Laguna Art Museum

Nonprofit profile at a glance

EIN
330717157
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Laguna Beach, CA, USA
Phone
9494948971
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Reported finances

Revenue
$3,627,659
Expenses
$3,674,748
Assets
$7,649,131
Liabilities
$492,634

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • JULIE PERLIN LEE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JULIE PERLIN LEE (EXECUTIVE DIRECTOR): $212,337 total reported compensation
  • VICTORIA ZARAGINO GERARD (DEPUTY DIRECTOR): $105,924 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The museum's primary exempt purpose is to promote the understanding of the role of art and artists in americn culture through collect, exhibition, research, and instruction. The focus of the organization collection is on the art of California and related works from the 19th, 20th and 21st centuries.

What it reported doing in 2024

Education is at the heart of laguna art museum's mission to enlighten and engage people of all ages. Through school partnerships, free youth admission, family workshops and the dedication of trained museum educators and docents, the museum fosters curiosity, creativity and lifelong learning rooted in California art and ideas.collaborating directly with California artists and artwork collectors, the museum presents exhibitions and programs that reflect the region's unique history, diversity and innovation for the purpose of advancing the understanding of how artists have shaped the cultural life of our region and state from the 19th century to the present.the museum's landmark art + nature initiative places artwork outdoors that unites art, science and environmental awareness, drawing national attention for projects that inspire connection to the landscape and creativity that defines California.

Operating model

Revenue model
Donor-supported. 75% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 70
  • Accountability: 97
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.8%; rating input score 60
  • Program expense ratio: 56.7%; rating input score 57
  • Fundraising efficiency: $17.02 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.2%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.3%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 2.08; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 59.8% of revenue deployed · 56.7% of spending went to programs
  • Governance: 20 of 21 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $212K · 25 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.