My City Rides
- Assets
- $3.9m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 7
- Location
- Memphis, TN
- Founding
- 02/2018
- Data as of
- 12/2021
- 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 12/2021, My City Rides employed 7 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 12/2021, My City Rides generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 29.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. 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
2021
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 2021, MY CITY RIDES LEASED 60 NEW MOTOR SCOOTERS TO INDIVIDUALS IN THE WORKFORCE IN MEMPHIS, TN.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Nix President/ceo | Officer | 40 | $144,798 |
Patricia Stringer Secretary | Officer | 5 | $0 |
Dan Conaway Board Member | Trustee | 2 | $0 |
Paulo Teixeira Board Member | Trustee | 2 | $0 |
Jay Martin Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $159,676 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,480,764 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,640,440 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,422 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $119,525 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,767,387 |
| 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. | $144,798 |
| Compensation of current officers, directors, key employees. | $23,760 |
| Compensation to disqualified persons | $395,228 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,215 |
| Payroll taxes | $39,980 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80,068 |
| 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 | $47,122 |
| Advertising and promotion | $104,900 |
| Office expenses | $32,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,690 |
| Travel | $1,189 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $663 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,263 |
| Insurance | $100,741 |
| All other expenses | $16,721 |
| Total functional expenses | $1,171,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $775,526 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $750,837 |
| Accounts receivable, net | $323,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $391,598 |
| Prepaid expenses and deferred charges | $49,516 |
| Net Land, buildings, and equipment | $1,489,432 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $109,960 |
| Other assets | $0 |
| Total assets | $3,890,052 |
| Accounts payable and accrued expenses | $258,334 |
| 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 | $258,334 |
| Net assets without donor restrictions | $3,631,718 |
| 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 | $3,890,052 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that My City Rides has recieved totaling $1,125,540.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $1,072,750 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $27,000 |
T W Briggs Foundation Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $25,750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Laborers International Union Of North America Nashville, TN | $4,964,778 | $6,013,803 |
Hampton Roads Workforce Foundation Norfolk, VA | $965,149 | $1,519,079 |
My City Rides Memphis, TN | $3,890,052 | $1,767,387 |
Greater Memphis Alliance For A Competitive Workforce Memphis, TN | $0 | $313,583 |
Tlap Foundation Nashville, TN | $91,469 | $0 |
Not A Bad Apple Inc Columbus, GA | $0 | $0 |