Recyclable Bicycle Exchange Inc

Nonprofit profile at a glance

EIN
473063909
IRS 990-EZ coverage
2020–2022
Forms available
Form 990-EZ 2022, Form 990-N 2019
Location
Fort Lauderdale, FL, USA
Phone
9545407609
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Recycling Programs

Reported finances

Revenue
$146,138
Expenses
$122,136
Assets
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • JEFFREY S TORKELSON (OFFICER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A community bicycle shop/co-op to help provide quality and safe bikes to the kids of south Florida as a means of introducing an entertaining activity that promotes an active lifestyle, freedom, fun and transportation. Providing affordable bikes and bike repair to the public and free bikes to local youth. Tool, knowledge and facility sharing encouraging bike/repair based educational opportunities. Encouraging safe biking and providing helmets/safety equipment. Working with local leaders/groups/cities to build a viable transportation infrastructure. Reusing bike parts for future repairs and recycling all unusable frames and parts to reduce waste in local landfills. Open shop nights, bike rodeos, bike valet/parking at public events and free helmets.

What it reported doing in 2022

Provided affordable bikes and bike repair to the public and free bikes to local youth. Encouraged bike/repair based educational opportunities. Provided helmets/safety equipment to encourage safe biking.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.1%; rating input score 83
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 16.4%; rating input score 68; 68th 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: 4.7%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 14.3% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: -73.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 83.1% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $122K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 5 of 5 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2020 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.