Downtown Long Beach Alliance

“Describe the organization's members or stockholders. 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.”

“Describe whether the organization has members, stockholders, or other persons who have the power to elect or appoint one or more members of the governing body. Members in good standing shall have the right to approve or oppose the slate of directors.”

“Has the organization provided a complete copy of this form 990 to all members of its governing body before filing the form? Form is completed by cfo and presented to the full board in the december board meeting.”

“Describe how the organization monitors and enforces compliance with the conflict of interest policy. Every elected official and public employee who makes or influences governmental decisions is required to submit a statement of economic interest, also known as the form 700. Dlba requires this as well. The form 700 provides transparency and ensures accountability in two ways: it provides necessary information to the public about an official's personal financial interests to ensure that officials are making decisions in the best interest of the public and not enhancing their personal finances. It serves as a reminder to the public official of potential conflicts of interest so the official can abstain from making or participating in governmental decisions that are deemed conflicts of interest.”

“Describe the process for determining compensation of the organization's ceo, executive director, or top management official. 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.”

“Describe how the organization make its governing documents, conflict of interest policy, and financial statements available to the public. Documents are posted to the agency's website and in open meetings, as well as with the long beach city council.”

“Describe the management structure of the organization. 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.”

“In march 2020, congress passed the paycheck protection program (ppp), authorizing loans to small business for use in paying employees that they continue to employ throughout the covid-19 pandemic and for rent, utilities, and interest on mortgages. Loans obtained through the ppp are eligible to be forgiven as long as the proceeds are used for qualifying purposes and certain other conditions are met. In march 2021, the company received a loan in the amount of $160,097 through the ppp. In august 2021, the company received notification from the small business administration (sba) that the loan has been forgiven in full, and recognized the income from this loan forgiveness as income on the statements of activities.”

“Provide the detailed information for the amount reported on form 990, part x, line 19 - deferred revenue. 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) $ 594,382 property based improvement district funds (pbid) $ 2,820,592 deferral adjustment (16,359) ____________ $ 2,804,233 as of september 30, 2021, 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 $ 706,040 unallocated pbid from 2018-2021 945,689 reserve for dpbia 114,953 city funds - parking meter 239,854 administration 23,852 marketing and communications 5,600 special events 299 capital improvements 6,203 _________ $ 2,042,490”