Nice Ride Minnesota

Nonprofit profile at a glance

EIN
264372592
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Minneapolis, MN, USA
Phone
6127474659
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Transportation Systems

Reported finances

Revenue
$208,340
Expenses
$769,902
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • MARK BIXBY (PRESIDENT)
  • BILL DOSSETT (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BILL DOSSETT (EXECUTIVE DIRECTOR): $17,615 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance quality of life by providing convenient, easy-to-use bike sharing and fleet programs that will provide residents and visitors a healthy, fun, different way to get around town.

What it reported doing in 2023

In 2022, nice ride Minnesota's primary program was oversight of a public bike sharing system, which creates a simple, low-cost alternative transportation solution to increase physical activity levels, reduce congestion, reduce dependence on fossil fuels and auto emissions, and enhance urban vitality. The system complemented public transit and car-sharing programs, providing greater transportation choices. Prior to july 2, 2018, nice ride Minnesota owned and operated the system, which included 201 stations and 1,850 bicycles. In 2018, nice ride Minnesota began a transition. During the transition period (until the end of our grant-funded contract with the city of minneapolis in august 2021), nice ride remained the exclusive licensee of city of minneapolis and was authorized to contract with motivate Minnesota llc (selected through a public solicitation) to operate the system. Motivate Minnesota llc subsequently merged into lyft bikes & scooters. Through oversight of this contract, nice ride Minnesota met objectives for quality, reliability, equity, and order in the right-of-way as set forth in the 2018 update to nonprofit business plan. Lyft also delivered a substantial e-bike expansion pursuant to a master planning process. Because nice ride Minnesota no longer employed an operations staff or raised funds to purchase new equipment, this transition had a major impact on our financial statements. Until spring of 2023, nice ride Minnesota continued to own the old grant-funded equipment. Revenue from that equipment and the operating fee for that system are reflected in nice ride Minnesota's financials. Ancillary to this oversight work, nice ride engaged in advocacy, seeking to share the results of its transition agreements with other cities and nonprofits as an example and to advocate for joint action by right of way owners to contract with privately-funded shared mobility services in ways that will achieve public goals. For more information and copies of our updated business plan and contracts, see: https://managesharedmobilitymn.org/history.the grant-funded agreements that funded nice ride Minnesota expired in 2021, marking the end of the twelve-year pilot project. Lyft bikes & scooters llc was a direct licensee of the city of minneapolis in 2022 and operated our aging grant-funded equipment for us pursuant to a program agreement.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 93
  • Accountability: 90
  • Sustainability: 5
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.8%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • 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: -269.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -12.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -18.1% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -17.9% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $669K in reported program spending
  • Leadership: top reported pay $18K · 10 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 12 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.