Downtown Long Beach Alliance

“One class of membership of the organization from within the city of long beach consists of members who represent licensed or non-licensed persons, firms, corporations, organizations, or professionals.”

“Members in good standing shall have the right to approve or oppose the slate of directors.”

“The ceo and certain board members review the form 990 and distribute a final filing copy to all board members for review and approval before it is filed.”

“The conflict of interest policy is reviewed and distributed annually to all board members. They are required to report a conflict of interest issue, if any. In the event of a conflict of interest, the board will take appropriate action, which may include having the member(s) recuse themselves of any related discussions and from voting on related issues.”

“The executive committee is responsible for evaluating compensation based on survey data of comparable positions. The board will do a final approval as well as approving personnel costs in its annual approval of the budget. The compensation committee will review the president/ceo's compensation independently, without the participation of the interested party.”

“The annual report and bylaws are made available on the organization's website. The form 1023, form 990, and other governing documents are available upon request at the organization's headquarters.”

“Kraig kojian is both the top management and top financial officer within the organization. The entity employs a bookkeeper for the day to day accounting responsibilities.”

“The form 990 balance sheet is reflective of the audited financial statements. Deferred revenue is recognized on contract revenue in excess of expenditures and is recorded as an increase (or decrease) of current year contract revenue. Revenue reported consists of the following: downtown parking and business improvement area funds (dpbia) $ 716,160 property based improvement district funds (pbid) $ 2,686,818 deferral adjustment (417,677) ____________ $ 2,269,141 as of september 30, 2020, deferred revenue represents funds required to be reserved by contract or that are designated by the board of directors for future projects should the contract with the city be discontinued as follows: three-month reserve for pbid contract $ 525,534 unallocated pbid from 2019-2020 898,393 reserve for dpbia 187,452 city funds - parking meter 239,854 administration 33,570 marketing and communications 5,600 special events 298 ees and woba 60,000 capital improvements 101,442 _________ $ 2,052,143”