Civic Intelligence

Midwest Bikeshare Inc.

990 • Fiscal year 2019 • EIN 46-1052766

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

PO Box 235Milwaukee, WI 53201

(414) 931-1121

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.09x

Higher debt load relative to assets than 52% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

0.26x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

5th percentile

-54%

Higher net margin than 5% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

55th percentile

$73,994

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

54th percentile

5.5%

Faster revenue growth than 54% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,918,575

Down $422,977 (-18%) from 2018

Net Assets

Down

$1,739,380

Down $390,675 (-18%) from 2018

Liabilities

Down

$179,195

Down $32,302 (-15%) from 2018

Revenue

Up

$698,613

Up $36,251 (+5.5%) from 2018

Expenses

Down

$1,075,443

Down $156,696 (-13%) from 2018

Net Income

Up

-$376,830

Up $192,947 (+34%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2013: $100,353Liabilities 2013: -$2372013Assets 2014: $504,671Liabilities 2014: $7,603Net Assets 2014: $497,0682014Assets 2015: $1,763,636Liabilities 2015: $29,162Net Assets 2015: $1,734,4742015Assets 2016: $2,500,072Liabilities 2016: $62,788Net Assets 2016: $2,437,2842016Assets 2017: $2,814,248Liabilities 2017: $43,092Net Assets 2017: $2,771,1562017Assets 2018: $2,341,552Liabilities 2018: $211,497Net Assets 2018: $2,130,0552018Assets 2019: $1,918,575Liabilities 2019: $179,195Net Assets 2019: $1,739,3802019Assets 2020: $1,658,897Liabilities 2020: $181,989Net Assets 2020: $1,476,9082020Assets 2021: $1,343,080Liabilities 2021: $98,924Net Assets 2021: $1,244,1562021Assets 2022: $1,840,616Liabilities 2022: $139,947Net Assets 2022: $1,700,6692022Assets 2023: $1,658,168Liabilities 2023: $234,064Net Assets 2023: $1,424,1042023Assets 2024: $1,155,778Liabilities 2024: $377,444Net Assets 2024: $778,3342024

Highlighted filing

2019

Assets$1,918,575
Liabilities$179,195
Net Assets$1,739,380

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2013: $110,967Expenses 2013: $10,647Net Income 2013: $100,3202013Revenue 2014: $519,004Expenses 2014: $147,469Net Income 2014: $371,5352014Revenue 2015: $1,240,482Expenses 2015: $419,105Net Income 2015: $821,3772015Revenue 2016: $1,497,908Expenses 2016: $795,098Net Income 2016: $702,8102016Revenue 2017: $1,464,631Expenses 2017: $1,130,759Net Income 2017: $333,8722017Revenue 2018: $662,362Expenses 2018: $1,232,139Net Income 2018: -$569,7772018Revenue 2019: $698,613Expenses 2019: $1,075,443Net Income 2019: -$376,8302019Revenue 2020: $746,128Expenses 2020: $1,008,600Net Income 2020: -$262,4722020Revenue 2021: $859,331Expenses 2021: $1,092,083Net Income 2021: -$232,7522021Revenue 2022: $1,688,970Expenses 2022: $1,232,457Net Income 2022: $456,5132022Revenue 2023: $1,120,481Expenses 2023: $1,397,046Net Income 2023: -$276,5652023Revenue 2024: $870,629Expenses 2024: $1,516,399Net Income 2024: -$645,7702024

Highlighted filing

2019

Revenue$698,613
Expenses$1,075,443
Net Income-$376,830
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.0
Gross Receipts
$698,613
Mission and Program Overview

Mission

Bublr Bikes delivers a sustainable, excellent bikeshare system for all.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,108,440$1,754,167▼ $354,273
Pledges and Grants Receivable$146,347$73,997▼ $72,350
Accounts Receivable$70,747$60,233▼ $10,514
Cash and Non-Interest-Bearing Accounts$505$10,847▲ $10,342
Savings and Temporary Cash Investments$6,734$8,411▲ $1,677
Prepaid Expenses and Deferred Charges$4,843$7,240▲ $2,397
Inventories for Sale or Use$3,936$3,570▼ $366
Investments in Publicly Traded Securities-$110-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$2,341,552$1,918,575▼ $422,977
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$171,497$93,567▼ $77,930
Other Liabilities$40,000$70,000▲ $30,000
Deferred Revenue-$15,628-
Total Liabilities$211,497$179,195▼ $32,302
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,983,708$1,653,383▼ $330,325
Net Assets With Donor Restrictions$146,347$85,997▼ $60,350
Total Net Assets Fund Balance$2,130,055$1,739,380▼ $390,675
Total Liabilities and Net Assets / Fund Balance$2,341,552$1,918,575▼ $422,977

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,754,167$1,250,136$3,004,303
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James DaviesExecutive DirectorFT$71,780$2,214$73,994
Sally SheperdsonFormer Exec DirectorFT$58,967-$58,967

Board Members and Trustees

NameTitle
Bruce KeyesBoard Chair
Michele BriaPresident
Barry MainwoodVice President
David StammDirector
Deshea AgeeDirector
Eugene ManzanetDirector
Jennifer FergusonDirector
John MillerDirector
Mike AmsdenDirector
Rese SchneiderDirector
Tonieh WellandSecretary
Noel KegelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$452,162
Program Service Revenue
$238,001
Investment Income
$0
Other Revenue
$8,450
All Other Contributions
$452,162
Change in Net Assets
$-376,830

Audited Revenue Reconciliation

Revenue per Audited Statements
$698,613
Revenue Not Reported on Form 990
$19,653
Total Revenue per Audited Statements
$718,266
Total Revenue per Form 990
$698,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$688,476
Salaries, Compensation, and Employee Benefits$386,967
Total Fundraising Expense$47,327
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$369,600--$369,600
Other Salaries and Wages$205,107$4,615$9,043$218,765
Current Officers, Directors, Trustees, and Key Employees$46,308$55,888$30,765$132,961
Payroll Taxes$19,445$4,628$3,045$27,118
Insurance$11,217$11,217-$22,434
Advertising$19,048--$19,048
Occupancy$15,407$1,712-$17,119
Fees for Services Accounting-$9,800-$9,800
Other Employee Benefits$8,123--$8,123
Other Expenses$6,187$4,233$4,474$6,187
Office Expenses$5,408$601-$6,009
Fees for Services Other-$5,945-$5,945
Travel-$2,251-$2,251
All Other Expenses$1,244--$1,244
Total Functional Expenses$927,226$100,890$47,327$1,075,443

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,095,096
Expenses per Audited Statements$1,075,443
Total Expenses per Form 990$1,075,443
Expenses Not Reported on Form 990$19,653
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$70,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A: Explanation of Delegated Broad Authority to Committee

The board has the right to create various committees from time to time to undertake specific tasks, the most notable of these is the Finance Committee which helps staff develop a plan and budget to be presented to the full board for approval.

Form 990, Part VI, Line 11B: Form 990 Review Process

The Finance Committee reviewed the 990. The full Board was then presented with a draft 990 to review and approve.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All governing documents, conflict of interest policy, and financial statements are available upon request.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Midwest Bikeshare Inc
EIN
46-1052766
Phone
4149311121
Address
PO Box 235, MILWAUKEE, WI 53201

Signing Officer

Name
Michele Bria
Title
President
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Davies
Formed
2012
Legal Domicile
Wi
Voting Board Members
12
Independent Board Members
12
Employees
38
Volunteers
47

Preparer

Firm
Ritz Holman LLP
Address
330 E Kilbourn Ste 550, Milwaukee, WI 53202-3144
Preparer
Renee Messing
Phone
4142711451
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is exempt from income tax under Section 501(c)(3) of Internal Revenue Code and is classified as other than a private foundation. Management has reviewed all tax positions recognized in previously filed tax returns and those expected to be taken in future tax returns. As of December 31, 2019, the Organization had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The Organization does not anticipate any significant changes to unrecognized income tax benefits over the next year.

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IRS990/Desc0Bublrs mission is to deliver a sustainable, excellent bike share system for all. As a nonprofit, Bublr knows that our mission is something we must relentlessly chase and may never perfectly achieve. But we must do our best. Which is why in cooperation with the City of Milwaukee, the City of Wauwatosa, The Anthem Foundation and the Ability Center, we were very excited to launch a pilot adaptive bikeshare program in August of 2019. We had more than 249 trips taken on the adaptive bikes during the pilot. We will be working with our partners this winter to solve some challenges we encountered during the pilot in order to bring back an even better program in the summer of 2020.On December 14th, the 40th student to come through our B3 program graduated. The B3 Workforce Development Program is a paid, six-month internship that Bublr runs in collaboration with our partners at the Boys & Girls Clubs of Greater Milwaukee and DreamBikes. Students spend two months working with each partner organization and then we have a graduation party. We invite the students families, give them all basic bike toolkits and a graduation certificate. Now, due to the great work of our partners at the Boys & Girls Clubs, they also get preferred admittance to transportation trade programs at MATC. The B3 Program started back in 2015 with just six students, two of whom now work at Bublr Bikes. Bublr is grateful for all the students whove come through the program and for our great partners.Bublr continued offering its Access Pass program, allowing residents of the Housing Authority of the City of Milwaukee, those eligible for Foodshare and those receiving SSI to purchase an Annual Bublr Pass or BuBlr Pass for only $8.This year was a big year for Bublr. In 2019 Bublr had more than 5,000 pass holders, and just under 75,000 trips taken. In a trend thats continued since 2016, someone from every state in the country took a ride on a Bublr bike. Together, Bublr riders reduced Milwaukee Countys carbon emissions by 75 tons.
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