Long Beach Economic Partnership
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- Only 50% of its spending went to programs.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
LBEP'S MISSION IS TO BUILD ECONOMIC PROSPERITY THROUGH PARTNERSHIPS WITH BOTH PRIVATE AND PUBLIC ENTITIES, TO CREATE AND ACCELERATE GROWTH OPPORTUNITIES FOR INDIVIDUALS, BUSINESSES, AND THE CITY AT LARGE. LBEP PROMOTES, ENCOURAGES AND ENHANCES THE CREATION OF JOBS IN THE CITY OF LONG BEACH, CALIFORNIA THROUGH PROJECTS THAT ASSIST IN THE RETENTION OF EXISTING BUSINESSES/INDUSTRIES, THE ATTRACTION OF NEW BUSINESSES/INDUSTRIES AND BY AIDING THEIR DEVELOPMENT AND GROWTH.
- Income
- $610,743
- Spending
- $757,797
- Spent on programs
- 50%
- Reserves
- 0.4 months of spending
- Largest source of income
- government grants, 64%
- Employees
- 0
- Volunteers
- 25
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 29 out of 100. Higher than 4% of charities in its peer group (community improvement, $250k to $1m).
Reserves
4 of 35Spendable reserves would cover 0.4 months of spending.
Debt
10 of 20It owes 34% of what it owns.
Living within its means
0 of 15Spending exceeded income by 24% of income.
Income trend
15 of 15Income rose 56% on the year before.
Spending floor
0 of 1550% of spending went to programs and raising each dollar of donations cost 3 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Fair: 59 out of 100. Higher than 24% of charities in its peer group (community improvement, $250k to $1m).
Independent board
25 of 2525 of 25 voting board members are independent.
Conflict of interest policy
0 of 15Reports no written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $251,806 spent. GENERAL PROGRAM - EACH YEAR, LBEP APPLIES FOR GRANTS TO SUPPORT ITS WORK. IN 2024, LBEP SUCCESSFULLY APPLIED FOR THE FOLLOWING PROGRAM GRANTS: VERIZON / $10,000, US BANK / $25,000, BANK OF AMERICA / $30,000, HSBC / $5,000, WELLS FARGO / $15,000, LA COUNTY SUPERVISOR HAHN / $5,000, BENEVITY AIR PRODUCTS / $10,000. THESE FUNDS, ALONG WITH MEMBER CONTRIBUTIONS (APPROXIMATELY $6,000), ARE DISTRIBUTED TOWARDS ACTIVITIES WHICH SUPPORT BUSINESS AND ECONOMIC GROWTH. THESE ACTIVITIES INCLUDE RESEARCH INCLUDING DATA THAT INFORMS BUSINESS DECISIONS RELATED TO INVESTMENT, WORKFORCE AND BUSINESS RETENTION WITHIN THE CITY OF LONG BEACH. EVENTS INCLUDING THE LONG BEACH ECONOMIC FORUM WHICH PROVIDES ECONOMIC OUTLOOK AND ANALYSIS TO SUPPORT BUSINESS DECISIONS AND GROWTH STRATEGIES. THE ANNUAL SITE SELECTORS CONFERENCE, WHICH PROVIDES PROPERTY DEVELOPERS AND COMMERCIAL REAL ESTATE BROKERS, AMONG OTHERS, TO PROMOTE INVESTMENT AND LOCATION OPPORTUNITIES WITHIN THE CITY OF LONG BEACH, AS WELL AS MEETINGS, SEMINARS, AND DISCUSSIONS RELATED TO DOMESTIC AND INTERNATIONAL BUSINESS EXPERTISE AND INSIGHTS.
- $100,000 spent. THE WORLD TRADE CENTER LONG BEACH (WTCLB) SERVES THE BUSINESS COMMUNITY BY PROVIDING INFORMATION RELATED TO INTERNATIONAL BUSINESS AND GLOBAL TRADE. WTCLB SITS AS A SUBSIDIARY OF LBEP AND IS FUNDED THROUGH THE PORT OF LONG BEACH, THE PARTNER TO LBEP IN THIS ENDEAVOR. WTCLB HOSTED OR PARTICIPATED IN SEVERAL ACTIVITIES WHICH BROUGHT INFORMATION AND EXPERT INSIGHTS ABOUT INTERNATIONAL BUSINESS TO THE CITY OF LONG BEACH. THESE INCLUDED PANEL DISCUSSIONS REGARDING TRADE WITH FOREIGN NATIONS, HOSTING SELECT LA AN EVENT REGARDING FOREIGN DIRECT INVESTMENT (FDI) AND PARTICIPATION IN WORLD TRADE WEEK (WTW) AN ANNUAL EVENT HOSTED IN LONG BEACH FOR THE FIRST TIME IN 2024, CELEBRATING THE IMPACT OF GLOBAL TRADE. IN ADDITION, WTCLB DRAFTED A COMPREHENSIVE STUDY ON FOREIGN OWNED ENTERPRISES (FOE) AND FDI WITHIN THE CITY OF LONG BEACH AND SUPPORTED THE SITE SELECTORS EVENT BY HIGHLIGHTING FOREIGN INVESTMENT IN THE CITY.
- $25,000 spent. LBEP LED THE "LAUNCH BEACH COALITION" WHICH IS A WORKING GROUP MADE UP OF KEY STAKEHOLDERS IN THE SERVICE OF ATTRACTING TECH STARTUPS TO LONG BEACH. IN ADDITION, THE GROUP SEEKS TO CREATE AN ENVIRONMENT WITHIN THE CITY THAT FOSTERS STARTUP GROWTH AND INVESTMENT. THE STAKEHOLDERS INCLUDE LBEP, SUNSTONE, LONG BEACH ACCELERATOR, IMPRINT VENTURES, CSULB CENTER FOR ENTREPRENEURSHIP AND INNOVATION AND THE CITY OF LONG BEACH ECONOMIC DEVELOPMENT DEPARTMENT. THE COALITION MEMBERS ARE PROVIDED FUNDING OF $25,000 FROM SUNSTONE. TOGETHER THE COALITION HAS HELD REGULAR MEETINGS TO DETERMINE THE FOLLOWING: ESTABLISHMENT OF A WORK SPACE ENVIRONMENT, CURATING OF SPEAKERS AND EXPERTS IN THE TECH STARTUP SPACE, VENTURE CAPTIAL ATTRACTION, INTRODUCTIONS AND INVESTMENT, HOSTING OF PANEL DISCUSSIONS, MEETUPS AND OTHER OPPORTUNITIES TO PROVIDE STARTUP ENGAGEMENT AND INTERACTION. AS PART OF THIS EFFORT, SOME OF THE COALITION MEMBERS WORKED DIRECTLY WITH THE CITY'S ECONOMIC DEVELOPMENT DEPARTMENT TO IDENTIFY FUNDING OPPORTUNITIES TO EXPAND ON THE WORK OF THE COALITION. THE GROUP ALSO HELD REGULAR MEETINGS AND OPPORTUNITIES FOR THE WIDER PUBLIC TO MEET AND LEARN MORE ABOUT THE COALITION AND JOIN THE COLLABORATION. LBEP HOSTED INFORMATION ABOUT THE COALITION ON ITS WEBSITE AND PROVIDED AN INTAKE FORM WHICH GENERATED CONTACTS INTERESTED IN LEARNING MORE, WHICH WERE THEN PROVIDED TO THE GROUP.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Worth knowing.
Status was revoked on February 15, 2014 for not filing returns for three years. The IRS now lists it as tax-exempt again.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since September 2014.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.