Totals
- Total revenue
- $365,765
- Total expenses
- $488,266
- Contributions and grants received
- $57,500
- Grants paid
- $0
- Program service revenue
- $308,250
- Investment income
- $15
- Other revenue
- $0
- Total assets, end of year
- $123,362
- Total liabilities, end of year
- $249,185
- Net assets or fund balances, end of year
- -$125,823
- Program services expenses (Part IX)
- $366,893
- Management and general expenses
- $121,373
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $366,893
Program services were 75.1% 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.
-
1f · All other contributions, gifts and grants
$57,500
-
2a · Program service revenue: PROGRAM REVENUE
total $152,250 · related or exempt $152,250
-
2b · Program service revenue: SERVICE FEES
total $120,000 · related or exempt $120,000
-
2c · Program service revenue: SPONSORSHIPS
total $36,000 · related or exempt $36,000
-
3 · Investment income
total $15 · excluded $15
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $183,877 · program services $147,102 · management and general $36,775
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $148,024 · program services $118,419 · management and general $29,605
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $15,951 · program services $12,761 · management and general $3,190
-
10 · Payroll taxes
total $23,652 · program services $18,922 · management and general $4,730
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $14,850 · management and general $14,850
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $4,000 · management and general $4,000
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $896 · management and general $896
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $14,832 · program services $11,866 · management and general $2,966
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $2,496 · program services $1,248 · management and general $1,248
-
20 · Interest
total $5,069 · management and general $5,069
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $9,474 · program services $7,579 · management and general $1,895
-
24a · Other expenses: PROGRAM COSTS
total $47,208 · program services $47,208
-
24b · Other expenses: SOFTWARE
total $11,376 · management and general $11,376
-
24c · Other expenses: BAD DEBT
total $2,500 · management and general $2,500
-
24d · Other expenses: TRAVEL MEALS ENTERTAINMENT
total $1,680 · program services $840 · management and general $840
-
24e · All other expenses
total $2,381 · program services $948 · management and general $1,433
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $67,239 · end of year $66,066
-
2 · Savings and temporary cash investments
beginning of year $139,615 · end of year $31,895
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $29,368 · end of year $22,668
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $2,540 · end of year $2,733
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $20,444 · end of year $22,043
-
22 · Loans and payables to officers and key people
beginning of year $200,000 · end of year $200,000
-
25 · Other liabilities
beginning of year $21,640 · end of year $27,142
-
27 · Net assets without donor restrictions
beginning of year -$3,322 · end of year -$125,823
Mission and programs · 2022
Mission
LONG BEACH ACCELERATOR WAS FORMED FOR THE PURPOSE OF PERFORMING ALL THINGS INCIDENTAL TO, OR APPROPRIATE IN, THE ACHIEVEMENT OF THE FOLLOWING SPECIFIC AND PRIMARY MISSION TO ACCELERATE EARLY STATE STARTUPS WITH SEED FUNDING, MENTORSHIP, AND EXIT STRATEGY. THE VISION OF THE LONG BEACH ACCELERATOR IS TO MAKE LONG BEACH A DESTINATION OF CHOICE FOR EARLY STAGE STARTUPS.
-
THE LONG BEACH ACCELERATOR IS A 4-MONTH PROGRAM BROKEN UP INTO TWO PHASES. FOR THE FIRST THREE MONTHS, THERE ARE WEEKLY WORKSHOPS AND MENTORSHIP FOCUSED ON DETERMINING MARKET FIT, BUSINESS STRATEGY AND DEVELOPMENT AND SALES AND MARKETING. THE FINAL MONTH OF THE PROGRAM IS FOCUSED ON DEVELOPING AN EXIT STRATEGY AND PREPARING FOR DEMO DAY TO SECURE ADDITIONAL SEED FUNDING FOR CONTINUED GROWTH AND EXPANSION.
Expenses $366,893 · Revenue $272,250
As filed on the 2022 return.
Listed in Part VII
-
Andrea White-KjossANDREA WHITE-KJOSS
Executive Dir.
- Total calculated
- $183,877
- From this org
- $183,877
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $135,682
- Bonus
- $48,195
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $183,877
-
Wade MartinWADE MARTIN
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Michael MoffattMICHAEL MOFFATT
Vice President
- Total calculated
- $0
- Hours/week
- 2
-
Ragan RobertsonRAGAN ROBERTSON
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Walter LarkinsWALTER LARKINS
Director
- Total calculated
- $0
- Hours/week
- 2
-
Brenda WunschBRENDA WUNSCH
Director
- Total calculated
- $0
- Hours/week
- 2
-
John ShenJOHN SHEN
Director
- Total calculated
- $0
- Hours/week
- 2
-
Chris HalliwellCHRIS HALLIWELL
Director
- Total calculated
- $0
- Hours/week
- 2
-
Santhosh DevatiSANTHOSH DEVATI
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Sue MaloneSUE MALONE
Director
- Total calculated
- $0
- Hours/week
- 2
-
Vivian ShimoyamaVIVIAN SHIMOYAMA
Director
- Total calculated
- $0
- Hours/week
- 2
-
John KeislerJOHN KEISLER
Director
- Total calculated
- $0
- Hours/week
- 2
-
Ganesh RamanGANESH RAMAN
Director
- Total calculated
- $0
- Hours/week
- 2
-
Payal KamdarPAYAL KAMDAR
Director
- Total calculated
- $0
- Hours/week
- 2
-
Gene FraserGENE FRASER
Director
- Total calculated
- $0
- Hours/week
- 2
-
Nick SchultzNICK SCHULTZ
Director
- Total calculated
- $0
- Hours/week
- 2
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
- 2 · Substantiation required before reimbursing expenses
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
- 5a · Pay contingent on this organization's revenues
- 6a · Pay contingent on this organization's net earnings
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5b · Pay contingent on a related organization's revenues
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Part III, Additional Information
- THE EXECUTIVE DIRECTORS ANNUAL COMPENSATION INCLUDED PERFORMANCE BASED COMPENSATION BASED ON THE AMOUNT OF SERVICE FEES AND PROGRAM REVENUE GENERATED BY THE ORGANIZATION.
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 20 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322939349300942
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