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 organization's governing body for any comments prior to its submission. The governing body is provided with a reasonable amount of time to review the 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 immediatley. The member will not be allowed to vote or be a part of any decision about any such transaction that have to do with the conflict until such time that there is no longer a conflict.”

“The compensation of the organization's officers are key employees is reviewed and approved by the board of trustees, an independent body.”

“Pedals for progess makes its form 990 available for public inspection as required under sectiion 6104 of the internal revenue code on the organization's website at www.p4p.org and upon written request at the organization's office at po box 312, 86 e main street, high bridge, nj 08829. In addition, form 1023 as well as the financial statements are available upon request.”

“To empower sustainable economic development by recycling bicycles and sewing machines from the us 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 into an enterprise that has cumulatively collected and distributed over 162,000 bicycles and over 5,200 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/sewing peace 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 manamgement 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 united states and are sent to nonprofit partner organizations, which hold sewing classes and distribute the machines to create employment.”