Los Angeles Memorial Coliseum Foundation

Nonprofit profile at a glance

EIN
843130910
IRS 990 coverage
2020–2023
Forms available
Form 990 2023, Form 990-N 2019
Location
Los Angeles, CA, USA
Phone
2139748321
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$9,052
Expenses
$100,376
Assets
$225,438
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • SOLOMON RIVERA (President)
  • CURREN D PRICE JR (Vice President)

People named in this filing

  • SOLOMON RIVERA (President)
  • CURREN D PRICE JR (Vice President)
  • GEORGE L PLA (Treasurer)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To preserve and promote the los angeles memorial coliseum (lamc)by engaging the public, exposition park stakeholders, civic leaders, and others to ensure its historic legacy for future generations. To encourage public participation at the lamc by hosting to the greatest extent possible, an array of on-site public interest events year-round which are open and free to the public for purposes of education and enjoyment. To preserve and publicly display the historical artifacts and memorabilia of the lamc and sports arena properties detailing the history of these iconic facilities. To provide support to the coliseum commission including financial assistance for the continued administration and operational expenses of the commisssion.

What it reported doing in 2023

To provide financial support for the maintenance and preservation of the los angeles memorial coliseum (a national and state historical landmark), and other facilities and public areas of exposition park in the city of los angeles. Also for the benefit, development, and improvement of the neighborhood and communities in the vicinity of exposition park.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1,008.9%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 2.25; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 1.1% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -88.9% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -38.8% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $100K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 to 2023
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.