Latitude for Art

Nonprofit profile at a glance

EIN
850969009
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Los Angeles, CA, USA
Phone
2134824236
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,126,970
Expenses
$57,901
Assets
$1,075,873
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Martin Cox (Board President)
  • Sati Kaur (Board Vice President)

People named in this filing

  • John Rosewall (Board Member)
  • Douglas Hill (Board Member)
  • Hayley Barker (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Latitude for Art manages artist residencies and long term housing for artists and seniors, benefiting the surrounding neighborhoods with artist exhibitions and presentations. The Organization resources are used to manage, supplement and reduce housing cost for low income artists and seniors.

What it reported doing in 2024

Artist residencies and long term housing for artists and seniors, benefiting the surrounding neighborhoods with artist exhibitions and presentations. The Organization resources are used to manage, supplement and reduce housing cost for low income artists and seniors. On July 1, 2024, Isa-Kae Meksin gifted property to Latitude for Art assessed at $1,050,000. The Organization uses the propertry to provide for housing, manage, supplement and reduce housing costs for low income artists and seniors. One of the units (1028 1/2) is used for a temporary artist residency and office for the organization.

Operating model

Revenue model
Donor-supported. 94% 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 available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 95
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 5.1%; rating input score 5
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 94.9%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 18.58; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 5.1% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $58K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 5/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.