Richmond Cycling Corps
- Assets
- $59.4k
- Revenue
- $238.5k
- Investments
- $5.8k
- Employees
- 6
- Location
- Richmond, VA
- Founding
- 05/2001
- Data as of
- 12/2022
- EIN
- 58-2508155
Organization Overview
Richmond Cycling Corps is located in Richmond, VA. The organization was established in 2001. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Richmond Cycling Corps employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond Cycling Corps 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 12/2022, Richmond Cycling Corps generated $238.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $236.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (9.8%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RICHMOND CYCLING CORPS PURPOSE IS TO CHANGE THE LIVES OF YOUTH WHO LIVE IN RICHMOND'S PUBLIC HOUSING PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Kuhn Executive Di | OfficerTrustee | 40 | $45,011 |
Kate Hoof Board Chair | OfficerTrustee | 1 | $0 |
Lauren Kern Treasurer | OfficerTrustee | 1 | $0 |
Natima Jones Director | Trustee | 0.5 | $0 |
Lakeshia Allen Director | Trustee | 0.5 | $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 | $220,576 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $220,576 |
| Total Program Service Revenue | $17,949 |
| Investment income | $0 |
| 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 | $238,525 |
| 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. | $45,011 |
| Compensation of current officers, directors, key employees. | $2,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,482 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,493 |
| Payroll taxes | $9,856 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,283 |
| Advertising and promotion | $500 |
| Office expenses | $2,130 |
| Information technology | $1,813 |
| Royalties | $0 |
| Occupancy | $12,003 |
| Travel | $15,470 |
| 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 | $3,624 |
| All other expenses | $9,003 |
| Total functional expenses | $236,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,782 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,814 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,760 |
| Total assets | $59,356 |
| 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 | $59,356 |
| 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 | $59,356 |