LA QUINTA ARTS 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

1982

Legal Domicile

Principal Officer

FRANK J DELANY

Phone

7607798727

Tax Period

2021-07-01 to 2022-06-30

LA QUINTA ARTS FOUNDATION, founded in 1982, is a small nonprofit in the Arts, Culture & Humanities sector that reported $227K in total revenue in fiscal year 2021. Revenue fell 54% from the prior year — a significant decline worth monitoring. Expenses of $564K exceeded revenue, resulting in a 148% operating deficit.

Mission

PROMOTING AND CULTIVATING THE ARTS, FORMING MEANINGFUL PARTNERSHIPS WITHIN THE COMMUNITY, PROVIDING CULTURAL EDUCATION, AND PERSONAL GROWTH OUTREACH TO THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $161,366

CALIFORNIA DESERT ARTS COUNCIL: LQAF FORMED CALIFORNIA DESERT ARTS COUNCIL TO BE THE UNIFYING VOICE FOR ARTS AND CULTURE FOR THE CALIFORNIA DESERT REGION. CDAC WILL UNIFY, EMPOWER AND PROMOTE THE...

CALIFORNIA DESERT ARTS COUNCIL: LQAF FORMED CALIFORNIA DESERT ARTS COUNCIL TO BE THE UNIFYING VOICE FOR ARTS AND CULTURE FOR THE CALIFORNIA DESERT REGION. CDAC WILL UNIFY, EMPOWER AND PROMOTE THE ARTS IN THE CALIFORNIA DESERT. CDAC INITIATIVES ARE CULTURAL TOURISM, PROFESSION DEVELOPMENT, EDUCATION AND ADVOCACY. PY EXPENSES WERE 100,000.

Program 2

Expenses: $5,316

OUTREACH PROGRAMS: SCHOLARSHIPS - LQAF VISUAL ARTS SCHOLARSHIP PROGRAM HAS AWARDED A TOTAL OF 1,377,316 TO STUDENTS PURSUING COLLEGE DEGREES IN VISUAL ARTS SINCE IT'S INCEPTION IN 1982. THE TOTAL...

OUTREACH PROGRAMS: SCHOLARSHIPS - LQAF VISUAL ARTS SCHOLARSHIP PROGRAM HAS AWARDED A TOTAL OF 1,377,316 TO STUDENTS PURSUING COLLEGE DEGREES IN VISUAL ARTS SINCE IT'S INCEPTION IN 1982. THE TOTAL AMOUNT INCLUDES GRANTED AMOUNT OF 5,316 BY LQAF FOR THE CURRENT YEAR.

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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 (2021)

Revenue Breakdown

Contributions & Grants $180

Program Service Revenue $0

Investment Income $225,063

Other Revenue $1,584

TOTAL REVENUE $226,827

Expense Breakdown

Grants Paid $5,316

Salaries & Benefits $197,961

Fundraising Expenses $35

Program Expenses $166,682

Other Expenses $360,327

TOTAL EXPENSES $563,604

Year-over-Year Comparison

	2021	2020	Change
Revenue	$226,827	$494,742	-0.5%
Expenses	$563,604	$544,432	+0.0%
Net Income	$-336,777	$-49,690	+5.8%

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

$377,350

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTI SALAMONE	CEO(RETIRED	40.00	Officer	$351,350	$26,000	$377,350
FRANK J DELANY	CHAIR OF BOA	15.00	Officer	$0	$0	$0
PHILLIP WALLER	TREASURER	4.00	Officer	$0	$0	$0
JEFF STAHL	SECRETARY	4.00	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
2022	$226,827	$563,604	$7,914,624	$-336,777
2021	$494,742	$544,432	$9,941,474	$-49,690
2020	$290,555	$388,910	$8,656,809	$-98,355
2019	$1,865,863	$1,071,552	$9,132,291	$794,311