Overview
What is Velodrome Fund Inc?
Velodrome Fund Inc, based in Trexlertown, Pennsylvania, is a nonprofit organization with a primary focus on operating a velodrome facility. This facility serves as a hub for promoting bicycle racing and various fitness activities. With a dedicated team of seven employees, Velodrome Fund Inc strives to foster an environment that encourages cycling and wellness. Their mission is centered around operating the velodrome and nurturing the passion for bicycle racing within the community.
Official website here: www.thevelodrome.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star rating.
The Velodrome Fund Inc has been recognized for its strong accountability and finance practices, achieving a high score of 92%. This rating highlights the organization's commitment to transparency and ethical management, reflecting positively on its governance structure, which consists entirely of independent board members. The organization has effectively maintained a low liability to asset ratio, indicating strong financial health.
Strengths of the Velodrome Fund include comprehensive financial oversight, with well-documented policies such as conflict of interest and whistleblower protections. Additionally, the organization demonstrates effective use of resources, allocating nearly 70% of its expenses directly to programs. These factors contribute to its solid reputation within the nonprofit sector, making it a trustworthy choice for donors.
While the Velodrome Fund has demonstrated robust financial practices, potential donors should remain aware that ratings are based solely on accountability and finance. The absence of additional performance metrics may limit the understanding of its overall impact and effectiveness in achieving its mission. Nonetheless, the organization's strong governance and financial management set a positive standard in the nonprofit landscape.
This AI summary has been generated from information found on Charity Navigator.
Is Velodrome Fund Inc legitimate?
Velodrome Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Velodrome Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $168,482
For more financial information, click here
Official website here: www.thevelodrome.com
What is the mission statement of Velodrome Fund Inc?
Velodrome Fund Inc's mission is primarily focused on managing a velodrome facility and fostering an interest in bicycle racing. Beyond this, they also aim to promote various fitness activities within the facility. In essence, their goal is to provide a platform for bicycle racing and encourage physical fitness through related activities.
Official website here: www.thevelodrome.com
Who is the CEO of Velodrome Fund Inc?
Wendy Moyer-Drabick is the Chairman of Velodrome Fund Inc.
Official website here: www.thevelodrome.com
What is the revenue of Velodrome Fund Inc?
Velodrome Fund Inc's revenue in 2022 was $771,660.
Official website here: www.thevelodrome.com
Who are the executives of Velodrome Fund Inc and what are their salaries?
The average compensation at Velodrome Fund Inc during 2022 was $24,069. There are 7 employees at Velodrome Fund Inc.
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Official website here: www.thevelodrome.com
Where can I find the form 990 for Velodrome Fund Inc?
Velodrome Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thevelodrome.com
Learn more at the official website: www.thevelodrome.com
Mission Statement of Velodrome Fund Inc
The Velodrome Fund Inc, as its mission states, is dedicated to operating a velodrome facility and promoting bicycle racing. Beyond just operating this cycling venue, the organization also aims to promote various fitness activities within its premises. In essence, the Velodrome Fund Inc serves as a hub for cycling enthusiasts, fostering an environment that encourages both competitive and recreational bicycle racing, as well as other fitness activities.
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Impact
October, 2024
Velodrome Fund Inc significantly impacts the local community by operating the Velodrome facility in Trexlertown, PA, which serves as a hub for bicycle racing and various fitness activities. By promoting and hosting cycling events, the organization fosters a strong cycling culture, encouraging both competitive and recreational participation. This not only enhances the physical fitness of participants but also strengthens community engagement through events that draw spectators and cyclists from surrounding areas. The Velodrome provides a unique venue that supports athletes, promotes healthy lifestyles, and contributes to the overall recreation landscape in the region.
This information is meant to be a general summary of Velodrome Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $33,332
- Program Service Revenue: $281,774
- Gross Receipts: $771,660
Assets and Liabilities:
- Total Assets: $1,553,764
- Total Liabilities: $32,224
- Net Assets: $1,521,540
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RIDER FEES
Revenue
$160,628
RACING TICKET SALES
Revenue
$74,245
CONCESSIONS
Revenue
$33,064
FACILITY RENTALS
Revenue
$13,837
Organization Details
Founding Year
1995
Phone
(610) 395-7000Principal Officer
Wendy Moyer-Drabick
Main Address
PO BOX 880, TREXLERTOWN, PA, 18087
Website
www.thevelodrome.comNTEE Category
Code: N600 - Recreation
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