We-Cycle

Analysis

We-Cycle is a registered charity in United States, based in Aspen, CO. It received its IRS tax-exemption ruling in November 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, We-Cycle reported income of $3.1m and spending of $3.1m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $623k to $3.1m (+402%), an average of +50% a year. The sharpest change came in the year to December 2022, when income rose by 88%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, We-Cycle sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within CO. Charities of a similar size with the same main cause include International Association of Fire Fighters Foundation ($3.1m), Journeys Supported Living Services ($3.1m) and Good Neighbor House ($3.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 9.0% of the total. Compensation of current officers, directors and key employees was $121k (3.9% of expenses). At year end it held assets of $2.2m against liabilities of $1.1m, net assets of $1.1m. It reported 24 employees.