SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
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OMB No. 1545-0047
2021
Open to Public
Inspection
Name of the organization
VELOCIPEDE BIKE PROJECT Inc
 
Employer identification number

76-0813009
Return Reference Explanation
Form 990, Header, Line C With the COVID-19 pandemic continuing into its third year, Velocipede Bike Project, Inc.'s FY 2021 (July 1, 2021 through June 30, 2022) operations, as well as those of its suppliers, vendors, donors, and other key stakeholders, remain impacted. Open Shop activity was strictly limited to individual appointments for all of FY 2021, yet we were able to serve 298 individual shop-use sessions. Additionally, the organization was unable to have any in-person classes from July through September. Initially, when classes resumed in October, the number of participants was limited due to social distancing. This resulted in a loss of $575 in class fees, as well as approximately twelve bicycles not completed for sale, representing a total loss of approximately $3,000. Most impactful to the organization's operations was the limited number of volunteers who could work in close proximity at any one time, due to social distancing, which situation has significantly slowed our long-term projects and made physical organization in the shop more difficult.
Form 990, Header, Line D U. S. taxpayers, including not-for-profit, tax-exempt entities, wishing to perpetuate their de minimis safe-harbor election from year to year, are required to append such election, annually and every tax year, to the rear of the return's filing. Such attachment, however, is not easily feasible with electronic filing. In lieu thereof, such election is made here, having the same force as if appended. Section 1.263(A)-1(F) De Minimis Safe-Harbor Election. Taxpayer Name: Velocipede Bike Project, Inc.; Taxpayer Address: P.O. Box 22562, Baltimore, MD 21203-4562; Taxpayer FEIN: 76-0813009. Taxpayer, for FY2021, hereby makes the de minimis safe-harbor election under Regulation 1.263(A)-1(F).
Form 990, Part III, Line 3 Due to the continuing COVID-19 pandemic, we have been unable to resume all of our usual programming. Although classes resumed in a limited capacity in October 2021, all of our other activities continued to be conducted by appointment only. Despite this obstacle, in FY 2021 (July 1, 2021 through June 30, 2022), we had 298 appointments, 143 Bike Build sessions, 27 warehouse work sessions, and hundreds of scheduled, in-person shopping sessions for bicycle parts. We had fifteen class participants in four classes of six sessions each, we received 259 bicycle donations, and donated 109 bicycles to partner nonprofits. In March 2022, following the sale of a local bicycle shop having multiple locations, we received a substantial donation of new parts and consumables. This enabled us to increase sales by offering a larger range of new parts to in-store customers, sell specialty items through online platforms, and have a greater selection of parts to refurbish the bicycles we sell. We also distributed a large portion of the donation to partner organizations serving different populations and neighborhoods in Baltimore City, as well as abroad. Receiving and processing this sizable donation occupied approximately 450 volunteer hours.
Form 990, Part VI, Section B, Line 11b Copies of the draft 2021 Form 990 and supporting schedules have been reviewed, first by officers of the corporation, and second by remaining members of the Board of Directors. All parties reviewed the data and had an opportunity to offer refinements to narrative language, as well as the overall presentation. The independent accountant also reviewed this draft. The finalized 2021 Form 990 package was provided to the Board of Directors before it was electronically filed with IRS, and the finalized 2021 Form 990 and supporting schedules were submitted to IRS shortly after approval.
Form 990, Part VI, Section B, Line 12c A conflict-of-interest policy is described in the Bylaws of the corporation, and membership to the Board of Directors requires agreement to such policy. Members must disclose potential conflicts of interest before any discussion including such interest commences. Board members who are determined to have a conflict of interest are required to recuse themselves from voting on such matters for which they have a conflict.
Form 990, Part VI, Section B, Line 15 The corporation has never had employees. Nevertheless, should any be added, and in contemplation of any new hiring, management would consult industry pay scales and associations for guidance, documenting such information, findings, and decision-making in contemporaneous minutes of Board of Directors meetings.
Form 990, Part VI, Section C, Line 19 The organization maintains copies of its governing documents, conflict-of-interest policy, and financial statements, which are available for inspection, by request, during regular business hours. The organization complies with all requests (written or oral) for copies of these documents.
Form 990, Part IX, Line 24e food, $221; gasoline, $144; new location, $165; other, $97; parking, $61; penalty, $76; refunds, $502; shipping; $591; supplies-general, $70; cost of goods sold, $10,214.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021


Additional Data


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