Velocipede Bike Project
- Assets
- $155.2k
- Revenue
- $93.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 09/2009
- Data as of
- 06/2024
- EIN
- 76-0813009
Organization Overview
Velocipede Bike Project is located in Baltimore, MD. The organization was established in 2009. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., 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. Velocipede Bike Project 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 06/2024, Velocipede Bike Project generated $93.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 33.1% each year . All expenses for the organization totaled $66.2k during the year ending 06/2024. While expenses have increased by 19.7% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
VELOCIPEDE BIKE PROJECT, INC. PROVIDES ACCESS TO SECOND-HAND BICYCLES AND HANDS-ON EDUCATION IN A SHARED WORKSPACE. ITS MISSION OF FOSTERING BICYCLING ACCESSIBILITY AND COMMUNITY ENGAGEMENT IS REALIZED THROUGH VARIOUS ACTIVITIES INCLUDING OPEN SHOP, CLASSES, VOLUNTEER BUILD DAY AND SALES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DESCRIPTION: VELOCIPEDE BIKE PROJECT, INC. CONDUCTS ONE PROGRAM, COMMUNITY BIKE SHOP. FOR ITS OPEN SHOP, INDIVIDUALS CAN MAINTAIN AND REPAIR THEIR BICYCLES FOR A SMALL FEE, WITH ASSISTANCE FROM OUR VOLUNTEER MECHANICS. THEY CAN USE OUR PROFESSIONAL TOOLS, AND PURCHASE NEW CONSUMABLES AND DONATED PARTS AT LOW PRICES. ACCOMPLISHMENTS: IN FY 2023 (JULY 1, 2023 THROUGH JUNE 30, 2024), WE SERVED 647 PEOPLE WITH OPEN SHOP SESSIONS, VOLUNTEERS OVERHAULED AND SAFETY-CHECKED DONATED BICYCLES FOR SALE IN THE SHOP, AND WE SOLD 45 BICYCLES. VELOCIPEDE CONDUCTS CLASSES IN BICYCLE MAINTENANCE AND REPAIR; 70 PEOPLE TOOK THOSE CLASSES. THROUGH OUR NEW BIKE AID PROGRAM, WE REFURBISHED AND DONATED ANOTHER 13 BIKES TO REFUGEES AND PEOPLE IN ADDICTION-RECOVERY PROGRAMS. THIS YEAR, THE ORGANIZATION ATTRACTED AND ORIENTED NEW VOLUNTEERS AT A HIGHER AND STEADIER RATE THAN IN FY2022 AND FY2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathon Poliszuk President, Collective Member | OfficerTrustee | 12 | $0 |
Alex Ajayi Secretary, Collective Member | OfficerTrustee | 15 | $0 |
Samuel Helmey Treasurer, Collective Member | OfficerTrustee | 10 | $0 |
Lars Peterson Collective Member | Trustee | 17 | $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 | $15,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,649 |
| Total Program Service Revenue | $77,332 |
| Investment income | $494 |
| 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 | $93,475 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,505 |
| 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 | $28,180 |
| Travel | $75 |
| 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 | $2,399 |
| All other expenses | $9,827 |
| Total functional expenses | $66,160 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,364 |
| Savings and temporary cash investments | $120,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $559 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $30,177 |
| Prepaid expenses and deferred charges | $712 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,100 |
| Total assets | $155,154 |
| Accounts payable and accrued expenses | $2,215 |
| 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 | $2,215 |
| Net assets without donor restrictions | $152,939 |
| 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 | $155,154 |