LOBERO THEATRE FOUNDATION

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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

1938

Legal Domicile

Principal Officer

CHARLES DE L'ARBE

Phone

8059664946

Tax Period

2024-06-01 to 2025-05-31

LOBERO THEATRE FOUNDATION, founded in 1938, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.1M in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. Net assets of $13.9M represent 33 months of operating reserves.

Mission

THE MISSION OF THE LOBERO THEATRE FOUNDATION IS TO MAINTAIN AND OPERATE THE HISTORIC LOBERO THEATRE AS A PERFORMING ARTS CENTER AND CULTURAL ASSET TO THE COMMUNITY, AND TO PRESENT THE HIGHEST QUALITY PRODUCTIONS IN MUSIC, DANCE AND THEATER.

Program Service Accomplishments

Program 1

Expenses: $3,866,664 Revenue: $2,618,501

OUR COMMUNITY ACCESS FUND (CAF) SUBSIDIZES THE COST OF PERFORMING ON THE LOBERO STAGE FOR NEARLY ALL LOCAL ARTS ORGANIZATIONS, WITH SPECIAL FOCUS ON GROUPS FEATURING YOUTH PERFORMERS OR SERVING YOUTH AUDIENCES. CAF RECIPIENTS INCLUDE OPERA SANTA BARBARA, STATE STREET BALLET, SB YOUTH SYMPHONY, FLAMENCO ARTS FESTIVAL, COMMUNITY ARTS MUSIC ASSOCIATION, MUSIC ACADEMY OF THE WEST AND MANY MORE.OUR YOUTH & COMMUNITY OUTREACH PROGRAMS SEND PROFESSIONAL JAZZ MUSIC EDUCATORS INTO LOCALS SCHOOLS TO PROVIDE HANDS-ON MUSIC INSTRUCTION TO MORE THAN 300 STUDENTS, AS WELL AS INVITING 2000+ OF STUDENTS AND LOW-INCOME SENIORS INTO THE THEATRE EACH YEAR TO EXPERIENCE MUSIC, DANCE AND MAGIC PERFORMANCES AS AUDIENCE MEMBERS.THE LOBERO LIVE SERIES BRINGS WORLD-CLASS ARTISTS TO SANTA BARBARA AUDIENCES, WITH AN EMPHASIS ON JAZZ, AMERICANA AND OTHER ROOTS MUSIC GENRES. WITH MORE THAN 30 EVENTS PER YEAR, THIS PROGRAM SERVES MORE THAN 15,000 PATRONS IN A VENUE THAT IS BOTH INTIMATE AND WELCOMING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,466,556

Program Service Revenue $2,616,592

Investment Income $42,302

Other Revenue $-25,591

TOTAL REVENUE $5,099,859

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,380,626

Fundraising Expenses $809,640

Program Expenses $3,866,664

Other Expenses $2,665,774

TOTAL EXPENSES $5,057,928

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,099,859	$6,623,998	-0.2%
Expenses	$5,057,928	$4,706,177	+0.1%
Net Income	$41,931	$1,917,821	-1.0%

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

100

Volunteers

180

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

$231,643

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES DE L'ARBE	PRESIDENT	3.00	Officer Director	$0	$0	$0
BRIDGET FOREMAN	TREASURER	3.00	Officer Director	$0	$0	$0
MELISSA FASSETT	SECRETARY	3.00	Officer Director	$0	$0	$0
ROB HAMBLETON	VICE PRESIDENT	2.00	Director	$0	$0	$0
STEVE HAYES	PAST PRESIDENT	2.00	Director	$0	$0	$0
JOHN GERNGROSS	AT LARGE	2.00	Director	$0	$0	$0
SUSAN TORREY	AT LARGE	2.00	Director	$0	$0	$0
TIM CASEY	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN CLOUD	DIRECTOR	2.00	Director	$0	$0	$0
MINDY DENSON	DIRECTOR	2.00	Director	$0	$0	$0
JEFF DEVINE	DIRECTOR	2.00	Director	$0	$0	$0
BRETT HODGES	DIRECTOR	2.00	Director	$0	$0	$0
LAURIE BENTSON KAUTH	DIRECTOR	2.00	Director	$0	$0	$0
LAURIE KIRBY	DIRECTOR	2.00	Director	$0	$0	$0
AMY MACLEOD	DIRECTOR	2.00	Director	$0	$0	$0
JANET MCCANN	DIRECTOR	2.00	Director	$0	$0	$0
DENISE SANFORD	DIRECTOR	2.00	Director	$0	$0	$0
LUIS VILLEGAS	DIRECTOR	2.00	Director	$0	$0	$0
TORBEN VON STADEN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID ANDERSON	DIRECTOR EMERITUS	2.00	Director	$0	$0	$0
MARIANNE PARTIDGE	DIRECTOR	2.00	Director	$0	$0	$0
DAVID ASBELL	EXECUTIVE DIRECTOR	40.00	Officer	$220,141	$11,502	$231,643
MARIANNE CLARK	ADMINISTRATIVE DIRECTOR	40.00	Highest	$133,050	$18,478	$151,528
BRANDON MOWERY	DIRECTOR OF DEVELOPMENT	40.00	Highest	$149,937	$4,615	$154,552
TODD JARED	TECHNICAL DIRECTOR	40.00	Highest	$155,021	$32,349	$187,370
DONALD MCGREEVY	CONTROLLER	40.00	Highest	$108,656	$16,238	$124,894

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
2025	$5,099,859	$5,057,928	$16,758,197	$41,931
2024	$6,623,998	$4,706,177	$16,108,372	$1,917,821
2023	$5,210,201	$4,578,819	$14,117,017	$631,382
2022	$5,213,777	$3,728,091	$11,390,447	$1,485,686
2021	$1,936,068	$2,026,207	$10,231,846	$-90,139
2020	$2,886,699	$3,162,888	$10,004,408	$-276,189
2019	$3,262,757	$3,385,533	$9,716,548	$-122,776
2018	$3,870,408	$3,083,671	$10,059,547	$786,737