Valley Cultural Center
- Assets
- $396.8k
- Revenue
- $475.6k
- Investments
- $0.0
- Employees
- 9
- Location
- Woodland Hills, CA
- Founding
- 12/1975
- Data as of
- 12/2021
- EIN
- 51-0172702
Organization Overview
Valley Cultural Center is located in Woodland Hills, CA. The organization was established in 1975. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Valley Cultural Center employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Cultural Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Valley Cultural Center generated $475.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $598.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
VALLEY CULTURAL CENTER PROVIDES DIVERSE PROGRAMS AND EVENTS IN THE ARTS THAT BRING TOGETHER TALENT, COMMUNITY AND BUSINESS THROUGHOUT THE SAN FERNANDO VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER CONCERT SERIES, JULY 4TH FIREWORKS AND MOVIES IN THE PARK FREE TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nora Ross Executive Dir. | Officer | 40 | $85,500 |
Les Sumpter Vice Chairman | OfficerTrustee | 2 | $0 |
Frank Daftari Secretary | OfficerTrustee | 2 | $0 |
Gina Escow Guarino Chairman | OfficerTrustee | 3 | $0 |
Hamed Khorsand CFO | OfficerTrustee | 2 | $0 |
Joe Andrews Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $171,066 |
| All other contributions, gifts, grants, and similar amounts not included above | $226,429 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $397,495 |
| Total Program Service Revenue | $72,271 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $164 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,598 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $85,500 |
| Compensation of current officers, directors, key employees. | $8,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,609 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,248 |
| Payroll taxes | $11,576 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,062 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,966 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,866 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,194 |
| Insurance | $10,706 |
| All other expenses | $188,187 |
| Total functional expenses | $598,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,965 |
| Savings and temporary cash investments | $222,453 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $128,359 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $396,763 |
| Accounts payable and accrued expenses | $89,295 |
| Grants payable | $0 |
| Deferred revenue | $22,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $420,456 |
| Total liabilities | $531,751 |
| Net assets without donor restrictions | -$274,744 |
| Net assets with donor restrictions | $139,756 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $396,763 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Valley Cultural Center has recieved totaling $25,005.
| Awarding Organization | Amount |
|---|---|
Hollywood Foreign Press Association West Hollywood, CA PURPOSE: GENERAL SUPPORT | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Musicares Foundation Inc Santa Monica, CA | $28,828,154 | $32,357,649 |
San Francisco Jazz Organization San Francisco, CA | $64,965,614 | $11,913,007 |
Music Concourse Community Partnership San Francisco, CA | $31,271,076 | $4,428,131 |
Berkeley Music Group Berkeley, CA | $6,181,022 | $4,579,247 |
Kronos Performing Arts Assn San Francisco, CA | $1,591,460 | $2,774,082 |
Monterey Jazz Festival Monterey, CA | $3,593,346 | $4,129,138 |
Mosier Community School Foundation Inc Mosier, OR | $3,936,713 | $2,235,279 |
Carmel Bach Festival Inc Carmel, CA | $1,675,160 | $2,099,477 |
Camerata Pacifica Santa Barbara, CA | $1,526,106 | $1,221,933 |
American Bach Soloists San Francisco, CA | $908,845 | $1,282,181 |
Music For Minors Inc San Carlos, CA | $710,130 | $1,519,051 |
New West Symphony Association Thousand Oaks, CA | $774,216 | $1,642,962 |