My City Rides

Analysis

My City Rides is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, My City Rides reported income of $1.8m and spending of $1.7m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $1.8m (+12%), an average of +2.9% a year. The sharpest change came in the year to December 2020, when income rose by 91%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, My City Rides sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include Southern Sector Rising ($1.8m), Lynchburg Sheltered Industries Inc ($1.8m) and Have Dreams ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $156k (9.1% of expenses). Other salaries and wages came to $496k. At year end it held assets of $4.8m against liabilities of $72k, net assets of $4.8m. It reported 13 employees.