PUBLIC CORP FOR THE ARTS OF THE CI… - Form 990 Financial Data

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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

1976

Legal Domicile

Principal Officer

GRISELDA SUAREZ

Phone

5624352787

Tax Period

2023-10-01 to 2024-09-30

PUBLIC CORP FOR THE ARTS OF THE CITY OF LONG BEACH, founded in 1976, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.3M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $4.7M exceeded revenue, resulting in a 42% operating deficit.

Mission

THE ARTS COUNCIL FOR LONG BEACH CULTIVATES THE PHYSICAL, SOCIAL AND ECONOMIC CHARACTERISTICS OF LONG BEACH NEIGHBORHOODS BY NURTURING AND ENLIVENING THE ARTS. WE SERVE INDIVIDUALS, GROUPS, AND ORGANIZATIONS THROUGH ADVOCACY, ARTS EDUCATION PUBLIC ART, AND GRANT MAKING WITHIN THE CITY OF LONG BEACH. WE PRACTICE PROFOUND INCLUSION AS A COLLABORATOR AND CONVENER FOR THE BENEFIT OF ALL COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $3,702,755

GRANTS DEPARTMENT AWARDS EXCELLENCE IN THE ARTS THROUGH OUR ANNUAL AND MONTHLY GRANT PROGRAMS.

Program 2

Expenses: $296,578

PUBLIC ART DEPARTMENT TRANSFORMS THE CITY OF LONG BEACH THROUGH PUBLIC ART INSTALLATIONS.

Program 3

Expenses: $247,413 Revenue: $18,466

ARTS LEARNING IMPLEMENTS OUTSTANDING ARTS EDUCATION PROGRAMS: EYE ON DESIGN, JUMPSTART, GO MAKE SOMETHING.

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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 $3,300,314

Program Service Revenue $18,466

Investment Income $15,690

Other Revenue $-49,645

TOTAL REVENUE $3,284,825

Expense Breakdown

Grants Paid $2,904,729

Salaries & Benefits $963,155

Fundraising Expenses $42,299

Program Expenses $4,246,746

Other Expenses $780,350

TOTAL EXPENSES $4,679,467

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,284,825	$2,703,019	+0.2%
Expenses	$4,679,467	$6,312,543	-0.3%
Net Income	$-1,394,642	$-3,609,524	-0.6%

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

$107,607

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG JOHNSON	PRESIDENT	1.00	Officer Director	$0	$0	$0
ANNE LATTIME	VICE-PRESIDENT	1.00	Officer Director	$0	$0	$0
MARC DAVIDSON	SECRETARY	1.00	Officer Director	$0	$0	$0
CRISTINA ESPIRITU	TREASURER	1.00	Officer Director	$0	$0	$0
DANIEL ALVARADO	BOARD MEMBER	1.00	Director	$0	$0	$0
ELAINE BERNAL	BOARD MEMBER	1.00	Director	$0	$0	$0
VIOLET BROWN	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNIFER DROLET	BOARD MEMBER	1.00	Director	$0	$0	$0
TASHA HUNTER	BOARD MEMBER	1.00	Director	$0	$0	$0
JAYRO SANDOVAL	BOARD MEMBER	1.00	Director	$0	$0	$0
SAYON SYPRASOEUTH	BOARD MEMBER	1.00	Director	$0	$0	$0
JON BOYDEN	BOARD MEMBER	1.00	Director	$0	$0	$0
KAREN BRYNES	BOARD MEMBER	1.00	Director	$0	$0	$0
AMANDA FRUTA	BOARD MEMBER	1.00	Director	$0	$0	$0
CHAD MICHAEL HALL	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL KENNEDY	BOARD MEMBER	1.00	Director	$0	$0	$0
MAUREEN MCGLYNN	BOARD MEMBER	1.00	Director	$0	$0	$0
LIZ MUNZON	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES NASH	BOARD MEMBER (UNTIL 11/01/23)	1.00	Director	$0	$0	$0
GRISELDA SUAREZ	EXECUTIVE DIRECTOR	45.00	Officer	$104,283	$3,324	$107,607

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	$3,284,825	$4,679,467	$1,688,299	$-1,394,642
2023	$2,703,019	$6,312,543	$4,155,432	$-3,609,524
2022	$6,895,518	$2,067,608	$6,286,863	$4,827,910
2021	$3,278,156	$2,945,664	$1,457,547	$332,492
2020	$1,166,856	$991,658	$1,139,470	$175,198
2019	$1,316,909	$1,016,688	$864,217	$300,221
2018	$938,178	$855,364	$561,892	$82,814

PUBLIC CORP FOR THE ARTS OF THE CITY OF LONG BEACH