Tricycle Foundation Inc
- Assets
- $2.4m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 20
- Location
- New York, NY
- Founding
- 07/1991
- Data as of
- 09/2022
- EIN
- 13-3589889
Organization Overview
Tricycle Foundation Inc is located in New York, NY. The organization was established in 1991. As of 09/2022, Tricycle Foundation Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tricycle Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Tricycle Foundation Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $2.9m during the year ending 09/2022. While expenses have increased by 9.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PUBLICATION AND DISTRIBUTION OF AN EDUCATONAL MAGAZINE AND WEBSITE "TRICYCLE", WHICH EQUATES AND ILLUSTRATES TO ITS READERS THE VARIOUS SUBJECTS OF THE BUDDHIST RELIGION AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRICYCLE ENDED FISCAL 2022 WITH ONGOING INVESTMENTS IN STAFF AND TECHNOLOGY THAT CONTINUE TO DRIVE THE ORGANIZATION'S SUCCESS. THE YEAR SAW THE LAUNCH OF TRICYCLE'S DAILY DHARMA APP, BUILT ON THE POPULARITY OF ITS EPONYMOUS DAILY NEWSLETTER; THE IMPLEMENTATION OF CUTTING-EDGE MARKETING SOFTWARE; AND INVESTMENT IN A GROWING AND INCREASINGLY PRODUCTIVE STAFF. TRICYCLE CONTINUES TO DEVELOP ITS FREE OFFERINGS, MOST NOTABLY ITS BUDDHISM FOR BEGINNERS MICROSITE; ITS ONLINE-LEARNING SCHOLARSHIPS; ITS PODCASTS, TRICYCLE TALKS AND LIFE AS IT IS; AND FREE NEWSLETTERS. TRICYCLE HAS ALSO EXPANDED ITS PAID OFFERINGS TO INCLUDE A HIGHER-VALUE "PREMIUM SUBSCRIPTION," WHICH HAS BUILT MOMENTUM THROUGH 2022. THE ORGANIZATION HAS GROWN OVER THE YEARS WITH THE HELP OF INNOVATIVE PARTNERSHIPS, AND THIS YEAR WAS NO EXCEPTION. PARTNERING WITH THE UNIVERSITY OF PORTLAND'S BUSINESS SCHOOL, THE PUBLISHING STAFF WORKED WITH MBA CANDIDATES TO STREAMLINE TRICYCLE.ORG'S ONLINE USER EXPERIENCE. GATHERING USEFUL INSIGHTS FROM A TEAM THAT PROVIDED AN AUDIT OF TRICYCLES WEB AND MOBILE EXPERIENCE, EMAIL MARKETING, AND SOCIAL MEDIA, THE PROJECT YIELDED INNOVATIVE STRATEGIES FOR AUDIENCE DEVELOPMENT.TRICYCLE REMAINS GRATEFUL TO ITS MANY GENEROUS DONORS, WHOSE PARTNERSHIP WITH THE MAGAZINE DATES TO ITS BEGINNINGS. IN 2022, THE ORGANIZATION'S DONOR BASE CONTINUED TO GROW, WITH CONTRIBUTED REVENUE TOPPING PAST YEARS' PERFORMANCE. THE GENEROSITY OF TRICYCLE'S READERSHIP CONTINUES TO ENABLE THE ORGANIZATION TO ADVANCE ITS MISSION TO MAKE BUDDHIST TEACHINGS WIDELY AVAILABLE. THE SUPPORT OF THE READERSHIP HAS BEEN, AND REMAINS, THE ORGANIZATION'S GREATEST ASSET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Shaheen President | OfficerTrustee | 50 | $222,499 |
Samuel Mowe | 0 | $107,500 | |
Genevieve David Trustee | Trustee | 1 | $0 |
Jonathan Hochman Trustee | Trustee | 1 | $0 |
Lawrence Fox Trustee | Trustee | 0 | $0 |
Duncan Ryuken Williams Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $481,202 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $481,202 |
| Total Program Service Revenue | $2,733,883 |
| Investment income | $10,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,225,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $222,499 |
| Compensation of current officers, directors, key employees. | $6,675 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $806,370 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $113,675 |
| Payroll taxes | $92,429 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,383 |
| Advertising and promotion | $0 |
| Office expenses | $20,330 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $146,231 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,661 |
| All other expenses | $246,629 |
| Total functional expenses | $2,852,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,251,203 |
| Savings and temporary cash investments | $1,018,317 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $65,909 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,212 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $40 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,414 |
| Total assets | $2,370,095 |
| Accounts payable and accrued expenses | $71,177 |
| Grants payable | $0 |
| Deferred revenue | $988,513 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,738 |
| Total liabilities | $1,081,428 |
| Net assets without donor restrictions | $1,238,667 |
| Net assets with donor restrictions | $50,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,370,095 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Tricycle Foundation Inc has recieved totaling $101,527.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: RELIGION | $30,400 |
Shared Earth Foundation Chestertown, MD PURPOSE: CELEBRATING THE 30TH ANNIVERSARY OF THIS BUDDHIST PUBLICATION, INCLUDING MAGAZINE, PODCASTS, LIVE VIRTUAL EVENTS AND LINKS TO OTHER BUDDHIST ORGANIZATIONS AND COURSES. | $30,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $11,950 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Silverleaf Foundation Inc New Canaan, CT PURPOSE: GENERAL | $10,000 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Literary Classics Of The United States Inc New York, NY | $32,475,122 | $7,761,557 |
Poets & Writers Inc New York, NY | $8,951,553 | $4,923,275 |
Tricycle Foundation Inc New York, NY | $2,370,095 | $3,225,957 |
Poets House Inc New York, NY | $8,003,278 | $1,599,179 |
Just Buffalo Literary Center Inc Buffalo, NY | $1,228,865 | $1,014,497 |
Atled Inc Arverne, NY | $346,965 | $992,368 |
Jewish Book Council New York, NY | $2,325,151 | $1,238,406 |
Pittsburgh Arts & Lectures Inc Pittsburgh, PA | $5,949,757 | $1,196,864 |
Writers And Books Inc Rochester, NY | $929,486 | $636,824 |
Nuyorican Poets Cafe Inc New York, NY | $25,372,996 | $4,917,152 |
Thoreau Society Inc Concord, MA | $424,719 | $499,367 |
Bloomsburg Public Library Bloomsburg, PA | $4,222,043 | $456,128 |