USA Cycling Development Foundation: FY2021 Nonprofit Profile & Form 990 (EIN 84-1529751)

Revenue by fiscal year
FY2020	$2.1M
FY2021	$1.8M
FY2022	$2.7M
FY2023	$3.9M
FY2024	$5.6M

Expenses by fiscal year
FY2020	$2.1M
FY2021	$2.3M
FY2022	$3.1M
FY2023	$3.5M
FY2024	$2.6M

Net assets by fiscal year
FY2020	$3.2M
FY2021	$2.9M
FY2022	$1.9M
FY2023	$3.7M
FY2024	$6.3M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2024.

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

Where the money goes

83 cents of each dollar spent went to programs.

83%

12%

Program services 83% · $1.9M Management & general 5% · $112K Fundraising 12% · $280K

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

20 people listed on the 990.

Part VII, Section A · reportable compensation

Thomas Weisel

Director

$0Pt VII · Sec A

Mick Hellman

Vice-President/Secretary

$0Pt VII · Sec A

Matt Barger

President, Chairman of the Board

$0Pt VII · Sec A

Michael Linn

Director

$0Pt VII · Sec A

Robert L Emery

Director

$0Pt VII · Sec A

Michael Patterson

Director

$0Pt VII · Sec A

John Bucksbaum

Director

$0Pt VII · Sec A

Mike Cole

Director

$0Pt VII · Sec A

See USA Cycling Development Foundation executive salaries →

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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

Supports USA Cycling financially to advance the sport.

Provided by the organization

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1 program · $1.9M · in their own filed words · FY2021

01

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

$1.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2024

Fidelity Investments Charitable Gift FundFY2024$363K

Donor Advised Charitable Giving INCFY2024$251K

The San Francisco FoundationFY2024$80K

Crankstart FoundationFY2024$50K

United Way of the Bay AreaFY2024$25K

Marin Community FoundationFY2024$19K

Peco FoundationFY2024$10K

Greater Miami Jewish Federation INCFY2024$8K

Total grants receivedfrom 9 funders$811K

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

Boulder Valley Cycling AllianceCO · FY2023$6,500

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

CT Cycling Advancement Program INCCT · FY2021$10,000

Boulder Valley Cycling AllianceCO · 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 →

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.8M

Ln 12

Gifts and grantsLn 1h$1.6M

Investment incomeLn 3$129K

Other incomeLn 4–11$689

Money outPt IX

$2.3M

Ln 25

Programscol B$1.9M

Managementcol C$112K

Fundraisingcol D$280K

Owns and owesPt X

$2.9M

net assets · Ln 32

Cash and savingsLn 1–2$429K

Total assetsLn 16$3.4M

LiabilitiesLn 26$585K

PeoplePt VI, VII

20

listed · VII A

PaidVII A0

Voting boardVI 1a18

IndependentVI 1b18

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.6M

Noncash giftsLn 1g$50K

Fundraising eventsLn 1c$112K

Investment incomeLn 3$129K

Other incomeLn 4–11$689

Gains on assetsLn 7$57K

Total revenueLn 12$1.8M

Assets in detailPt X, end of year

SavingsLn 2$429K

Cash and savings togetherLn 1–2$429K

InvestmentsLn 11–13$2.9M

Land, buildings, equipmentLn 10c$0

Total assetsLn 16$3.4M

LiabilitiesLn 26$585K

Net assetsLn 32$2.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 65

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$618K	$429K
InvestmentsLn 11–13	$2.5M	$2.9M
Land, buildings, equipmentLn 10c	$0	$0
Total assetsLn 16	$3.2M	$3.4M
LiabilitiesLn 26	$80K	$585K
Net assetsLn 32	$3.2M	$2.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$1.7M	$1.7M
Grants to domestic individualsLn 2	$64K	$64K
Management feesLn 11a	$435K	$150K	$75K	$209K
Accounting feesLn 11c	$7K		$7K
Investment management feesLn 11f	$10K		$10K
Other fees for servicesLn 11g	$19K		$8K	$11K
Advertising and promotionLn 12	$31			$31
Office expensesLn 13	$11K	$538	$2K	$8K
TravelLn 17	$29K	$1K	$6K	$22K
InsuranceLn 23	$4K		$4K
Other expenses (24a–d)Ln 24	$29K			$29K
Total functional expensesLn 25	$2.3M	$1.9M	$112K	$280K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$5.6M	$2.6M	$3.0M	$6.3M	990 PDF
FY2023	$3.9M	$3.5M	$329K	$3.7M	990 PDF
FY2022	$2.7M	$3.1M	−$366K	$1.9M	990 PDF
FY2021 Viewing	$1.8M	$2.3M	−$543K	$2.9M	990 PDF
FY2020	$2.1M	$2.1M	−$35K	$3.2M	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 $1,767,971 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,006,989$1,638,150

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $44,092$129,132

I-11 Other revenuePrior year $4,202$689

I-12 Total revenuePrior year $2,055,283$1,767,971

I-13 Grants and similar amounts paidPrior year $1,622,640$1,767,256

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $467,963$544,167

I-18 Total expensesPrior year $2,090,603$2,311,423

I-19 Revenue less expensesPrior year −$35,320−$543,452

Part VI · Governance 18 of 18 board members independent, 2 to look at

VI-1a Voting members of the governing body18

VI-1b Independent voting members18

VI-2 Family or business relationship among officers or directorsYes

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $1,767,971 across 9 lines filed

VIII-1c Fundraising events$112,180

VIII-1f All other contributions, gifts and grants$1,525,970

VIII-1g Noncash contributions (included above)$49,633

VIII-1h Total contributions, gifts and grants$1,638,150

VIII-3 Investment incomeExcluded from tax $71,997$71,997

VIII-5 RoyaltiesExcluded from tax $689$689

VIII-7 Net gain or loss on sales of assetsExcluded from tax $57,135$57,135

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $129,821$1,767,971

Part IX · Statement of functional expenses $2,311,423 across 11 lines filed

IX-1 Grants to domestic organizationsPrograms $1,703,506$1,703,506

IX-2 Grants to domestic individualsPrograms $63,750$63,750

IX-11a Management feesPrograms $150,474 · Management $74,674 · Fundraising $209,498$434,646

IX-11c Accounting feesManagement $6,661$6,661

IX-11f Investment management feesManagement $10,220$10,220

IX-11g Other fees for servicesManagement $8,029 · Fundraising $10,601$18,630

IX-12 Advertising and promotionFundraising $31$31

IX-13 Office expensesPrograms $538 · Management $2,384 · Fundraising $8,057$10,979

IX-17 TravelPrograms $1,130 · Management $5,924 · Fundraising $22,414$29,468

IX-23 InsuranceManagement $4,059$4,059

IX-24 Other expenses (24a–d)Fundraising $29,473$29,473

IX-25 Total functional expensesPrograms $1,919,398 · Management $111,951 · Fundraising $280,074$2,311,423

Part X · Balance sheet $3,439,986 assets, 15 lines filed

X-2 Savings and temporary cash investmentsStart of year $617,933$428,720

X-4 Accounts receivableStart of year $80,844$96,329

X-8 Inventories for sale or useStart of year $344$1,450

X-9 Prepaid expenses and deferred chargesStart of year $4,558$2,361

X-10c Land, buildings and equipment, netStart of year $0$0

X-11 Publicly traded securitiesStart of year $2,544,409$2,911,124

X-12 Other securitiesStart of year $2$2

X-16 Total assetsStart of year $3,248,090$3,439,986

X-17 Accounts payable and accrued expensesStart of year $10,333$11,404

X-25 Other liabilitiesStart of year $70,062$573,613

X-26 Total liabilitiesStart of year $80,395$585,017

X-27 Net assets without donor restrictionsStart of year $2,386,435$2,055,442

X-28 Net assets with donor restrictionsStart of year $781,260$799,527

X-32 Total net assets or fund balancesStart of year $3,167,695$2,854,969

X-33 Total liabilities and net assetsStart of year $3,248,090$3,439,986

Part XI · Reconciliation of net assets $2,854,969 net assets at year end

XI-1 Total revenue$1,767,971

XI-2 Total expenses$2,311,423

XI-3 Revenue less expenses−$543,452

XI-4 Net assets at start of year$3,167,695

XI-5 Net unrealized gains (losses) on investments$230,726

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$2,854,969

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

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USA Cycling Development Foundation FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV