Fast Track Cycling
- Assets
- $10.4k
- Revenue
- $19.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chagrin Falls, OH
- Founding
- 06/2008
- Data as of
- 12/2021
- EIN
- 30-0421279
Organization Overview
Fast Track Cycling is located in Chagrin Falls, OH. The organization was established in 2008. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fast Track Cycling 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, Fast Track Cycling generated $19.7k 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 (11.4%) each year. All expenses for the organization totaled $13.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (21.8%) 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
TO RAISE FUNDING FOR AND TO DEVELOP, PROMOTE, AND SUSTAIN THE OPERATIONS OF A VELODROME IN THE CLEVELAND OH REGION. PROMOTE YOUTH CYCLING DEVELOPMENT AND COMMUNITY BASED EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAST TRACK CYCLING OWNS AND OPERATES A VELODROME BIKE TRACK. YOUTH CYCLING IS PROMOTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Litzler President | Officer | 1 | $0 |
Brett Davis Treasurer | Officer | 5 | $0 |
Gary Burkholder Vice President | Officer | 1 | $0 |
Peter Gutierrez Trustee | Trustee | 1 | $0 |
Fred Monago Trustee | Trustee | 1 | $0 |
Matthew Weeks Trustee | Trustee | 1 | $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 | $5,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,900 |
| Total Program Service Revenue | $13,837 |
| 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 | $19,737 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,696 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,769 |
| Travel | $54 |
| 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 | $22 |
| Insurance | $3,090 |
| All other expenses | $0 |
| Total functional expenses | $13,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,708 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,643 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,351 |
| 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 | $10,351 |
| Total liabilities and net assets/fund balances | $10,351 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fast Track Cycling has recieved totaling $10,250.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $10,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Sports Corporation Indianapolis, IN | $18,372,130 | $8,869,621 |
United States Hunter Jumper Association Inc Lexington, KY | $20,251,014 | $9,522,034 |
Indy College Football Playoff Inc Indianapolis, IN | $2,356,063 | $6,670,000 |
The United States Pony Clubs Inc Lexington, KY | $8,497,562 | $2,773,212 |
Louisville Urban League Sports And Learning Complex Inc Louisville, KY | $77,056,765 | $1,676,545 |
American Platform Tennis Association Inc Pittsburgh, PA | $1,547,528 | $1,984,678 |
Livonia Civic Arenas Inc Livonia, MI | $814,665 | $1,368,082 |
National Muzzle Loading Rifle Association Friendship, IN | $3,274,556 | $1,611,305 |
West Virginia Golf Association Charleston, WV | $499,772 | $1,388,651 |
Columbus Marathon Columbus, OH | $235,659 | $1,100,044 |
United States Bowling Congress Inc Grandville, MI | $852,759 | $721,706 |
Pittsburgh Elite Volleyball Association Pittsburgh, PA | $538,474 | $1,020,631 |