Civic Intelligence

Foundation Cycling New York Inc

EIN 27-0475687 • 501(c)3 • New York, NY

Profile

Foundation is organized and operated exclusively to foster national and international amateur cycling competition and to support and primarily develop amateur cycling athletes for national and international competition.

201 East 77th Street 8efNew York, NY 10075

foundationcyclingnewyork.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.66x

Higher debt load relative to assets than 91% of similar nonprofits.

NTEE N70 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

0.51x

Higher debt load relative to revenue than 94% of similar nonprofits.

NTEE N70 • <$500k nonprofits • Source year 2024

Net Margin

74th percentile

22%

Higher net margin than 74% of similar nonprofits.

NTEE N70 • <$500k nonprofits • Source year 2024

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE N70 • <$500k nonprofits • Source year 2024

Asset Growth

79th percentile

64%

Faster asset growth than 79% of similar nonprofits.

NTEE N70 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

79th percentile

49%

Faster revenue growth than 79% of similar nonprofits.

NTEE N70 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$110,589

Up $43,132 (+64%) from 2023

Liabilities

Up

$72,999

Up $12,146 (+20%) from 2023

Net Assets

Up

$37,590

Up $30,986 (+469%) from 2023

Operations
Liabilities / Revenue94th percentileNet Margin74th percentile

Revenue

Up

$142,874

Up $46,735 (+49%) from 2023

Expenses

Down

$111,888

Down $4,533 (-3.9%) from 2023

Net Income

Up

$30,986

Up $51,268 (+253%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth79th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150K$100K$50K$0-$50KAssets 2011: $11,087Liabilities 2011: $17,153Net Assets 2011: -$6,0662011Assets 2012: $49,995Liabilities 2012: $58,300Net Assets 2012: -$8,3052012Assets 2013: $95,300Liabilities 2013: $85,467Net Assets 2013: $9,8332013Assets 2014: $80,625Liabilities 2014: $89,495Net Assets 2014: -$8,8702014Assets 2015: $93,581Liabilities 2015: $91,473Net Assets 2015: $2,1082015Assets 2016: $82,914Liabilities 2016: $84,760Net Assets 2016: -$1,8462016Assets 2017: $45,925Liabilities 2017: $33,000Net Assets 2017: $12,9252017Assets 2018: $45,911Liabilities 2018: $40,250Net Assets 2018: $5,6612018Assets 2019: $83,130Liabilities 2019: $70,538Net Assets 2019: $12,5922019Assets 2020: $71,774Liabilities 2020: $57,750Net Assets 2020: $14,0242020Assets 2021: $98,818Liabilities 2021: $67,881Net Assets 2021: $30,9372021Assets 2022: $80,249Liabilities 2022: $53,363Net Assets 2022: $26,8862022Assets 2023: $67,457Liabilities 2023: $60,853Net Assets 2023: $6,6042023Assets 2024: $110,589Liabilities 2024: $72,999Net Assets 2024: $37,5902024

Highlighted filing

2024

Assets$110,589
Liabilities$72,999
Net Assets$37,590
Open 2024 Filing

Operations Trend

Revenue Growth79th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$150K$100K$50K$0-$50KRevenue 2011: $99,957Expenses 2011: $102,106Net Income 2011: -$2,1492011Expenses 2012: $177,4572012Revenue 2013: $156,605Expenses 2013: $138,467Net Income 2013: $18,1382013Revenue 2014: $103,317Expenses 2014: $122,020Net Income 2014: -$18,7032014Revenue 2015: $138,521Expenses 2015: $127,543Net Income 2015: $10,9782015Revenue 2016: $145,417Expenses 2016: $149,371Net Income 2016: -$3,9542016Revenue 2017: $144,461Expenses 2017: $129,690Net Income 2017: $14,7712017Revenue 2018: $71,063Expenses 2018: $78,327Net Income 2018: -$7,2642018Revenue 2019: $74,384Expenses 2019: $67,453Net Income 2019: $6,9312019Revenue 2020: $100,142Expenses 2020: $98,710Net Income 2020: $1,4322020Revenue 2021: $153,831Expenses 2021: $136,918Net Income 2021: $16,9132021Revenue 2022: $163,744Expenses 2022: $167,795Net Income 2022: -$4,0512022Revenue 2023: $96,139Expenses 2023: $116,421Net Income 2023: -$20,2822023Revenue 2024: $142,874Expenses 2024: $111,888Net Income 2024: $30,9862024

Highlighted filing

2024

Revenue$142,874
Expenses$111,888
Net Income$30,986
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$110,589
Liabilities
$72,999
Net assets
$37,590
Revenue
$142,874
Expenses
$111,888
Net income
$30,986
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.11$0.73$0.38$1.43$1.12$0.31
2023Detailed filing. Detailed filing data is available for this year.$0.67$0.61$0.07$0.96$1.16$0.20
2022Detailed filing. Detailed filing data is available for this year.$0.80$0.53$0.27$1.64$1.68$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.99$0.68$0.31$1.54$1.37$0.17
2020Detailed filing. Detailed filing data is available for this year.$0.72$0.58$0.14$1.00$0.99$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.83$0.71$0.13$0.74$0.67$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.46$0.40$0.06$0.71$0.78$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.46$0.33$0.13$1.44$1.30$0.15
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.85$0.02$1.45$1.49$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.94$0.91$0.02$1.39$1.28$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.81$0.89$0.09$1.03$1.22$0.19
2013Detailed filing. Detailed filing data is available for this year.$0.95$0.85$0.10$1.57$1.38$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.58$0.08$1.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.17$0.06$1.00$1.02$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$142,874
Mission and Program Overview

Mission

Foundation is organized and operated exclusively to foster national and international amateur cycling competition and to support and primarily develop amateur cycling athletes for national and international competition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$67,766-
Savings and Temporary Cash Investments$46,823$0▼ $46,823
Prepaid Expenses and Deferred Charges$20,634$42,823▲ $22,189
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$67,457$110,589▲ $43,132
Other Assets Total-$0-
Liabilities
Deferred Revenue$60,853$72,999▲ $12,146
Total Liabilities$60,853$72,999▲ $12,146
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,604$37,590▲ $30,986
Total Net Assets Fund Balance$6,604$37,590▲ $30,986
Total Liabilities and Net Assets / Fund Balance$67,457$110,589▲ $43,132
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Richard WolfPresident
Jill WolfCEO
Stephen MagyeraSecretary
Dave GarguiloTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$142,861
Program Service Revenue
$0
Investment Income
$13
Other Revenue
$0
All Other Contributions
$142,861
Change in Net Assets
$30,986
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$111,888
Total Fundraising Expense$2,152
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$419$3,885-$4,304
Other Expenses$8,704-$2,133$2,133
All Other Expenses$672$61$14$747
Office Expenses$246$22$5$273
Total Functional Expenses$105,768$3,968$2,152$111,888
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Richard WolfPresidentRent ReimbursementNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“There is a married relationship both the Board President and the Secretary.”

Form 990, Part VI, Section B, Line 11B

“The treasurer is given a copy of the form 990 to review. After his review, comments are presented in writing for further discussion and comments in order to finalize and file the form 990.”

Form 990, Part VI, Section C, Line 19

“Documents available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Foundation Cycling New York Inc
EIN
27-0475687
Phone
2129803800
Address
201 EAST 77TH STREET 8EF, NEW YORK, NY 10075

Signing Officer

Name
Richard Wolf
Title
President
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
De
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Gruber Palumberi Raffaele Fried CPAs PC
Address
7 Penn Plaza Suite 310, New York, NY 10001
Preparer
Bart Raffaele CPA
Phone
2125860800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Foundation accounts for income taxes in accordance with income tax accounting guidance in Financial Accounting Standards Board Accounting Standard Codification (ASC) 740, Income Taxes. The Foundation evaluates its activities annually for potential tax positions that might be considered uncertain and is not aware of any such positions.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation accounts for income taxes in accordance with income tax accounting guidance in Financial Accounting Standards Board Accounting Standard Codification (ASC) 740, Income Taxes. The Foundation evaluates its activities annually for potential tax positions that might be considered uncertain and is not aware of any such positions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0PRESIDENT
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RENT REIMBURSEMENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0There is a married relationship both the Board President and the Secretary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER IS GIVEN A COPY OF THE FORM 990 TO REVIEW. AFTER HIS REVIEW, COMMENTS ARE PRESENTED IN WRITING FOR FURTHER DISCUSSION AND COMMENTS IN ORDER TO FINALIZE AND FILE THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD WOLF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION CYCLING NEW YORK INC
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0270475687
ReturnHeader/Filer/PhoneNum02129803800
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 EAST 77TH STREET 8EF
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132696850
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Gruber Palumberi Raffaele Fried CPAs PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07 Penn Plaza Suite 310
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010001
ReturnHeader/PreparerPersonGrp/PhoneNum02125860800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BART RAFFAELE CPA
ReturnHeader/ReturnTs02025-11-17T06:24:54-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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