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Nonprofiteer
← FORTY-NINER SHOPS INC

Form 990 for tax year 2023

Filed by FORTY-NINER SHOPS INC.

Totals

Total revenue
$21,590,805
Total expenses
$18,650,007
Contributions and grants received
$0
Grants paid
$122,870
Program service revenue
$2,459,235
Investment income
$332,704
Other revenue
$18,798,866
Total assets, end of year
$28,453,821
Total liabilities, end of year
$12,516,298
Net assets or fund balances, end of year
$15,937,523
Program services expenses (Part IX)
$15,416,229
Management and general expenses
$3,233,778
Fundraising expenses
$0
Program service expenses (Part III)
$15,416,229

Program services were 82.7% 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.

  • 2a · Program service revenue: ENTERPRISE REVENUE

    total $2,459,235 · related or exempt $2,459,235

  • 3 · Investment income

    total $340,420 · excluded $340,420

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

    other assets $7,716

  • 7c · Gain or loss

    other assets -$7,716

  • 7d · Net gain or loss

    total -$7,716 · excluded -$7,716

  • 10a · Gross sales of inventory

    $30,051,731

  • 10b · Cost of goods sold

    $11,469,345

  • 10c · Net income from sales of inventory

    total $18,582,386 · related or exempt $18,582,386

  • 11a · Other revenue: SHARED SERVICES COST SHARING

    total $144,960 · related or exempt $144,960

  • 11b · Other revenue: OTHER INCOME

    total $71,520 · related or exempt $71,520

  • 11e · Other revenue, total

    $216,480

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $122,870 · program services $122,870

  • 5 · Compensation of officers, directors and key employees

    total $311,795 · management and general $311,795

  • 7 · Other salaries and wages

    total $9,344,615 · program services $7,754,673 · management and general $1,589,942

  • 9 · Other employee benefits

    total $2,327,551 · program services $1,890,746 · management and general $436,805

  • 10 · Payroll taxes

    total $549,251 · program services $446,175 · management and general $103,076

  • 11c · Fees: accounting

    total $31,500 · management and general $31,500

  • 11f · Fees: investment management

    total $38,281 · management and general $38,281

  • 11g · Fees: other

    total $1,150,606 · program services $981,273 · management and general $169,333

  • 12 · Advertising and promotion

    total $56,341 · program services $41,108 · management and general $15,233

  • 16 · Occupancy

    total $397,224 · program services $366,426 · management and general $30,798

  • 17 · Travel

    total $12,348 · program services $9,009 · management and general $3,339

  • 19 · Conferences, conventions and meetings

    total $45,386 · program services $33,115 · management and general $12,271

  • 20 · Interest

    total $114,340 · program services $114,340

  • 22 · Depreciation, depletion and amortization

    total $621,766 · program services $613,615 · management and general $8,151

  • 23 · Insurance

    total $267,366 · program services $256,590 · management and general $10,776

  • 24a · Other expenses: ROYALTY AND COMMISSIONS

    total $1,082,431 · program services $1,082,431 · management and general $0 · fundraising $0

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $1,080,606 · program services $735,925 · management and general $344,681 · fundraising $0

  • 24c · Other expenses: SUPPLIES

    total $791,070 · program services $745,644 · management and general $45,426 · fundraising $0

  • 24d · Other expenses: OTHER OPERATING EXPENSE

    total $304,660 · program services $222,289 · management and general $82,371 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,416,744 · end of year $1,831,079

  • 2 · Savings and temporary cash investments

    beginning of year $3,246,419 · end of year $4,812,067

  • 4 · Accounts receivable

    beginning of year $1,093,219 · end of year $2,866,338

  • 8 · Inventories for sale or use

    beginning of year $1,163,033 · end of year $1,277,887

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,998 · end of year $1,908

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

    $25,206,703

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

    $20,814,266

  • 10c · Land, buildings and equipment, net

    beginning of year $4,801,588 · end of year $4,392,437

  • 11 · Investments: publicly traded securities

    beginning of year $8,922,823 · end of year $10,303,575

  • 12 · Investments: other securities

    beginning of year $733,314 · end of year $796,223

  • 15 · Other assets

    beginning of year $1,470,200 · end of year $2,172,307

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,898,853 · end of year $3,172,885

  • 23 · Secured mortgages and notes payable

    beginning of year $3,144,022 · end of year $3,006,971

  • 25 · Other liabilities

    beginning of year $5,953,170 · end of year $6,336,442

  • 27 · Net assets without donor restrictions

    beginning of year $12,866,293 · end of year $15,937,523

Mission and programs · 2023

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 $6,534,103 · Grants $122,870 · Revenue $11,197,105

  • 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 $4,348,445 · Revenue $6,284,437

  • 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 $3,274,156 · Revenue $2,155,375

  • 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 $1,259,525 · Revenue $1,621,184

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeremy Harris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • John Barcelona

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Teresa Falcon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Alvin Tu

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mitali Jain

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Virginia Gray

    BOARD MEMBER

    Total calculated
    $193,014
    From this org
    $0
    From related orgs
    $133,060
    Other
    $59,954
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $130,410 related
    Bonus
    $0 + $2,650 related
    Other
    $0
    Deferred
    $0 + $32,847 related
    Nontaxable benefits
    $0 + $27,107 related
    Filer's total
    $0 + $193,014 related

  • Praveen Soni

    BOARD MEMBER

    Total calculated
    $224,584
    From this org
    $0
    From related orgs
    $179,519
    Other
    $45,065
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $178,619 related
    Bonus
    $0 + $900 related
    Other
    $0
    Deferred
    $0 + $36,013 related
    Nontaxable benefits
    $0 + $9,052 related
    Filer's total
    $0 + $224,584 related

  • Milton Ordonez

    BOARD MEMBER

    Total calculated
    $291,602
    From this org
    $0
    From related orgs
    $218,730
    Other
    $72,872
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,640 related
    Bonus
    $0
    Other
    $0 + $90 related
    Deferred
    $0 + $46,733 related
    Nontaxable benefits
    $0 + $26,139 related
    Filer's total
    $0 + $291,602 related

  • Beth Lesen

    VICE CHAIR

    Total calculated
    $395,459
    From this org
    $0
    From related orgs
    $279,294
    Other
    $116,165
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $279,156 related
    Bonus
    $0
    Other
    $0 + $138 related
    Deferred
    $0 + $88,620 related
    Nontaxable benefits
    $0 + $27,545 related
    Filer's total
    $0 + $395,459 related

  • Scott Apel

    CHAIR

    Total calculated
    $400,943
    From this org
    $0
    From related orgs
    $273,890
    Other
    $127,053
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $273,632 related
    Bonus
    $0
    Other
    $0 + $258 related
    Deferred
    $0 + $91,000 related
    Nontaxable benefits
    $0 + $36,053 related
    Filer's total
    $0 + $400,943 related

  • Gordon Copley

    CHIEF FINANCIAL OFFICER

    Total calculated
    $219,638
    From this org
    $179,807
    From related orgs
    $0
    Other
    $39,831
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $86,369
    Bonus
    $0
    Other
    $93,438
    Deferred
    $10,443
    Nontaxable benefits
    $29,388
    Filer's total
    $219,638

  • Miles Nevin

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    20

  • Clint Campbell

    ASSOCIATE EXECUTIVE DIRECT

    Total calculated
    $205,018
    From this org
    $172,356
    From related orgs
    $0
    Other
    $32,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,918
    Bonus
    $0
    Other
    $2,438
    Deferred
    $11,890
    Nontaxable benefits
    $20,772
    Filer's total
    $205,018

  • Cynthia Farrington

    DIVISION DIRECTOR

    Total calculated
    $174,356
    From this org
    $143,700
    From related orgs
    $0
    Other
    $30,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,791
    Bonus
    $0
    Other
    $1,909
    Deferred
    $9,884
    Nontaxable benefits
    $20,772
    Filer's total
    $174,356

  • Rosa Henderson

    ASSOCIATE EXECUTIVE DIRECT

    Total calculated
    $205,642
    From this org
    $172,356
    From related orgs
    $0
    Other
    $33,286
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $172,056
    Bonus
    $0
    Other
    $300
    Deferred
    $11,890
    Nontaxable benefits
    $21,396
    Filer's total
    $205,642

  • Alfredo Macias

    DIVISION DIRECTOR

    Total calculated
    $168,115
    From this org
    $129,398
    From related orgs
    $0
    Other
    $38,717
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,016
    Bonus
    $0
    Other
    $382
    Deferred
    $9,329
    Nontaxable benefits
    $29,388
    Filer's total
    $168,115

  • Majid Zahedi

    ASSOCIATE DIRECTOR

    Total calculated
    $149,937
    From this org
    $126,116
    From related orgs
    $0
    Other
    $23,821
    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
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 4A
SEVERANCE WAS PAID DURING THE YEAR TO GORDON COPLEY WHICH IS DISCLOSED IN REPORTABLE COMPENSATION.

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

    DONATION TO CAMPUS

  • CALIFORNIA STATE UNIVERSITY LONG BEACH

    $0

    DONATED MEALS TO RESIDENCE HALL STAFF.

  • CALIFORNIA STATE UNIVERSITY LONG BEACH

    $0

    DONATED BOOKSTORE ITEMS AND FOOD PANTRY ITEMS.

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
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202443119349301049

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