Civic Intelligence

Metropolitan Velodrome Inc

EIN 46-3311625 • 501(c)3 • Asbury Park, NJ

Profile

The organization was formed to erect, maintain, and operate a public facility in the metropolitan new york area that will be a year-round, indoor, state-of-the-art velodrome (cycling track) and community center. As a community center, the organization will create and operate programs for use by the general public, community organizations, educational institutions, and other groups for charitable, educational, and athletic purposes and activities.

1501 Ocean Avenue Unit 248Asbury Park, NJ 07712

none

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

35th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

99th percentile

99%

Higher net margin than 99% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Assets

Down

$0

Down $2,494 (-100%) from 2023

Liabilities

Down

$0

Down $607,202 (-100%) from 2023

Net Assets

Up

$0

Up $604,708 (+100%) from 2023

Revenue

Up

$608,206

Up $608,206 from 2023

Expenses

Down

$3,498

Down $7,435 (-68%) from 2023

Net Income

Up

$604,708

Up $615,641 (+5631%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500K-$1.0MAssets 2016: $10,454Liabilities 2016: $600,903Net Assets 2016: -$590,4492016Assets 2017: $1,829Liabilities 2017: $600,903Net Assets 2017: -$599,0742017Assets 2018: $62,455Liabilities 2018: $601,658Net Assets 2018: -$539,2032018Assets 2019: $14,966Liabilities 2019: $601,658Net Assets 2019: -$586,6922019Assets 2020: $12,297Liabilities 2020: $601,658Net Assets 2020: -$589,3612020Assets 2021: $10,282Liabilities 2021: $601,658Net Assets 2021: -$591,3762021Assets 2022: $7,883Liabilities 2022: $601,658Net Assets 2022: -$593,7752022Assets 2023: $2,494Liabilities 2023: $607,202Net Assets 2023: -$604,7082023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2016: $0Expenses 2016: $21,176Net Income 2016: -$21,1762016Revenue 2017: $15,000Expenses 2017: $23,625Net Income 2017: -$8,6252017Revenue 2018: $82,000Expenses 2018: $22,129Net Income 2018: $59,8712018Revenue 2019: $75,000Expenses 2019: $122,489Net Income 2019: -$47,4892019Revenue 2020: $1,064Expenses 2020: $3,733Net Income 2020: -$2,6692020Revenue 2021: $0Expenses 2021: $2,015Net Income 2021: -$2,0152021Revenue 2022: $0Expenses 2022: $2,399Net Income 2022: -$2,3992022Revenue 2023: $0Expenses 2023: $10,933Net Income 2023: -$10,9332023Revenue 2024: $608,206Expenses 2024: $3,498Net Income 2024: $604,7082024

Highlighted filing

2024

Revenue$608,206
Expenses$3,498
Net Income$604,708

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 9, 2025
Return Version
2024v5.0
Gross Receipts
$608,206
Mission and Program Overview

Mission

The organization was formed to erect, maintain, and operate a public facility in the metropolitan new york area that will be a year-round, indoor, state-of-the-art velodrome (cycling track) and community center. As a community center, the organization will create and operate programs for use by the general public, community organizations, educational institutions, and other groups for charitable, educational, and athletic purposes and activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$607,202$0▼ $607,202
Cash and Non-Interest-Bearing Accounts$2,494$0▼ $2,494
Savings and Temporary Cash Investments-$0-
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-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Rtn Earn Endowment Incm Other Fnds$-604,708$0▲ $604,708
Total Assets$2,494$0▼ $2,494
Other Assets Total-$0-
Liabilities
Total Liabilities$607,202$0▼ $607,202
Net Assets / Fund Balance
Total Net Assets Fund Balance$-604,708$0▲ $604,708
Total Liabilities and Net Assets / Fund Balance$2,494$0▼ $2,494
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joshua P RechnitzChairman & Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$608,206
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$608,206
Change in Net Assets
$604,708
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,498
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$3,498-$3,498
Total Functional Expenses$0$3,498$0$3,498
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
Loans from Officers, Directors, Trustees, and Key Employees$607,202$0▼ $607,202
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
Annual disclosure for covered persons
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Joshua p. Rechnitz is the sole member of the organization.

Form 990, Part VI, Section A, Line 7A

Joshua p. Rechnitz, the sole member of the organization has the authority to elect or appoint other members of the governing body.

Form 990, Part VI, Section A, Line 7B

Joshua p. Rechnitz, the sole member of the organization has the authority to make governance decisions.

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

A copy of form 990 was provided to the organization's governing body before it was filed.

Form 990, Part VI, Section B, Line 12C

The organization regularly and consistenly monitors and enforces compliance with the conflict of interest policy by allowing any interested parties to disclose a conflict of interest. After disclosure of a conflict of interest, the governing body would determine if such a conflict exists, designate a disinterested party to investigate alternatives and develop a resolution. If the board deems a violation of the conflict of interest policy, it would inform the member of the basis for such belief and allow the member to explain the alleged failure to disclose. If after hearing the member's response, conducting a full investigation into the matter, and determining that there was a failure to disclose a conflict of interest, the board would take the appropriate discliplinary and corrective action.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Metropolitan Velodrome Inc
EIN
46-3311625
Phone
6467074327
Address
1501 OCEAN AVENUE UNIT 248, ASBURY PARK, NJ 07712

Signing Officer

Name
Wendie Eigen-weinstein
Title
Other
Phone
2127523700
Signed
2025-03-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joshua P Rechnitz
Formed
2013
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Lh Frishkoff & Co Llp
Address
546 FIFTH AVENUE 9TH FLOOR, NEW YORK, NY 10036-5000
Preparer
Richard Barber CPA
Phone
2128080070
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Due to various factors limiting the construction location of the velodrome, this program has been discontinued and previous loans to the nonprofit have been forgiven and reclassed as donations to the entity.

Raw XML Appendix348 raw XML fields

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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0PARTNERSHIP
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0546 FIFTH AVENUE 9TH FLOOR
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0NEW YORK
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0NY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd010036
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DUE TO VARIOUS FACTORS LIMITING THE CONSTRUCTION LOCATION OF THE VELODROME, THIS PROGRAM HAS BEEN DISCONTINUED AND PREVIOUS LOANS TO THE NONPROFIT HAVE BEEN FORGIVEN AND RECLASSED AS DONATIONS TO THE ENTITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1JOSHUA P. RECHNITZ IS THE SOLE MEMBER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2JOSHUA P. RECHNITZ, THE SOLE MEMBER OF THE ORGANIZATION HAS THE AUTHORITY TO ELECT OR APPOINT OTHER MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3JOSHUA P. RECHNITZ, THE SOLE MEMBER OF THE ORGANIZATION HAS THE AUTHORITY TO MAKE GOVERNANCE DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF FORM 990 WAS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION REGULARLY AND CONSISTENLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY ALLOWING ANY INTERESTED PARTIES TO DISCLOSE A CONFLICT OF INTEREST. AFTER DISCLOSURE OF A CONFLICT OF INTEREST, THE GOVERNING BODY WOULD DETERMINE IF SUCH A CONFLICT EXISTS, DESIGNATE A DISINTERESTED PARTY TO INVESTIGATE ALTERNATIVES AND DEVELOP A RESOLUTION. IF THE BOARD DEEMS A VIOLATION OF THE CONFLICT OF INTEREST POLICY, IT WOULD INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND ALLOW THE MEMBER TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE MEMBER'S RESPONSE, CONDUCTING A FULL INVESTIGATION INTO THE MATTER, AND DETERMINING THAT THERE WAS A FAILURE TO DISCLOSE A CONFLICT OF INTEREST, THE BOARD WOULD TAKE THE APPROPRIATE DISCLIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt02494
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt02494
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0608206
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03498
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03498
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0607202
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0607202
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-604708
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0608206
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02494
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0527 HUDSON STREET 3
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010014
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WENDIE EIGEN-WEINSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OTHER
ReturnHeader/BusinessOfficerGrp/PhoneNum02127523700
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0METROPOLITAN VELODROME INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O WENDIE EIGEN-WEINSTEIN
ReturnHeader/Filer/BusinessNameControlTxt0METR
ReturnHeader/Filer/EIN0463311625
ReturnHeader/Filer/PhoneNum06467074327
ReturnHeader/Filer/USAddress/AddressLine1Txt01501 OCEAN AVENUE UNIT 248
ReturnHeader/Filer/USAddress/CityNm0ASBURY PARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007712
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0131974820
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LH FRISHKOFF & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0546 FIFTH AVENUE 9TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0100365000
ReturnHeader/PreparerPersonGrp/PhoneNum02128080070
ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD BARBER CPA
ReturnHeader/ReturnTs02025-03-14T15:43:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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