Golden Optimists Bicycle Recycle Program

“| Other Revenues:, Amount:| Bikes are donated but never assigned any value through the process until revenue from a sale is generated. Bikes are generally not rideable and need work to be useable again. We do not assign value to the bike donations or enter a cost for the donated bike into COGS. The bikes sell we do not include any cost expect for parts supplies tools and accessories that appear in COGS. Thus anything not claimed as a donation value for the bike is captured in revenue from sales. Bikes given away for free also only have the parts supplies tools and accessories contributing to the COGS., $0|”

“| Grants And Similar Amounts Paid:, Amount:| Materials for Bike to School and Bike safety programs provided to local schools, $1020| Donation to nonprofit 2nd Chance Bikes to restart similar program in neighboring community, $1000| Expenses and donations of goods to donate bikes and repair bikes on Navajo reservation, $4768|”

“| Other Expenses:, Amount:| depreciation expenses on tools equipment and mobile facilities, $2890| Insurance General and Liability, $3269| Banking Fees, $48| Membership dues organizational registrations and filing fees, $348| Software IT services Internet and web maintenance, $1148|”

“| Explanation:, Amount:| Credit card debt which is transactional and paid off each month increased from $592.47 at the end of 2022 to $1,986.63 at the end of 2023. This was an increase of $1,394.16, $1394|”

“| Explanation:, BOYAmount:, EOYAmount:| These assets include tools and equipment to repair bicycles computer and tablets to retrieve information in bike shop and process transactions around bikes. These assets are depreciated which lowered the net balance by $4,696 in 2022 and $7,586 in 2023. The large increase during 2023 was primarily for a 24 foot enclosed trailer that is used to store and transport bikes. A grant was eventually received to cover the majority of the costs of acquiring the enclosed trailer., $9621, $22112|”