Gearin Up Bicycles

Analysis

Gearin Up Bicycles is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in April 2013, 13 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 December 2023, Gearin Up Bicycles reported income of $50k and spending of $60k, spending 120% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $316k to $50k (-84%), an average of -31% a year. The sharpest change came in the year to December 2023, when income dropped by 86%. 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, Gearin Up Bicycles sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 10th percentile within DC. Charities of a similar size with the same main cause include Circle of Vietnamese Parents Inc ($50k), Club 180 Children Feeding Development Center Inc ($50k) and Mustardseed Inc ($50k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. Other salaries and wages came to $20k. At year end it held assets of $15k against liabilities of $1,661, net assets of $13k. It reported 2 employees.