PEOPLE CYCLE INC

EIN: 582508155 501(c)(3) Recreation & Sports

RICHMOND, VA

Total Revenue
$297,237
Total Expenses
$214,120
Total Assets
$118,583
Net Assets
$118,583
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
VA
Principal Officer
MATTHEW KUHN
Phone
8042559230
Tax Period
2024-01-01 to 2024-12-31

PEOPLE CYCLE INC, founded in 2010, is a small nonprofit in the Recreation & Sports sector that reported $297K in total revenue in fiscal year 2024. Revenue surged 62% from the prior year, signaling strong growth momentum. The organization ran a surplus of $83K, a strong 28% operating margin.

Mission

RICHMOND CYCLING CORPS (RCC) USES CYCLING AS OUR PLATFORM FOR CHANGE. WE INFUSE OURSELVES; OUR PASSION, OUR VALUES, OUR CREATIVITY, OUR DRIVE, AND OUR DEDICATION INTO THE LIVES OF OUR YOUTH. WE HAVE FUN. WE LAUGH. WE TEACH. WE LEARN. WE PROMISE OUR YOUTH, THAT IF THEY STAY WITH RICHMOND CYCLING CORPS, THEY WILL RECEIVE THE TOOLS AND EDUCATION NECESSARY TO PULL THEMSELVES UP OUT OF POVERTY. WE ALSO PROMISE OUR UNCONDITIONAL LOVE AND SUPPORT TO EACH YOUTH. WE WILL NEVER BREAK OUR PROMISE. WE WILL NEVER BECOME SET IN OUR WAYS; WE WILL ALWAYS BE DYNAMIC IN OUR APPROACH TO CHANGING YOUTH LIVES. WE ARE FEARLESS IN OUR APPROACH TO OUR PURPOSE. WE WILL NOT BECOME TANGLED IN RED-TAPE, POLICY, POLITICS, AND TALKING HEADS. WE WILL ALWAYS DELIVER ACTION, NOT MESSAGING. LIFE IS TOO SHORT, AND WE, INCLUDING OUR YOUTH, HAVE A LOT TO ACCOMPLISH. WE WILL ALWAYS BE PASSIONATE TOWARDS OUR PURPOSE. RICHMOND CYCLING CORPS: CAN'T STOP. WON'T STOP.

Program Service Accomplishments

Program 1
Expenses: $193,576 Revenue: $28,849

RCC CONTINUED PROVIDING COMPREHENSIVE COACHING AND MENTORING SERVICES TO YOUTH LIVING IN PUBLIC HOUSING. THE CYCLING PROGRAM CONTINUED TO REACH 15 YOUTH WHO WERE THE BENEFICIARIES OF MENTORING...

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RCC CONTINUED PROVIDING COMPREHENSIVE COACHING AND MENTORING SERVICES TO YOUTH LIVING IN PUBLIC HOUSING. THE CYCLING PROGRAM CONTINUED TO REACH 15 YOUTH WHO WERE THE BENEFICIARIES OF MENTORING, EMPLOYMENT OPPORTUNITIES, ACADEMIC SUPPORT, COUNSELING, HEALTH AND DENTAL SERVICES, AND PATHWAYS AWAY FROM GANGS, DRUG USE, AND VIOLENCE. THE ACADEMIC SUPPORT, WHICH WAS EXPANDED IN 2017 AND NAMED LEGACY ACADEMY, INCLUDES A FULL-TIME SCHOOL PROVIDING A LOW STUDENT-TEACHER RATIO AND A RICH AND VARIED CURRICULUM. ARMSTRONG BIKE PARK - THE ARMSTRONG BIKE PARK IS THE NATION'S FIRST AND ONLY INNER-CITY MOUNTAIN BIKE PARK. CONSTRUCTED ON A 10 ACRE ABANDONED FIELD NEXT TO ARMSTRONG HIGH SCHOOL, WITHIN THE PUBLIC HOUSING NEIGHBORHOOD OF FAIRFIELD COURT, THE 1.5 MILE TRAIL BOASTS 22 DIFFERENT SKILL- FEATURES. THE PARK WAS LAUNCHED AS A TRAINING COURSE FOR THE ARMSTRONG CYCLING TEAM - AND EQUALLY IMPORTANT, A POINT OF ENTRY INTO MOUNTAIN BIKING FOR INNER- CITY AREA YOUTH AND RICHMOND PUBLIC SCHOOL STUDENTS. CYCLING TEAM - IN FEBRUARY OF 2014, RCC LAUNCHED THE NATION'S FIRST AND ONLY INNER-CITY HIGH SCHOOL CYCLING TEAM OUT OF ARMSTRONG HIGH SCHOOL. REFUSING TO BECOME A NOVELTY, THE TEAM TRAINED HARD, FOSTERING SOLID RESULTS IN THEIR FIRST YEAR. IN FACT, THE TEAM PRODUCED TWO COMPETITIVE VARSITY ATHLETES RIGHT OUT OF THE BLOCKS, WITH FOUR WOMEN COMPRISING A RESPECTED JV SQUAD. THIS NATURAL PROGRESSION INTO THE HIGH SCHOOL RANKS, HAS PROVEN INSTRUMENTAL TOWARDS OUR YOUTH RETENTION - AS CYCLING IS NOW AVAILABLE AS A PART OF THEIR HIGH SCHOOL EXPERIENCE - A RECOGNIZED HIGH SCHOOL SPORT IN THE PRESTIGIOUS NATIONAL INTERSCHOLASTIC CYCLING ASSOCIATION (NICA).

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $268,388
Program Service Revenue $28,849
Investment Income $0
Other Revenue $0
TOTAL REVENUE $297,237

Expense Breakdown

Grants Paid $0
Salaries & Benefits $120,544
Fundraising Expenses $7,926
Program Expenses $193,576
Other Expenses $93,576
TOTAL EXPENSES $214,120

Year-over-Year Comparison

2024 2023 Change
Revenue $297,237 $183,193 +0.6%
Expenses $214,120 $202,374 +0.1%
Net Income $83,117 $-19,181 -5.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
4
Employees
6
Volunteers
15

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
5
$45,011
Total Directors
5
$45,011
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATTHEW KUHN EXECUTIVE DI 40.00
Officer Director
$45,011 $0 $45,011
KATHY ANN HOOF BOARD CHAIR 1.00
Officer Director
$0 $0 $0
LAUREN KERN TREASURER 1.00
Officer Director
$0 $0 $0
NATIMA JONES VICE-CHAIR 1.00
Officer Director
$0 $0 $0
LAKESHIA ALLEN SECRETARY 1.00
Officer Director
$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 $297,237 $214,120 $118,583 $83,117
2022 $238,525 $236,207 $59,356 $2,318
2018 $11,681 $347,254 $116,024 $-335,573
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