Long Beach Accelerator INC EIN 84-3378272 Form 990 (PDF) Claim this org

Long Beach Accelerator INC FY2022 filing

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Accelerates early startups with funding, mentorship, and exit strategies. For fiscal year 2022 it reported $366K in revenue, $488K in expenses, and $-126K in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Long Beach, CA
Website
www.lbaccelerator.org
Filings
4 on file (2021–2022)
Revenue
$366KFY2022
Expenses
$488K
Net assets
$-126K
People
16
Filings
4
Updates
0
More identity details & actions ⌄
EIN  84-3378272 Public charity (501(c)(3)) Long Beach, CA
Form 990 (PDF)
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Size
<$100K
What they do
Accelerates early startups with funding, mentorship, and exit strategies.
Leadership
Andrea White-Kjoss · Executive Dir. · $184K
Money in and out
$366K revenue, $488K expenses
Where the money goes · FY2022
Total revenue
$366K
Pt VIII · Ln 12
Total expenses
$488K
Pt IX · Ln 25
Net assets
$-126K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$123K
Where spending went · Part IX cols B–D
Program services $0.75 Management & general $0.25

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Revenue
$366K
FY2022▼ -6%
Expenses
$488K
FY2022▲ +61%
Total assets
$123K
FY2022▼ -48%
Total liabilities
$249K
FY2022▲ +3%
Total revenue
$366K
Pt VIII · Ln 12
Total expenses
$488K
Pt IX · Ln 25
Net assets
$-126K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$123K
Total assetsPt X · Ln 16$123K
Program-expense ratioPt IX · col B75%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 411

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLong Beach Accelerator INC
EINHdr · item D84-3378272
Principal addressHdr · item CLong Beach, CA
WebsiteHdr · item Jwww.lbaccelerator.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFFeb 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$183,877Pt 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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Mission & Programs · Part III

Where the work happens

1 program service account for $367K of program spending, described in the organization's own filed words · FY2022.
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.

$367Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$308K · 84%
Contributions & grants$58K · 16%
Program service revenue84%$308K
Contributions & grants16%$58K
Investment income$15
Total revenueLn 12$366K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.75 Management & general $0.25
Program services75%$367K
Management & general25%$121K
Total functional expensesLn 25$488K

Balance Sheet

Part X · end of year
CashLn 1$98K
Total assetsLn 16$123K
Total liabilitiesLn 26$249K
Total net assetsLn 32$-126K
Months of cash on handcomputed2.4

Grants

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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$91K revenue · ⤓ 990 PDF
FY2023$416K revenue · ⤓ 990 PDF
FY2022$366K revenue · viewing · ⤓ 990 PDF
FY2021$388K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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