Bearings Bike Shop Inc

Analysis

Bearings Bike Shop Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in October 2012, 14 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Bearings Bike Shop Inc reported income of $1.3m and spending of $1.2m, spending 89% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $839k to $1.3m (+59%), an average of +12% a year. The sharpest change came in the year to March 2023, when income rose by 39%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bearings Bike Shop Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within GA. Charities of a similar size with the same main cause include Hope-Homeless Outreach Providing Encouragement ($1.3m), Alaska Adoption Services ($1.3m) and Anns Place Inc ($1.3m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 80% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $106k (8.9% of expenses). Other salaries and wages came to $457k. At year end it held assets of $3.0m against liabilities of $57k, net assets of $3.0m. It reported 22 employees.