Bearings Bike Shop Inc

Organization Overview

Bearings Bike Shop Inc, operating under the name Bearings Bike Works, is located in Atlanta, GA. The organization was established in 2012. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 03/2022, Bearings Bike Works employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bearings Bike Works 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 03/2022, Bearings Bike Works generated $973.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $839.2k during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

BEARINGS BIKE SHOP PUTS THE RIGHT TOOLS IN THE HANDS OF YOUTH ENABLING THEM TO ADVANCE THEIR SKILLS TO BUILD PRODUCTIVE LIVES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

BEARINGS' YOUTH PROGRAMS SAW SIGNIFICANT GROWTH AND REBUILDING FROM APRIL 2021 THROUGH MARCH 2022, AS OUR ORGANIZATION AND COMMUNITY REGAINED A SENSE OF NORMALCY FOLLOWING THE PANDEMIC. IN 2021, WE WERE ABLE TO RESUME IN-PERSON PROGRAMMING ACROSS ALL OF OUR YOUTH DEVELOPMENT PROGRAMS DURING THAT TIME AND REBUILD CONNECTIONS WITH KIDS AND FAMILIES IN OUR COMMUNITY.PARTICIPANTS IN OUR SKILLS FOR LIFE AFTER-SCHOOL DROP-IN PROGRAM SPENT OVER 3,000 HOURS LEARNING TO BUILD AND REPAIR BIKES AND DEVELOPING CHARACTER STRENGTHS LIKE PERSEVERANCE AND CONFIDENCE. PARTICIPANTS ADVANCED PROGRAM LEVELS A TOTAL OF 75 TIMES, INDICATING MASTERY OF MECHANICAL SKILLS.GEARING UP, OUR SCHOOL PARTNERSHIP PROGRAM WITH PURPOSE BUILT SCHOOLS ATLANTA, REGAINED MOMENTUM FOLLOWING A PAUSE DURING THE PANDEMIC WHEN SCHOOLS WERE MOSTLY VIRTUAL. 30 STUDENTS FROM ATLANTA SCHOOLS PARTICIPATED IN THE PROGRAM AND HAD THE OPPORTUNITY TO LEARN AND MASTER SKILLS IN A NON-TRADITIONAL SETTING. 100% OF STUDENTS WHO PARTICIPATED IN THE PROGRAM PASSED "STARTING POINT", THE FIRST LEVEL OF OUR MECHANICAL SKILLS CURRICULUM.OUR YOUTH MOUNTAIN BIKING TEAM HAD A SUCCESSFUL FIRST SEASON OF COMPETITION THROUGH THE GEORGIA CYCLING ASSOCIATION'S YOUTH MOUNTAIN BIKING PROGRAM. PROGRAM PARTICIPANTS DEVELOPED TECHNICAL SKILLS ON THE TRAIL AND GREW AS TEAMMATES AND ATHLETES, FINISHING 13 OUT OF 36 TEAMS FROM ACROSS THE STATE IN THEIR DIVISION. THE TEAM COMPETED IN 5 RACES IN THE FALL OF 2021 AND PARTICIPANTS SPENT OVER 100 HOURS RIDING OVER THE COURSE OF THE SEASON. THROUGH THIS EXCITING NEW PROGRAM, WE WERE ABLE TO BUILD PARTNERSHIPS WITHIN THE CYCLING COMMUNITY AND HAVE SEEN STEADILY INCREASING ENTHUSIASM FOR YOUTH MOUNTAIN BIKING WITHIN THE CITY OF ATLANTA. SEVEN TEENS GRADUATED FROM OUR FRAMEWORKS ADVANCED JOB TRAINING PROGRAM IN WHICH THEY LEARNED EMPLOYMENT SKILLS, GAINED WORK EXPERIENCE IN A UNIQUE BIKE SHOP SETTING, AND EXPLORED CAREER PATHWAYS DURING THIS 8-WEEK PAID SUMMER INTERNSHIP. AT THE END OF THE INTERNSHIP, 4 TEENS WERE HIRED ON TO WORK IN A MORE OFFICIAL CAPACITY AS MECHANICS EITHER IN THE YOUTH PROGRAM OR OUR SALES AND SERVICE RETAIL SHOP. FOR 100% OF OUR 2021 PARTICIPANTS, FRAMEWORKS WAS THEIR FIRST EXPOSURE TO THE WORKFORCE, AND THEY WORKED A TOTAL OF 1,660 HOURS WITH 286 OF THOSE HOURS SPENT COACHING IN OUR YOUTH PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Timothy O'mara
Executive Director
$97,000
Stacye Brim
Chairwoman
$0
Evan Longstreth
Treasurer
$0
Melissa Kruse
Secretary
$0
Darryl Lesure
Secretary
$0
Jason Bright
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$73,746
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$679,405
Noncash contributions included in lines 1a–1f $36,927
Total Revenue from Contributions, Gifts, Grants & Similar$753,151
Total Program Service Revenue$66,270
Investment income $29
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $13,966
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $139,613
Miscellaneous Revenue$0
Total Revenue $973,029

Grants Recieved

Over the last fiscal year, we have identified 11 grants that Bearings Bike Shop Inc has recieved totaling $254,887.

Awarding OrganizationAmount
Petters Family Foundation

Newport News, VA

PURPOSE: CAPITAL AND OPERATIONAL SUPPORT

$100,000
$68,000
$30,000
Laureus Sport For Good Foundation Of America

New York, NY

PURPOSE: GENERAL SUPPORT

$20,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$16,552
Thrivent Financial For Lutherans

Minneapolis, MN

PURPOSE: General Support

$8,933
View Grant Recipient Profile

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