Overview
What is Long Beach Accelerator Inc?
Long Beach Accelerator Inc is a nonprofit organization located at 245 E Third St, Long Beach, CA 90802. Their primary mission is to accelerate early-stage startups in the state by providing seed funding, mentorship, and assisting in the development of an exit strategy. The program is structured over a 4-month period, with the first three months focusing on market fit, business strategy, sales and marketing, and the final month dedicated to preparing for Demo Day to secure additional seed funding for continued growth and expansion. The organization aims to make Long Beach a preferred destination for early-stage startups, with a vision to contribute positively to the city's startup ecosystem. They currently employ a team of 5 individuals.
Official website here: www.lbaccelerator.org
Is Long Beach Accelerator Inc legitimate?
Long Beach Accelerator Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Beach Accelerator Inc 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $183,877
Professional Fundraising Fees: $0
Other Salaries and Wages: $148,024
For more financial information, click here
Official website here: www.lbaccelerator.org
What is the mission statement of Long Beach Accelerator Inc?
The Long Beach Accelerator Inc was established with a specific mission to accelerate early-stage startups. This is achieved through providing seed funding, mentorship, and assisting with exit strategies. The organization's vision is to make Long Beach an appealing destination for early-stage startups, aiming to foster a thriving entrepreneurial ecosystem. The Long Beach Accelerator Inc performs various tasks to facilitate this mission, striving to support and grow these startups effectively.
Official website here: www.lbaccelerator.org
Who is the CEO of Long Beach Accelerator Inc?
Wade Martin is the Executive Dir. of Long Beach Accelerator Inc.
Official website here: www.lbaccelerator.org
What is the revenue of Long Beach Accelerator Inc?
Long Beach Accelerator Inc's revenue in 2022 was $365,765.
Official website here: www.lbaccelerator.org
Who are the executives of Long Beach Accelerator Inc and what are their salaries?
The average compensation at Long Beach Accelerator Inc during 2022 was $66,380. There are 5 employees and 40 volunteers at Long Beach Accelerator Inc.
Here are 16 key members and their salaries:
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Official website here: www.lbaccelerator.org
Where can I find the form 990 for Long Beach Accelerator Inc?
Long Beach Accelerator Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lbaccelerator.org
Learn more at the official website: www.lbaccelerator.org
Mission Statement of Long Beach Accelerator Inc
Long Beach Accelerator Inc, a nonprofit organization, was established with a specific mission in mind. Its primary objective is to accelerate early-stage startups by providing them with seed funding, mentorship, and guidance on exit strategies. The vision behind Long Beach Accelerator Inc is to transform Long Beach into a preferred destination for these fledgling businesses. The organization strives to achieve this mission by performing various tasks that are essential or relevant to this objective, thereby contributing to the growth and success of early-stage startups.
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Impact
October, 2024
Long Beach Accelerator Inc significantly impacts the startup ecosystem by providing structured support to early-stage companies through its comprehensive 4-month program. This initiative plays a crucial role in transforming Long Beach into a competitive hub for innovation and entrepreneurship.
The program is divided into two distinct phases. In the first three months, startups benefit from weekly workshops and mentorship that concentrate on critical areas such as market fit, business strategy, and sales and marketing. This hands-on guidance helps nascent companies refine their ideas, develop robust business plans, and establish effective marketing strategies, thereby increasing their chances of success.
The final month shifts focus towards crafting an exit strategy and preparing for a Demo Day, where startups can showcase their progress and secure additional seed funding for growth and expansion. This emphasis on preparing startups for the next phase of investment not only bolsters individual businesses but also enhances the overall economic landscape of Long Beach by fostering a thriving entrepreneurial community.
Through its initiatives, Long Beach Accelerator Inc is not only nurturing startups but also generating job opportunities, encouraging innovation, and promoting economic development in the region. Its vision to make Long Beach a preferred destination for startups underscores its commitment to community improvement and sustainable growth in the local economy.
This information is meant to be a general summary of Long Beach Accelerator Inc. 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.
- Investment Income: $15
- Program Service Revenue: $308,250
- Gross Receipts: $365,765
Assets and Liabilities:
- Total Assets: $123,362
- Total Liabilities: $249,185
- Net Assets: -$125,823
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$152,250
SERVICE FEES
Revenue
$120,000
SPONSORSHIPS
Revenue
$36,000
Organization Details
Founding Year
2019
Phone
(310) 990-8524Principal Officer
Wade Martin
Main Address
245 E THIRD ST, LONG BEACH, CA, 90802
Website
www.lbaccelerator.orgNTEE Category
Code: S30 - Community improvement
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