Long Beach Accelerator Inc

Analysis

Long Beach Accelerator Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Long Beach Accelerator Inc reported income of $416k and spending of $395k, spending 95% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $388k to $416k (+7.1%), an average of +3.5% a year. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Long Beach Accelerator Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 69th percentile within CA. Charities of a similar size with the same main cause include Downtown Management Corporation of Ft Myers Florida Inc ($416k), Appellate Judges Education Institute ($416k) and National Coalition of 100 Black Women Inc Metropolitan Atlanta CH ($415k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $170k (43% of expenses). Other salaries and wages came to $93k. At year end it held assets of $107k against liabilities of $213k, net assets of -$105k. It reported 4 employees.