SECOND LIFE BIKES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

KERRI MARTIN

Phone

7327766878

Tax Period

2023-01-01 to 2023-12-31

SECOND LIFE BIKES INC, founded in 2010, is a small nonprofit in the Youth Development sector that reported $473K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $454K left a modest 4% surplus.

Mission

SECOND LIFE BIKES, INC. IS A BIKING COMMUNITY CENTER IN ASBURY PARK WHERE PEOPLE CONNECT TO EACH OTHER, BUILD SKILLS, JOIN GROUP BIKE RIDES, LEARN BIKE SAFETY, AND CREATE BIKE ART AND CUSTOM DESIGNS THAT CAN SUPPORT NEW SOCIAL ENTERPRISES. ITS MISSION IS TO GET MORE PEOPLE (ESPECIALLY YOUTH) ON BIKES, MORE OFTEN, WHILE ENCOURAGING PEOPLE TO REPURPOSE OLD BIKES AND BIKE PARTS, RATHER THAN DISCARD THEM.

Program Service Accomplishments

Program 1

Expenses: $419,469

THE MISSION OF SECOND LIFE BIKES, INC. IS TO CREATE A BIKING COMMUNITY IN THE ASBURY PARK AREA WITH A FOCUS ON CHILDREN. THE ORGANIZATION PRIMARILY USES PROCEEDS FROM THE COMMUNITY BIKE SHOP TO...

THE MISSION OF SECOND LIFE BIKES, INC. IS TO CREATE A BIKING COMMUNITY IN THE ASBURY PARK AREA WITH A FOCUS ON CHILDREN. THE ORGANIZATION PRIMARILY USES PROCEEDS FROM THE COMMUNITY BIKE SHOP TO SUPPORT A YOUTH EARN-A-BIKE PROGRAM. SECOND LIFE BIKES, INC. CONTINUED TO FULFILL ITS MISSION THROUGH THE COMMUNITY BIKE SHOP. THE ORGANIZATION WORKS WITH MANY SCHOOLS AND COMMUNITY ORGANIZATIONS. THE YOUTH EARN-A-BIKE PROGRAM ALLOWS YOUTH AGES 12 - 18 THE OPPORTUNITY TO GAIN VALUABLE JOB AND LIFE SKILLS IN ADDITION TO EARNING THEM A BICYCLE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $254,224

Program Service Revenue $200,121

Investment Income $8

Other Revenue $19,140

TOTAL REVENUE $473,493

Expense Breakdown

Grants Paid $0

Salaries & Benefits $114,137

Fundraising Expenses $8,615

Program Expenses $419,469

Other Expenses $339,429

TOTAL EXPENSES $453,566

Year-over-Year Comparison

	2023	2022	Change
Revenue	$473,493	$421,046	+0.1%
Expenses	$453,566	$427,029	+0.1%
Net Income	$19,927	$-5,983	-4.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

100

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$60,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER CREWS	PRESIDENT	2.00	Officer	$0	$0	$0
KERRI MARTIN	VICE PRESIDE	40.00	Officer	$60,000	$0	$60,000
ROGER BOYCE	TREASURER	2.00	Officer	$0	$0	$0
PAUL MCEVILY	SECRETARY	2.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$473,493	$453,566	$345,473	$19,927
2022	$421,046	$427,029	$310,993	$-5,983
2021	$483,304	$437,249	$268,255	$46,055
2020	$469,943	$437,852	$218,139	$32,091
2019	$413,332	$418,918	$185,834	$-5,586
2018	$413,983	$403,298	$191,427	$10,685