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USA Cycling Development Foundation FY2022 filing

Tax-deductible

Colorado Spgs, CO501(c)(3)Since 1994Recreation & Sports EIN 84-1529751Revenue $2.7M in FY2022

On file with the IRSusacycling.org/foundation210 USA Cycling Pt Ste 100, 80919-2215 · Colorado Spgs, COTax-exempt since Jun 2024Publicly supported charity — 170(b)(1)(A)(vi)

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To provide financial support to USA Cycling, INC.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
2 of 5
filings with a surplus
Average surplus $473K a year · 15% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Plus $2.4M in investments, Pt X · Ln 11–13
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
9
named funders · $811K
Looks good: 9 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2.4M
56% of total assets
Fine: liabilities are 56% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.7M
+53% vs prior year
Spent
$3.1M
To programs
82%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$2.7M
FY2022▲ +53%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$1.8M
FY2022$2.7M
FY2023$3.9M
FY2024$5.6M
Expenses
$3.1M
FY2022▲ +33%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.1M
FY2021$2.3M
FY2022$3.1M
FY2023$3.5M
FY2024$2.6M
Net assets
$1.9M
FY2022▼ -33%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2M
FY2021$2.9M
FY2022$1.9M
FY2023$3.7M
FY2024$6.3M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Jun 2024.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $2.5M Management & general 6% · $192K Fundraising 12% · $372K

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

22 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Mick Hellman
Vice-President/Secretary
$0Pt VII · Sec A
Matthew Barger
President, Chairman of the
$0Pt VII · Sec A
Michael Linn
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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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.

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Provided by the organization

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1 program · $2.5M · in their own filed words · FY2022
01

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

$2.5Mprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.7M
Ln 12
Gifts and grantsLn 1h$2.5M
Other incomeLn 4–11$115K
Investment incomeLn 3$103K
Money outPt IX
$3.1M
Ln 25
Programscol B$2.5M
Managementcol C$192K
Fundraisingcol D$372K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$4.3M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
22
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Noncash giftsLn 1g$195K
Fundraising eventsLn 1c$169K
Investment incomeLn 3$103K
Other incomeLn 4–11$115K
Gains on assetsLn 7$24K
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$2.4M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$4.3M
LiabilitiesLn 26$2.4M
Net assetsLn 32$1.9M
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
LineStart FY22End FY22
Cash and savingsLn 1–2$429K$1.2M
InvestmentsLn 11–13$2.9M$2.4M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$3.4M$4.3M
LiabilitiesLn 26$585K$2.4M
Net assetsLn 32$2.9M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.3M$2.3M
Grants to domestic individualsLn 2$124K$124K
Management feesLn 11a$448K$92K$117K$239K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$9K$9K
Other fees for servicesLn 11g$12K$1K$10K$1K
Office expensesLn 13$23K$3K$4K$16K
Information technologyLn 14$16K$3K$12K
TravelLn 17$117K$24K$30K$62K
Conferences, conventions and meetingsLn 19$20K$4K$16K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$30K$4K$664$25K
All other expensesLn 24e$156$156
Total functional expensesLn 25$3.1M$2.5M$192K$372K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5.6M$2.6M$3.0M$6.3M 990 PDF
FY2023 $3.9M$3.5M$329K$3.7M 990 PDF
FY2022 Viewing $2.7M$3.1M−$366K$1.9M 990 PDF
FY2021 $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 R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $2,700,161 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,638,150$2,482,322
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $129,132$103,183
I-11 Other revenuePrior year $689$114,656
I-12 Total revenuePrior year $1,767,971$2,700,161
I-13 Grants and similar amounts paidPrior year $1,767,256$2,377,767
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 $544,167$688,226
I-18 Total expensesPrior year $2,311,423$3,065,993
I-19 Revenue less expensesPrior year −$543,452−$365,832
Part VI · Governance 21 of 21 board members independent, 2 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
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 $2,700,161 across 9 lines filed
VIII-1c Fundraising events$169,162
VIII-1f All other contributions, gifts and grants$2,313,160
VIII-1g Noncash contributions (included above)$195,308
VIII-1h Total contributions, gifts and grants$2,482,322
VIII-3 Investment incomeExcluded from tax $78,828$78,828
VIII-5 RoyaltiesExcluded from tax $614$614
VIII-7 Net gain or loss on sales of assetsExcluded from tax $24,355$24,355
VIII-8 Net income from fundraising eventsExcluded from tax $114,042$114,042
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $217,839$2,700,161
Part IX · Statement of functional expenses $3,065,993 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $2,253,884$2,253,884
IX-2 Grants to domestic individualsPrograms $123,883$123,883
IX-11a Management feesPrograms $91,652 · Management $116,961 · Fundraising $239,073$447,686
IX-11b Legal feesManagement $5,627$5,627
IX-11c Accounting feesManagement $5,241$5,241
IX-11f Investment management feesManagement $9,496$9,496
IX-11g Other fees for servicesPrograms $1,195 · Management $9,655 · Fundraising $1,360$12,210
IX-13 Office expensesPrograms $2,802 · Management $4,024 · Fundraising $16,097$22,923
IX-14 Information technologyManagement $3,430 · Fundraising $12,465$15,895
IX-17 TravelPrograms $23,870 · Management $30,462 · Fundraising $62,265$116,597
IX-19 Conferences, conventions and meetingsManagement $4,389 · Fundraising $15,946$20,335
IX-23 InsuranceManagement $2,091$2,091
IX-24 Other expenses (24a–d)Programs $4,086 · Management $664 · Fundraising $25,219$29,969
IX-24e All other expensesManagement $156$156
IX-25 Total functional expensesPrograms $2,501,372 · Management $192,196 · Fundraising $372,425$3,065,993
Part X · Balance sheet $4,308,308 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $428,720$1,242,649
X-3 Pledges and grants receivable$319,875
X-4 Accounts receivableStart of year $96,329$249,644
X-9 Prepaid expenses and deferred chargesStart of year $2,361$81,476
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $2,911,124$2,414,662
X-12 Other securitiesStart of year $2$2
X-16 Total assetsStart of year $3,439,986$4,308,308
X-17 Accounts payable and accrued expensesStart of year $11,404$179,722
X-25 Other liabilitiesStart of year $573,613$2,224,957
X-26 Total liabilitiesStart of year $585,017$2,404,679
X-27 Net assets without donor restrictionsStart of year $2,055,442$695,995
X-28 Net assets with donor restrictionsStart of year $799,527$1,207,634
X-32 Total net assets or fund balancesStart of year $2,854,969$1,903,629
X-33 Total liabilities and net assetsStart of year $3,439,986$4,308,308
Part XI · Reconciliation of net assets $1,903,629 net assets at year end
XI-1 Total revenue$2,700,161
XI-2 Total expenses$3,065,993
XI-3 Revenue less expenses−$365,832
XI-4 Net assets at start of year$2,854,969
XI-5 Net unrealized gains (losses) on investments−$585,508
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,903,629

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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