Cycle - Changing Young Childrens Lives Through Education
- Assets
- $374.8k
- Revenue
- $728.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Spring, TX
- Founding
- 03/2004
- Data as of
- 12/2023
- EIN
- 20-0726745
Organization Overview
Cycle - Changing Young Childrens Lives Through Education is located in Spring, TX. The organization was established in 2004. According to its NTEE Classification (P58) the organization is classified as: Gift Distribution, under the broad grouping of Human Services and related organizations. As of 12/2023, Cycle - Changing Young Childrens Lives Through Education employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cycle - Changing Young Childrens Lives Through Education 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 12/2023, Cycle - Changing Young Childrens Lives Through Education generated $728.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 6.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A CHILDREN'S CHARITY DEDICATED TO IMPROVING 2ND GRADE LITERACY AT TITLE ONE SCHOOLS IN THE GREATER HOUSTON AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OCYCLE IS A CHILDREN'S CHARITY COMMITTED TO IMPROVING LITERACY AMONG SECOND GRADE CHILDREN IN TITLE 1 SCHOOLS IN THE GREATER HOUSTON. WE DO THIS BY REWARDING STUDENTS WITH BRAND-NEW BICYCLES AND HELMETS AFTER ACHIEVING DEFINED ACADEMIC GOALS, TEACHING THE IMPORTANT LESSON THAT HARD WORK AND DEDICATION PAY OFF. WE BELIEVE THIS PLACES CHILDREN ON THE PATH TO A BRIGHTER FUTURE. AS SOON AS THE WHEELS START TURNING, IMPRESSIVE THINGS HAPPEN!THE OVERARCHING GOAL OF CYCLE IS TO SEE EVERY STUDENT IN THE GREATER HOUSTON AREA ACHIEVE GRADE-LEVEL READING OR ABOVE BY THE END OF THE THIRD GRADE, PUTTING THEM ON THE PATH TO SUCCESS AND EMPOWERING THEM TO REACH THEIR FULL POTENTIAL IN SCHOOL AND LIFE. IN ADDITION, RESEARCH HAS SHOWN THAT ACHIEVING GRADE-LEVEL LITERACY BY THIRD GRADE IS A KEY DETERMINANT OF FUTURE ACADEMIC SUCCESS. IN FACT, 3RD GRADE READING AND LITERACY SCORES ARE THE BEST PREDICTORS OF FUTURE GRADUATION RATES OR HIGH SCHOOL DROPOUTS. WE INTERVENE WHERE IT MATTERS MOST.IN 2023, CYCLE CONTINUED ITS RETURN TO NORMALCY BY CONDUCTING OUR CUSTOMARY FUNDRAISING PROGRAMS AND EXPANDING THE BUILDING AND DISTRIBUTION OF BICYCLES TO CHILDREN. IN 2023, WE HELD TWO MAJOR BIKE BUILD EVENTS AT NRG CENTER IN HOUSTON, ONE IN JANUARY (INITIALLY PLANNED FOR 2022) RESULTING FROM BIKE SHIPPING DELAYS AND ANOTHER IN DECEMBER 2023. IN JANUARY 2023, 3,785 BIKES WERE BUILT; IN DECEMBER 2023, 6,200 BIKES WERE BUILT AT NRG CENTER. BIKES BUILT AT THE NRG EVENTS ARE ASSEMBLED BY COMPANIES AS PART OF TEAM BUILDING AND BY INDIVIDUALS AND FAMILIES WHO NOT ONLY DONATE THEIR TIME BUT ALSO MONEY TO HELP COVER THE COST OF THE BIKES, HELMETS, AND EVENTS. IN 2023, CYCLE DISTRIBUTED 11,108 BICYCLES TO STUDENTS WHO ACHIEVED THEIR READING AND ACADEMIC COMMITMENTS TO EARN A BIKE.THE YEAR 2024 MARKS THE CHARITY'S 20TH ANNIVERSARY. SPECIAL EVENTS ARE PLANNED TO CELEBRATE THIS MILESTONE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Schneidau President | OfficerTrustee | 6 | $0 |
Lucy Bremond Vice President | OfficerTrustee | 3 | $0 |
Troy Small Secretary | OfficerTrustee | 1 | $0 |
Keith E Kahl Treasurer | OfficerTrustee | 3 | $0 |
Acho Azuike Director | Trustee | 1 | $0 |
Hans Barcus Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $389,150 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $317,542 |
| Noncash contributions included in lines 1a–1f | $123,139 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $706,692 |
| Total Program Service Revenue | $0 |
| Investment income | $13,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,150 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $728,565 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $854,057 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,000 |
| Compensation of current officers, directors, key employees. | $12,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,431 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,445 |
| Office expenses | $27,276 |
| Information technology | $1,744 |
| Royalties | $0 |
| Occupancy | $32,599 |
| Travel | $6,432 |
| 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 | $3,752 |
| All other expenses | $5,996 |
| Total functional expenses | $1,129,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,540 |
| Savings and temporary cash investments | $259,350 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $80,090 |
| Prepaid expenses and deferred charges | $2,821 |
| 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 | $374,801 |
| Accounts payable and accrued expenses | $190 |
| 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 | $190 |
| Net assets without donor restrictions | $374,611 |
| 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 | $374,801 |