Phoenix Bikes

Analysis

Phoenix Bikes is a registered charity in United States, based in Arlington, VA. It received its IRS tax-exemption ruling in June 2008, 18 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Phoenix Bikes reported income of $754k and spending of $665k, spending 88% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $338k to $754k (+123%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Phoenix Bikes sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include South Mississippi Soccer Club Inc ($753k), Camp Cedarbrook in the Adirondacks Inc ($755k) and Volleyfx Volleyball Club Inc ($753k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $85k (13% of expenses). Other salaries and wages came to $317k. At year end it held assets of $492k against liabilities of $12k, net assets of $481k. It reported 28 employees.