Silicon Valley Bicycle Exchange
- Assets
- $937.9k
- Revenue
- $429.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Palo Alto, CA
- Founding
- 12/2013
- Data as of
- 12/2023
- EIN
- 46-1608203
Organization Overview
Silicon Valley Bicycle Exchange is located in Palo Alto, CA. The organization was established in 2013. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Silicon Valley Bicycle Exchange employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Silicon Valley Bicycle Exchange 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, Silicon Valley Bicycle Exchange generated $429.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $259.5k during the year ending 12/2023. While expenses have increased by 19.9% per year over the past 5 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
THE SILICON VALLEY BICYCLE EXCHANGE IS DEDICATED TO SERVING THE COMMUNITY WHILE INSPIRING PEOPLE TO LEARN THE ART OF BICYCLE REPAIR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SILICON VALLEY BICYCLE EXCHANGE DONATED 884 BICYCLES TO CHARITABLE ORGANIZATIONS SUPPORTING CHILDREN, MILITARY VETERANS, AND THE HOMELESS. THE DATES AND RECIPIENTS OF THESE DONATIONS ARE DETAILED ON SCHEDULE O. OVER 400 BIKES WERE REPAIRED AT OFF-SITE EVENTS HELD AT SCHOOLS AND OTHER VENUES. 342 LOCKS, 150 HELMETS, AND 131 LIGHT SETS WERE DONATED.
THE SILICON VALLEY BICYCLE EXCHANGE HAS OPENED A SMALL COMMUNITY BIKE SHOP THAT CIRCULATES INEXPENSIVE, HIGH-QUALITY, GENTLY-USED BICYCLES BACK INTO THE COMMUNITY. THE BICYCLE EXCHANGE SOLD 677 REASONABLY PRICED BICYCLES IN 2021. THE VAST MAJORITY OF THESE BICYCLES ARE REPAIRED BY VOLUNTEERS WHICH GIVES THE VOLUNTEERS THE OPPORTUNITY TO LEARN BICYCLE REPAIR TECHNIQUES. INCOME FROM THE COMMUNITY BIKE SHOP IS USED TO SUPPORT THE EXCHANGES OTHER PROGRAMS SUCH AS BICYCLE DONATIONS AND BICYCLE REPAIR EVENTS.
SILICON VALLEY BICYCLE EXCHANGE PROMOTED BICYCLE REPAIR EDUCATION BY HOSTING 133 SKILLS SHARING EVENTS THAT WERE SUPPORTED BY AND ATTENDED BY 610 VOLUNTEERS, WHO COLLECTIVELY VOLUNTEERED OVER 11,039 HOURS OF THEIR TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David K Fork President And Board Member | OfficerTrustee | 12.5 | $0 |
Lucy Hsu Treasurer And Board Member | OfficerTrustee | 14.9 | $0 |
Roger Conley-Smith Secretary And Board Member | OfficerTrustee | 4.5 | $0 |
Bruce Hildenbrand Board Member | Trustee | 5 | $0 |
Judy Colwell Board Member | Trustee | 4.9 | $0 |
John P Miller Board Member | Trustee | 8.9 | $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 | $112,932 |
| Noncash contributions included in lines 1a–1f | $78,050 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,932 |
| Total Program Service Revenue | $0 |
| Investment income | $17,722 |
| 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 | $298,395 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $429,049 |
| 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 | $173,323 |
| Pension plan accruals and contributions | $5,200 |
| Other employee benefits | $0 |
| Payroll taxes | $13,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,580 |
| Office expenses | $10,200 |
| Information technology | $2,063 |
| Royalties | $0 |
| Occupancy | $2,897 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $8,044 |
| All other expenses | $16,606 |
| Total functional expenses | $259,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,264 |
| 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 | $0 |
| Investments—publicly traded securities | $719,227 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $937,868 |
| Accounts payable and accrued expenses | $13,145 |
| 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 | $13,145 |
| Net assets without donor restrictions | $924,723 |
| 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 | $937,868 |
Grants Awarded
Over the last fiscal year, Silicon Valley Bicycle Exchange has awarded $10,950 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SUNDAY FRIENDS PURPOSE: Operational Support | $5,500 |
ST ANTHONY'S PADUA PURPOSE: Operational Support | $5,450 |