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Better Burbank Corporation

Burbank, CAUnknown exempt organization EIN 95-4819679Latest return filed Nov 14, 2022

On file with the IRSBurbank, CA

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To further the economic welfare of the region within the incorporated boundaries of the city of Burbank

34¢ of each $1 spent went to programs.
$18K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $1K a year · 2% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
34%
of spending
Concern: 34% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$18K
to officers and key staff · 62% of spending
Concern: pay to officers and key staff is 62% of spending; over 30%.
Pt VII · Sec A
Cash reserves
22 mo
of spending, in cash
Looks good: 22.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
-100% vs prior year
Spent
$30K
To programs
34%
Net assets
$55K
By yearFY2020–FY2021
Revenue
$0
FY2021▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2020$117K
FY2021$0
Expenses
$30K
FY2021▼ -67%
Tap a bar for its year
Expenses by fiscal year
FY2020$90K
FY2021$30K
Net assets
$55K
FY2021▼ -35%
Tap a bar for its year
Net assets by fiscal year
FY2020$84K
FY2021$55K

From the FY2021 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

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

Where the money goes

34 cents of each dollar spent went to programs.

Program services 34% · $10K Management & general 66% · $20K

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

Something off? Claim to add context

Who runs it and what they're paid

17 people listed on the 990; $18K paid to officers and key staff.

Part VII, Section A · reportable compensation
Tom Flavin
Treasurer
$18,382Pt VII · Sec A
Donovan Green
Board Member
$0Pt VII · Sec A
Michael Cusumano
Board Member
$0Pt VII · Sec A
Paul W Krueger
Board Member
$0Pt VII · Sec A
Joy Forbes
Director
$0Pt VII · Sec A
Kelly Linden
Board Member
$0Pt VII · Sec A
Vic Georgino
Board Member
$0Pt VII · Sec A
Frank R Miller
Board Member
$0Pt VII · Sec A
See Better Burbank Corporation executive salaries →

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

Promotes economic growth and prosperity within the City of Burbank's boundaries.

Questions for Better Burbank Corporation

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1 program · $10K · in their own filed words · FY2021
01

Provide relevant economic data to educate the public about the importance of expanding its economic base to develop a sustainable economy in the city

$10Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$30K
Ln 25
Programscol B$10K
Managementcol C$20K
Owns and owesPt X
$55K
net assets · Ln 32
Cash and savingsLn 1–2$55K
Total assetsLn 16$55K
LiabilitiesLn 26$0
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$55K
Cash and savings togetherLn 1–2$55K
Total assetsLn 16$55K
LiabilitiesLn 26$0
Net assetsLn 32$55K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$109K$55K
Total assetsLn 16$109K$55K
LiabilitiesLn 26$25K$0
Net assetsLn 32$84K$55K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$650$650
Other fees for servicesLn 11g$18K$18K
Office expensesLn 13$188$188
Other expenses (24a–d)Ln 24$11K$10K$620
Total functional expensesLn 25$30K$10K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest ViewingFiled with the IRS Nov 14, 2022 $0$30K−$30K$55K 990 PDF
FY2020Filed with the IRS Jul 27, 2022 $117K$90K$27K$84K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $117,000$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $117,000$0
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $89,640$29,840
I-18 Total expensesPrior year $89,640$29,840
I-19 Revenue less expensesPrior year $27,360−$29,840
Part VI · Governance 16 of 16 board members independent, 4 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $0 across 1 lines filed
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $29,840 across 4 lines filed
IX-11c Accounting feesManagement $650$650
IX-11g Other fees for servicesManagement $18,382$18,382
IX-13 Office expensesManagement $188$188
IX-24 Other expenses (24a–d)Programs $10,000 · Management $620$10,620
IX-25 Total functional expensesPrograms $10,000 · Management $19,840 · Fundraising $0$29,840
Part X · Balance sheet $54,643 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $109,483$54,643
X-16 Total assetsStart of year $109,483$54,643
X-17 Accounts payable and accrued expensesStart of year $25,000$0
X-26 Total liabilitiesStart of year $25,000$0
X-27 Net assets without donor restrictionsStart of year $84,483$54,643
X-32 Total net assets or fund balancesStart of year $84,483$54,643
X-33 Total liabilities and net assetsStart of year $109,483$54,643
Part XI · Reconciliation of net assets $54,643 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$29,840
XI-3 Revenue less expenses−$29,840
XI-4 Net assets at start of year$84,483
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$54,643

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

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