Liabilities / Assets
80th percentile
Higher debt load relative to assets than 80% of similar nonprofits.
The562 Network Inc
EIN 82-4314833 • 501(c)3 • Long Beach, CA
Profile
This Corporation is a nonprofit public benefit corporation and is not organized for the private gain of any person. It is organized under the Nonprofit Public Benefit Corporation Law for public purposes. The specific purpose of this Corporation is to be a community-funded nonprofit news organization covering the greater Long Beach area and its students: Writers photographers and videographers cover youth and amateur sports in and around the city. The coverage provides the community with information and the student-athletes with free exposure without the business side of college recruiting services. The Corporation staff also spends time in classrooms with young and aspiring high school and college journalists to help give them the skills to succeed in the professional world. The Corporation's website will feature multimedia content and coverage of local sports including articles videos and photographs.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.12x
Liabilities / Revenue
75th percentile
Higher debt load relative to revenue than 75% of similar nonprofits.
Net Margin
54th percentile
Higher net margin than 54% of similar nonprofits.
Top Officer Pay
Score unavailable
No filing with officer rows is available for this organization yet.
Asset Growth
84th percentile
Faster asset growth than 84% of similar nonprofits.
Revenue Growth
66th percentile
Faster revenue growth than 66% of similar nonprofits.
Balance Sheet
Assets
Up$80,118
Up $21,632 (+37%) from 2023
Liabilities
Up$10,000
Up $10,000 from 2023
Net Assets
Up$70,118
Up $11,632 (+20%) from 2023
Revenue
Up$340,252
Up $37,936 (+13%) from 2023
Expenses
Up$328,619
Up $59,226 (+22%) from 2023
Net Income
Down$11,633
Down $21,290 (-65%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $80,118
- Liabilities
- $10,000
- Net assets
- $70,118
- Revenue
- $340,252
- Expenses
- $328,619
- Net income
- $11,633
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- May 15, 2025
- Return Version
- 2024v5.1
- Gross Receipts
- $340,252
Mission and Program Overview
Mission
This Corporation is a nonprofit public benefit corporation and is not organized for the private gain of any person. It is organized under the Nonprofit Public Benefit Corporation Law for public purposes. The specific purpose of this Corporation is to be a community-funded nonprofit news organization covering the city of Long Beach and its students: Writers, photographers and videographers cover youth and amateur sports in and around the city. The coverage provides the community with information and the student-athletes with free exposure, without the business side of college recruiting services. The Corporation staff also spends time in classrooms with young and aspiring high school and college journalists to help give them the skills to succeed in the professional world. The Corporation's website will feature multimedia content and coverage of local sports including articles, videos, and photographs.
The562 Network is a community funded and supported news organization serving the city of Long Beach California and greater communities. By developing a sustainable nonprofit news agency for the Long Beach community we are working to strengthen local journalism in our city. Our founding journalists have many years experience in producing a high-quality news product and have the community support the relationship with the schools colleges and universities in the area and the team around them that produces a well respected public service for our city. The products we create for the community appear on our website www.The562.org for free without charge and without "pay-walls" to block readers and viewers. Donations are solicited to support the financial cost of our work. Many community members and leaders sponsor different areas of our reporting bringing critical revenue to the organization and engaging the community in our mission.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $40,486 | $74,018 | ▲ $33,532 |
| Rtn Earn Endowment Incm Other Fnds | $58,486 | $70,118 | ▲ $11,632 |
| Accounts Receivable | $18,000 | $6,100 | ▼ $11,900 |
| Savings and Temporary Cash Investments | $0 | $0 | → $0 |
| Other Notes and Loans Receivable, Net | $0 | $0 | → $0 |
| Pledges and Grants Receivable | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Investments in Publicly Traded Securities | $0 | $0 | → $0 |
| Land, Buildings, and Equipment, Net | $0 | $0 | → $0 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Prepaid Expenses and Deferred Charges | $0 | $0 | → $0 |
| Total Assets | $58,486 | $80,118 | ▲ $21,632 |
| Other Assets Total | $0 | $0 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $0 | $10,000 | ▲ $10,000 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Other Liabilities | $0 | $0 | → $0 |
| Deferred Revenue | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $0 | $10,000 | ▲ $10,000 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $58,486 | $70,118 | ▲ $11,632 |
| Total Liabilities and Net Assets / Fund Balance | $58,486 | $80,118 | ▲ $21,632 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Michael Guardabascio | Founder Editor | FT | $70,211 | $70,211 |
| Jeffrey L Fiddler Jr | Founder Editor | FT | $68,608 | $68,608 |
| S Tyler R Hendrickson | Development Director Associate Editor | FT | $64,895 | $64,895 |
Board Members and Trustees
| Name | Title |
|---|---|
| Andrew J Kerr | President Chairperson of the Board |
| Brian Jacob Dunning | Director |
| Dan DeCarlo | Director |
| Dan Gooch | Director |
| Jeffrey Gould | Director |
| Joseph Carlson | Director |
| Marilyn Jean Bohl | Director |
| Natan Bershtel | Director |
| Sharleen Chiyeko Higa | Secretary |
| Ryan Robert Thies | Treasurer Chief Financial Officer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $311,052
- Program Service Revenue
- $29,200
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $311,052
- Change in Net Assets
- $11,633
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $240,463 |
| Other Expenses | $88,156 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Current Officers, Directors, Trustees, and Key Employees | $179,796 | $35,106 | $0 | $214,902 |
| Payroll Taxes | $13,546 | $2,645 | $0 | $16,191 |
| Other Employee Benefits | $9,370 | $0 | $0 | $9,370 |
| Insurance | $0 | $5,069 | $0 | $5,069 |
| Travel | $3,099 | $0 | $0 | $3,099 |
| Fees for Services Accounting | $0 | $2,227 | $0 | $2,227 |
| All Other Expenses | $0 | $1,343 | $0 | $1,343 |
| Other Expenses | $1,180 | $0 | $0 | $1,180 |
| Conferences and Meetings | $0 | $1,066 | $0 | $1,066 |
| Office Expenses | $0 | $1,046 | $0 | $1,046 |
| Fees for Services Other | $0 | $1,007 | $0 | $1,007 |
| Information Technology | $368 | $0 | $0 | $368 |
| Advertising | $0 | $201 | $0 | $201 |
| Total Functional Expenses | $278,909 | $49,710 | $0 | $328,619 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $0 |
| Fundraising Gross Income | $0 |
| Gaming Direct Expenses | $0 |
| Gaming Gross Income | $0 |
| 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 Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Backup withholding compliance
- Yes
- 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
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Part VI, Section B, Line 1
“No material differences between voting members”
Part VI, Line 2
“Sharleen Chiyeko Higa is the spouse of our founder and key employee Michael Guardabascio. Sharleen is an important member of our Board of Directors and provides invaluable leadership and direction for our mission and work. Her experience as a public school educator is extremely valuable to our Board and leadership. Sharleen recuses herself from voting and decision making concerning Mr. Guardabascios employment compensation or benefits.”
Part VI, Line 12C
“Each member of the board of directors is required to annually provide a signed Conflict of Interest Disclosure Form.”
Part VI, Line 15
“Comparisons of compensation for local journalists editors and industry leaders are evaluated each year. Our staff salaries are always below industry average for the duties performed especially when considering experience levels of our employees.”
Part VI, Line 18
“Governing documents conflict of interest policy and financial statements are available to the public. Any member of the community can request these documents and we regularly provide copies of these documents to our funding partners and stakeholders in the community.”
Part VI, Line 19
“Governing documents conflict of interest policy and financial statements are available to the public. Any member of the community can request these documents and we regularly provide copies of these documents to our funding partners and stakeholders in the community.”
Filing and Contact Details
Filer
- Filer Name
- The562 Network Inc
- EIN
- 82-4314833
- In Care Of
- % Andrew J Kerr
- Phone
- 5622341740
- Address
- 5940 E WALTON ST, LONG BEACH, CA 90815-1352
Signing Officer
- Name
- Andrew Kerr
- Title
- President
- Signed
- 2025-05-15
Organization Details
- Formed
- 2018
- Legal Domicile
- CA
- Voting Board Members
- 10
- Independent Board Members
- 10
- Employees
- 3
- Volunteers
- 4
Raw XML AppendixShowing 400 of 738 raw XML fields
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/Desc | 0 | The562 Network is a community funded nonprofit media outlet that covers sports and education in the City of Long Beach with free articles video highlights photo galleries podcasts features previews and more. Founders and editors Mike Guardabascio and JJ Fiddler as well as other staff members visit local high schools and colleges to discuss the future of media and work with aspiring local journalists. Mike Guardabascio has been writing professionally for 17 years. His work has been published in dozens of Southern California magazines and newspapers. Hes won numerous awards and is the author of the book Football in Long Beach and co-author of Basketball in Long Beach. JJ Fiddler is an award-winning professional sportswriter and videographer who has been covering Southern California sports for multiple newspapers and websites since 2004. After attending Long Beach State and creating the first full sports page at the Union Weekly newspaper he has exclusively covered Long Beach sports since 2007. The562 Network covers the schools of Long Beach not just the sports. Everyone in the city is encouraged to utilize this community service to promote their events that support the local youth on and off campus. The562.org has about 150,000 page views each month with approximately 50,000 unique readers per month. Our videos are viewed between 75,000 and 160,000 times per month. Our social media engagements are regularly in the tens of thousand and our daily email newsletter reaches close to 3,000 subscribers. |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 11 | 0 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Jeffrey L Fiddler Jr |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | S Tyler R Hendrickson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Joseph Carlson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Marilyn Jean Bohl |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Brian Jacob Dunning |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Jeffrey Gould |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Andrew J Kerr |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | Ryan Robert Thies |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | Sharleen Chiyeko Higa |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | Dan Gooch |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | Natan Bershtel |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | Dan DeCarlo |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Development Director Associate Editor |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | President Chairperson of the Board |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Treasurer Chief Financial Officer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | Director |
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| IRS990/MissionDesc | 0 | This Corporation is a nonprofit public benefit corporation and is not organized for the private gain of any person. It is organized under the Nonprofit Public Benefit Corporation Law for public purposes. The specific purpose of this Corporation is to be a community-funded nonprofit news organization covering the greater Long Beach area and its students: Writers photographers and videographers cover youth and amateur sports in and around the city. The coverage provides the community with information and the student-athletes with free exposure without the business side of college recruiting services. The Corporation staff also spends time in classrooms with young and aspiring high school and college journalists to help give them the skills to succeed in the professional world. The Corporations website will feature multimedia content and coverage of local sports including articles videos and photographs. |
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| IRS990/OtherExpensesGrp/Desc | 0 | Freelance Photography & Videography |
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| IRS990/OtherExpensesGrp/Desc | 2 | Internship Stipends |
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| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 26000 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 1180 |
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