Long Beach Accelerator INC FY2021 filing

Tax-deductible

Long Beach, CA501(c)(3)Community DevelopmentEIN 84-3378272Revenue $388K in FY2021

On file with the IRSlbaccelerator.org245 E 3rd St, 90802-3141 · Long Beach, CATax-exempt since Feb 2020Publicly supported — 509(a)(2)

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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.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$162K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $5K a year · 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$162K
to officers and key staff · 54% of spending
Concern: pay to officers and key staff is 54% of spending; over 30%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $72K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$242K
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 10 voting members
Looks good: 11 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$388K
Spent
$302K
To programs
82%
Net assets
−$3K
By yearFY2021–FY2024
Revenue
$388K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$388K
FY2022$366K
FY2023$416K
FY2024$91K
Expenses
$302K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$302K
FY2022$488K
FY2023$395K
FY2024Not on file
Net assets
−$3K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$3K
FY2022−$126K
FY2023−$105K
FY2024−$143K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $248K Management & general 18% · $54K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990; $162K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$162,220Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Andrea White-Kjoss’s $170K as Executive Dir. is at the 98th percentile of top reported officer pay among 168 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021
Andrea White-Kjoss$170,445$183,877$162,220

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Accelerates early startups with funding, mentorship, and exit strategies.

Provided by the organization

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1 program · $248K · in their own filed words · FY2021
01

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.

$248Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$72K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$388K
Ln 12
Fees for servicesLn 2g$328K
Gifts and grantsLn 1h$60K
Investment incomeLn 3$19
Money outPt IX
$302K
Ln 25
Programscol B$248K
Managementcol C$54K
Owns and owesPt X
−$3K
net assets · Ln 32
Cash and savingsLn 1–2$207K
Total assetsLn 16$239K
LiabilitiesLn 26$242K
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$60K
Government grantsLn 1e$60K
Fees for servicesLn 2g$328K
Investment incomeLn 3$19
Gains on assetsLn 7$0
Total revenueLn 12$388K
Assets in detailPt X, end of year
CashLn 1$207K
SavingsLn 2$0
Cash and savings togetherLn 1–2$207K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$239K
LiabilitiesLn 26$242K
Net assetsLn 32−$3K
OperationsPt I, VI
EmployeesI 54
VolunteersI 640
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$129K$207K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$136K$239K
LiabilitiesLn 26$225K$242K
Net assetsLn 32−$89K−$3K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$162K$138K$24K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$53K$45K$8K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$17K$14K$3K
Payroll taxesLn 10$16K$13K$2K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$9K$4K$4K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$3K$2K$2K
Advertising and promotionLn 12$1K$500$500
Office expensesLn 13$2K$845$841
Information technologyLn 14$2K$1K$1K
RoyaltiesLn 15$0
OccupancyLn 16$2K$2K$371
TravelLn 17$2K$2K$359
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$246$123$123
InterestLn 20$7K$4K$4K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$10K$8K$1K
Other expenses (24a–d)Ln 24$14K$12K$2K
All other expensesLn 24e$1K$705$705
Total functional expensesLn 25$302K$248K$54K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $91K−$143K 990 PDF
FY2023 $416K$395K$21K−$105K 990 PDF
FY2022 $366K$488K−$123K−$126K 990 PDF
FY2021 Viewing $388K$302K$86K−$3K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $388,138 revenue, 12 lines filed
I-8 Contributions and grants$59,995
I-9 Program service revenue$328,124
I-10 Investment incomePrior year $62$19
I-11 Other revenuePrior year $2,500$0
I-12 Total revenuePrior year $2,562$388,138
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $51,700$247,908
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $31,512$54,580
I-18 Total expensesPrior year $83,212$302,488
I-19 Revenue less expensesPrior year −$80,650$85,650
Part VI · Governance 11 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $388,138 across 9 lines filed
VIII-1e Government grants$59,995
VIII-1h Total contributions, gifts and grants$59,995
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $328,124$328,124
VIII-3 Investment incomeExcluded from tax $19$19
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $328,124 · Excluded from tax $19$388,138
Part IX · Statement of functional expenses $302,488 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $137,887 · Management $24,333$162,220
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $45,187 · Management $7,974$53,161
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $14,235 · Management $2,514$16,749
IX-10 Payroll taxesPrograms $13,411 · Management $2,367$15,778
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $4,324 · Management $4,324$8,648
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $1,576 · Management $1,576$3,152
IX-12 Advertising and promotionPrograms $500 · Management $500$1,000
IX-13 Office expensesPrograms $845 · Management $841$1,686
IX-14 Information technologyPrograms $1,232 · Management $1,232$2,464
IX-15 Royalties$0
IX-16 OccupancyPrograms $2,101 · Management $371$2,472
IX-17 TravelPrograms $2,034 · Management $359$2,393
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $123 · Management $123$246
IX-20 InterestPrograms $3,601 · Management $3,601$7,202
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $8,436 · Management $1,489$9,925
IX-24 Other expenses (24a–d)Programs $12,264 · Management $1,718$13,982
IX-24e All other expensesPrograms $705 · Management $705$1,410
IX-25 Total functional expensesPrograms $248,461 · Management $54,027 · Fundraising $0$302,488
Part X · Balance sheet $238,762 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $128,753$206,854
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $2,500$29,368
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $4,599$2,540
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $135,852$238,762
X-17 Accounts payable and accrued expensesStart of year $21,443$20,444
X-25 Other liabilitiesStart of year $3,381$21,640
X-26 Total liabilitiesStart of year $224,824$242,084
X-27 Net assets without donor restrictionsStart of year −$88,972−$3,322
X-32 Total net assets or fund balancesStart of year −$88,972−$3,322
X-33 Total liabilities and net assetsStart of year $135,852$238,762
Part XI · Reconciliation of net assets −$3,322 net assets at year end
XI-1 Total revenue$388,138
XI-2 Total expenses$302,488
XI-3 Revenue less expenses$85,650
XI-4 Net assets at start of year−$88,972
XI-10 Net assets at end of year−$3,322

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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