Civic Intelligence

Long Beach Island Foundation of the Arts and Sciences

990 • Fiscal year 2016 • EIN 22-6049190

Oct 01, 2015 to Sep 30, 2016 • Filed on Aug 01, 2017

120 Long Beach BlvdLoveladies, NJ 08008

(609) 494-1241

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.11x

Higher debt load relative to assets than 62% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

68th percentile

0.12x

Higher debt load relative to revenue than 68% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Net Margin

37th percentile

-2.1%

Higher net margin than 37% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Asset Growth

27th percentile

-4.1%

Faster asset growth than 27% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

29th percentile

-11%

Faster revenue growth than 29% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Down

$868,562

Down $37,125 (-4.1%) from 2015

Net Assets

Down

$770,178

Down $13,477 (-1.7%) from 2015

Liabilities

Down

$98,384

Down $23,648 (-19%) from 2015

Revenue

Down

$797,068

Down $94,646 (-11%) from 2015

Expenses

Up

$813,467

Up $38,306 (+4.9%) from 2015

Net Income

Down

-$16,399

Down $132,952 (-114%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $1,076,996Liabilities 2010: $129,661Net Assets 2010: $947,3352010Assets 2011: $1,034,910Liabilities 2011: $210,587Net Assets 2011: $824,3232011Assets 2012: $996,384Liabilities 2012: $219,459Net Assets 2012: $776,9252012Assets 2013: $976,997Liabilities 2013: $265,710Net Assets 2013: $711,2872013Assets 2014: $909,341Liabilities 2014: $242,239Net Assets 2014: $667,1022014Assets 2015: $905,687Liabilities 2015: $122,032Net Assets 2015: $783,6552015Assets 2016: $868,562Liabilities 2016: $98,384Net Assets 2016: $770,1782016Assets 2017: $852,533Liabilities 2017: $123,238Net Assets 2017: $729,2952017Assets 2018: $862,482Liabilities 2018: $157,471Net Assets 2018: $705,0112018Assets 2019: $1,208,578Liabilities 2019: $145,409Net Assets 2019: $1,063,1692019Assets 2020: $1,337,572Liabilities 2020: $225,622Net Assets 2020: $1,111,9502020Assets 2021: $1,568,649Liabilities 2021: $243,231Net Assets 2021: $1,325,4182021Assets 2022: $1,827,968Liabilities 2022: $189,330Net Assets 2022: $1,638,6382022Assets 2023: $3,529,974Liabilities 2023: $136,091Net Assets 2023: $3,393,8832023Assets 2024: $4,037,622Liabilities 2024: $165,426Net Assets 2024: $3,872,1962024

Highlighted filing

2016

Assets$868,562
Liabilities$98,384
Net Assets$770,178

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $720,370Expenses 2010: $772,333Net Income 2010: -$51,9632010Revenue 2011: $685,394Expenses 2011: $756,017Net Income 2011: -$70,6232011Expenses 2012: $782,1832012Expenses 2013: $796,5372013Revenue 2014: $694,813Expenses 2014: $738,996Net Income 2014: -$44,1832014Revenue 2015: $891,714Expenses 2015: $775,161Net Income 2015: $116,5532015Revenue 2016: $797,068Expenses 2016: $813,467Net Income 2016: -$16,3992016Revenue 2017: $868,935Expenses 2017: $912,818Net Income 2017: -$43,8832017Revenue 2018: $945,577Expenses 2018: $969,859Net Income 2018: -$24,2822018Revenue 2019: $1,325,138Expenses 2019: $968,490Net Income 2019: $356,6482019Revenue 2020: $844,112Expenses 2020: $799,712Net Income 2020: $44,4002020Revenue 2021: $1,097,383Expenses 2021: $891,489Net Income 2021: $205,8942021Revenue 2022: $1,261,574Expenses 2022: $933,368Net Income 2022: $328,2062022Revenue 2023: $2,791,375Expenses 2023: $1,041,732Net Income 2023: $1,749,6432023Revenue 2024: $1,595,159Expenses 2024: $1,136,920Net Income 2024: $458,2392024

Highlighted filing

2016

Revenue$797,068
Expenses$813,467
Net Income-$16,399
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Aug 1, 2017
Return Version
2015v3.0
Gross Receipts
$797,068
Mission and Program Overview

Mission

The enhancement of the creative arts and physical sciences

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$772,106$730,163▼ $41,943
Savings and Temporary Cash Investments$54,616$74,748▲ $20,132
Investments in Publicly Traded Securities$40,801$44,988▲ $4,187
Pledges and Grants Receivable$26,660$16,360▼ $10,300
Accounts Receivable$11,504$2,303▼ $9,201
Total Assets$905,687$868,562▼ $37,125
Liabilities
Unsecured Notes Loans Payable$46,500$45,250▼ $1,250
Other Liabilities$60,730$28,092▼ $32,638
Accounts Payable and Accrued Expenses$14,802$25,042▲ $10,240
Total Liabilities$122,032$98,384▼ $23,648
Net Assets / Fund Balance
Unrestricted Net Assets$737,471$752,202▲ $14,731
Temporarily Rstr Net Assets$46,184$17,976▼ $28,208
Total Net Assets Fund Balance$783,655$770,178▼ $13,477
Total Liabilities and Net Assets / Fund Balance$905,687$868,562▼ $37,125

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$705,163$1,781,095$2,486,258
Land$25,000-$25,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rick BushnellPresident
Deborah BrillPresident-el
Angela AndersonTrustee
Brian PaichTrustee
Carol NussbaumTrustee
Daniella KernerTrustee
Jay MaddenTrustee
Jean PaichTrustee
Joan GaliardoTrustee
Llnon Slossber-northTrustee
Sue WortmannTrustee
Todd StrineTrustee
Bud BermanPast Preside
Sandy KosinskiSecretary
Tom BershadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$277,475
Program Service Revenue
$455,225
Investment Income
$1,267
Other Revenue
$63,101
All Other Contributions
$91,822
Change in Net Assets
$-16,399

Audited Revenue Reconciliation

Revenue per Audited Statements
$797,068
Revenue Not Reported on Form 990
$2,922
Total Revenue per Audited Statements
$799,990
Total Revenue per Form 990
$797,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$423,782
Salaries, Compensation, and Employee Benefits$389,685
Total Fundraising Expense$29,956
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$165,412$148,870$16,541$330,823
Occupancy$53,527$9,446-$62,973
Insurance$47,253$9,768$3,001$60,022
Advertising$50,446-$2,655$53,101
Fees for Services Other$39,595$4,658$2,329$46,582
Depreciation Depletion$35,652$4,194$2,097$41,943
Payroll Taxes$16,771$15,094$1,677$33,542
Other Employee Benefits$12,660$11,394$1,266$25,320
Office Expenses$2,291$12,026-$14,317
Information Technology$1,951$11,984-$13,935
Fees for Services Accounting-$13,394-$13,394
Other Expenses$2,151$2,390$239$4,780
Interest-$1,866-$1,866
Travel$1,535$68$102$1,705
Conferences and Meetings$1,034$258-$1,292
All Other Expenses$-9,168$4,659$49$-4,460
Total Functional Expenses$519,462$264,049$29,956$813,467

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$813,467
Total Expenses per Audited Statements$813,467
Total Expenses per Form 990$813,467
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,890
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fund-raising Ev$17,890$17,890-$17,890
Total Events$17,890$17,890-$17,890
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit - Td Bank$21,495
Other Current Liabilities$6,597
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Brian paich jean paich trustee trustee husband and wife

Form 990, Page 6, Part VI, Line 11B

The form 990 is submitted to the finance chair / treasurer who reviews and approves. The 990 is then submitted to the entire governing board.

Form 990, Page 6, Part VI, Line 15A

The executive director's salary is reviewed annually by the finance chair and governing board.

Form 990, Page 6, Part VI, Line 19

The foundations form 1023, exemption letter and current informational returns are available upon request at the foundations office.

Filing and Contact Details

Filer

Filer Name
Long Beach Island Foundation
EIN
22-6049190
Phone
6094941241
Address
120 LONG BEACH BLVD, LOVELADIES, NJ 08008

Signing Officer

Name
Tom Bershad
Title
Treasurer
Phone
6094941241
Signed
2017-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Bershad
Formed
1937
Legal Domicile
Nj
Voting Board Members
15
Independent Board Members
13
Employees
52

Preparer

Firm
Matthew K Varley CPA LLC
Address
1030 HOOPER AVE SUITE 2A, TOMS RIVER, NJ 08753-8368
Preparer
Matthew K Varley
Phone
7323417766
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Gross up of fund raising expenses 0 gross up for fund raising expenses 0

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Gross up of fund raising expenses 0

Schedule D, Page 4, Part XII, Line 2D

Gross up for fund raising expenses 0

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GROSS UP FOR FUND RAISING EXPENSES 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.04$0.17$3.87$1.60$1.14$0.46
2023Detailed filing. Detailed filing data is available for this year.$3.53$0.14$3.39$2.79$1.04$1.75
2022Detailed filing. Detailed filing data is available for this year.$1.83$0.19$1.64$1.26$0.93$0.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$0.24$1.33$1.10$0.89$0.21
2020Detailed filing. Detailed filing data is available for this year.$1.34$0.23$1.11$0.84$0.80$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.21$0.15$1.06$1.33$0.97$0.36
2018Detailed filing. Detailed filing data is available for this year.$0.86$0.16$0.71$0.95$0.97$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.85$0.12$0.73$0.87$0.91$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.87$0.10$0.77$0.80$0.81$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.91$0.12$0.78$0.89$0.78$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.91$0.24$0.67$0.69$0.74$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.27$0.71$0.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.22$0.78$0.78
2011Summary only. Only limited summary data is available for this year.$1.03$0.21$0.82$0.69$0.76$0.07
2010Summary only. Only limited summary data is available for this year.$1.08$0.13$0.95$0.72$0.77$0.05