Second Chance Bikes

Analysis

Second Chance Bikes is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in May 2018, 8 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, Second Chance Bikes reported income of $117k and spending of $83k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $79k to $117k (+48%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Second Chance Bikes sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 46th percentile within SC. Charities of a similar size with the same main cause include United to Believe NFP ($117k), Circles of Troup County Inc ($117k) and Sugar Bear Foundation ($117k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 40% of the total. At year end it held assets of $86k against liabilities of $0, net assets of $86k.