Free Bikes 4 Kidz
- Assets
- $1.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 18
- Location
- Eden Prairie, MN
- Founding
- 03/2010
- Data as of
- 12/2021
- EIN
- 27-1199089
Organization Overview
Free Bikes 4 Kidz is located in Eden Prairie, MN. The organization was established in 2010. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2021, Free Bikes 4 Kidz employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Free Bikes 4 Kidz 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, Free Bikes 4 Kidz generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.6% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 27.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
HELPING KIDS RIDE INTO A HAPPIER, HEALTHIER CHILDHOOD BY PROVIDING BIKES TO THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE YEAR 2021 MARKED FB4K MN'S 14TH SEASON. FB4K MN COLLECTED 8,425 BIKES. IN ANOTHER DIFFICULT SEASON DUE TO THE COVID-19 PANDEMIC, FB4K MN STILL MANAGED TO SAFELY ORGANIZE OVER 2,814 UNIQUE COMMUNITY-MINDED VOLUNTEERS WITH VARYING SKILLS TO CLEAN AND REFURBISH 5,698 BIKES. WE DISTRIBUTED 8,070 BIKES IN 2021. MOST OF THESE WERE BIKES COLLECTED IN 2020. WE, THEREFORE, HAVE AN INVENTORY OF 7,414 BIKES TO SAFELY CLEAN, REFURBISH, AND DISTRIBUTE IN THE SPRING OF 2022. WE WILL WORK WITH LOCAL NONPROFIT COMMUNITY PARTNERS THEN TO IDENTIFY AND DISTRIBUTE THESE BIKES TO KIDS IN THE COMMUNITY THAT NEED THEM.
IN FEBRUARY 2019, THE ORGANIZATION ACQUIRED THE RIGHTS TO THE MN IRONMAN BIKE RIDE. THIS LEGENDARY RIDE IS THE LONGEST RUNNING ORGANIZED RIDE IN MINNESOTA. FROM HUMBLE BEGINNINGS IN 1967, MN IRONMAN BIKE RIDE HAS GROWN TO THOUSANDS OF RIDERS PROUDLY RIDING IT ANNUALLY. AFTER A 1-YEAR HIATUS, THE ORGANIZATION RESUMED THE RIDE IN CONJUNCTION WITH A COMMUNITY EVENT IN SHAKOPEE, MN ON JUNE 15, 2019. THE ORGANIZATION EXPECTS THIS EVENT TO BE A PRIMARY FUNDRAISER THROUGH REGISTRATIONS AND PEER TO PEER FUNDRAISING BY THE RIDERSHIP. IN OUR FIRST YEAR, WE HAD 1,209 RIDERS AND PROFITED OVER $23,000. DUE TO THE COVID-19 PANDEMIC, FB4K MN UNFORTUNATELY HAD TO CANCEL THE 2020 RIDE, BUT RETURNED IN 2021 WITH A BREAK EVEN CLOSE. IN 2022, WE EXPECT A RELATIVELY NORMAL EVENT WITH A TARGET OF 2,000 RIDERS AS A KICKOFF TO SUMMER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tia Martinson Mn Executive Director | OfficerTrustee | 40 | $76,385 |
Jeff Lundgren Chair | OfficerTrustee | 4 | $0 |
Maureen Vischer Vice Chair | OfficerTrustee | 4 | $0 |
Matthew Kennedy Treasurer | OfficerTrustee | 8 | $0 |
Dan Swartz Secretary | OfficerTrustee | 4 | $0 |
Fred Borstad Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,048 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,426,336 |
| Noncash contributions included in lines 1a–1f | $1,004,487 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,444,384 |
| Total Program Service Revenue | $0 |
| Investment income | $250 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$13,388 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,437,488 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,193 |
| Grants and other assistance to domestic individuals. | $930,945 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $81,787 |
| Compensation of current officers, directors, key employees. | $4,089 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $122,510 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,543 |
| Payroll taxes | $15,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,933 |
| Advertising and promotion | $12,486 |
| Office expenses | $1,677 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,003 |
| Travel | $407 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,747 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $400 |
| Insurance | $8,036 |
| All other expenses | $4,341 |
| Total functional expenses | $1,287,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $329,014 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $55,469 |
| Accounts receivable, net | $11,634 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $821,328 |
| Prepaid expenses and deferred charges | $2,042 |
| Net Land, buildings, and equipment | $2,990 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,222,477 |
| Accounts payable and accrued expenses | $14,592 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $164,592 |
| Net assets without donor restrictions | $1,057,885 |
| 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 | $1,222,477 |
Grants Awarded
Over the last fiscal year, Free Bikes 4 Kidz has awarded $158,514 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: Bike and helmets to be distributed to children in need. | $61,285 |
Eugene, OR PURPOSE: Bike and helmets to be distributed to children in need. | $55,700 |
Lake Oswego, OR PURPOSE: Bike and helmets to be distributed to children in need. | $28,330 |
Madison, WI PURPOSE: Bike and helmets to be distributed to children in need. | $9,899 |
FREE BIKES 4 KIDZ- UTAH PURPOSE: Bike and helmets to be distributed to children in need. | $3,300 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Free Bikes 4 Kidz has recieved totaling $220,326.
| Awarding Organization | Amount |
|---|---|
Allina Health System Minneapolis, MN PURPOSE: SPONSORSHIP FOR BIKE DISTRIBUTION | $68,760 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $51,000 |
The Specialized Foundation Morgan Hill, CA PURPOSE: TO IMPROVE LIVES OF KIDS WITH LEARNING DIFFERENCES | $30,345 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $24,954 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, HUMAN SERVICES | $21,058 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,471 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Union Gospel Mission Association Of St Paul St Paul, MN | $40,255,655 | $20,223,644 |
Sharing And Caring Hands Inc Minneapolis, MN | $58,635,104 | $16,707,341 |
Community Crisis Services And Food Bank Iowa City, IA | $4,710,995 | $6,794,967 |
People Responding In Social Ministry Golden Valley, MN | $1,368,675 | $5,466,280 |
Unitedhealthcare Childrens Foundation Inc Minneapolis, MN | $12,202,952 | $7,262,493 |
Emergency Community Help Organization Echo Mankato, MN | $2,641,378 | $5,204,945 |
Many Hands For Haiti Pella, IA | $2,649,683 | $5,112,564 |
Everyone Cooperating To Help Others Inc Janesville, WI | $2,299,237 | $4,698,837 |
Intercongregation Communities Association Inc Minnetonka, MN | $4,428,327 | $5,204,363 |
Des Moines Area Religious Council Des Moines, IA | $11,606,342 | $4,920,574 |
The Gospel Mission Sioux City, IA | $5,110,679 | $3,681,546 |
Veterans Airlift Command Minneapolis, MN | $10,791,616 | $4,023,751 |