Dream Bikes Inc
- Assets
- $385.6k
- Revenue
- $462.9k
- Investments
- $0.0
- Employees
- 44
- Location
- Madison, WI
- Founding
- 03/2008
- Data as of
- 12/2021
- EIN
- 26-0596151
Organization Overview
Dream Bikes Inc is located in Madison, WI. The organization was established in 2008. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Dream Bikes Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dream Bikes 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 12/2021, Dream Bikes Inc generated $462.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $295.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.8%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DREAM BIKES INC'S MISSION IS TO PROVIDE TRAINING AND EMPLOYMENT OPPORTUNITIES FOR UNDERPRIVILEGED AND MINORITY YOUTH, TO PROVIDE ASSISTANCE TO UNDERPRIVILEGED CHILDREN AND YOU, AND TO USE BICYCLES AS A WAY TO HAVE A POSITIVE IMPACT ON LOW INCOME TROUBLED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A RESALE SHOP SELLING STUDENT-REPAIRED BICYCLES, IN WHICH THE YOUTH WILL BE EMPLOYED AND WILL LEARN THE FUNDAMENTALS OF BIKE REPAIR AND RUNNING A SMALL RETAIL BUSINESS
TRAINING IN THE PROPER USE OF HELMETS AND BICYCLE SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Martinez President | Officer | 30 | $65,510 |
Brian Ellison Vice Preside | Officer | 5 | $0 |
Megan Siesennop-Martinez Treasurer | Officer | 5 | $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 | $107,686 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,686 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $264,418 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $462,929 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,773 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,210 |
| Advertising and promotion | $1,052 |
| Office expenses | $8,001 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,108 |
| Travel | $6,403 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $728 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,342 |
| Insurance | $28,764 |
| All other expenses | $13,861 |
| Total functional expenses | $295,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $292,197 |
| Savings and temporary cash investments | $0 |
| 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 | $49,244 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $43,119 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,062 |
| Total assets | $385,622 |
| Accounts payable and accrued expenses | $5,673 |
| 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 | $18,125 |
| Total liabilities | $23,798 |
| Net assets without donor restrictions | $361,824 |
| 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 | $385,622 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Dream Bikes Inc has recieved totaling $14,000.
| Awarding Organization | Amount |
|---|---|
Jennie H Olson Charitable Foundation Inc Madison, WI PURPOSE: PROGRAM SUPPORT | $14,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Transitions Chartered School Minneapolis, MN | $28,235,035 | $63,864,968 |
Four Lakes Education Inc Mcfarland, WI | $19,510,761 | $31,025,737 |
Progressnow Education Lansing, MI | $1,591,280 | $29,411,544 |
College Possible Saint Paul, MN | $23,283,310 | $31,201,183 |
Spencer Foundation Chicago, IL | $670,624,797 | $32,472,140 |
Childrens First Fund The Chicago Public School Foundation Chicago, IL | $26,791,850 | $26,985,163 |
Midwest Dairy Association Saint Paul, MN | $7,228,337 | $23,101,295 |
Lycee Francais De Chicago Inc Chicago, IL | $48,724,560 | $20,322,112 |
Sertoma Centre Inc Alsip, IL | $22,208,490 | $17,472,414 |
Chippewa Luce Macinac Comm Action Human Resource Auth Inc Sault Ste Marie, MI | $6,136,968 | $10,393,284 |
Lac Courte Oreilles Ojibwe School Hayward, WI | $14,755,136 | $9,679,407 |
Illinois Cpa Society Chicago, IL | $13,009,574 | $9,942,006 |