Long Beach Forward Inc

Analysis

Long Beach Forward Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in August 2021, 5 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Long Beach Forward Inc reported income of $718k and spending of $2.0m, spending 280% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $2.8m to $718k (-74%), an average of -74% a year. The sharpest change came in the year to December 2023, when income dropped by 74%. 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 Forward Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include The Lincoln Park Society ($717k), Linn County Fair Association ($718k) and Junior League of San Francisco Inc ($717k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 6.4% of the total. Compensation of current officers, directors and key employees was $83k (4.1% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $296k against liabilities of $321k, net assets of -$24k. It reported 21 employees.