Working Bikes

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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

2003

Legal Domicile

Principal Officer

Dave Gorman

Phone

6309171702

Tax Period

2024-01-01 to 2024-12-31

Working Bikes, founded in 2003, is a community nonprofit in the International Affairs sector that reported $1.5M in total revenue in fiscal year 2024.

Mission

Working Bikes acquires donated or discarded bicycles and gives those bicycles new homes. The organization donates bicycles internationally; fixes bicycles to donate and sell locally; and educates the public in bicycle repair, safety and reuse, while supporting healthy cycling.

Program Service Accomplishments

Program 1

Expenses: $1,464,016 Revenue: $725,752

In 2024, Working Bikes collected 12,413 used bicycles with the help of many bike collection events, often in conjunction with municipally supported recycling fairs, and provided information on safe riding, basic bike repair, and recycling at dozens of community events. Countless individuals and entities including bike shops, property companies and police departments were donation drop off" partners for unwanted bicycles to be repurposed by Working Bikes. Hundreds of volunteers donated thousands of hours to Working Bikes in 2024 and facilitated the donation of 10,009 bikes (19 shipping containers) of used bicycles to our international partners in Africa, Eastern Europe, and Central America. Volunteers and staff also repaired and distributed 1,046 bicycles to local Chicago organizations and individuals and donated 990 bikes to partners around the Midwest, who repaired the bikes and distributed them to their communities. Working Bikes also helped the City of Chicago's Bike Chicago effort with bicycle assembly, repair, transportation, and distribution.

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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 (2024)

Revenue Breakdown

Contributions & Grants $756,798

Program Service Revenue $15,983

Investment Income $400

Other Revenue $721,284

TOTAL REVENUE $1,494,465

Expense Breakdown

Grants Paid $0

Salaries & Benefits $832,835

Fundraising Expenses $11,202

Program Expenses $1,464,016

Other Expenses $725,764

TOTAL EXPENSES $1,558,599

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,494,465	$1,550,051	0.0%
Expenses	$1,558,599	$1,486,276	+0.0%
Net Income	$-64,134	$63,775	-2.0%

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

1429

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

$81,187

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dave Gorman	President	8.00	Officer Director	$0	$0	$0
Dalia Garcia	Vice President	3.00	Director	$0	$0	$0
Amy Little	Treasurer	3.00	Officer Director	$0	$0	$0
Mark Dabrowski	Secretary	4.00	Officer Director	$0	$0	$0
Caronina Grimble	Director	1.00	Director	$0	$0	$0
Claire Meyers	Director	2.00	Director	$0	$0	$0
Devon Snyder	Director	2.00	Director	$0	$0	$0
Faraz Hussain	Director	2.00	Director	$0	$0	$0
Jerry Cohen	Director	5.00	Director	$0	$0	$0
Lee Ravenscroft	Director	5.00	Director	$0	$0	$0
Olin Postlewaite	Director	2.00	Director	$0	$0	$0
Phil Kaplan	Director	8.00	Director	$0	$0	$0
Reshorna Fitzpatrick	Director	1.00	Director	$0	$0	$0
Trevor Clarke	Executive Director	50.00	Officer	$81,187	$0	$81,187

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	$1,494,465	$1,558,599	$1,823,499	$-64,134
2023	$1,550,051	$1,486,276	$1,466,529	$63,775
2022	$1,249,483	$1,156,284	$1,386,342	$93,199
2021	$1,172,516	$1,041,551	$1,288,270	$130,965
2020	$949,904	$846,812	$1,148,976	$103,092
2019	$960,526	$1,000,666	$1,045,513	$-40,140
2018	$985,635	$855,126	$1,104,973	$130,509