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Nonprofiteer
← FORTY-NINER SHOPS INC

Form 990 for tax year 2022

Filed by FORTY-NINER SHOPS INC.

Totals

Total revenue
$19,384,295
Total expenses
$18,222,175
Contributions and grants received
$75,160
Grants paid
$112,097
Program service revenue
$1,931,699
Investment income
$90,302
Other revenue
$17,287,134
Total assets, end of year
$23,862,338
Total liabilities, end of year
$10,996,045
Net assets or fund balances, end of year
$12,866,293
Program services expenses (Part IX)
$15,153,210
Management and general expenses
$3,068,965
Fundraising expenses
$0
Program service expenses (Part III)
$15,153,210

Program services were 83.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $75,160

  • 1g · Noncash contributions included above

    $75,160

  • 2a · Program service revenue: ENTERPRISE REVENUE

    total $1,931,699 · related or exempt $1,931,699

  • 3 · Investment income

    total $375,285 · excluded $375,285

  • 7a · Gross sales of assets other than inventory

    securities $2,987,940

  • 7b · Less cost or other basis and sales expenses

    securities $3,270,653 · other assets $2,270

  • 7c · Gain or loss

    securities -$282,713 · other assets -$2,270

  • 7d · Net gain or loss

    total -$284,983 · excluded -$284,983

  • 10a · Gross sales of inventory

    $29,468,652

  • 10b · Cost of goods sold

    $12,241,520

  • 10c · Net income from sales of inventory

    total $17,227,132 · related or exempt $17,366,336 · unrelated business -$139,204

  • 11a · Other revenue: OTHER CORPORATE INCOME

    total $60,002 · excluded $60,002

  • 11e · Other revenue, total

    $60,002

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $112,097 · program services $112,097

  • 5 · Compensation of officers, directors and key employees

    total $204,278 · management and general $204,278

  • 7 · Other salaries and wages

    total $8,659,817 · program services $7,353,101 · management and general $1,306,716

  • 9 · Other employee benefits

    total $2,555,632 · program services $1,976,159 · management and general $579,473

  • 10 · Payroll taxes

    total $492,901 · program services $381,139 · management and general $111,762

  • 11b · Fees: legal

    total $6,069 · management and general $6,069

  • 11f · Fees: investment management

    total $32,390 · management and general $32,390

  • 11g · Fees: other

    total $552,132 · program services $405,003 · management and general $147,129

  • 12 · Advertising and promotion

    total $45,081 · program services $27,150 · management and general $17,931

  • 16 · Occupancy

    total $493,978 · program services $493,978

  • 17 · Travel

    total $17,488 · program services $10,532 · management and general $6,956

  • 19 · Conferences, conventions and meetings

    total $33,501 · program services $20,176 · management and general $13,325

  • 20 · Interest

    total $125,443 · program services $125,443

  • 22 · Depreciation, depletion and amortization

    total $733,218 · program services $711,802 · management and general $21,416

  • 23 · Insurance

    total $205,520 · program services $197,028 · management and general $8,492

  • 24a · Other expenses: RESIDENT HALL COMMISSIO

    total $1,070,392 · program services $1,070,392 · management and general $0 · fundraising $0

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $1,047,289 · program services $719,229 · management and general $328,060 · fundraising $0

  • 24c · Other expenses: SUPPLIES

    total $823,677 · program services $685,844 · management and general $137,833 · fundraising $0

  • 24d · Other expenses: OTHER SERVICES EXPENSES

    total $498,652 · program services $479,214 · management and general $19,438 · fundraising $0

  • 24e · All other expenses

    total $512,620 · program services $384,923 · management and general $127,697

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,911,810 · end of year $2,416,744

  • 2 · Savings and temporary cash investments

    beginning of year $3,051,120 · end of year $3,246,419

  • 4 · Accounts receivable

    beginning of year $1,738,205 · end of year $1,093,219

  • 8 · Inventories for sale or use

    beginning of year $1,073,158 · end of year $1,163,033

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,897 · end of year $14,998

  • 10a · Land, buildings and equipment: cost or other basis

    $25,001,194

  • 10b · Land, buildings and equipment: accumulated depreciation

    $20,199,606

  • 10c · Land, buildings and equipment, net

    beginning of year $5,399,106 · end of year $4,801,588

  • 11 · Investments: publicly traded securities

    beginning of year $7,521,495 · end of year $8,922,823

  • 12 · Investments: other securities

    beginning of year $1,118,530 · end of year $733,314

  • 15 · Other assets

    beginning of year $1,067,851 · end of year $1,470,200

  • 17 · Accounts payable and accrued expenses

    beginning of year $516,448 · end of year $1,898,853

  • 23 · Secured mortgages and notes payable

    beginning of year $2,944,722 · end of year $3,144,022

  • 25 · Other liabilities

    beginning of year $2,611,690 · end of year $5,953,170

  • 27 · Net assets without donor restrictions

    beginning of year $16,827,312 · end of year $12,866,293

Mission and programs · 2022

Mission

BEACH SHOPS' MISSION IS TO ENHANCE AND SUPPORT THE EDUCATIONAL PROCESS OF CALIFORNIA STATE UNIVERSITY, LONG BEACH BY PROVIDING THE GOODS AND SERVICES TO PROMOTE A LEARNING COMMUNITY; BY TRAINING STUDENT EMPLOYEES WITH LIFE AND CAREER SKILLS; AND BY FUNDING SCHOLARSHIPS, INTERNSHIPS AND OTHER PROGRAMS THAT PROMOTE STUDENT SUCCESS.

Activities or mission (Part I)

TO ENHANCE AND SUPPORT THE EDUCATIONAL PROCESS OF CALIFORNIA STATE UNIVERSITY, LONG BEACH.

  • RESIDENTIAL DINING: BEACH SHOPS OPERATES TWO ON-CAMPUS RESIDENTIAL DINING HALLS, PARKSIDE & HILLSIDE, AND ONE OFF-CAMPUS BEACHSIDE DINING HALL LOCATED JUST A FEW MILES FROM CSULB. EACH FACILITY HAS SIMILAR MENUS THAT ARE BASED ON A 5-WEEK CYCLE AND ARE COMPLIMENTED WITH AN "ALL-YOU-CARE-TO-EAT" HOT-FOOD BAR, DELI AND SALAD BAR, FRESH FRUIT, SOUPS, AND DESSERTS.

    Expenses $6,269,914 · Grants $76,321 · Revenue $5,534,847

  • UNIVERSITY BOOKSTORE: WHERE STUDENTS CAN PURCHASE SCHOOL SUPPLIES, LOGO APPAREL, COMPUTERS, COURSE SUPPLIES AND TEXTBOOKS. ART STORE- WHERE STUDENTS CAN FIND EVERYTHING THEY NEED FOR ACADEMIC ART PROJECTS INCLUDING: PHOTOGRAPHY, PAINTING, DRAWING, CERAMICS, PRINT MAKING, AND GENERAL BOOKS.

    Expenses $4,276,016 · Grants $10,635 · Revenue $10,875,140

  • RETAIL DINING: RETAIL RESTAURANTS ON CAMPUS THAT PROVIDE A WIDE VARIETY OF CUISINES AND BEVERAGE CHOICES INCLUDING: THE NUGGET GRILL & PUB, OUTPOST GRILL, & CAFFEINE LAB.

    Expenses $3,279,771 · Revenue $2,888,048

  • CONVENIENCE STORES: THE SHOPS OPERATE 4 CONVENIENCE STORES THAT ARE LOCATED THROUGHOUT THE CAMPUS. THE CONVENIENCE STORES OFFER GRAB'N'GO SANDWICHES, SOUPS, SNACKS, BEVERAGES, OVER THE COUNTER MEDICATION, AND BASIC SCHOOL SUPPLIES. THEY ARE LOCATED AT THE UNIVERSITY STUDENT UNION, BEACH HUT, BOOKSTORE, AND THE OUTPOST.ID CARD SERVICES: THE SHOPS PROVIDE ID CARD SERVICES TO THE CAMPUS. THIS ID CARD ALSO DOUBLES AS A BEACH CLUB DEBIT CARD. STUDENTS CAN PUT MONEY ON THEIR BEACH CLUB CARD TO USE AT CAMPUS EATERIES, COMPUTER LABS, AND RETAIL LOCATIONS. THE BEACH CARD IS ALSO ACCEPTED BY CERTAIN RETAILERS OFF-CAMPUS.

    Expenses $1,327,509 · Grants $25,141

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Scott Apel

    CHAIR

    Total calculated
    $384,882
    From this org
    $0
    From related orgs
    $270,433
    Other
    $114,449
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,675 related
    Bonus
    $0 + $3,500 related
    Other
    $0 + $258 related
    Deferred
    $0 + $82,675 related
    Nontaxable benefits
    $0 + $31,774 related
    Filer's total
    $0 + $384,882 related

  • Beth Lesen

    VICE CHAIR

    Total calculated
    $374,472
    From this org
    $0
    From related orgs
    $268,060
    Other
    $106,412
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,422 related
    Bonus
    $0 + $3,500 related
    Other
    $0 + $138 related
    Deferred
    $0 + $80,367 related
    Nontaxable benefits
    $0 + $26,045 related
    Filer's total
    $0 + $374,472 related

  • Milton Ordonez

    BOARD MEMBER

    Total calculated
    $285,193
    From this org
    $0
    From related orgs
    $208,261
    Other
    $76,932
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $204,671 related
    Bonus
    $0 + $3,500 related
    Other
    $0 + $90 related
    Deferred
    $0 + $45,323 related
    Nontaxable benefits
    $0 + $31,609 related
    Filer's total
    $0 + $285,193 related

  • Praveen Soni

    BOARD MEMBER

    Total calculated
    $236,589
    From this org
    $0
    From related orgs
    $180,817
    Other
    $55,772
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,417 related
    Bonus
    $0 + $4,400 related
    Other
    $0
    Deferred
    $0 + $43,969 related
    Nontaxable benefits
    $0 + $11,803 related
    Filer's total
    $0 + $236,589 related

  • Wendy Reiboldt

    BOARD MEMBER

    Total calculated
    $243,515
    From this org
    $0
    From related orgs
    $165,305
    Other
    $78,210
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,355 related
    Bonus
    $0 + $3,950 related
    Other
    $0
    Deferred
    $0 + $46,485 related
    Nontaxable benefits
    $0 + $31,725 related
    Filer's total
    $0 + $243,515 related

  • Jeremy Harris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mitali Jain

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Diamond Byrd

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Isaac Julian

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Miles Nevin

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    20

  • Gordon Copley

    CHIEF FINANCIAL OFFICER

    Total calculated
    $96,337
    From this org
    $81,957
    From related orgs
    $0
    Other
    $14,380
    Hours/week
    20

  • Clint Campbell

    ASSOCIATE EXECUTIVE DIRECTOR

    Total calculated
    $193,500
    From this org
    $163,655
    From related orgs
    $0
    Other
    $29,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,217
    Bonus
    $0
    Other
    $2,438
    Deferred
    $10,909
    Nontaxable benefits
    $18,936
    Filer's total
    $193,500

  • Rosa Henderson

    ASSOCIATE EXECUTIVE DIRECTOR

    Total calculated
    $194,782
    From this org
    $164,192
    From related orgs
    $0
    Other
    $30,590
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $163,892
    Bonus
    $0
    Other
    $300
    Deferred
    $11,090
    Nontaxable benefits
    $19,500
    Filer's total
    $194,782

  • Alfredo Macias

    RESIDENTIAL DINING DIRECTOR

    Total calculated
    $159,822
    From this org
    $124,698
    From related orgs
    $0
    Other
    $35,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,456
    Bonus
    $0
    Other
    $242
    Deferred
    $8,340
    Nontaxable benefits
    $26,784
    Filer's total
    $159,822

  • Cynthia Farrington

    BOOKSTORE DIRECTOR

    Total calculated
    $158,371
    From this org
    $130,748
    From related orgs
    $0
    Other
    $27,623
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,926
    Bonus
    $0
    Other
    $1,822
    Deferred
    $8,687
    Nontaxable benefits
    $18,936
    Filer's total
    $158,371

  • Majid Zahedi

    IT MANAGER

    Total calculated
    $132,452
    From this org
    $111,057
    From related orgs
    $0
    Other
    $21,395
    Hours/week
    20

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • CALIFORNIA STATE UNIVERSITY LONG BEACH

    $25,000

    COLLEGE OF BUSINESS FOR A BLOOMBERG COMPUTER LAB.

  • CALIFORNIA STATE UNIVERSITY LONG BEACH

    $0

    DONATED MEALS TO RESIDENCE HALL STAFF.

  • CALIFORNIA STATE UNIVERSITY LONG BEACH

    $0

    DONATED BOOKSTORE ITEMS TO VARIOUS CAMPUS DEPARTMENTS.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CALIFORNIA STATE UNIVERSITY LONG BEACH

    115 · PUBLIC UNIVERSITY · CA

Provenance

Return type
form_990
Tax year
2022
Filed
23 October 2023
IRS schema version
2022v5.0
Source object
202322979349300847

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