Th@562 Network Inc
- Assets
- $25.1k
- Revenue
- $254.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Long Beach, CA
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 82-4314833
Organization Overview
Th@562 Network Inc is located in Long Beach, CA. The organization was established in 2018. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Th@562 Network Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Th@562 Network Inc 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 12/2022, Th@562 Network Inc generated $254.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $261.5k during the year ending 12/2022. While expenses have increased by 14.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE562 NETWORK IS A COMMUNITY FUNDED AND SUPPORTED NEWS ORGANIZATION SERVING THE CITY OF LONG BEACH CALIFORNIA AND GREATER COMMUNITIES. BY DEVELOPING A SUSTAINABLE NONPROFIT NEWS AGENCY FOR THE LONG BEACH COMMUNITY WE ARE WORKING TO STRENGTHEN LOCAL JOURNALISM IN OUR CITY. OUR FOUNDING JOURNALISTS HAVE MANY YEARS EXPERIENCE IN PRODUCING A HIGH-QUALITY NEWS PRODUCT AND HAVE THE COMMUNITY SUPPORT THE RELATIONSHIP WITH THE SCHOOLS COLLEGES AND UNIVERSITIES IN THE AREA AND THE TEAM AROUND THEM THAT PRODUCES A WELL RESPECTED PUBLIC SERVICE FOR OUR CITY. THE PRODUCTS WE CREATE FOR THE COMMUNITY APPEAR ON OUR WEBSITE WWW.THE562.ORG FOR FREE WITHOUT CHARGE AND WITHOUT "PAY-WALLS" TO BLOCK READERS AND VIEWERS. DONATIONS ARE SOLICITED TO SUPPORT THE FINANCIAL COST OF OUR WORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE562 NETWORK IS A COMMUNITY FUNDED NONPROFIT MEDIA OUTLET THAT COVERS SPORTS AND EDUCATION IN THE CITY OF LONG BEACH WITH FREE ARTICLES VIDEO HIGHLIGHTS PHOTO GALLERIES PODCASTS FEATURES PREVIEWS AND MORE. FOUNDERS AND EDITORS MIKE GUARDABASCIO AND JJ FIDDLER AS WELL AS OTHER STAFF MEMBERS VISIT LOCAL HIGH SCHOOLS AND COLLEGES TO DISCUSS THE FUTURE OF MEDIA AND WORK WITH ASPIRING LOCAL JOURNALISTS. MIKE GUARDABASCIO HAS BEEN WRITING PROFESSIONALLY FOR 16 YEARS. HIS WORK HAS BEEN PUBLISHED IN DOZENS OF SOUTHERN CALIFORNIA MAGAZINES AND NEWSPAPERS. HE'S WON NUMEROUS AWARDS AND IS THE AUTHOR OF THE BOOK FOOTBALL IN LONG BEACH AND CO-AUTHOR OF BASKETBALL IN LONG BEACH. JJ FIDDLER IS AN AWARD-WINNING PROFESSIONAL SPORTSWRITER AND VIDEOGRAPHER WHO HAS BEEN COVERING SOUTHERN CALIFORNIA SPORTS FOR MULTIPLE NEWSPAPERS AND WEBSITES SINCE 2004. AFTER ATTENDING LONG BEACH STATE AND CREATING THE FIRST FULL SPORTS PAGE AT THE UNION WEEKLY NEWSPAPER HE HAS EXCLUSIVELY COVERED LONG BEACH SPORTS SINCE 2007. THE562 NETWORK COVERS THE SCHOOLS OF LONG BEACH NOT JUST THE SPORTS. EVERYONE IN THE CITY IS ENCOURAGED TO UTILIZE THIS COMMUNITY SERVICE TO PROMOTE THEIR EVENTS THAT SUPPORT THE LOCAL YOUTH ON AND OFF CAMPUS. THE562.ORG HAS ABOUT 150,000 PAGE VIEWS EACH MONTH WITH APPROXIMATELY 50,000 UNIQUE READERS PER MONTH. OUR VIDEOS ARE VIEWED BETWEEN 75,000 AND 160,000 TIMES PER MONTH. OUR SOCIAL MEDIA ENGAGEMENTS ARE REGULARLY IN THE TENS OF THOUSAND AND OUR DAILY EMAIL NEWSLETTER REACHES CLOSE TO 3,000 SUBSCRIBERS.
THE562 NETWORK PARTNERED WITH THE LONG BEACH UNIFIED SCHOOL DISTRICT TO WORK WITH HIGH SCHOOL INTERNS SEEKING EXPERIENCE AND KNOWLEDGE ABOUT JOURNALISM AND THE COVERAGE OF COMMUNITY AND YOUTH ATHLETICS. THE562 APPLIED FOR AND RECEIVED GRANT REVENUE TO PROVIDE STIPENDS TO THE INTERNS IN THEIR WORK FOR THE ORGANIZATION AS WELL AS RECEIVED DONATIONS FROM THE COMMUNITY TO SUPPORT THIS MENTORING WORK BY OUR STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Guardabascio Founder Editor | Officer | 40 | $68,303 |
Jeffrey L Fiddler Jr Founder Editor | Officer | 40 | $67,202 |
S Tyler R Hendrickson Development Director Associate Editor | Officer | 40 | $63,312 |
Joseph Carlson Director | Trustee | 2 | $0 |
Marilyn Jean Bohl Director | Trustee | 2 | $0 |
Brian Jacob Dunning Director | 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 | $185,951 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $185,951 |
| Total Program Service Revenue | $68,000 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $253,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $198,817 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,657 |
| Payroll taxes | $15,022 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $702 |
| Office expenses | $186 |
| Information technology | $382 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,793 |
| All other expenses | $163 |
| Total functional expenses | $261,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,490 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,574 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,064 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $25,064 |
| Total liabilities and net assets/fund balances | $25,064 |