Grow Cycling Foundation Corporation
- Assets
- $272.6k
- Revenue
- $251.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Mckinney, TX
- Founding
- Data as of
- 12/2022
- EIN
- 85-1436997
Organization Overview
Grow Cycling Foundation Corporation is located in Mckinney, TX. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grow Cycling Foundation Corporation 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, Grow Cycling Foundation Corporation generated $251.1k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $453.5k during the year ending 12/2022. 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
GROW CYCLING FOUNDATION PROMOTES EDUCATION, ACCESS AND ECONOMIC EMPOWERMENT OPPORTUNITIES THAT INCREASE INCLUSION AND BELONGING IN CYCLING AND THE OUTDOORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROW CYCLING FOUNDATION RAISED 100% OF THE FUNDS TO FINANCE AND DEVELOP, FROM IDEATION TO REGULATORY APPROVALS TO FULL CONSTRUCTION, THE VERY FIRST PUBLIC PUMPTRACK IN LOS ANGELES IN A BEAUTIFUL, 55-ACRE PARK IN INGLEWOOD, ONE OF THE MOST DIVERSE AND FASTEST GROWING COMMUNITIES OF ITS SIZE IN AMERICA. THE INGLEWOOD PUMPTRACK IS AN ENVIRONMENTALLY SUSTAINABLE, COMMUNITY CYCLING HUB, FORECASTED TO SERVE 250,000 PEOPLE/YEAR, MOSTLY KIDS. AS A SIGNIFICANT PART OF INGLEWOOD'S FAMOUS "SPORTS CAPITAL OF AMERICA", THE PUMPTRACK IS GROUND ZERO FOR YOUTH DISCOVERY AND EXPLORATION IN INGLEWOOD AND LOS ANGELES TO MODERN DISCIPLINES OF CYCLING AND OUTDOOR SPORTS, PROVIDING PATHWAYS OF EDUCATION AND ACCESS TO FULFILLING CAREER DEVELOPMENT, ENTRY POINTS TO WORLD CHAMPIONSHIP RACING AND OLYMPIC EVENTS, AS WELL AS THE LIFELONG HEALTH, MENTAL WELLNESS AND SOCIAL BENEFITS OF RECREATIONAL CYCLING. OPENING IN SEPTEMBER 2023, THIS ACHIEVEMENT REPRESENTS A MILESTONE FOR OUR FOUNDATION AND DEMONSTRATES WHAT THE CYCLING COMMUNITY CAN ACHIEVE WHEN WE COME TOGETHER. GROW'S JOB'S BOARD POSTED NEARLY 1000 CYCLING INDUSTRY JOBS RANGING FROM ENTRY-LEVEL MECHANICS TO C-SUITE LEVEL POSITIONS AND ATTRACTED OVER 11,000 APPLICANTS. OUR OUTREACH TO PROMOTE MORE OPPORTUNITIES FOR GIRLS AND WOMEN IN CYCLING AND THE OUTDOORS INCLUDED HYBRID AND REMOTE WORK FOR NEW AND WORKING MOMS AND MORE DISCOVERY FOR WOMEN WHO HAVE NEVER WORKED PROFESSIONALLY IN CYCLING. GROW'S SCHOOLS-TO-PUMPTRACK CYCLING EDUCATION PROGRAMS, WHICH ALLOWS STUDENTS TO LEARN AND PRACTICE SAFE CYCLING SKILLS OUTSIDE THE CLASSROOM AFTER SCHOOL, CONTINUES TO THRIVE IN K-1 AND MIDDLE SCHOOLS THROUGHOUT THE INGLEWOOD UNIFIED SCHOOL DISTRICT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Holden Vice-Chairma | OfficerTrustee | 1 | $0 |
Eliot Jackson Founder & Ch | OfficerTrustee | 1 | $0 |
Joi Jackson President | OfficerTrustee | 1 | $0 |
Greg Minnaar Director | Trustee | 1 | $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 | $251,334 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $251,334 |
| 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 | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$238 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $251,096 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $428,185 |
| 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 | $2,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,541 |
| Advertising and promotion | $5,497 |
| Office expenses | $5,370 |
| Information technology | $2,030 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $774 |
| 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 | $980 |
| All other expenses | $0 |
| Total functional expenses | $453,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,579 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $272,579 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $272,579 |
| 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 | $272,579 |
Grants Awarded
Over the last fiscal year, Grow Cycling Foundation Corporation has awarded $428,185 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF INGLEWOOD PURPOSE: BUILD PUMPTRACK | $378,000 |
STRIDER EDUCATION FOUNDATION PURPOSE: EDUCATION INITIATIVE | $45,000 |
HIGHLAND ELEMENTARY SCHOOL PURPOSE: EDUCATION INITIATIVE | $5,185 |