My City Rides
- Assets
- $4.8m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Memphis, TN
- Founding
- 02/2018
- Data as of
- 12/2022
- EIN
- 82-0898706
Organization Overview
My City Rides is located in Memphis, TN. The organization was established in 2018. According to its NTEE Classification (J19) the organization is classified as: Support N.E.C., under the broad grouping of Employment and related organizations. As of 12/2022, My City Rides employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. My City Rides 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 12/2022, My City Rides generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 32.6% each year . All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 39.0% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MY CITY RIDES MAKES RELIABLE TRANSPORTATION AFFORDABLE AND OWNERSHIP POSSIBLE FOR THOSE IN THE WORKFORCE WITH LIMITED MEANS BUT UNLIMITED POTENTIAL, INCREASING OPPORTUNIY FOR EVERYONE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2022, MY CITY RIDES LEASED NEW MOTOR SCOOTERS TO INDIVIDUALS IN THE WORKFORCE IN MEMPHIS, TN.
DURING 2022, MY CITY RIDES LEASED 82 NEW MOTOR SCOOTERS TO INDIVIDUALS IN THE WORKFORCE IN MEMPHIS, TN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Conaway Board Member | Trustee | 2 | $0 |
Paulo Teixeira Board Member | Trustee | 2 | $0 |
Jay Martin Board Member | Trustee | 2 | $0 |
Andrew Nix President/ceo | Officer | 40 | $164,875 |
Patricia Stringer Secretary | Officer | 5 | $0 |
Dan Conaway Board Member | Trustee | 2 | $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 | $2,491,883 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,491,883 |
| Total Program Service Revenue | $0 |
| Investment income | $198 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,684 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $116,338 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,595,735 |
| 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. | $164,875 |
| Compensation of current officers, directors, key employees. | $27,575 |
| Compensation to disqualified persons | $469,252 |
| Other salaries and wages | $469,252 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,934 |
| Payroll taxes | $48,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,343 |
| Fees for services: Accounting | $33,264 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,111 |
| Advertising and promotion | $180,322 |
| Office expenses | $63,989 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,367 |
| Travel | $2,446 |
| 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 | $69,683 |
| Insurance | $70,747 |
| All other expenses | $31,919 |
| Total functional expenses | $1,550,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $688,769 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $53,725 |
| Accounts receivable, net | $161,301 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $481,733 |
| Prepaid expenses and deferred charges | $31,758 |
| Net Land, buildings, and equipment | $3,276,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $128,455 |
| Other assets | $0 |
| Total assets | $4,822,379 |
| Accounts payable and accrued expenses | $146,997 |
| 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 | $146,997 |
| Net assets without donor restrictions | $4,675,382 |
| 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 | $4,822,379 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-America Carpenters Regional Benefit Services Inc St Louis, MO | $452,609 | $6,662,896 |
Laborers International Union Of North America Nashville, TN | $5,824,458 | $6,852,150 |
Hampton Roads Workforce Foundation Norfolk, VA | $965,149 | $1,519,079 |
My City Rides Memphis, TN | $4,822,379 | $2,595,735 |
Love My Job Training Center Columbia, MO | $168,922 | $587,163 |
Greater Memphis Alliance For A Competitive Workforce Memphis, TN | $0 | $313,583 |
Launch Local Network Peachtree Corners, GA | $41,741 | $0 |
Tlap Foundation Nashville, TN | $91,469 | $0 |
Not A Bad Apple Inc Columbus, GA | $0 | $0 |