Free Bikes 4 Kidz
- Assets
- $332.3k
- Revenue
- $482.5k
- Investments
- $0.0
- Employees
- 18
- Location
- Plymouth, MN
- Founding
- 03/2010
- Data as of
- 12/2023
- EIN
- 27-1199089
Organization Overview
Free Bikes 4 Kidz is located in Plymouth, 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 12/2023, 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 12/2023, Free Bikes 4 Kidz generated $482.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $506.3k during the year ending 12/2023. While expenses have increased by 9.1% per year over the past 9 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
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
IN 2023, WE CONTINUED OUR MISSION TO PROVIDE BIKES TO CHILDREN MOST IN NEED. THROUGH CONCERTED EFFORTS, WE RALLIED THE COMMUNITY TO DONATE GENTLY USED BIKES AND THEN ORGANIZED THOUSANDS OF VOLUNTEERS TO CLEAN AND REFURBISH THEM. THIS YEAR, WE WERE ABLE TO WORK WITH OUR COMMUNITY PARTNERS TO DISTRIBUTE 2,395 BIKES TO YOUTH ACROSS MINNESOTA, WHILE ALSO ENSURING THAT KIDS HAD NEW HELMETS TO RIDE THEIR BIKES WITH.
IN FEBRUARY 2019, THE ORGANIZATION ACQUIRED THE RIGHTS TO THE MN IRONMAN BIKE RIDE. THE 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. THE ORGANIZATION RESUMED THE RIDE IN CONJUNCTION WITH COMMUNITY EVENT IN SHAKOPEE, MN IN 2023 ON JUNE 17, 2023. THIS EVENT WAS THE PRIMARY FUNDRAISER FOR THE YEAR THROUGH REGISTRATIONS AND DONATIONS IT PROFITED OVER $20,000. IN 2024, WE WILL BE REBRANDING THE EVENT TO THE FREEBIKE AND HOLDING THE EVENT ON JUNE 1ST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Swartz Co-Chair | OfficerTrustee | 4 | $0 |
Jeff Lundgren Co-Chair | Trustee | 4 | $0 |
Matthew Kennedy Treasurer | OfficerTrustee | 8 | $0 |
Gretchen Graham Secretary | Trustee | 1 | $0 |
Maureen Vischer Board Member | OfficerTrustee | 4 | $0 |
David Rulifson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $42,918 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $456,684 |
| Noncash contributions included in lines 1a–1f | $239,210 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $499,602 |
| Total Program Service Revenue | $0 |
| Investment income | $4,474 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$21,615 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $482,461 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,497 |
| Grants and other assistance to domestic individuals. | $242,797 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,135 |
| Compensation of current officers, directors, key employees. | $5,408 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,680 |
| Pension plan accruals and contributions | $136 |
| Other employee benefits | $1,466 |
| Payroll taxes | $12,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,693 |
| Advertising and promotion | $11,100 |
| Office expenses | $1,513 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,162 |
| Travel | $298 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,338 |
| Insurance | $7,914 |
| All other expenses | $0 |
| Total functional expenses | $506,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,554 |
| Savings and temporary cash investments | $137,712 |
| Pledges and grants receivable | $11,549 |
| Accounts receivable, net | $476 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $93,652 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,313 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $332,256 |
| Accounts payable and accrued expenses | $15,014 |
| Grants payable | $0 |
| Deferred revenue | $25,500 |
| 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 | $190,514 |
| Net assets without donor restrictions | $141,742 |
| 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 | $332,256 |
Grants Awarded
Over the last fiscal year, Free Bikes 4 Kidz has awarded $158,514 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
FREE BIKES 4 KIDZ OF ATLANTA CO PURPOSE: Bike and helmets to be distributed to children in need. | $61,285 |
FREE BIKES 4 KIDZ MADISON INC 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 |
FREE BIKES 4 KIDZ PORTLAND PURPOSE: Bike and helmets to be distributed to children in need. | $28,330 |
FREE BIKES 4 KIDZ EUGENE-SPRINGFIELD PURPOSE: Bike and helmets to be distributed to children in need. | $55,700 |