Forty-Niner Shops Inc
- Assets
- $28.5m
- Revenue
- $21.6m
- Investments
- $796.2k
- Employees
- 703
- Location
- Long Beach, CA
- Founding
- 01/1955
- Data as of
- 06/2024
- EIN
- 95-1782943
Organization Overview
Forty-Niner Shops Inc, operating under the name Beach Shops, is located in Long Beach, CA. The organization was established in 1955. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2024, Beach Shops employed 703 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beach Shops is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Beach Shops generated $21.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $18.7m during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE AND SUPPORT THE EDUCATIONAL PROCESS OF CALIFORNIA STATE UNIVERSITY, LONG BEACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL DINING: BEACH SHOPS OPERATES TWO ON-CAMPUS RESIDENTIAL DINING HALLS, PARKSIDE & HILLSIDE, AND ONE OFF-CAMPUS BEACHSIDE DINING HALL LOCATED JUST A FEW MILES FROM CSULB. EACH FACILITY HAS SIMILAR MENUS THAT ARE BASED ON A 5-WEEK CYCLE AND ARE COMPLIMENTED WITH AN "ALL-YOU-CARE-TO-EAT" HOT-FOOD BAR, DELI AND SALAD BAR, FRESH FRUIT, SOUPS, AND DESSERTS.
CONVENIENCE STORES: THE SHOPS OPERATE 4 CONVENIENCE STORES THAT ARE LOCATED THROUGHOUT THE CAMPUS. THE CONVENIENCE STORES OFFER GRAB'N'GO SANDWICHES, SOUPS, SNACKS, BEVERAGES, OVER THE COUNTER MEDICATION, AND BASIC SCHOOL SUPPLIES. THEY ARE LOCATED AT THE UNIVERSITY STUDENT UNION, BEACH HUT, BOOKSTORE, AND THE OUTPOST.ID CARD SERVICES: THE SHOPS PROVIDE ID CARD SERVICES TO THE CAMPUS. THIS ID CARD ALSO DOUBLES AS A BEACH CLUB DEBIT CARD. STUDENTS CAN PUT MONEY ON THEIR BEACH CLUB CARD TO USE AT CAMPUS EATERIES, COMPUTER LABS, AND RETAIL LOCATIONS. THE BEACH CARD IS ALSO ACCEPTED BY CERTAIN RETAILERS OFF-CAMPUS.
UNIVERSITY BOOKSTORE: WHERE STUDENTS CAN PURCHASE SCHOOL SUPPLIES, LOGO APPAREL, COMPUTERS, COURSE SUPPLIES AND TEXTBOOKS. ART STORE- WHERE STUDENTS CAN FIND EVERYTHING THEY NEED FOR ACADEMIC ART PROJECTS INCLUDING: PHOTOGRAPHY, PAINTING, DRAWING, CERAMICS, PRINT MAKING, AND GENERAL BOOKS.
RETAIL DINING: RETAIL RESTAURANTS ON CAMPUS THAT PROVIDE A WIDE VARIETY OF CUISINES AND BEVERAGE CHOICES INCLUDING: THE NUGGET GRILL & PUB, OUTPOST GRILL, & CAFFEINE LAB.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Harris Board Member | Trustee | 2 | $0 |
John Barcelona Board Member | Trustee | 2 | $0 |
Teresa Falcon Board Member | Trustee | 2 | $0 |
Alvin Tu Board Member | Trustee | 2 | $0 |
Mitali Jain Board Member | Trustee | 2 | $0 |
Virginia Gray Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,459,235 |
| Investment income | $340,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,716 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,582,386 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,590,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $122,870 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $311,795 |
| Compensation of current officers, directors, key employees. | $311,795 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,344,615 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,327,551 |
| Payroll taxes | $549,251 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,281 |
| Fees for services: Other | $1,150,606 |
| Advertising and promotion | $56,341 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $397,224 |
| Travel | $12,348 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,386 |
| Interest | $114,340 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $621,766 |
| Insurance | $267,366 |
| All other expenses | $0 |
| Total functional expenses | $18,650,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,831,079 |
| Savings and temporary cash investments | $4,812,067 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,866,338 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,277,887 |
| Prepaid expenses and deferred charges | $1,908 |
| Net Land, buildings, and equipment | $4,392,437 |
| Investments—publicly traded securities | $10,303,575 |
| Investments—other securities | $796,223 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,172,307 |
| Total assets | $28,453,821 |
| Accounts payable and accrued expenses | $3,172,885 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,006,971 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,336,442 |
| Total liabilities | $12,516,298 |
| Net assets without donor restrictions | $15,937,523 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $28,453,821 |
Grants Awarded
Over the last fiscal year, Forty-Niner Shops Inc has awarded $122,870 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA STATE UNIVERSITY LONG BEACH PURPOSE: DONATED MEALS TO RESIDENCE HALL STAFF. | $68,010 |
CALIFORNIA STATE UNIVERSITY LONG BEACH PURPOSE: DONATION TO CAMPUS | $25,000 |
CALIFORNIA STATE UNIVERSITY LONG BEACH PURPOSE: DONATED BOOKSTORE ITEMS AND FOOD PANTRY ITEMS. | $29,860 |