Bearings Bike Shop Inc
- Assets
- $2.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 21
- Location
- Atlanta, GA
- Founding
- 10/2012
- Data as of
- 03/2023
- EIN
- 45-4335893
Organization Overview
Bearings Bike Shop Inc, operating under the name Bearings Bike Works, is located in Atlanta, GA. The organization was established in 2012. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 03/2023, Bearings Bike Works employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bearings Bike Works 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 03/2023, Bearings Bike Works generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $1.0m during the year ending 03/2023. While expenses have increased by 22.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BEARINGS BIKE WORKS PUTS THE RIGHT TOOLS IN THE HANDS OF YOUTH, ENABLING THEM TO ADVANCE THEIR SKILLS TO BUILD PRODUCTIVE LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS INCLUDE: SKILLS FOR LIFE IS A DROP-IN AFTER SCHOOL PROGRAM. TO OUR KIDS, BEARINGS IS KNOWN AS THE PLACE WHERE YOU CAN EARN A BIKE AND KEEP IT IN WORKING ORDER. HOWEVER, OUR THOUGHTFUL PROGRAM DESIGN GOES WELL BEYOND THAT AND DRAWS UPON BEST PRACTICES IN YOUTH DEVELOPMENT, STEM CURRICULUM AND EXPOSURE AND PRE- EMPLOYMENT PREPARATION. GEARING UP IS BEARINGS' SCHOOL PARTNERSHIP PROGRAM THAT OFFERS HANDS-ON, STUDENT CENTERED LEARNING EXPERIENCES THAT ACTIVATE LESS TRADITIONAL LEARNING STYLES. WE USE AUTHENTIC EXPERIENCES TO TEACH THE SOCIAL-EMOTIONAL SKILLS THAT CAN MAKE A DIFFERENCE IN THE CLASSROOM AND BEYOND. YOUTH MOUNTAIN BIKING TEAM IS A COMPETITIVE CYCLING PROGRAM THAT PROMOTES MOUNTAIN BIKING AS A LIFE-LONG ACTIVITY FOR GOOD HEALTH AND CREATES A UNIQUE ENVIRONMENT FOR SKILLS DEVELOPEMNT. THE PROGRAM AIMS TO INCREASE ACCESS TO THE SPORT OF MOUNTAIN BIKING AND PROVIDE OPPORTUNITIES FOR SPORT-BASED DEVELOPEMENT, COACHING STUDENTS BOTH ON AND OFF THE BIKE DURING SOME OF THEIR MOST FORMATIVE YEARS. FRAMEWORKS IS A WORKFORCE DEVELOPMENT PROGRAM FOR TEENS AND YOUNG ADULTS THAT CREATES SKILLS-BUILDING OPPORTUNITIES THROUGH REAL-LIFE WORK EXPERIENCE IN THE CONTEXT OF A BIKE SHOP. IN ADDITION TO ON-THE-JOB TRAINING, STUDENTS PARTICIPATE IN CAREER AND PERSONAL DEVELOPMENT OPPORTUNITIES LIKE FINANCIAL LITERACY CLASSES, ADVANCED MECHANICAL TRAINING, AND VOCATIONAL FIELD TRIPS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy O'mara Executive Di | OfficerTrustee | 40 | $107,500 |
Stacye Brim Chairwoman | OfficerTrustee | 2 | $0 |
Alex Dominguez Board Member | Trustee | 1 | $0 |
Eddie Ferguson Board Member | Trustee | 1 | $0 |
Jim Lokey Board Member | Trustee | 1 | $0 |
Evan Longstreth Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $117,404 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,014,879 |
| Noncash contributions included in lines 1a–1f | $54,458 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,132,283 |
| Total Program Service Revenue | $60,000 |
| Investment income | $2,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,078 |
| Net Income from Fundraising Events | $1,479 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $157,634 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,351,451 |
| 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. | $107,500 |
| Compensation of current officers, directors, key employees. | $5,912 |
| Compensation to disqualified persons | $43,835 |
| Other salaries and wages | $313,098 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,194 |
| Payroll taxes | $34,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,496 |
| Advertising and promotion | $11,716 |
| Office expenses | $14,143 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,307 |
| Travel | $7,074 |
| 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 | $59,175 |
| Insurance | $0 |
| All other expenses | $231,640 |
| Total functional expenses | $1,022,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,140 |
| Savings and temporary cash investments | $694,226 |
| Pledges and grants receivable | $6,300 |
| 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 | $22,250 |
| Prepaid expenses and deferred charges | $17,656 |
| Net Land, buildings, and equipment | $1,956,161 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,876,733 |
| Accounts payable and accrued expenses | $55,595 |
| Grants payable | $0 |
| Deferred revenue | $12,500 |
| 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 | $68,095 |
| Net assets without donor restrictions | $2,385,392 |
| Net assets with donor restrictions | $423,246 |
| 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 | $2,876,733 |