Free Bikes 4 Kidz Mn

Nonprofit profile at a glance

EIN
271199089
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Plymouth, MN, USA
Phone
9522127781
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Emergency Assistance

Official website

Reported finances

Revenue
$555,323
Expenses
$533,828
Assets
$349,598
Liabilities
$186,364

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Jay Zemke (Executive Director)

Highest reported compensation

  • Jay Zemke (Executive Director): $94,930 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Free Bikes 4 Kidz MN is a non-profit organization geared toward helping all kids ride into a happier, healthier childhood by providing bikes to those most in need. The public donates gently used bikes, we organize thousands of volunteers to clean and refurbish them, and then we give them away to kids in need.

What it reported doing in 2024

In February 2019, the Organization acquired the rights to the MN Ironman Bike Ride. The legendary ride is the longest running organized ride in Minnesota. From humble beginnings in 1967, MN Ironman Bike Ride has grown to thousands of riders proudly riding it annually. The Organization rebranding the event to the Freebike which took place in June 2024. This event was the primary fundraiser for the year through registrations and donations it profited nearly $15,000.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 67% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.1%; rating input score 83
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $23.65 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.7%; rating input score 95; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.9%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 17.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 83.1% of revenue deployed · 86.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $460K in reported program spending
  • Leadership: top reported pay $95K · 14 people listed
  • Consistency: 30 of 32 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.