USA Cycling Development Foundation EIN 84-1529751 Form 990 (PDF) Claim this org

USA Cycling Development Foundation

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Supports USA Cycling financially to advance the sport. For fiscal year 2024 it reported $5.6M in revenue, $2.6M in expenses, and $6.3M in net assets.Pt I

Founded
1994
Type
Public charity (501(c)(3)) · Recreation & Sports
Location
Colorado Springs, CO
Website
www.usacycling.org/foundation
Filings
5 on file (2020–2024)
Revenue
$5.6MFY2024
Expenses
$2.6M
Net assets
$6.3M
People
24
Filings
5
Updates
0
More identity details & actions ⌄
EIN  84-1529751 Public charity (501(c)(3)) Colorado Springs, CO Founded 1994
Form 990 (PDF)
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Figures match the IRS filing checked 9/1/26 · see original: IRS
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Size
$1–10M
What they do
Supports USA Cycling financially to advance the sport.
Leadership
Thomas Weisel · Director
Money in and out
$5.6M revenue, $2.6M expenses
Bottom line
55% program efficiency
Where the money goes · FY2024
Total revenue
$5.6M
Pt VIII · Ln 12
Total expenses
$2.6M
Pt IX · Ln 25
Net assets
$6.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $3.0M
Where spending went · Part IX cols B–D
Program services $0.55 Management & general $0.08 Fundraising $0.37
Program efficiency
55%
of spending reaches programs▼ -26% vs prior filing year
Operating runway
22.7mo
months of highly liquid reserves at operating expense rate▲ +9% vs prior filing year
Surplus margin
+53%
revenue over expenses, this year▲ +524% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$5.6M
FY2024▲ +45%
Expenses
$2.6M
FY2024▼ -26%
Total assets
$6.5M
FY2024▲ +57%
Total liabilities
$219K
FY2024▼ -49%
Total revenue
$5.6M
Pt VIII · Ln 12
Total expenses
$2.6M
Pt IX · Ln 25
Net assets
$6.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$3.0M
Total assetsPt X · Ln 16$6.5M
Program-expense ratioPt IX · col B55%
Voting members of governing bodyPt I · Ln 321
Independent voting membersPt I · Ln 421
Mission & Programs · Part III

Where the work happens

1 program service account for $1.5M of program spending, described in the organization's own filed words · FY2024.
01

Provided grants & other reimbursements to usa cycling, inc., usa cycling clubs, and athletes for training and competition expenses and management services.

$1.5Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUSA Cycling Development Foundation
EINHdr · item D84-1529751
Principal addressHdr · item CColorado Springs, CO
WebsiteHdr · item Jwww.usacycling.org/foundation
Year of formationHdr · item L1994
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N12)
Ruling yearIRS BMFJun 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a21
Independent voting membersPt VI · Ln 1b21
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice-President/Secretary
$0Pt VII · Sec A
President, Chairman of the
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See USA Cycling Development Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$4.7M · 83%
Investment income$705K · 13%
Other revenue$235K · 4%
Contributions & grants83%$4.7M
Investment income13%$705K
Other revenue4%$235K
Total revenueLn 12$5.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.55 Management & general $0.08 Fundraising $0.37
Program services55%$1.5M
Management & general8%$199K
Fundraising37%$970K
Total functional expensesLn 25$2.6M

Balance Sheet

Part X · end of year
CashLn 1$605K
Total assetsLn 16$6.5M
Total liabilitiesLn 26$219K
Total net assetsLn 32$6.3M
Months of cash on handcomputed2.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4.8M · Operating expenses (Pt IX) $2.6M · Less non-cash grants $84K · Cash operating expenses/yr $2.5M
22.7 months
Where the money goes
Program services
Program services $1.5M · Total expenses $2.6M
55%
Management & General
Management & general $199K · Total expenses $2.6M
8%
Fundraising
Fundraising $970K · Total expenses $2.6M
37%
Cost to raise $1
Fundraising expense (3-yr avg) $627K · Solicited contributions (3-yr avg) $3.6M
$0.18 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $4.7M · Total revenue $5.6M
83%
Government reliance
Government grants — · Total revenue $5.6M
Earned-income share
Program service revenue $0 · Total revenue $5.6M
0%
Investment reliance
Investment income $705K · Total revenue $5.6M
+13%
Program self-sufficiency
Program service revenue $0 · Total expenses $2.6M
0%
Growth & trend
Revenue growth (YoY)
This year $5.6M · Prior year $3.9M
+45%
Revenue CAGR
FY2020 $2.1M · FY2024 $5.6M
+29%
Net-asset trend (YoY)
End of year $6.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $5.6M · Expenses $2.6M
+53%
Liabilities-to-Assets
Total liabilities — · Total assets $6.5M
Net-asset ratio
Net assets $6.3M · Total assets $6.5M
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $4.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $6.5M
65%
People & payroll
Highest Reported Total Compensation
Individual Thomas Weisel · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $2.6M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $2.6M
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 55%
Overhead ratio 8%
Fundraising cost ratio 21%
Revenue growth 45%
Investment management fee ratio 0.08%
Legal fee ratio 0.2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 9 funders →
Grants paid · 23 grants · $9.3M · 2020–2024
USA Cycling INCCO · FY2024$1,251,295
USA Cycling INCCO · FY2023$2,341,620
Unitemized GrantFY2023$55,000
Tam CyclingCA · FY2023$9,000
USA Cycling INCCO · FY2022$2,179,134
Unitemized GrantFY2022$123,883
Tam CyclingCA · FY2022$10,000
Lux Development CorpCA · FY2022$7,500
USA Cycling INCCO · FY2021$1,611,012
Unitemized GrantFY2021$63,750
Tam CyclingCA · FY2021$12,000
OutrideCA · FY2021$10,000
USA Cycling INCCO · FY2020$1,569,890
Lux Development CorpCA · FY2020$15,000
Tam CyclingCA · FY2020$6,500
See all 23 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$5.6M revenue · viewing · ⤓ 990 PDF
FY2023$3.9M revenue · ⤓ 990 PDF
FY2022$2.7M revenue · ⤓ 990 PDF
FY2021$1.8M revenue · ⤓ 990 PDF
FY2020$2.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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