Form 990 for tax year 2024

What the amendment changed

Compared with the return it replaced , filed 15 August 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue

$2,334,468

Total expenses

$1,309,317

Contributions and grants received

$2,135,509

Grants paid

$0

Program service revenue

$62,825

Investment income

$38,298

Other revenue

$97,836

Total assets, end of year

$4,181,093

Total liabilities, end of year

$196,487

Net assets or fund balances, end of year

$3,984,606

Program services expenses (Part IX)

$1,034,611

Management and general expenses

$195,920

Fundraising expenses

$78,786

Program service expenses (Part III)

$1,034,611

Program services were 79.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2024

• THROUGH FOUR PROGRAMS, BEARINGS BIKE WORKS UNIQUELY PROVIDES LEARNING EXPERIENCES AND RESOURCES TO HELP YOUTH DEVELOP IN THE CONTEXT OF WORK - ALL CONNECTED TO BIKE BUILDING, RIDING, RACING AND RELATED LIFE SKILLS. SKILLS FOR LIFE IS BEARINGS- DROP-IN AFTER SCHOOL PROGRAM WHERE KIDS ARE EXPOSED TO TRANSFERABLE TECHNICAL KNOWLEDGE AND SKILLS FROM THE STARTING POINT OF A CHILDHOOD ICON, THE BIKE. IN SKILLS FOR LIFE, ALL PROGRAM ACTIVITIES AND SKILLS ASSESSMENTS ARE BASED ON BUILDING AND FIXING BIKES; LEARNING IS SELF-PACED, AND EARNING AND MAINTAINING A BIKE PROVIDES NATURAL INCENTIVES FOR PROGRESS. SOFT SKILLS AND CHARACTER STRENGTH DEVELOPMENT ARE EMBEDDED INTO THE EXPERIENCE AND SUPPORTED BY CARING, TRUSTED ADULT MENTORS. IN 2023, OVER 300 STUDENTS LOGGED OVER 4,000 HOURS IN SKILLS FOR LIFE PROGRAMMING, DEVELOPING SKILLS AND BUILDING RELATIONSHIPS. STUDENTS DEMONSTRATED SKILL MASTERY THROUGH MECHANICAL CURRICULUM "LEVEL UPS" 150 TIMES. OVER 80% OF STUDENTS SURVEYED REPORT HAVING AT LEAST ONE HIGH QUALITY DEVELOPMENTAL RELATIONSHIP WITH AN ADULT LEADER AT BEARINGS. GEARING UP IS A SCHOOL-PARTNERSHIP PROGRAM THAT OFFERS HANDS-ON, STUDENT- CENTERED LEARNING EXPERIENCES AND INTERVENTION FOR STRUGGLING STUDENTS. BEARINGS STAFF COACH THE STUDENTS THROUGH THE MECHANICAL CURRICULUM, BUILDING POSITIVE DEVELOPMENTAL RELATIONSHIPS AND USING AUTHENTIC EXPERIENCES TO FOSTER SOFT SKILLS AND CHARACTER STRENGTHS WHILE ALSO PROVIDING CONTEXT FOR CLASSROOM CONTENT. IN 2023, BEARINGS SERVED 52 YOUTH THROUGH GEARING UP; 100% COMPLETED THE FIRST LEVEL OF THE MECHANICAL CURRICULUM. SCHOOL LEADERS REGULARLY REPORT TO BEARINGS THAT STUDENTS HONE SKILLS SUCH AS SELF-GOVERNANCE, PERSEVERANCE AND CRITICAL THINKING BECAUSE OF BEARINGS' PARTNERSHIP PROGRAM. FRAMEWORKS IS BEARINGS' WORKFORCE DEVELOPMENT PROGRAM FOR TEENS AND YOUNG ADULTS THAT CREATES SKILL-BUILDING OPPORTUNITIES THROUGH REAL-LIFE WORK EXPERIENCE IN THE CONTEXT OF BEARINGS RETAIL BIKE SHOP. BEARINGS TAKES A MARKET-BASED APPROACH TO WORKFORCE DEVELOPMENT: THE PROGRAM REWARDS HARD WORK AND SKILLS DEVELOPMENT, INVITING TEENS TO APPLY FOR EMPLOYMENT AT BEARINGS THROUGH ENROLLMENT IN THE PROGRAM. FRAMEWORKS CURRENTLY FUNCTIONS IN TWO FORMATS: AN 8-WEEK SUMMER INTERNSHIP EXPERIENCE FOR HIGH SCHOOLERS; AND A 12-18-MONTH ADVANCED MECHANICAL AND JOB TRAINING PROGRAM FOR YOUNG ADULTS 18-22 WHO ARE DISCONNECTED FROM SCHOOL AND WORK. TO DATE, 100% OF FRAMEWORKS GRADUATES HAVE ENROLLED IN POST-SECONDARY EDUCATION OR SECURED EMPLOYMENT WITHIN 6 MONTHS OF HIGH SCHOOL COMPLETION. AS KIDS GROW IN THEIR ENJOYMENT OF RIDING THE BIKES THEY'VE EARNED, BEARINGS INVITES THEM TO STEP INTO CYCLING AND BEGIN TO LEARN MORE ADVANCED BIKE HANDLING SKILLS. OUR YOUTH MOUNTAIN BIKING PROGRAM INCLUDES CLINICS, CAMPS, AND A COMPETITIVE MOUNTAIN BIKING TEAM. BECAUSE OF ITS INFRASTRUCTURE, BEARINGS IS ABLE TO PROVIDE A UNIQUE COMPETITIVE SPORT EXPERIENCE IN AN URBAN SETTING THAT WOULD OTHERWISE BE INACCESSIBLE DUE TO THE NUMEROUS BARRIERS TO ENTRY, INCLUDING THE HIGH COST OF COMPETITIVE CYCLING. FURTHER, THE IMPORTANCE OF INTRODUCING A SPORT-BASED PROGRAM NOT ONLY ALLOWS YOUTH TO DEVELOP POSITIVE, MENTORING RELATIONSHIPS WITH COACHES AND A SOCIAL SUPPORT SYSTEM AMONG THEIR PEERS, BUT ALSO IMPACTS CURRENT HEALTH DETERMINANTS AND LONG-TERM HEALTH OUTCOMES.

  Expenses $1,034,611

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type

form_990

Tax year

2024

Filed

3 June 2026

IRS schema version

2024v5.0

Source object

202641599349301764

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