Pedals For Progress A New Jersey Nonprofit Corporation
- Assets
- $106.6k
- Revenue
- $313.7k
- Investments
- $0.0
- Employees
- 5
- Location
- High Bridge, NJ
- Founding
- 02/1993
- Data as of
- 09/2023
- EIN
- 22-3122003
Organization Overview
Pedals For Progress A New Jersey Nonprofit Corporation, operating under the name Sewing Peace, is located in High Bridge, NJ. The organization was established in 1993. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Sewing Peace employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sewing Peace 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 09/2023, Sewing Peace generated $313.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $324.2k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER SUSTAINABLE ECONOMIC DEVELOPMENT BY RECYCLING BICYCLES AND SEWING MACHINES FROM THE US AND SHIPPING THEM TO MOTIVATED PEOPLE IN THE DEVELOPING WORLD. SINCE ITS INCEPTION IN 1991 AND FROM THE SEED OF AN IDEA BY ITS FOUNDER(A FORMER PEACE CORPS VOLUNTEER), THE ORGANIZATION HAS GROWN INTO AN ENTERPRISE THAT HAS CUMULATIVELY COLLECTED AND DISTRIBUTED OVER 162,000 BICYCLES AND OVER 5,200 SEWING MACHINES TO THE WORKING POOR IN CENTRAL AMERICA, AFRICA, EASTERN EUROPE, ASIA AND THE ISLANDS OF THE CARIBBEAN AND THE PACIFIC BASIN. THROUGH VOLUNTEER LABOR AND TAX-DEDUCTIBLE DONATIONS OF MONEY AND MATERIALS, PEDALS FOR PROGRESS/SEWING PEACE COLLECTS, WAREHOUSES, AND SHIPS NEW AND USED BIKES, PARTS AND ACCESSORIES TO RECIPIENT COUNTRIES WHERE THEY ARE REPAIRED BY NON-PROFIT PARTNER ORGANIZATIONS (PROVIDING EMPLOYMENT, BUILDING MANAGEMENT AND REPAIR SKILLS TO THEIR STAFF)AND SUBSEQUENTLY, SOLD AT COST TO HELP LOW-INCOME INDIVIDUALS ACCESS JOBS, MARKETS AND SERVICES. THE SEWING MACHINES AR
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEDALS FOR PROGRESS/SEWING PIECE'S PRIMARY EXEMPT PURPOSE IS TO SUPPLY, VIA CHARITY PARTNERS OVERSEAS, RECONDITIONED AND USED BICYCLES TO LOW-INCOME FAMILIES IN NEED OF AFFORDABLE TRANSPORTATION FOR PRODUCTIVE PURPOSES. ALSO TO PROVIDE REFURBISHED SEWING MACHINES, VIA CHARITY PARTNERS OVERSEAS, WHICH HOLD SEWING CLASSES AND DISTRIBUTE THE MACHINES TO CREATE EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Schultz President | Officer | 40 | $44,333 |
David Schweidenback VP & Trustee | OfficerTrustee | 30 | $25,000 |
Jamie Acosta Trustee | OfficerTrustee | 2 | $0 |
Jerry Agasar Trustee | Trustee | 2 | $0 |
John Alexander Trustee & Ch | OfficerTrustee | 2 | $0 |
Thomas Beishke Trustee | Trustee | 1 | $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 | $277,353 |
| Noncash contributions included in lines 1a–1f | $123,957 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $277,353 |
| Total Program Service Revenue | $33,500 |
| Investment income | $2,856 |
| 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 | $313,709 |
| 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 | $142,039 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $69,333 |
| Compensation of current officers, directors, key employees. | $3,466 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $847 |
| Pension plan accruals and contributions | $6,650 |
| Other employee benefits | $0 |
| Payroll taxes | $6,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,824 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,602 |
| Travel | $3,249 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $209 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $864 |
| Insurance | $5,000 |
| All other expenses | $3,057 |
| Total functional expenses | $324,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,040 |
| Savings and temporary cash investments | $69,188 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,558 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,730 |
| Investments—publicly traded securities | $7,132 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $106,648 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $106,648 |
| Net assets with donor restrictions | $0 |
| 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 | $106,648 |