Civic Intelligence

The Exhibition District

990 • Fiscal year 2022 • EIN 47-3980272

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 06, 2023

PO Box 150San Jose, CA 95103

(760) 646-3281

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.06x

Higher debt load relative to assets than 62% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.04x

Higher debt load relative to revenue than 56% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

67th percentile

17%

Higher net margin than 67% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

78th percentile

$71,694

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

67th percentile

13%

Faster asset growth than 67% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

34th percentile

-3.3%

Faster revenue growth than 34% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$409,428

Up $45,672 (+13%) from 2021

Net Assets

Up

$385,800

Up $71,089 (+23%) from 2021

Liabilities

Down

$23,628

Down $25,417 (-52%) from 2021

Revenue

Down

$653,348

Down $22,408 (-3.3%) from 2021

Expenses

Down

$542,177

Down $18,408 (-3.3%) from 2021

Net Income

Down

$111,171

Down $4,000 (-3.5%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2015: $31,547Liabilities 2015: $1,6562015Assets 2016: $71,658Liabilities 2016: $1,137Net Assets 2016: $70,5212016Assets 2017: $87,977Liabilities 2017: $6,714Net Assets 2017: $81,2632017Assets 2018: $103,759Liabilities 2018: $9,062Net Assets 2018: $94,6972018Assets 2019: $151,326Liabilities 2019: $55,370Net Assets 2019: $95,9562019Assets 2020: $249,709Liabilities 2020: $96,788Net Assets 2020: $152,9212020Assets 2021: $363,756Liabilities 2021: $49,045Net Assets 2021: $314,7112021Assets 2022: $409,428Liabilities 2022: $23,628Net Assets 2022: $385,8002022Assets 2023: $869,096Liabilities 2023: $117,507Net Assets 2023: $751,5892023Assets 2024: $848,256Liabilities 2024: $47,361Net Assets 2024: $800,8952024

Highlighted filing

2022

Assets$409,428
Liabilities$23,628
Net Assets$385,800

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0Revenue 2015: $48,962Expenses 2015: $19,072Net Income 2015: $29,8902015Revenue 2016: $70,768Expenses 2016: $30,138Net Income 2016: $40,6302016Revenue 2017: $197,880Expenses 2017: $187,138Net Income 2017: $10,7422017Revenue 2018: $314,377Expenses 2018: $300,943Net Income 2018: $13,4342018Revenue 2019: $399,082Expenses 2019: $397,823Net Income 2019: $1,2592019Revenue 2020: $544,490Expenses 2020: $487,525Net Income 2020: $56,9652020Revenue 2021: $675,756Expenses 2021: $560,585Net Income 2021: $115,1712021Revenue 2022: $653,348Expenses 2022: $542,177Net Income 2022: $111,1712022Revenue 2023: $1,369,194Expenses 2023: $641,142Net Income 2023: $728,0522023Revenue 2024: $1,456,299Expenses 2024: $1,396,296Net Income 2024: $60,0032024

Highlighted filing

2022

Revenue$653,348
Expenses$542,177
Net Income$111,171
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 6, 2023
Return Version
2022v5.0
Gross Receipts
$653,498
Mission and Program Overview

Mission

To create economic opportunities for artists at the intersection of public art and community development.

Local Colors Mission is to build equitable opportunities to keep emerging and established artists active, employed, and engaged in San Jose by facilitating public art, affordable artist studios, and fiscal sponsorship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$300,012$390,430▲ $90,418
Accounts Receivable$50,137$12,439▼ $37,698
Prepaid Expenses and Deferred Charges$7,154$6,558▼ $596
Savings and Temporary Cash Investments$5,943--
Land, Buildings, and Equipment, Net$510--
Total Assets$363,756$409,428▲ $45,672
Other Assets Total-$1-
Liabilities
Mortgage Notes Payable Secured by Investment Property$27,347--
Other Liabilities-$14,305-
Accounts Payable and Accrued Expenses$21,698$9,323▼ $12,375
Total Liabilities$49,045$23,628▼ $25,417
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$172,019$283,191▲ $111,172
Net Assets With Donor Restrictions$142,692$102,609▼ $40,083
Total Net Assets Fund Balance$314,711$385,800▲ $71,089
Total Liabilities and Net Assets / Fund Balance$363,756$409,428▲ $45,672

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$4,870$4,870
Other Assets Org$1--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erin SalazarExecutive DirectorFT$65,000$6,694$71,694

Board Members and Trustees

NameTitle
Lisanna DominguezDirector & President
Samantha HullDirector & Vice President
Amanda HillDirector
Amelia AbramsonDirector
Chad JohnstonDirector
Emily LipomaDirector
Ramiro TorresDirector
Omar LealDirector & Secretary
Manny FernandezDirector & Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$461,768
Program Service Revenue
$164,110
Investment Income
$1
Other Revenue
$27,469
All Other Contributions
$340,124
Change in Net Assets
$111,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$330,628
Salaries, Compensation, and Employee Benefits$211,549
Total Fundraising Expense$50,482
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$115,872$14,321-$130,193
Other Salaries and Wages$93,333$7,967$12,520$113,820
Current Officers, Directors, Trustees, and Key Employees$9,750$29,250$26,000$65,000
Occupancy$42,849$4,249$512$47,610
Office Expenses$24,814$14,809$400$40,023
Other Employee Benefits$14,195$1,212$1,904$17,311
Payroll Taxes$9,251$3,084$3,083$15,418
All Other Expenses$11,032$490$169$11,691
Fees for Services Accounting-$10,533-$10,533
Other Expenses$10,141$4,076-$10,141
Advertising$4,231-$5,843$10,074
Insurance-$5,081-$5,081
Conferences and Meetings$2,052--$2,052
Depreciation Depletion-$1,634-$1,634
Travel$103$10$51$164
Total Functional Expenses$394,979$96,716$50,482$542,177
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$27,394
Fundraising Direct Expenses$150
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraiser$27,394$27,394-$27,394
Total Events$27,394$27,394$150$27,244
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll accruals$10,358
Studio deposits$3,947
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

A complete copy of the Form 990 is provided to all members of the Board prior to filing.

Conflict of interest policy compliance Part VI line 12C

The Board and staff are required to confirm compliance with the Conflict of Interest Policy annually, and are required to disclose any potential conflicts of interest as they arise throughout the year.

CEO executive director top management comp Part VI line 15A

The President and the Executive Committee reviewed the Executive Director salaries of financially comparably-sized nonprofits to determine a range. The President and the Executive Committee also used the 2021 Norcal ED Compensation Survey as a reference guideline.

Governing documents etc available to public Part VI line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Local Color
EIN
47-3980272
Address
PO Box 150, San Jose, CA 95103

Signing Officer

Name
Erin Salazar
Title
Executive Direc
Phone
7606463281
Signed
2023-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erin Salazar
Formed
2015
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
8
Employees
4
Volunteers
35

Preparer

Firm
Build Advisory Corporation
Address
PO Box 61, Newbury Park, CA 91319
Preparer
Mark Hancock CRTP
Phone
4159523695
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Donated services and use of facilities expense, 704,822

List of other fees for services expenses Part IX line 11G

Program consultants, $124,393Fundraising consultant, $5,800

Part III response or note to any other line in Part III

Continued from Part III, Line 4b:Artists-In-Residence Provides affordable workspaces for creatives, organizers, and groups. In 2016, Local Color began transforming vacant buildings slated for demolition into affordable artists studios. To date, Local Color has opened over 69,000 square feet of creative space, and currently, two locations totaling 23,000 square feet are active. Throughout the Pandemic, we provided $100,000 in discounts to retain 86% of our membership. This prototyping has yielded the first long-term lease in partnership with an affordable housing development opening in 2023.Youth Empowerment Series (YES) provides Custom-designed, arts-based programs built to empower next-generation creative advocates. YES includes custom-designed, arts-based programs built to empower next-generation leaders in creative fields. From how-tos for curating community murals to developing artistic skills and collaborative leadership the creative engagements provide outlets for improving mental health, self-expression, and art activism

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IRS990/ProgSrvcAccomActy2Grp/Desc0Local Commons fosters sustainability for local artists & organizers by leveraging our 501(c)(3) status to expand access to grant funding and other resources for self-directed creative projects. Launched in 2020, Local Commons fosters sustainability for local artists, organizers, and collectives by providing comprehensive fiscal sponsorship. Local Commons expands access to otherwise restricted funding resources to South Bay Area organizers fundraising efforts for community-centric creative projects. Local Commons support grant research, funds management, and to date has redistributed $105,000 to a majority of BIPOC organizers. Please see Schedule O, Note .07 for a description of additional program services.
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