Navel La Co
- Assets
- $94.2k
- Revenue
- $381.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Los Angeles, CA
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 82-5235150
Organization Overview
Navel La Co is located in Los Angeles, CA. The organization was established in 2019. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Navel LA Co employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Navel LA Co 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 12/2022, Navel LA Co generated $381.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $369.1k during the year ending 12/2022. While expenses have increased by 14.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NAVEL SUPPORTS CULTURAL COMMUNITIES, ORGANIZATIONS, AND INVIDUALS BY PROVIDING PUBLIC ARTS PROGRAMMING, SPACE RESIDENCIES, FACILITIES AND SPACE RENTAL AND SERVICES, EDUCATIONAL PROGRAMS, AND RESEARCH, AND ALL OTHER ACTIVITIES RELATED TO THE ABOVE MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC PROGRAM & EVENTS: OUR PUBLIC PROGRAMMING WAS PRESENTED IN A HYBRID, IN-PERSON AND ONLINE FORMAT, DUE TO THE ONGOING CORONAVIRUS PANDEMIC. WE OFFERED A SERIES OF ONLINE CONVERSATIONS REGARDING CULTURAL WORK BEING DONE BY LOCAL GRASSROOTS ARTIST COLLECTIVES AND ORGANIZATIONS CALLED ASSEMBLIES, WHICH WAS ATTENDED BY OVER 300 PEOPLE AND INVOLVED 12 PARTICIPATING ARTIST-ORGANIZERS FACILITATING COLLABORATIVE LEARNING GROUPS. IN ADDITION TO ASSEMBLIES WE PRODUCED 3 CONCERT EVENTS FEATURING LOCAL QT/BIPOC PERFORMANCE ARTISTS & GROUPS WHICH WERE ATTENDED BY OVER 500 PEOPLE. AS ALWAYS, ALL OF OUR PROGRAMS AND EVENTS ARE LOW-COST OR FREE, AND NO ONE IS TURNED AWAY FOR LACK OF FUNDS.
SPACE FACILITIES & RESIDENCY PROGRAMS:OUR PHYSICAL SPACE WAS SHUT DOWN DUE TO LOCAL COVID PANDEMIC RESTRICTIONS ON AND OFF 2022, FORCING US TO LIMIT THE NUMBER OF SPACE AND FACILITIES RESIDENCIES AND RENTALS WE COULD SUPPORT. WE CONTINUED TO OFFER FREE SPACE AND EQUIPMENT TO OUR NETWORK OF ARTISTS & PARTNER ORGS, PROVIDING 20 ARTISTS AND CULTURAL WORKERS WITH ACCESS TO OUR SPACE AT NO COST, AS WELL AS MENTORSHIP AND SUPPORT FOR THEIR PROJECTS AND PRACTICES. LASTLY, WE PROVIDED FREE OR SLIDING SCALE ACCESS TO OUR SPACE AND FACILITIES TO OVER 30 VALUES-ALIGNED ORGANIZATIONS, COLLECTIVES, AND GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nada Rastad Secretary | Trustee | 5 | $0 |
Irina Contreras Interim Board President | Trustee | 10 | $7,500 |
Randall Sarafa Treasurer | Trustee | 5 | $0 |
Michael Holt Executive Director | Officer | 50 | $66,836 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,968 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $179,526 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,724 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,218 |
| Total Program Service Revenue | $10,678 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $66,157 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $381,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $77,936 |
| Compensation of current officers, directors, key employees. | $23,755 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,179 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,080 |
| Payroll taxes | $11,127 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128,173 |
| Advertising and promotion | $1,787 |
| Office expenses | $15,354 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,055 |
| Travel | $8,323 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,954 |
| Insurance | $6,459 |
| All other expenses | $0 |
| Total functional expenses | $369,050 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,705 |
| Savings and temporary cash investments | $8,050 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,129 |
| 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 | $7,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $94,174 |
| Accounts payable and accrued expenses | $3,574 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $7,540 |
| Secured mortgages and notes payable | $126,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,893 |
| Total liabilities | $143,407 |
| Net assets without donor restrictions | -$49,233 |
| Net assets with donor restrictions | $0 |
| 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 | $94,174 |