Main Line Cycle Center
Nonprofit profile at a glance
- EIN
- 275500795
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024, Form 990-EZ 2015
- Location
- St Paul, MN, USA
- Phone
- 6512220775
- Rating confidence
- Limited
- Sector
- Public, Society Benefit N.E.C.
Reported finances
- Revenue
- $205,507
- Expenses
- $238,467
- Assets
- $238,497
- Liabilities
- $96,051
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Jeremy Wagner (Executive Director/Board Chair)
- Jeremy Wendt (Vice President)
Highest reported compensation
- Jeremy Wagner (Executive Director/Board Chair): $37,049 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Lowertown Bike Shop (LBS) is dedicated to providing sustainable transportation options using recycled bikes and parts. LBS provides educational opportunities to promote health, safety, environmental awareness, and connectedness within our community.
What it reported doing in 2024
Retail and repair shop level services for underserved riders: Lowertown Bike Shop focused it's efforts on providing a welcoming and educational experience to all forms of underserved riders. The bicycle industry defines an affordable bike as one costing below $1,000. LBS served populations of female, low income, racially diverse, homeless, mentally ill, developmentally disabled, urban commuter, and novice riders, many with a budget of less than $500. Many of these communities have been underserved by the bicycle industry. We have provided for these populations by supplying new and used bikes that fit all body types, riding styles, and every budget. We also accommodate these riders by custom building for their needs and budgets, often utilizing used parts and bikes. Lowertown Bike Shop built custom bikes to meet the needs of 51 people in 2024. Of those people, LBS donated 6 used bikes at no cost to the individual. LBS also supplied free and/or reduced cost bikes, parts, and services to 13 individuals in demonstrated need.
Operating model
- Revenue model
- No positive adjusted resources. The filing reports no positive adjusted operating resources.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 90
- Accountability: 69
- Sustainability: 24
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: 76.8%; rating input score 77
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: -16%; rating input score 17; 17th percentile among comparable filings
- Total-asset coverage ratio: 1; rating input score 41; 41st percentile among comparable filings
- Liabilities to assets ratio: 0.4; rating input score 13; 13th percentile among comparable filings
- Officer compensation ratio: 15.5%; rating input score 24; 24th percentile among comparable filings
Growth
- Program expense growth: 5.3% per year; rating input score 100; 55th percentile among comparable filings
- Revenue growth: 8.7% per year; rating input score 100; 68th percentile among comparable filings
- Asset growth: 15.6% per year; rating input score 100; 78th percentile among comparable filings
Details
- Where the money goes: 76.8% of spending went to programs
- Governance: 5 of 6 board members independent · 4 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $183K in reported program spending
- Leadership: top reported pay $37K · 6 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 3 filed schedules
- Filing history: 8 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Sustainability: Operating margin scored 17/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
- High — Sustainability: Liabilities to assets ratio scored 13/100.
- High — Sustainability: Officer compensation ratio scored 24/100.