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

Long Beach Accelerator INC FY2023 filing

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Accelerates early startups with funding, mentorship, and exit strategies. For fiscal year 2023 it reported $416K in revenue, $395K in expenses, and $-105K 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 (2021–2023)
Revenue
$416KFY2023
Expenses
$395K
Net assets
$-105K
People
12
Filings
4
Updates
0
More identity details & actions ⌄
EIN  84-3378272 Public charity (501(c)(3)) Long Beach, CA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Accelerates early startups with funding, mentorship, and exit strategies.
Leadership
Andrea White-Kjoss · Executive Dir. · $170K
Money in and out
$416K revenue, $395K expenses
Bottom line
73% program efficiency
Where the money goes · FY2023
Total revenue
$416K
Pt VIII · Ln 12
Total expenses
$395K
Pt IX · Ln 25
Net assets
$-105K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $21K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.27
Program efficiency
73%
of spending reaches programs
Operating runway
2.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+5%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$416K
FY2023▲ +14%
Expenses
$395K
FY2023▼ -19%
Total assets
$107K
FY2023▼ -13%
Total liabilities
$213K
FY2023▼ -15%
Total revenue
$416K
Pt VIII · Ln 12
Total expenses
$395K
Pt IX · Ln 25
Net assets
$-105K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$21K
Total assetsPt X · Ln 16$107K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 410

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 1a11
Independent voting membersPt VI · Ln 1b10
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.
$170,445Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$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 $287K of program spending, described in the organization's own filed words · FY2023.
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.

$287Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$239K · 57%
Contributions & grants$150K · 36%
Other revenue$27K · 6%
Program service revenue57%$239K
Contributions & grants36%$150K
Other revenue6%$27K
Total revenueLn 12$416K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.27
Program services73%$287K
Management & general27%$108K
Total functional expensesLn 25$395K

Balance Sheet

Part X · end of year
CashLn 1$95K
Total assetsLn 16$107K
Total liabilitiesLn 26$213K
Total net assetsLn 32$-105K
Months of cash on handcomputed2.9

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $95K · Operating expenses/yr $395K
2.9 months
Where the money goes
Program services
Program services $287K · Total expenses $395K
73%
Management & General
Management & general $108K · Total expenses $395K
27%
Fundraising
Fundraising $0 · Total expenses $395K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $69K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $150K · Total revenue $416K
36%
Government reliance
Government grants — · Total revenue $416K
Earned-income share
Program service revenue $239K · Total revenue $416K
57%
Investment reliance
Investment income $0 · Total revenue $416K
0%
Program self-sufficiency
Program service revenue $239K · Total expenses $395K
60%
Growth & trend
Revenue growth (YoY)
This year $416K · Prior year $366K
+14%
Net-asset trend (YoY)
End of year $-105K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $416K · Expenses $395K
+5%
Liabilities-to-Assets
Total liabilities — · Total assets $107K
Net-asset ratio
Net assets $-105K · Total assets $107K
-98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $107K
0%
People & payroll
Highest Reported Total Compensation
Individual Andrea White-Kjoss · Reported title Executive Dir. · Highest reported compensation $170K · Total expenses $395K
43%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $297K · Total expenses $395K
75%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 27%
Fundraising cost ratio 0%
Revenue growth 14%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 3%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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 · viewing · ⤓ 990 PDF
FY2022$366K revenue · ⤓ 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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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