Overview
What is Long Beach Economic Partnership?
The Long Beach Economic Partnership (LBEP) is a dynamic, collaboration-focused nonprofit organization situated in Long Beach, California. With a mission to foster economic growth and prosperity, LBEP collaborates with both public and private entities. During the pandemic, their efforts were instrumental in supporting small businesses, providing ongoing assistance and financial grants, and offering training, mentoring, and micro-grants. LBEP's action-oriented approach is geared towards creating and accelerating growth opportunities for individuals, businesses, and the city as a whole. Their projects aim to retain existing businesses, attract new ones, and aid in their development and expansion, thereby promoting job creation in Long Beach, California.
Official website here: www.lbep.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, Overall Score: 74%)
The Long Beach Economic Partnership has been rated as needing improvement, achieving a two-star rating with an overall score of 74%. This indicates that while the organization demonstrates strength in certain areas, there are significant gaps in governance and transparency that need to be addressed. Notably, it has a perfect score for its independent board members and the absence of material diversion of assets, indicating strong oversight and financial integrity.
However, the organization faces notable limitations, particularly in its governance policies. It lacks essential policies such as a conflict of interest policy, a whistleblower policy, and guidelines for document retention and destruction, all of which received a score of zero. These shortcomings highlight potential areas of concern regarding accountability and ethical practices within the organization.
In terms of financial management, Long Beach Economic Partnership shows a solid program expense ratio of 68.03%, demonstrating that a significant portion of its funds is directed towards its programs. Nevertheless, the absence of tax forms on its website and other documentation issues further emphasize the need for enhanced transparency and governance practices to improve its overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Long Beach Economic Partnership legitimate?
Long Beach Economic Partnership is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Beach Economic Partnership submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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For more financial information, click here
Official website here: www.lbep.org
What is the mission statement of Long Beach Economic Partnership?
The Long Beach Economic Partnership, an action-oriented organization, is dedicated to fostering economic growth and prosperity. Their mission is to establish partnerships with both private and public entities, aiming to generate and accelerate opportunities for individuals, businesses, and the community as a whole. The partnership promotes, encourages, and enhances the creation of jobs within the city, supporting existing businesses, attracting new ones, and aiding in their development and expansion. The Long Beach Economic Partnership's primary goal is to contribute to the city's economic development and expansion, ultimately benefiting its residents and businesses.
Official website here: www.lbep.org
Who is the CEO of Long Beach Economic Partnership?
Ryan Altoon is the Chair of Long Beach Economic Partnership.
Official website here: www.lbep.org
What is the revenue of Long Beach Economic Partnership?
Long Beach Economic Partnership's revenue in 2022 was $498,200.
Official website here: www.lbep.org
Who are the executives of Long Beach Economic Partnership and what are their salaries?
There 51 volunteers at Long Beach Economic Partnership.
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Official website here: www.lbep.org
Where can I find the form 990 for Long Beach Economic Partnership?
Long Beach Economic Partnership's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lbep.org
Learn more at the official website: www.lbep.org
Mission Statement of Long Beach Economic Partnership
The Long Beach Economic Partnership, an action-oriented organization, is committed to building economic prosperity through strategic collaborations with both private and public entities. Their mission is to foster and accelerate growth opportunities for individuals, businesses, and the city at large. The partnership actively promotes, encourages, and enhances the creation of jobs in Long Beach, California, by aiding in the retention of existing businesses and industries, attracting new ones, and supporting their development and expansion. The Long Beach Economic Partnership serves as a catalyst for economic growth and development, leveraging its partnerships to create a thriving and prosperous community.
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Impact
July, 2024
The Long Beach Economic Partnership has made a significant impact on the local economy by providing ongoing support to small businesses during the pandemic. Through collaborations with organizations such as Wells Fargo, Union Bank, the LBCF, and the city, they have offered assistance and financial grants to help small businesses endure and thrive. Additionally, LBEP has supported small business training, mentoring, and provided micro-grants directly to businesses, contributing to the economic resilience and growth of the Long Beach community.
This information is meant to be a general summary of Long Beach Economic Partnership. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $50,500
- Gross Receipts: $498,200
Assets and Liabilities:
- Total Assets: $458,402
- Total Liabilities: $0
- Net Assets: $458,402
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LONG BEACH ECONOMIC FO
Revenue
$50,500
Organization Details
Founding Year
2014
Phone
(562) 436-4259Principal Officer
Ryan Altoon
Main Address
100 WEST BROADWAY SUITE 120 120, LONG BEACH, CA, 90802
Website
www.lbep.orgNTEE Category
Code: S20 - Community improvement
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