Pedals for Progress a New Jersey Nonprofit Corporation

“Pedals for progress has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is provided to the members of the organizations governing body for any comments prior to its submission. The governing body is provided with a reasonable amount of time to review the form 990. Any comments are then grouped, summarized and provided through management to the outside accounting firm. Any applicable issues are addressed until the return is finalized and approved for filing.”

“Pedals for progress currently has in place a conflict of interest policy which it regularly monitors and enforces. The board mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest exists, the governing body and management will investigate the issue. If a conflict of interest is determined to exist management and the governing body will be notified immediately. The member will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time that there is no longer a conflict.”

“The compensation of the organizations officers or key employees is reviewed and approved by the board of trustees an independent body.”

“Pedals for progress makes its form 990 available for public inspection as required under section 6104 of the internal revenue code on the organizations website at www.p4p.org and upon written request at the organizations office at 86 east main street, high bridge, nj 08829. In addition form 1023 as well as the financial statements are available upon request.”

“The united states of america (usa) and shipping them to motivated people in the developing world. Since its inception in 1991 and from the seed of an idea by its founder (a former peace corps volunteer), the organization has grown to an enterprise that has cumulatively collected and distributed over 148,000 bicycles and 3,400 sewing machines to the working poor in central america, africa, eastern europe, asia and the islands of the caribbean and the pacific basin. Through volunteer labor and tax-deductible donations of money and materials, pedals for progress collects, warehouses, and ships new and used bikes, parts and accessories to recipient countries where they are repaired by non-profit, partner organizations (providing employment, building management and repair skills to their staff) and subsequently, sold at cost to help low-income individuals access jobs, markets and services. The sewing machines are refurbished in the usa and are sent to nonprofit partner organizations, which hold sewing classes and distribute the machines to create employment.”

“No change from the prior year.”

“An amended form 990 is being filed as the organization underwent an audit for the fiscal year ending september 30, 2016 and is amending the original form 990 filed to match the audited financial statements. All supporting schedules have been updated should any audit adjustments have affected these schedules.”