Aevolo Cycling Inc
- Assets
- $96.4k
- Revenue
- $408.1k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/2017
- Data as of
- 10/2020
- EIN
- 81-3510640
Organization Overview
Aevolo Cycling Inc is located in New York, NY. The organization was established in 2017. 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. Aevolo Cycling Inc 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 10/2020, Aevolo Cycling Inc generated $408.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $390.8k during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
AEVOLO CYCLING, INC. ("AEVOLO") IS A US-REGISTERED UCI CONTINENTAL CYCLING TEAM ORGANIZED FOR THE SPECIFIC PURPOSE OF DEVELOPING AMATEUR ATHLETES IN THE SPORT OF CYCLING AND ENCOURAGING THE PURSUIT OF CONTINUED EDUCATON AND INTELLECTUAL CURIOSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AEVOLO CYCLING, INC. ("AEVOLO") FOCUSES ON DEVELOPING STUDENT ATHLETES BY PROVIDING TRAINING AND ACCESS TO PARTICIPATE IN CYCLING COMPETITIONS. THROUGHOUT THE YEAR, AEVOLO'S TEAM, WHICH EXCLUSIVELY COMPRISED OF RIDERS UNDER THE AGE 23, HAD PARTICIPATED IN NUMEORUS BICYCLE RACES TAKEN PLACE ACROSS THE COUNTRY. THE EXPOSURE TO PROFESSIONALLY ORGANIZED COMPETITION AND CONSTANT TRAINING GRADUALLY TURNING THEM INTO FUTURE ELITE CYCLISTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Creed Team Manager | Officer | 40 | $65,000 |
Steve Van Der Zwan Director/president | OfficerTrustee | 6 | $0 |
Douglas Ellis Director/treasurer | OfficerTrustee | 2 | $0 |
Alston Gardner Director/secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $387,171 |
| Investment income | $1 |
| 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 | $408,109 |
| Statement of Expenses | |
|---|---|
| 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. | $65,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,568 |
| Fees for services: Management | $0 |
| 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 | $13,200 |
| Advertising and promotion | $30 |
| Office expenses | $5,721 |
| Information technology | $1,527 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $13,817 |
| Insurance | $8,390 |
| All other expenses | $0 |
| Total functional expenses | $390,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,688 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $891 |
| 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 | $8,504 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,248 |
| Total assets | $96,433 |
| Accounts payable and accrued expenses | $3,625 |
| 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 | $3,625 |
| 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 |
| Total liabilities and net assets/fund balances | $92,808 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Aevolo Cycling Inc has recieved totaling $45,022.
| Awarding Organization | Amount |
|---|---|
Pro Cyclist Foundation Boulder, CO PURPOSE: DEVELOP ELITE CYCLISTS | $45,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usta Player Development Incorporated White Plains, NY | $604,131 | $13,893,000 |
America East Boston, MA | $5,719,263 | $6,183,979 |
United States Equestrian Team Foundation Inc Gladstone, NJ | $30,191,062 | $5,247,335 |
Laureus Sport For Good Foundation Of America New York, NY | $6,727,173 | $4,372,530 |
Far Hills Race Meeting Association Inc Far Hills, NJ | $7,235,904 | $3,433,382 |
Open Squash Inc New York, NY | $5,357,253 | $1,806,431 |
American Platform Tennis Association Inc Pittsburgh, PA | $1,547,528 | $1,984,678 |
Hayden Synchronized Skating Teams Inc Woburn, MA | $867,521 | $1,759,773 |
Connecticut State Golf Association Inc Rocky Hill, CT | $2,099,281 | $1,823,029 |
New York Yacht Club Regatta Association Inc New York, NY | $782,002 | $1,482,419 |
Kasparov Chess Foundation Inc Montville, NJ | $7,558,285 | $1,748,219 |
Pittsburgh Elite Volleyball Association Pittsburgh, PA | $538,474 | $1,020,631 |