Civic Intelligence

The562 Network Inc

990 • Fiscal year 2018 • EIN 82-4314833

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

5940 E Walton StLong Beach, CA 90815

(562) 361-1349

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

86th percentile

34%

Higher net margin than 86% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

94th percentile

$56,500

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 28.1% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Assets

$67,502

No earlier filing loaded for comparison.

Net Assets

$67,502

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$201,332

No earlier filing loaded for comparison.

Expenses

$133,830

No earlier filing loaded for comparison.

Net Income

$67,502

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$100K$50K$0Assets 2018: $67,502Liabilities 2018: $0Net Assets 2018: $67,5022018Assets 2019: $47,459Liabilities 2019: $0Net Assets 2019: $47,4592019Assets 2020: $40,561Liabilities 2020: $22,936Net Assets 2020: $17,6252020Assets 2021: $32,635Liabilities 2021: $0Net Assets 2021: $32,6352021Assets 2022: $25,064Liabilities 2022: $0Net Assets 2022: $25,0642022Assets 2023: $58,486Liabilities 2023: $0Net Assets 2023: $58,4862023Assets 2024: $80,118Liabilities 2024: $10,000Net Assets 2024: $70,1182024

Highlighted filing

2018

Assets$67,502
Liabilities$0
Net Assets$67,502

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2018: $201,332Expenses 2018: $133,830Net Income 2018: $67,5022018Revenue 2019: $140,163Expenses 2019: $160,206Net Income 2019: -$20,0432019Revenue 2020: $182,953Expenses 2020: $212,787Net Income 2020: -$29,8342020Revenue 2021: $251,212Expenses 2021: $236,202Net Income 2021: $15,0102021Revenue 2022: $253,951Expenses 2022: $261,523Net Income 2022: -$7,5722022Revenue 2023: $302,316Expenses 2023: $269,393Net Income 2023: $32,9232023Revenue 2024: $340,252Expenses 2024: $328,619Net Income 2024: $11,6332024

Highlighted filing

2018

Revenue$201,332
Expenses$133,830
Net Income$67,502
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.0
Gross Receipts
$201,332
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 new, community funded and supported news organization serving the city of Long Beach, California. We incorporated in the State of California on February 6, 2018 as a Nonprofit Public Benefit Corporation. By developing a sustainable, nonprofit news agency for the Long Beach community, we believe we can begin to reverse the degradation of local journalism in our city. Our founding journalists have many years experience in producing a high-quality news product, the community support, the relationship with the schools, colleges and universities in the area, and the team around them to create a successful 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$67,502▲ $67,502
Cash and Non-Interest-Bearing Accounts$0$66,002▲ $66,002
Pledges and Grants Receivable$0$1,500▲ $1,500
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$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--
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$0$67,502▲ $67,502
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
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--
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$67,502▲ $67,502
Total Liabilities and Net Assets / Fund Balance$0$67,502▲ $67,502
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey L Fiddler JrFounder/EditorFT$56,500$56,500
Michael GuardabascioFounder/EditorFT$56,500$56,500

Board Members and Trustees

NameTitle
Andrew Jefferson KerrPresident/Chairperson of the Board
Brian Jacob DunningDirector
Jeffrey GouldDirector
Joseph CarlsonDirector
Marilyn Jean BohlDirector
S Tyler Roth HendricksonDirector
Sharleen Chiyeko HigaSecretary
Ryan Robert ThiesTreasurer/Chief Financial Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$162,232
Program Service Revenue
$39,100
Investment Income
$0
Other Revenue
$0
All Other Contributions
$162,232
Change in Net Assets
$67,502
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$118,163
Other Expenses$15,667
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$113,000$0$0$113,000
Fees for Services Other$6,550$0$0$6,550
Payroll Taxes$5,163$0$0$5,163
Insurance$4,865$0$0$4,865
All Other Expenses$1,706$0$0$1,706
Information Technology$992$0$0$992
Office Expenses$732$0$0$732
Travel$402$0$0$402
Fees for Services Accounting$255$0$0$255
Advertising$165$0$0$165
Total Functional Expenses$133,830$0$0$133,830
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising 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 ItemBeginningEndChange
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 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

Form 990, Part VI, Section A, 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 our leadership. Sharleen recuses herself from voting and decision making concerning Mr. Guardabascio's employment and compensation.

Form 990, Part VI, Section B, Line 11B

President/Chairperson provided a copy of the draft 990 to all members of the board of directors for review prior to filing. Members of the board provided their consent and approval to file the final draft on a unanimous vote.

Form 990, Part VI, Section B, Line 12C

The Board of Directors annually provides a signed Conflict of Interest Disclosure Form

Form 990, Part VI, Section C, Line 19

The President/Chairperson of the Board maintains close contact with community stakeholders throughout the year and makes corporate documents, procedures and records available to all stakeholders upon request.

Filing and Contact Details

Filer

Filer Name
The562 Network Inc
EIN
82-4314833
Phone
5623611349
Address
5940 E Walton St, Long Beach, CA 90815

Signing Officer

Name
Andrew Kerr
Title
President
Phone
5623611349
Signed
2019-11-13

Organization Details

Principal Officer
Andrew Jefferson Kerr
Formed
2018
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
7
Employees
2
Volunteers
8
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IRS990/ActivityOrMissionDesc0The562 Network is a new, community funded and supported news organization serving the city of Long Beach, California. We incorporated in the State of California on February 6, 2018 as a Nonprofit Public Benefit Corporation. By developing a sustainable, nonprofit news agency for the Long Beach community, we believe we can begin to reverse the degradation of local journalism in our city. Our founding journalists have many years experience in producing a high-quality news product, the community support, the relationship with the schools, colleges and universities in the area, and the team around them to create a successful 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.
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IRS990/Desc0The562 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 also 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 15 years. His work has been published in dozens of Southern California magazines and newspapers. He's 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. In the first year of existence The562 Network has... * welcomed over 90,000 visitors to the website. * posted more than 1,500 stories about every school in Long Beach. * produced 365 video highlights from games, events and memorable moments. * featured over 8,000 pictures taken by professional photographers of athletes at all levels, from middle school to college. * created the only local sports section in print and the only local news podcasts every week. * delivered our daily email newsletter to more than 3,000 subscribers.
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IRS990/InformationTechnologyGrp/ProgramServicesAmt0992
IRS990/InformationTechnologyGrp/TotalAmt0992
IRS990/InitialReturnInd0X
IRS990/InsuranceGrp/FundraisingAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt00
IRS990/InsuranceGrp/ProgramServicesAmt04865
IRS990/InsuranceGrp/TotalAmt04865
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt00
IRS990/InterestGrp/ProgramServicesAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt05
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LegalDomicileStateCd0CA
IRS990/LoanOutstandingInd00
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0This 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt00
IRS990/NetAssetsOrFundBalancesEOYAmt067502
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt00
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt0732
IRS990/OfficeExpensesGrp/TotalAmt0732
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt05163
IRS990/PayrollTaxesGrp/TotalAmt05163
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01500
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Andrew Jefferson Kerr
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0519110
IRS990/ProgramServiceRevenueGrp/Desc0Reporting partnership revenue
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt039100
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt039100
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt00
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt00
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt00
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt067502
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0201332
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt067502
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt00

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