2013-03-25T08:57:12-05:00 2012-12-31 221914888 NISIVOCCIA LLP 200 VALLEY RD SUITE 300 MT ARLINGTON NJ 07856 990 2012-01-01 223122003 PEDALS FOR PROGRESS A NJ NON PROFIT CORPORATION PEDA 9086384811 86 EAST MAIN STREET HIGH BRIDGE NJ 08829 DAVID SCHWEIDENBACK 9086384811 2013-03-19 1 THOMAS R DARTNELL CPA P00224464 9733281825 2013-03-19 2012 2016-02-25 16:41:14Z DAVID SCHWEIDENBACK 86 EAST MAIN STREET HIGH BRIDGE NJ 08829 500369 0 X WWW.P4P.ORG X 1991 NJ PEDALS FOR PROGRESS'S GOAL IS TO RESCUE BICYCLES AND SEWING MACHINES DESTINED FOR AMERICA'S LANDFILLS AND DELIVER THEM TO SOCIETIES WHERE THEY ARE BADLY NEEDED AND HIGHLY VALUED. SINCE ITS INCEPTION IN 1991 AND FROM THE SEED OF AN IDEA BY ITS FOUNDER (A FORMER PEACE CORPS VOLUNTEER), THE ORGANIZATION HAS GROWN TO AN ENTERPRISE THAT HAS CUMULATIVELY COLLECTED AND DISTRIBUTED OVER 115,000 BICYCLES AND 1,000 SEWING MACHINES TO THE WORKING POOR IN LATIN AMERICA, AFRICA, EASTERN EUROPE, ASIA AND THE ISLANDS OF THE CARIBBEAN AND THE PACIFIC.THROUGH VOLUNTEER LABOR AND TAX-DEDUCTIBLE DONATIONS OF MONEY AND MATERIALS, PEDALS FOR PROGRESS COLLECTS, WAREHOUSES, AND SHIPS NEW AND USED BIKES, PARTS AND ACCESSORIES TO RECIPIENT COUNTRIES WHERE THEY ARE REPAIRED BY NON-PROFIT, PARTNER ORGANIZATIONS (PROVIDING EMPLOYMENT, BUILDING MANAGEMENT AND REPAIR SKILLS TO THEIR STAFF) AND SUBSEQUENTLY, SOLD AT COST TO HELP LOW-INCOME INDIVIDUALS ACCESS JOBS, MARKETS AND SERVICES. 6 5 18 531 0 0 436832 433093 37409 46363 270 264 9411 12434 483922 492154 0 0 0 0 162615 145242 0 0 30591 393590 361152 556205 506394 -72283 -14240 308132 320869 80837 116687 227295 204182 TO SUPPLY ECONOMIC DEVELOPMENT AID BY RECYCLING BICYCLES AND SEWING MACHINES IN THE U.S. AND SHIPPING THEM TO THE PEOPLE OF THE DEVELOPING WORLD. 0 0 415103 58797 PEDALS FOR PROGRESS'S PRIMARY EXEMPT PURPOSE IS TO SUPPLY, VIA CHARITY PARTNERS OVERSEAS, RECONDITIONED AND USED BICYCLES TO LOW-INCOME FAMILIES IN NEED OF AFFORDABLE TRANSPORT FOR PRODUCTIVE PURPOSES. 415103 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2 0 18 1 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ MA PA CT VT NY X X DAVID SCHWEIDENBACK 9086384811 86 EAST MAIN STREET HIGH BRIDGE NJ 08829 SCOTT CALLAHAN 2.00 X 0 0 0 JOHN ALEXANDER 2.00 X 0 0 0 JOHN STRACHAN 2.00 X 0 0 0 ROBERT ZEH 2.00 X 0 0 0 ANDREW WILLIAMS 2.00 X 0 0 0 DAVID SCHWEIDENBACK 40.00 X X 64500 0 16955 64500 0 16955 0 0 0 0 0 433093 226709 433093 REVOLVING FUNDS 900099 46363 46363 46363 364 364 8115 8215 -100 -100 -100 OTHER INCOME 900099 12434 12434 12434 492154 58797 0 264 81455 58728 10177 12550 52329 44190 4465 3674 11458 458 4698 6302 13796 13796 23556 14573 2558 6425 35746 15152 19702 892 5503 2414 3038 51 89 89 206 206 5885 4464 1421 PROGRAM EXPENSE 227318 227318 SHIPPING AND COLLECTION 47716 47716 MERCHANDISE, PARTS ABD 697 697 STATE FEES 615 65 550 25 25 506394 415103 60700 30591 1314 10222 17432 19154 10342 6309 5700 4394 4891 319457 48897 270766 270560 7917 308132 320869 80837 60874 45869 0 9944 80837 116687 X 216884 193771 10411 10411 227295 204182 308132 320869 X -14240 -8873 X X 0 1 X 1 0 X 496989 203434 237105 436832 433090 1807450 496989 203434 237105 436832 433090 1807450 1807450 4931 248 17 270 264 5730 1813180 0.99680 0.99460 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10411 10411 10411 10411 1.00000 0 0 270560 270560 48897 48897 0 270560 DEFERRED REAL ESTATE SETTLEMENT FEES 9944 9944 X 492154 0 492154 0 492154 506394 0 506394 0 506394 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION IS ALSO EXEMPT UNDER TITLE 15 OF THE STATE OF NEW JERSEY CORPORATIONS AND ASSOCIATIONS NOT-FOR-PROFIT ACT. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION, INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION RELATED TO THOSE TAX POSITIONS. THE ORGANIZATION DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED DECEMBER 31, 2012. HOWEVER, THE ORGANIZATION IS SUBJECT TO AUDIT BY TAX AUTHORITIES, INCLUDING A REVIEW OF ITS NONPROFIT STATUS WHICH MANAGEMENT BELIEVES WOULD BE UPHELD UPON EXAMINATION. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED FOR EACH YEAR. THE ORGANIZATION FILES INFORMATIONAL RETURNS WITH BOTH THE FEDERAL AND NEW JERSEY STATE GOVERNMENTS ON AN ANNUAL BASIS FORM 990 WITH THE INTERNAL REVENUE SERVICE, AND FORM CRI-300R WITH THE STATE. THESE RETURNS ARE SUBJECT TO EXAMINATION BY THESE AUTHORITIES WITHIN THREE YEARS FROM THE LATEST FILING DATE FOR FEDERAL AND FOUR YEARS FROM THE LATEST FILING FOR NEW JERSEY. X BICYCLES, SEWING MACHINES, AND VARIOUS PARTS 4167 226709 THRIFT SHOP VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 PEDALS FOR PROGRESS HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PROVIDED TO THE MEMBERS OF THE ORGANIZATIONS GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH A REASONABLE AMOUNT OF TIME TO REVIEW THE FORM 990. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED THROUGH MANAGEMENT TO THE OUTSIDE ACCOUNTING FIRM. ANY APPLICABLE ISSUES ARE ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C PEDALS FOR PROGRESS CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT REGULARLY MONITORS AND ENFORCES. THE BOARD MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, GOVERNING BODY AND MANAGEMENT WILL INVESTIGATE THE ISSUE. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST MANAGEMENT AND THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY. THE MEMBER WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THAT THERE IS NO LONGER A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE ORGANIZATIONS OFFICERS OR KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES AN INDEPENDENT BODY. FORM 990, PART VI, SECTION C, LINE 19 PEDALS FOR PROGRESS MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE ON THE ORGANIZATIONS WEBSITE AT WWW.P4P.ORG AND UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 86 EAST MAIN STREET, HIGH BRIDGE, NJ 08829. IN ADDITION FORM 1023 AS WELL AS THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT - REAL ESTATE -8,873. FORM 990 PART XII LINE 2C NO CHANGE FROM THE PRIOR YEAR.