2025-05-01T13:06:30-05:00 2024-06-30 WITHUMSMITHBROWNPC 100 SPECTRUM CENTER DRIVE STE 1000 IRVINE CA 92618 990 2023-07-01 953950515 Foundation for the Long Beach Symphony % SAMUEL BALIMBIN FOUN 5624363203 249 E Ocean Blvd Suite 200 Long Beach CA 90802 Roger Goulette PRESIDENT 9492612808 2025-05-15 true true RICHARD L RUVELSON P00234075 9492612808 2023 2025-03-06 01:10:19Z Roger Goulette 249 E Ocean Blvd200 Long Beach CA 90802 1301989 false X www.lbso.org X 1985 CA TO SUPPORT AND MAINTAIN THE LONG BEACH SYMPHONY ASSOCIATION. 12 12 0 12 0 0 39453 60277 0 0 -14614 49593 0 0 24839 109870 114224 172541 0 0 0 0 0 0 0 26077 53596 140301 226137 -115462 -116267 2753200 2871929 100 100 2753100 2871829 TO SUPPORT AND MAINTAIN THE LONG BEACH SYMPHONY ASSOCIATION. false false 172541 172541 TO DEVELOP AND PROMOTE PUBLIC INTEREST IN THE LONG BEACH SYMPHONY ORCHESTRA AND ITS ACTIVITIES. IN ADDITION, THE FOUNDATION ALSO SOLICITS AND COLLECTS CONTRIBUTIONS TO SUPPORT THE LONG BEACH SYMPHONY ASSOCIATION. 172541 true true false false false false false false false true false false false false false true true false false false false false false false false false false true false false false false false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false false false false false 12 12 false false false false false false false true true false false false false false false false false false CA X SAMUEL BALIMBIN 5624363203 249 E OCEAN BLVD STE 200 LONG BEACH CA 90802 SAMUEL BALIMBIN Vice President of Finance 2.0 40.0 X 0 96425 14692 JOHN BURKHOLDER PRESIDENT 1.0 0.0 X X 0 0 0 JAMES C RICHARDS SECRETARY 1.0 0.0 X X 0 0 0 Margaret Smith Treasurer 1.0 0.0 X X 0 0 0 Brian Buchanan Board Member 1.0 0.0 X 0 0 0 Becky Cool Board Member 1.0 0.0 X 0 0 0 Cindy Costello Board Member 1.0 0.0 X 0 0 0 Roger Goulette Board Member 1.0 0.0 X 0 0 0 John Hancock Board Member 1.0 0.0 X 0 0 0 Paulette Matson Board Member 1.0 0.0 X 0 0 0 Sandor Mayuga Board Member 1.0 0.0 X 0 0 0 Randy Mizer Board Member EFF. 2024 1.0 0.0 X 0 0 0 Anna Salusky Board Member 1.0 0.0 X 0 0 0 0 96425 14692 0 false false false 0 60277 60277 0 85703 85703 0 0 0 0 0 1156009 1192119 -36110 -36110 -36110 0 0 0 0 0 0 0 0 0 0 0 109870 0 49593 X 172541 172541 0 0 0 0 0 0 0 0 0 0 0 13000 13000 0 0 15596 15596 0 25000 25000 0 0 0 0 0 0 0 0 0 0 0 0 226137 172541 53596 0 X 221523 94549 0 0 155098 115099 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2376579 2662281 0 0 0 0 0 0 0 0 2753200 2871929 100 100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 100 100 X 602714 602714 2150386 2269115 2753100 2871829 2753200 2871929 -116267 234996 X false true X true false X X 1 LONG BEACH SYMPHONY ASSOCIATION 956004958 7 true 172541 0 1 172541 true false false false false false false false false false false false false false false true true true X true false SCH. A PART IV, SECTION E, LINES 2A EXPLANATION: THE FOUNDATION FOR THE LONG BEACH SYMPHONY (THE FOUNDATION) IS A CALIFORNIA NONPROFIT CORPORATION THAT OPERATES FOR THE EXCLUSIVE PURPOSE OF SUPPORTING AND MAINTAINING THE LONG BEACH SYMPHONY ASSOCIATION (THE ASSOCIATION). THE ASSETS HELD BY THE FOUNDATION ARE TO BE MANAGED, ADMINISTERED AND EXPENDED FOR THE ASSOCIATION. SCH. A PART IV, SECTION D, LINE 3 EXPLANATION: SEVERAL OF THE MEMBERS OF THE FOUNDATION'S GOVERNING BODY ALSO SERVE ON THE GOVERNING BODY OF THE SUPPORTED ORGANIZATION. THE VICE PRESIDENT OF FINANCE POSITION IS ALSO HELD BY THE SAME PERSON FOR BOTH THE FOUNDATION AND THE SUPPORTED ORGANIZATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2753100 60277 268993 210541 2871829 2683194 39453 155437 124984 2753100 2899269 237940 -343301 110714 2683194 2451709 36521 512472 101433 2899269 2062764 665410 18785 295250 2451709 0.26760 0.58590 0.14650 false false 0 0 X 329270 234996 234996 94274 15596 15596 109870 210541 210541 15596 15596 226137 PART V, LINE 4: The Foundation has adopted investment and spending policies for endowment assets that provide continued financial stability for the Foundation and a revenue stream for spending on the Foundation's mission. Endowment assets include those assets of donor-restricted funds that the Foundation must hold in perpetuity. Under this policy, as approved by the Board of Directors, the endowment assets are invested in a manner that ensures safety through diversification while obtaining a competitive rate of return with the secondary objective to maintain liquidity. The Foundation expects its endowment funds, over time, to provide an average rate of return of approximately CPI plus 4% annually. The Foundation's investment policy includes an endowment spending rate up to 5% of the endowment funds' market value over a rolling three-year average. This spending rate constitutes the Board's annual appropriation for spending endowment earnings. These spending assumptions are intended to allow for the immediate spending of a portion of the income of the portfolio, provide a target rate of return for the Endowment Fund for the Foundation, and provide a sustainable spending level that will allow for support of the Foundation's initiatives in fulfilling its mission, while maintaining the purchasing power of the Endowment Fund's assets. PART X, LINE 2: The Foundation is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code and is generally not subject to federal and state income taxes. However, the Foundation is subject to income taxes on any net income that is derived from a trade or business, regularly carried on, and not in furtherance of the purposes for which it was granted exemption. There were no tax years open to examination by major tax jurisdictions as of June 30, 2024 and 2023. The Foundation does not believe its financial statements include (or reflect) any uncertain tax positions. Further, there are no income tax related penalties and interest included in these financial statements. true LONG BEACH SYMPHONY ASSOCIATION 249 E Ocean Blvd STE 200 LONG BEACH CA 90802 956004958 501(C)(3) 172541 FMV N/A GENERAL SUPPORT 1 0 Part I Description of Procedure for Monitoring Use of Funds THE ORGANIZATION ONLY GIVES GRANTS TO THE LONG BEACH SYMPHONY ASSOCIATION WHICH IS A RELATED ENTITY. THEREFORE, THE ORGANIZATION IS ABLE TO EASILY MONITOR THE USE OF THE GRANTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE VICE PRESIDENT OF FINANCE FOR LBSA, THEN REVIEWED BY THE BOARD PRESIDENT FOR SIGNATURE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR AS COMPARED TO THE PRIOR TAX YEAR. FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL SERVICE FEES TOTAL FEES:25000 LONG BEACH SYMPHONY ASSOCATION 249 E Ocean Blvd STE 200 LONG BEACH CA 90802 956004958 ARTS AND EDU CA 501(C)(3) LINE 7 NA false false true false false false false false false false false false false false false false false false false false LONG BEACH SYMPHONY ASSOCIATION B 172541 FAIR MARKET VAL