Liabilities / Assets
58th percentile
Tied with the lowest-debt nonprofits in its peer group.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
59th percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
63rd percentile
Higher net margin than 63% of similar nonprofits.
Top Officer Pay
95th percentile
Higher top officer pay than 95% of similar nonprofits.
Top officer pay equals 22.8% of source-year revenue.
Asset Growth
94th percentile
Faster asset growth than 94% of similar nonprofits.
Revenue Growth
65th percentile
Faster revenue growth than 65% of similar nonprofits.
Balance Sheet
Assets
Up$58,486
Up $33,422 (+133%) from 2022
Net Assets
Up$58,486
Up $33,422 (+133%) from 2022
Liabilities
Flat$0
Flat from 2022
Revenue And Expenses
Revenue
Up$302,316
Up $48,365 (+19%) from 2022
Expenses
Up$269,393
Up $7,870 (+3.0%) from 2022
Net Income
Up$32,923
Up $40,495 (+535%) from 2022
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2023 to Dec 31, 2023
- Signed
- May 14, 2024
- Return Version
- 2023v5.0
- Gross Receipts
- $302,316
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 | |||
| Rtn Earn Endowment Incm Other Fnds | $25,563 | $58,486 | ▲ $32,923 |
| Cash and Non-Interest-Bearing Accounts | $14,489 | $40,486 | ▲ $25,997 |
| Accounts Receivable | $11,074 | $18,000 | ▲ $6,926 |
| 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 | $25,563 | $58,486 | ▲ $32,923 |
| 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 | $0 | → $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 | $25,563 | $58,486 | ▲ $32,923 |
| Total Liabilities and Net Assets / Fund Balance | $25,563 | $58,486 | ▲ $32,923 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Michael Guardabascio | Founder Editor | FT | $68,992 | $68,992 |
| Jeffrey L Fiddler Jr | Founder Editor | FT | $67,514 | $67,514 |
| S Tyler R Hendrickson | Development Director Associate Editor | FT | $63,861 | $63,861 |
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
- $241,516
- Program Service Revenue
- $60,800
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $241,516
- Change in Net Assets
- $32,923
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $227,112 |
| Other Expenses | $41,081 |
| Grants and Similar Amounts Paid | $1,200 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Current Officers, Directors, Trustees, and Key Employees | $203,257 | $0 | $0 | $203,257 |
| Payroll Taxes | $15,328 | $0 | $0 | $15,328 |
| Other Employee Benefits | $8,527 | $0 | $0 | $8,527 |
| Insurance | $0 | $4,801 | $0 | $4,801 |
| Other Expenses | $1,459 | $0 | $0 | $1,459 |
| Fees for Services Accounting | $0 | $1,334 | $0 | $1,334 |
| Grants to Domestic Orgs | $1,200 | - | - | $1,200 |
| Travel | $0 | $0 | $0 | $790 |
| Information Technology | $703 | $0 | $0 | $703 |
| All Other Expenses | $0 | $685 | $0 | $685 |
| Advertising | $0 | $627 | $0 | $627 |
| Office Expenses | $188 | $0 | $0 | $188 |
| Fees for Services Other | $0 | $49 | $0 | $49 |
| Total Functional Expenses | $261,107 | $7,496 | $0 | $269,393 |
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. Guardabascio's employment compensation or benefits.”
Part VI, Line 11B
“The Board Chair distributed copies of the Form 990 to each voting member of the Board of Directors for approval prior to filing. After approval the Board Chair filed the Form 990 with the IRS he prepared and filed the California Form 199 with the California Franchise Tax Board along with a copy of the Form 990 and filed Form RRF-1 with the California Department of Justice Registry of Charitable Trusts along with a copy of the Form 990.”
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 J Kerr
- Title
- President
- Signed
- 2024-05-14
Organization Details
- Formed
- 2018
- Legal Domicile
- CA
- Voting Board Members
- 10
- Independent Board Members
- 10
- Employees
- 3
- Volunteers
- 0
Supplemental Narrative
Additional Explanations
Part XII, Line 1
“Not applicable”
Part XII, Line 2C
“Not applicable”
Part XI, Line 9
“| Description:, Explanation:, Amount:| Not applicable, Not applicable, $0|”
Raw XML AppendixShowing 400 of 745 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. 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. 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 | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Michael Guardabascio |
| 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/ReportableCompFromOrgAmt | 1 | 67514 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 12 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Founder Editor |
| 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/FormationYr | 0 | 2018 |
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| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | 0 |
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| IRS990/GamingDirectExpensesAmt | 0 | 0 |
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| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
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| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 0 |
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| IRS990/GrantsToOrganizationsInd | 0 | false |
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| IRS990/GrossRentsGrp/RealAmt | 0 | 0 |
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| IRS990/IRPDocumentW2GCnt | 0 | 3 |
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| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 0 |
| IRS990/LegalDomicileStateCd | 0 | CA |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 0 |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 0 |
| IRS990/LessRentalExpensesGrp/PersonalAmt | 0 | 0 |
| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 0 |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembershipDuesAmt | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
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| IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
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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 Corporation's website will feature multimedia content and coverage of local sports including articles videos and photographs. |
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| IRS990/MoreThan5000KToOrgInd | 0 | false |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 58486 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | 0 |
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| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | 0 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncmFromFundraisingEvtGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
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| IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
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| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 0 |
| IRS990/NoListedPersonsCompensatedInd | 0 | X |
| IRS990/NoncashContributionsAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/FundraisingAmt | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 0 |
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| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 188 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 188 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 0 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 0 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 8527 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 8527 |
| IRS990/OtherExpensesGrp/Desc | 0 | Freelance Photography & Videography |
| IRS990/OtherExpensesGrp/Desc | 1 | Freelance Writing & Content |
| IRS990/OtherExpensesGrp/Desc | 2 | Internship Stipends |
| IRS990/OtherExpensesGrp/Desc | 3 | Production Equipment |
| IRS990/OtherExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/FundraisingAmt | 1 | 0 |
| IRS990/OtherExpensesGrp/FundraisingAmt | 2 | 0 |
| IRS990/OtherExpensesGrp/FundraisingAmt | 3 | 0 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 0 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 0 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 0 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 14035 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 9410 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 7000 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 1459 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2023 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $58,486
- Liabilities
- $0
- Net assets
- $58,486
- Revenue
- $302,316
- Expenses
- $269,393
- Net income
- $32,923