Dream Bikes INC FY2021 filing

Tax-deductible

Madison, WI501(c)(3)EducationEIN 26-0596151Revenue $463K in FY2021

On file with the IRSdream-bikes.org1131 N Sherman Ave, 53704-4234 · Madison, WITax-exempt since Mar 2008Publicly supported — 509(a)(2)

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Dream Bikes inc's mission is to provide training and employment opportunities for underprivileged and minority youth, to provide assistance to underprivileged children and you, and to use bicycles as a way to have a positive impact on low income troubled communities.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$66K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $15K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$66K
to officers and key staff · 22% of spending
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$24K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$463K
-27% vs prior year
Spent
$295K
To programs
79%
Net assets
$362K
By yearFY2019–FY2024
Revenue
$463K
FY2021▼ -27%
Revenue by fiscal year
FY2019$679K
FY2020$638K
FY2021$463K
FY2022$208K
FY2023$304K
FY2024$321K
Expenses
$295K
FY2021▼ -50%
Expenses by fiscal year
FY2019$582K
FY2020$588K
FY2021$295K
FY2022$361K
FY2023$355K
FY2024$340K
Net assets
$362K
FY2021▲ +71%
Net assets by fiscal year
FY2019$161K
FY2020$212K
FY2021$362K
FY2022$213K
FY2023$162K
FY2024$143K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $232K Management & general 21% · $62K Fundraising 1% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990; $66K paid to officers and key staff.

Part VII, Section A · reportable compensation
$65,510Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A

Matthew Martinez’s $69K as President is at the 61st percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2022FY2021
Matthew Martinez$69,461$82,500$65,510

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Trains and employs youth, assists children, and uses bikes to positively impact low-income communities.

Provided by the organization

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2 programs · $232K · in their own filed words · FY2021
01

Operation of a resale shop selling student-repaired bicycles, in which the youth will be employed and will learn the fundamentals of bike repair and running a small retail business

$232Kprogram expense
02

Training in the proper use of helmets and bicycle safety.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 2 funders$1K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$463K
Ln 12
Other incomeLn 4–11$338K
Gifts and grantsLn 1h$108K
Investment incomeLn 3$17K
Money outPt IX
$295K
Ln 25
Programscol B$232K
Managementcol C$62K
Fundraisingcol D$2K
Owns and owesPt X
$362K
net assets · Ln 32
Cash and savingsLn 1–2$292K
Total assetsLn 16$386K
LiabilitiesLn 26$24K
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$108K
Investment incomeLn 3$17K
Other incomeLn 4–11$338K
Gains on assetsLn 7$17K
Total revenueLn 12$463K
Assets in detailPt X, end of year
CashLn 1$292K
Cash and savings togetherLn 1–2$292K
Land, buildings, equipmentLn 10c$43K
Other assetsLn 15$1K
Total assetsLn 16$386K
LiabilitiesLn 26$24K
Net assetsLn 32$362K
OperationsPt I, VI
EmployeesI 544
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$222K$292K
Land, buildings, equipmentLn 10c$25K$43K
Total assetsLn 16$294K$386K
LiabilitiesLn 26$82K$24K
Net assetsLn 32$212K$362K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$73K$36K$36K
Payroll taxesLn 10$28K$28K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$8K$5K$3K
OccupancyLn 16$75K$75K
TravelLn 17$6K$6K
InterestLn 20$728$728
Depreciation, depletion and amortizationLn 22$15K$15K$315
InsuranceLn 23$29K$29K
Other expenses (24a–d)Ln 24$32K$30K$3K
All other expensesLn 24e$14K$6K$6K$2K
Total functional expensesLn 25$295K$232K$62K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $321K$340K−$19K$143K 990 PDF
FY2023 $304K$355K−$51K$162K 990 PDF
FY2022 $208K$361K−$153K$213K 990 PDF
FY2021 Viewing $463K$295K$168K$362K 990 PDF
FY2020 $638K$588K$51K$212K 990 PDF
FY2019 $679K$582K$96K$161K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $462,929 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $353,352$107,686
I-9 Program service revenue$0
I-10 Investment incomePrior year −$6,261$16,783
I-11 Other revenuePrior year $291,399$338,460
I-12 Total revenuePrior year $638,490$462,929
I-13 Grants and similar amounts paidPrior year $5,565$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $46,148$100,936
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $535,844$194,073
I-18 Total expensesPrior year $587,557$295,009
I-19 Revenue less expensesPrior year $50,933$167,920
Part VI · Governance 3 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $462,929 across 5 lines filed
Lines not itemized here account for $264,418 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$107,686
VIII-1h Total contributions, gifts and grants$107,686
VIII-7 Net gain or loss on sales of assetsRelated to mission $16,783$16,783
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $74,042$74,042
VIII-12 Total revenueRelated to mission $355,243$462,929
Part IX · Statement of functional expenses $295,009 across 13 lines filed
IX-7 Other salaries and wagesPrograms $36,386 · Management $36,387$72,773
IX-10 Payroll taxesPrograms $28,163$28,163
IX-11c Accounting feesManagement $10,280$10,280
IX-11g Other fees for servicesManagement $2,210$2,210
IX-12 Advertising and promotionPrograms $1,052$1,052
IX-13 Office expensesPrograms $5,201 · Management $2,800$8,001
IX-16 OccupancyPrograms $75,108$75,108
IX-17 TravelPrograms $6,403$6,403
IX-20 InterestManagement $728$728
IX-22 Depreciation, depletion and amortizationPrograms $15,027 · Management $315$15,342
IX-23 InsurancePrograms $28,764$28,764
IX-24 Other expenses (24a–d)Programs $29,503 · Management $2,821$32,324
IX-24e All other expensesPrograms $6,137 · Management $6,015 · Fundraising $1,709$13,861
IX-25 Total functional expensesPrograms $231,744 · Management $61,556 · Fundraising $1,709$295,009
Part X · Balance sheet $385,622 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $221,853$292,197
X-8 Inventories for sale or useStart of year $28,571$49,244
X-10c Land, buildings and equipment, netStart of year $25,107$43,119
X-15 Other assetsStart of year $18,145$1,062
X-16 Total assetsStart of year $293,676$385,622
X-17 Accounts payable and accrued expensesStart of year $65,182$5,673
X-25 Other liabilitiesStart of year $16,549$18,125
X-26 Total liabilitiesStart of year $81,731$23,798
X-27 Net assets without donor restrictionsStart of year $211,945$361,824
X-32 Total net assets or fund balancesStart of year $211,945$361,824
X-33 Total liabilities and net assetsStart of year $293,676$385,622
Part XI · Reconciliation of net assets $361,824 net assets at year end
XI-1 Total revenue$462,929
XI-2 Total expenses$295,009
XI-3 Revenue less expenses$167,920
XI-4 Net assets at start of year$211,945
XI-8 Prior period adjustments−$18,041
XI-10 Net assets at end of year$361,824

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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