FORTY-NINER SHOPS INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1953

Legal Domicile

Principal Officer

MILES NEVIN

Phone

5629855093

Tax Period

2023-07-01 to 2024-06-30

FORTY-NINER SHOPS INC, founded in 1953, is a mid-sized nonprofit in the Education sector that reported $21.6M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $18.7M left a modest 14% surplus.

Mission

BEACH SHOPS' MISSION IS TO ENHANCE AND SUPPORT THE EDUCATIONAL PROCESS OF CALIFORNIA STATE UNIVERSITY, LONG BEACH BY PROVIDING THE GOODS AND SERVICES TO PROMOTE A LEARNING COMMUNITY; BY TRAINING STUDENT EMPLOYEES WITH LIFE AND CAREER SKILLS; AND BY FUNDING SCHOLARSHIPS, INTERNSHIPS AND OTHER PROGRAMS THAT PROMOTE STUDENT SUCCESS.

Program Service Accomplishments

Program 1

Expenses: $6,534,103 Revenue: $11,197,105

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.

Program 2

Expenses: $4,348,445 Revenue: $6,284,437

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...

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.

Program 3

Expenses: $3,274,156 Revenue: $2,155,375

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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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,459,235

Investment Income $332,704

Other Revenue $18,798,866

TOTAL REVENUE $21,590,805

Expense Breakdown

Grants Paid $122,870

Salaries & Benefits $12,533,212

Fundraising Expenses $0

Program Expenses $15,416,229

Other Expenses $5,993,925

TOTAL EXPENSES $18,650,007

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,590,805	$19,384,295	+0.1%
Expenses	$18,650,007	$18,222,175	+0.0%
Net Income	$2,940,798	$1,162,120	+1.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

703

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$620,581

Total Directors

$1,505,602

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEREMY HARRIS	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN BARCELONA	BOARD MEMBER	2.00	Director	$0	$0	$0
TERESA FALCON	BOARD MEMBER	2.00	Director	$0	$0	$0
ALVIN TU	BOARD MEMBER	2.00	Director	$0	$0	$0
MITALI JAIN	BOARD MEMBER	2.00	Director	$0	$0	$0
VIRGINIA GRAY	BOARD MEMBER	2.00	Director	$0	$59,954	$193,014
PRAVEEN SONI	BOARD MEMBER	2.00	Director	$0	$45,065	$224,584
MILTON ORDONEZ	BOARD MEMBER	2.00	Director	$0	$72,872	$291,602
BETH LESEN	VICE CHAIR	2.00	Director	$0	$116,165	$395,459
SCOTT APEL	CHAIR	2.00	Officer Director	$0	$127,053	$400,943
GORDON COPLEY	CHIEF FINANCIAL OFFICER	20.00	Officer	$179,807	$39,831	$219,638
MILES NEVIN	EXECUTIVE DIRECTOR	20.00	Officer	$0	$0	$0
CLINT CAMPBELL	ASSOCIATE EXECUTIVE DIRECT	40.00	Highest	$172,356	$32,662	$205,018
CYNTHIA FARRINGTON	DIVISION DIRECTOR	40.00	Highest	$143,700	$30,656	$174,356
ROSA HENDERSON	ASSOCIATE EXECUTIVE DIRECT	20.00	Highest	$172,356	$33,286	$205,642
ALFREDO MACIAS	DIVISION DIRECTOR	40.00	Highest	$129,398	$38,717	$168,115
MAJID ZAHEDI	ASSOCIATE DIRECTOR	20.00	Highest	$126,116	$23,821	$149,937

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$21,590,805	$18,650,007	$28,453,821	$2,940,798
2023	$19,384,295	$18,222,175	$23,862,338	$1,162,120
2022	$18,721,159	$16,685,246	$22,900,172	$2,035,913
2021	$8,522,997	$10,928,500	$24,165,154	$-2,405,503
2020	$17,572,318	$20,103,377	$25,648,289	$-2,531,059
2019	$23,162,654	$21,535,143	$25,665,041	$1,627,511