Civic Intelligence

Beam Center Inc.

990 • Fiscal year 2021 • EIN 45-4273449

Sep 01, 2020 to Aug 31, 2021 • Filed on Feb 18, 2022

60 Sackett StreetBrooklyn, NY 11231

(718) 855-7600

Siviq Scores

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

Liabilities / Assets

89th percentile

0.71x

Higher debt load relative to assets than 89% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

67th percentile

0.22x

Higher debt load relative to revenue than 67% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

48th percentile

12%

Higher net margin than 48% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

65th percentile

18%

Faster asset growth than 65% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Revenue Growth

42nd percentile

5.8%

Faster revenue growth than 42% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Assets

Up

$862,932

Up $244,204 (+39%) from 2019

Net Assets

Up

$248,384

Up $44,306 (+22%) from 2019

Liabilities

Up

$614,548

Up $199,898 (+48%) from 2019

Revenue

Up

$2,801,574

Up $299,250 (+12%) from 2019

Expenses

Up

$2,478,335

Up $179,313 (+7.8%) from 2019

Net Income

Up

$323,239

Up $119,937 (+59%) from 2019

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2012: $7,467Liabilities 2012: $4,8082012Assets 2013: $21,445Liabilities 2013: $12,690Net Assets 2013: $8,7552013Assets 2014: $43,342Liabilities 2014: $10,850Net Assets 2014: $32,4922014Assets 2015: $112,078Liabilities 2015: $146,861Net Assets 2015: -$34,7832015Assets 2016: $216,252Liabilities 2016: $278,858Net Assets 2016: -$62,6062016Assets 2017: $292,639Liabilities 2017: $233,798Net Assets 2017: $58,8412017Assets 2018: $316,917Liabilities 2018: $316,140Net Assets 2018: $7772018Assets 2019: $618,728Liabilities 2019: $414,650Net Assets 2019: $204,0782019Assets 2021: $862,932Liabilities 2021: $614,548Net Assets 2021: $248,3842021Assets 2023: $976,755Liabilities 2023: $671,224Net Assets 2023: $305,5312023Assets 2024: $1,555,927Liabilities 2024: $832,353Net Assets 2024: $723,5742024

Highlighted filing

2021

Assets$862,932
Liabilities$614,548
Net Assets$248,384

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $58,693Expenses 2012: $56,034Net Income 2012: $2,6592012Revenue 2013: $265,958Expenses 2013: $259,862Net Income 2013: $6,0962013Revenue 2014: $406,433Expenses 2014: $382,696Net Income 2014: $23,7372014Revenue 2015: $1,273,464Expenses 2015: $1,340,739Net Income 2015: -$67,2752015Revenue 2016: $1,490,887Expenses 2016: $1,359,623Net Income 2016: $131,2642016Revenue 2017: $1,565,244Expenses 2017: $1,443,797Net Income 2017: $121,4472017Revenue 2018: $1,928,566Expenses 2018: $1,986,630Net Income 2018: -$58,0642018Revenue 2019: $2,502,324Expenses 2019: $2,299,022Net Income 2019: $203,3022019Revenue 2021: $2,801,574Expenses 2021: $2,478,335Net Income 2021: $323,2392021Revenue 2023: $4,233,905Expenses 2023: $4,103,265Net Income 2023: $130,6402023Revenue 2024: $3,909,258Expenses 2024: $4,148,755Net Income 2024: -$239,4972024

Highlighted filing

2021

Revenue$2,801,574
Expenses$2,478,335
Net Income$323,239
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Feb 18, 2022
Return Version
2020v4.1
Gross Receipts
$2,801,574
Mission and Program Overview

Mission

Founded in 2012, beam center collaborates with creators and schools to make learning and work accessible to all nyc youth.beam center integrates art, design, science and engineering with traditional academic objectives to support student pathways to higher education and future careers. Aiming to close the achievement gap between various communities, we create learning opportunities in and out of school for youth (ages 8 to 18 years old) and educators with inspired, technology integrated projects.we collaborate with public school teachers, administators and community parters to provide stem and design/art based education, youth mentorship, and professional development training for educators.

Founded in 2012, beam center collaborates with creators and schools to make learning and work accessible to all nyc youthbeam center integrates art design science & engineering.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$318,722$526,322▲ $207,600
Accounts Receivable$159,258$171,961▲ $12,703
Land, Buildings, and Equipment, Net$50,928$117,884▲ $66,956
Loans From Officers Directors$25,000$39,000▲ $14,000
Prepaid Expenses and Deferred Charges$11,930$19,397▲ $7,467
Total Assets$553,138$862,932▲ $309,794
Other Assets Total$12,300$27,368▲ $15,068
Liabilities
Deferred Revenue$263,120$291,654▲ $28,534
Unsecured Notes Loans Payable$149,900$149,900→ $0
Accounts Payable and Accrued Expenses$189,973$133,994▼ $55,979
Total Liabilities$627,993$614,548▼ $13,445
Net Assets / Fund Balance
Net Assets With Donor Restrictions$-74,855$248,384▲ $323,239
Total Net Assets Fund Balance$-74,855$248,384▲ $323,239
Total Liabilities and Net Assets / Fund Balance$553,138$862,932▲ $309,794

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$37,898-
Equipment$56,879$29,546-
Leasehold Improvements$61,005$18,104-
Other Assets Org$13,068--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Daniel KahnChairman
Juliette AdamsDirector
Kathy LarchianDirector
Nancy OteroDirector
Nicole KimDirector
Philip KimDirector
Fabian JabroSecretary
Peter WrightTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,202,031
Program Service Revenue
$1,584,913
Investment Income
$0
Other Revenue
$14,630
All Other Contributions
$734,621
Change in Net Assets
$323,239

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,801,574
Total Revenue per Audited Statements
$2,801,574
Total Revenue per Form 990
$2,801,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,696,491
Other Expenses$781,844
Total Fundraising Expense$127,907
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,267,093$49,111$108,739$1,424,943
Occupancy$167,886$52,437-$220,323
Other Expenses$171,630$295$205$172,130
Payroll Taxes$111,407$7,789$9,561$128,757
Other Employee Benefits$101,349-$1,966$103,315
Insurance$93,314--$93,314
All Other Expenses$75,181$4,280$1,587$81,048
Current Officers, Directors, Trustees, and Key Employees-$39,476-$39,476
Fees for Services Other$32,528$575-$33,103
Office Expenses$2,396$13,280$3,459$19,135
Depreciation Depletion$13,344$2,481-$15,825
Interest$78$11,401-$11,479
Fees for Services Accounting-$10,000-$10,000
Travel$5,156$49-$5,205
Advertising$1,723$1,255$1,691$4,669
Total Functional Expenses$2,153,104$197,324$127,907$2,478,335

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,478,335
Total Expenses per Audited Statements$2,478,335
Total Expenses per Form 990$2,478,335
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$25,000$39,000▲ $14,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
No
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

Officer directors etc family relationship Part VI line 2

SECTION A lINE 2DIRECTORS NICOLE AND PHILIP KIM ARE MARRIED

Committee meeting documentation Part VI line 8B

Section a line 8bthe board acted as a whole on all matters and no committee was appointed during the fiscal year

Form 990 governing body review Part VI line 11

Section a line 11a draft of the form 990 was sent to the board before filing

Governing documents etc available to public Part VI line 19

Section c line 19the organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request at 60 sackett street, brooklyn, ny 11231.

Filing and Contact Details

Filer

Filer Name
Beam Center Inc
EIN
45-4273449
Address
60 SACKETT STREET, Brooklyn, NY 11231

Signing Officer

Name
Brian Cohen
Title
Executive Direc
Phone
7188557600
Signed
2022-02-18
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
86
Volunteers
12

Preparer

Firm
Philip J Palladino CPA Pc
Address
3601 HEMPSTEAD TPKE SUITE 210, Levittown, NY 11756
Preparer
Philip J Palladino
Phone
5167358777
Supplemental Narrative

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

line 2THE ORGANIZATION RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY OR NOT TO BE SUSTAINED. MANAGEMENT IS NOT AWARE OF ANY INSTANCES WHICH MIGHT VIOLATE ITS TAX STATUS AS AN EXEMPT ORGANIZATION, NOR IS IT AWARE OF ANY REVENUE WHICH MIGHT BE SUBJECT TO UNRELATED BUSINESS INCOME TAX.THE ORGANIZATION ADOPTED THE PROVISIONS OF FIN 48, ACCOUNTING FOR UNCERTAIN INCOME TAX PROVISIONS. AS A RESULT OF THIS ADOPTION, THE ORGANIZATION WAS NOT REQUIRED TO RECOGNIZE ANY AMOUNTS FROM UNCERTAIN TAX POSITIONS. THE ORGANIZATIONS CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED ONONGOING ANALYSES OF TAX LAWS, REGULATIONS AND INTERPRETATIONS THEREOF, AS WELL AS OTHER FACTORS,

General Explanation Attachment

Generally federal state and local authorities may examine the organzations tax returns for three years from the date of filing.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0BEAMWORKS: PUBLIC SCHOOL PARTNERSHIPS-BEAM CENTER FACULTY COLLABORATE WITH TEACHERS ON ART AND TECHNOLOGY PROJECTS, SERVING MIDDLE AND HIGH SCHOOL STUDENTS FROM PUBLIC SCHOOLS THROUGHOUT NYC, IN AND OUT OF THE CLASSROOM.BEAMWORKS YOUTH LEARN AND LEAD: YOUTH APPRENTICESHIPS:11TH AND 12TH GRADERS FROM OUR PARTNER HIGH SCHOOLS LEARN TECHNICAL AND TEACHING SKILLS, WORK ON A LARGE SCALE COLLABORATIVE PROJECT, AND DESIGN SKILLS BASED LEARNING ACTIVITIES TO SHARE WITH YOUNGER STUDENTS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0BEAM CAMP:NEW HAMPSHIRE SLEEPAWAY SUMMER PROGRAM WHERE CAMPERS LEARN CREATIVE AND COLLABORATION SKILLS AND BUILD A SPECTACULAR LARGESCALE COLLABORATIVE PROJECT CHOSEN THROUGH AN ANNUAL WORLDWIDE DESIGN COMPETITION
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM LANDLORD
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0line 2THE ORGANIZATION RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY OR NOT TO BE SUSTAINED. MANAGEMENT IS NOT AWARE OF ANY INSTANCES WHICH MIGHT VIOLATE ITS TAX STATUS AS AN EXEMPT ORGANIZATION, NOR IS IT AWARE OF ANY REVENUE WHICH MIGHT BE SUBJECT TO UNRELATED BUSINESS INCOME TAX.THE ORGANIZATION ADOPTED THE PROVISIONS OF FIN 48, ACCOUNTING FOR UNCERTAIN INCOME TAX PROVISIONS. AS A RESULT OF THIS ADOPTION, THE ORGANIZATION WAS NOT REQUIRED TO RECOGNIZE ANY AMOUNTS FROM UNCERTAIN TAX POSITIONS. THE ORGANIZATIONS CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED ONONGOING ANALYSES OF TAX LAWS, REGULATIONS AND INTERPRETATIONS THEREOF, AS WELL AS OTHER FACTORS,
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GENERALLY FEDERAL STATE AND LOCAL AUTHORITIES MAY EXAMINE THE ORGANZATIONS TAX RETURNS FOR THREE YEARS FROM THE DATE OF FILING.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1General Explanation Attachment
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0ONGOING
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt164000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0BRIAN COHEN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1DANIEL KAHN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0EXECUTIVE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1BOARD
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0LOANS TO AND FROM INTERESTED PERSONS:A- NAME OF PERSON - BRIAN COHENB- RELATIONSHIP WITHIN ORGANIZATION-EXECUTIVE DIRECTORC- PURPOSE OF LOAN - ONGOING OPERATIONSD- LOAN TO OR FROM ORGANIZATION- TOE- ORIGINAL PRINCIPAL AMOUNT $ 51,000F- BALANCE DUE $ 11,000G- LOAN IN DEFAULT - NOH- APPROVED BY BOARD OR COMMITTEE - NOI- WRITTEN AGREEMENT- YESA- NAME OF PERSON - DANIEL KAHNB- RELATIONSHIP WITHIN ORGANIZATION-BOAR CHAIRC- PURPOSE OF LOAN - VEHICLE PURCHASE, ONGOING OPERATIONSD- LOAN TO OR FROM ORGANIZATION- TOE- ORIGINAL PRINCIPAL AMOUNT $ 54,000F- BALANCE DUE $ 14,000G- LOAN IN DEFAULT - NOH- APPROVED BY BOARD OR COMMITTEE - NOI- WRITTEN AGREEMENT- YES
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Supplemental Information for Schedule L
IRS990ScheduleL/TotalBalanceDueAmt039000
IRS990/ScheduleORequiredInd0true

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