTAL EXPENSES $7,422,568

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,188,069	$7,256,022	+0.1%
Expenses	$7,422,568	$7,070,352	+0.0%
Net Income	$765,501	$185,670	+3.1%

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

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

661

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

$323,799

Total Directors

Key Employees

$353,444

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL CONRADO	BOARD PRESIDENT	8.00	Officer Director	$0	$0	$0
BARBARA KILBURN	BOARD TREASURER	4.00	Officer Director	$0	$0	$0
CHRIS GOMO	BOARD SECRETARY	4.00	Officer Director	$0	$0	$0
ROGER SMULLEN	PRESIDENT-ELECT	4.00	Director	$0	$0	$0
ALEJANDRO AGUILAR	TRUSTEE	4.00	Director	$0	$0	$0
BARRY ARIKO	TRUSTEE (LIFETIME)	4.00	Director	$0	$0	$0
MARY CATE BERNAL	TRUSTEE	4.00	Director	$0	$0	$0
JILL CONNER	TRUSTEE	4.00	Director	$0	$0	$0
JEAN ELLIOTT	TRUSTEE	4.00	Director	$0	$0	$0
LAURA ENGDAHL	TRUSTEE	4.00	Director	$0	$0	$0
BARRY FERNALD	TRUSTEE	4.00	Director	$0	$0	$0
SUBODH GUPTA	TRUSTEE	4.00	Director	$0	$0	$0
MARCIA HANSEN	TRUSTEE	4.00	Director	$0	$0	$0
DARIC JACKSON	TRUSTEE	4.00	Director	$0	$0	$0
TOM LARKINS	TRUSTEE	4.00	Director	$0	$0	$0
LUCY LI	TRUSTEE	4.00	Director	$0	$0	$0
SALLY LUCAS	TRUSTEE (LIFETIME)	4.00	Director	$0	$0	$0
JUDY MARCUS	TRUSTEE (LIFETIME)	4.00	Director	$0	$0	$0
SCOTT MCDONALD	TRUSTEE	4.00	Director	$0	$0	$0
RAY MONTALVO	TRUSTEE	4.00	Director	$0	$0	$0
LORENA PEREZ-ROCKWOOD	TRUSTEE	4.00	Director	$0	$0	$0
DAVID SACARELOS	TRUSTEE	4.00	Director	$0	$0	$0
APRIL SAKARA-GILLEY	TRUSTEE	4.00	Director	$0	$0	$0
RON SEGE	TRUSTEE	4.00	Director	$0	$0	$0
SALLY SHI	TRUSTEE	4.00	Director	$0	$0	$0
DARBY SIEMPELKAMP	TRUSTEE	4.00	Director	$0	$0	$0
JEFF SOBRATO	TRUSTEE	4.00	Director	$0	$0	$0
GILBERT VENDRYES	TRUSTEE	4.00	Director	$0	$0	$0
CHARMAINE WARMENHOVEN	TRUSTEE (LIFETIME)	4.00	Director	$0	$0	$0
JOHN WUNDERLING	TRUSTEE	4.00	Director	$0	$0	$0
ANGELA MCCONNELL	EXECUTIVE DIRECTOR	40.00	Officer	$323,799	$0	$323,799
KELLY HUDSON	MANAGING DIRECTOR	40.00	Key Emp	$194,874	$0	$194,874
KELLY SICAT	DIRECTOR, ARTISTS RESIDENCY	40.00	Highest	$149,141	$0	$149,141
LEE ANN PAYNE	CHIEF FINANCIAL OFFICER	40.00	Key Emp	$158,570	$0	$158,570

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	$8,188,069	$7,422,568	$47,680,311	$765,501
2023	$7,256,022	$7,070,352	$43,765,361	$185,670
2022	$17,238,033	$5,687,661	$40,742,049	$11,550,372
2021	$7,481,073	$4,237,775	$34,273,816	$3,243,298
2020	$5,193,349	$4,948,923	$28,381,945	$244,426
2019	$7,605,568	$7,658,916	$28,071,281	$-53,348
2018	$6,486,408	$6,069,492	$28,731,309	$416,916