Velocipede Bike Project Inc

Nonprofit profile at a glance

EIN
760813009
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Baltimore, MD, USA
Phone
4102445585
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Recreation& Sports N.E.C.

Reported finances

Revenue
$109,864
Expenses
$77,179
Assets
$190,393
Liabilities
$4,770

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Alex Ajayi (president)

People named in this filing

  • Alex Ajayi (president)
  • Jonathon Poliszuk (secretary)
  • Samuel Helmey (treasurer)

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

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

Overview

Mission

See page 1, Part I, line 1.

What it reported doing in 2024

Velocipede Bike Project, Inc. (VBPI) conducts one program, Community Bike Shop. For the program's Open Shop, patrons, for a small fee, maintain and repair their bicycles with assistance from volunteer mechanics. They can use our professional tools, and purchase new consumables and donated parts at low prices. During FY2024, VBPI served 816 patrons (not duplicated) in Open Shop sessions. In the shop, volunteers overhaul and safety-check donated bicycles for sale. Over 120 in-kind donations of bicycles, components and accessories were received in the shop, and VBPI received 313 donated bicycles, successfully diverting many from the waste stream. Volunteers repaired and sold 51 donated bicycles. VBPI volunteers teach classes in bicycle maintenance and repair; 48 people took classes. Through our Bike Aid activity, added last FY, we refurbished and donated five bicycles to people with limited means.

Operating model

Revenue model
Earned-program. 86% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 92
  • Accountability: 68
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31%; rating input score 31
  • Program expense ratio: 44.3%; rating input score 44
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.8%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 2.47; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 14.7% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 12.9% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 31% of revenue deployed · 44.3% of spending went to programs
  • Governance: 3 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $34K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 7 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 31/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.