Civic Intelligence

Long Beach Accelerator Inc.

990 • Fiscal year 2022 • EIN 84-3378272

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 20, 2023

Organization ProfileWWW.LBACCELERATOR.ORG
245 E Third StLong Beach, CA 90802

(310) 990-8524

Siviq Scores

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

Liabilities / Assets

97th percentile

2.02x

Higher debt load relative to assets than 97% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

0.68x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

14th percentile

-33%

Higher net margin than 14% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

99th percentile

$183,877

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 50.3% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

10th percentile

-48%

Faster asset growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

35th percentile

-5.8%

Faster revenue growth than 35% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$123,362

Down $115,400 (-48%) from 2021

Net Assets

Down

-$125,823

Down $122,501 (-3688%) from 2021

Liabilities

Up

$249,185

Up $7,101 (+2.9%) from 2021

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin14th percentile

Revenue

Down

$365,765

Down $22,373 (-5.8%) from 2021

Expenses

Up

$488,266

Up $185,778 (+61%) from 2021

Net Income

Down

-$122,501

Down $208,151 (-243%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2021: $238,762Liabilities 2021: $242,084Net Assets 2021: -$3,3222021Assets 2022: $123,362Liabilities 2022: $249,185Net Assets 2022: -$125,8232022Assets 2023: $107,462Liabilities 2023: $212,568Net Assets 2023: -$105,1062023Assets 2024: $43,220Liabilities 2024: $185,762Net Assets 2024: -$142,5422024

Highlighted filing

2022

Assets$123,362
Liabilities$249,185
Net Assets-$125,823
Open 2022 Filing

Operations Trend

Revenue Growth35th percentile

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

$600K$400K$200K$0-$200KRevenue 2021: $388,138Expenses 2021: $302,488Net Income 2021: $85,6502021Revenue 2022: $365,765Expenses 2022: $488,266Net Income 2022: -$122,5012022Revenue 2023: $415,792Expenses 2023: $395,075Net Income 2023: $20,7172023Revenue 2024: $91,166Expenses 2024: $128,602Net Income 2024: -$37,4362024

Highlighted filing

2022

Revenue$365,765
Expenses$488,266
Net Income-$122,501
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 20, 2023
Return Version
2022v5.0
Gross Receipts
$365,765
Mission and Program Overview

Mission

Long beach accelerator was formed for the purpose of performing all things incidental to, or appropriate in, the achievement of the following specific and primary mission to accelerate early state startups with seed funding, mentorship, and exit strategy. The vision of the long beach accelerator is to make long beach a destination of choice for early stage startups.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$200,000$200,000→ $0
Cash and Non-Interest-Bearing Accounts$67,239$66,066▼ $1,173
Savings and Temporary Cash Investments$139,615$31,895▼ $107,720
Accounts Receivable$29,368$22,668▼ $6,700
Prepaid Expenses and Deferred Charges$2,540$2,733▲ $193
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$238,762$123,362▼ $115,400
Other Assets Total-$0-
Liabilities
Other Liabilities$21,640$27,142▲ $5,502
Accounts Payable and Accrued Expenses$20,444$22,043▲ $1,599
Total Liabilities$242,084$249,185▲ $7,101
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,322$-125,823▼ $122,501
Total Net Assets Fund Balance$-3,322$-125,823▼ $122,501
Total Liabilities and Net Assets / Fund Balance$238,762$123,362▼ $115,400
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrea White-kjossExecutive DirectorFT$135,682$48,195$183,877

Board Members and Trustees

NameTitle
Wade MartinChairman
Michael MoffattVice President
Brenda WunschDirector
Chris HalliwellDirector
Ganesh RamanDirector
Gene FraserDirector
John KeislerDirector
John ShenDirector
Nick SchultzDirector
Payal KamdarDirector
Sue MaloneDirector
Vivian ShimoyamaDirector
Walter LarkinsDirector
Ragan RobertsonSecretary
Santhosh DevatiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$57,500
Program Service Revenue
$308,250
Investment Income
$15
Other Revenue
$0
All Other Contributions
$57,500
Change in Net Assets
$-122,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$371,504
Other Expenses$116,762
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$147,102$36,775-$183,877
Other Salaries and Wages$118,419$29,605-$148,024
Payroll Taxes$18,922$4,730-$23,652
Other Employee Benefits$12,761$3,190-$15,951
Fees for Services Accounting-$14,850-$14,850
Occupancy$11,866$2,966-$14,832
Insurance$7,579$1,895-$9,474
Interest-$5,069-$5,069
Fees for Services Other-$4,000-$4,000
Conferences and Meetings$1,248$1,248-$2,496
All Other Expenses$948$1,433-$2,381
Other Expenses$840$840-$1,680
Office Expenses-$896-$896
Total Functional Expenses$366,893$121,373$0$488,266
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$200,000$200,000→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$22,389
Accrued Interest$4,753
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
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 B, Line 11B

“Form 990 was reviewed by the executive director and treasurer prior to filing with the irs.”

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

“Each member of the board of directors annually reviews the conflict of interest policy, discloses any potential conflicts, and signs their adherence to the policy.”

Form 990, Part VI, Section C, Line 18

“Form 990 is available through www.guidestar.org”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Long Beach Accelerator Inc
EIN
84-3378272
Phone
3109908524
Address
245 E THIRD ST, LONG BEACH, CA 90802

Signing Officer

Name
Wade Martin
Title
Chairman
Signed
2023-10-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wade Martin
Formed
2019
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
11
Employees
5
Volunteers
40

Preparer

Firm
Kevin Wong CPA
Address
301 E foothill blvd ste 202, arcadia, CA 91006
Preparer
Kevin Wong
Phone
6262474339
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
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IRS990/InterestGrp/ManagementAndGeneralAmt05069
IRS990/InterestGrp/TotalAmt05069
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt015
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt015
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt09
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LegalDomicileStateCd0CA
IRS990/LoanOutstandingInd0true
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt0200000
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt0200000
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0false
IRS990/MissionDesc0LONG BEACH ACCELERATOR WAS FORMED FOR THE PURPOSE OF PERFORMING ALL THINGS INCIDENTAL TO, OR APPROPRIATE IN, THE ACHIEVEMENT OF THE FOLLOWING SPECIFIC AND PRIMARY MISSION TO ACCELERATE EARLY STATE STARTUPS WITH SEED FUNDING, MENTORSHIP, AND EXIT STRATEGY. THE VISION OF THE LONG BEACH ACCELERATOR IS TO MAKE LONG BEACH A DESTINATION OF CHOICE FOR EARLY STAGE STARTUPS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0-3322
IRS990/NetAssetsOrFundBalancesEOYAmt0-125823
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-3322
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-125823
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt02966
IRS990/OccupancyGrp/ProgramServicesAmt011866
IRS990/OccupancyGrp/TotalAmt014832
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0896
IRS990/OfficeExpensesGrp/TotalAmt0896
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03190
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012761
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015951
IRS990/OtherExpensesGrp/Desc0PROGRAM COSTS
IRS990/OtherExpensesGrp/Desc1SOFTWARE
IRS990/OtherExpensesGrp/Desc2BAD DEBT
IRS990/OtherExpensesGrp/Desc3TRAVEL MEALS ENTERTAINMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt011376
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12500
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2840
IRS990/OtherExpensesGrp/ProgramServicesAmt047208
IRS990/OtherExpensesGrp/ProgramServicesAmt1840
IRS990/OtherExpensesGrp/TotalAmt047208
IRS990/OtherExpensesGrp/TotalAmt111376
IRS990/OtherExpensesGrp/TotalAmt22500
IRS990/OtherExpensesGrp/TotalAmt31680
IRS990/OtherInd0X
IRS990/OtherLiabilitiesGrp/BOYAmt021640
IRS990/OtherLiabilitiesGrp/EOYAmt027142
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt029605
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0118419
IRS990/OtherSalariesAndWagesGrp/TotalAmt0148024
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04730
IRS990/PayrollTaxesGrp/ProgramServicesAmt018922
IRS990/PayrollTaxesGrp/TotalAmt023652
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02540
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02733
IRS990/PrincipalOfficerNm0WADE MARTIN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1SERVICE FEES
IRS990/ProgramServiceRevenueGrp/Desc2SPONSORSHIPS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0152250
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1120000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt236000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0152250
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1120000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt236000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt059995
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt019
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt054580
IRS990/PYProgramServiceRevenueAmt0328124
IRS990/PYRevenuesLessExpensesAmt085650
IRS990/PYSalariesCompEmpBnftPaidAmt0247908
IRS990/PYTotalExpensesAmt0302488
IRS990/PYTotalRevenueAmt0388138
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-122501
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0272250
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0139615
IRS990/SavingsAndTempCashInvstGrp/EOYAmt031895
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt057500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt050000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0107500
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0272250
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0328124
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02500
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0602874
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt0665374
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt045000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt045000
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt045000
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt045000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0329750

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$123,362
Liabilities
$249,185
Net assets
-$125,823
Revenue
$365,765
Expenses
$488,266
Net income
-$122,501
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.43$1.86$1.43$0.91$1.29$0.37
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.07$2.13$1.05$4.16$3.95$0.21
2022Detailed filing. Detailed filing data is available for this year.$1.23$2.49$1.26$3.66$4.88$1.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$2.42$0.03$3.88$3.02$0.86