Major Donors |
---|
Susan B. Alden AXA Foundation The Alexander Divinski Family Trust William Alexander Chad & Cecilia Bardone Biovid Blessed Sacrament Catholic Church The Jos Claerbout Fund Clif Bar Family Foundation ExxonMobil Foundation FedEx Anne Fitzgerald Jack & Donna Haughn Robert & Laura Hockett Leo & Helen Hollein K & E Jones Family Trust David Schweidenback & Geraldine Taiani Andrew & Emily Williams |
Category Archives: Business
Treasurer’s Message, Fall 2017
Hi.
I’m Johnny Alexander, Treasurer of Pedals for Progress. Dave and I were Peace Corps volunteers and roommates in Sucua, Ecuador, for all of 1979. He often tells the story of our Peace Corps landlord who put to productive advantage one of the few bicycles in Ecuador. Sr. Peña was part of the inspiration for the founding of P4P.
Several years ago I joined the Board of Trustees and was elected treasurer. My wife Jane Divinski and I are long-time donors. I am starting this column to offer more financial insight and transparency to P4P.
You donors, volunteers, and stakeholders are the core of P4P. It is your time and treasure that sustain and power P4P. Because P4P operates as an IRS-qualified 501(c)(3) nonprofit, your donations may be used to reduce your tax payments.
I want to lead off my first column with an innovative and tax-saving way for retirees to donate to P4P. If you have an IRA or a 401k plan, this should be of interest to you. At age 70.5, you must begin to take Required Minimum Distributions (RMDs). You of course may begin your distributions earlier if you need or wish to. All IRA/401k distributions, except those in Roth accounts, increase your taxable income. The IRS will permit you to direct your IRA/401k administrator to make directed donations to 501(c)(3) nonprofits like P4P. The benefit is that if the money goes directly from your IRA/401k to a nonprofit, you avoid including it in your taxable income. Many wealthier seniors dislike the RMD because it can push them into a higher tax bracket and raise their taxes. The direct donation approach prevents this tax bracket creep. The outcome is that your total tax is lowered by a greater amount than if you report the income and take the deduction for your donation. If you wish to read more, here is a really good article, with examples, from the Wall Street Journal: The Benefit of Donating Your Required IRA Distributions to Charity.
I am sure that your tax advisor and financial institution can help you understand how advantageous this can be for you, given your financial situation.
In peace,
Progress Report for End of Fiscal Year 2017
On 30 September 2017 we closed the books for fiscal year 2017. (The P4P fiscal year runs from October 1st through September 30th.)
In 2017 we collected 12% more bikes and 55% more sewing machines than in 2016.
Fiscal 2018 starts with a bang: on 23 September 2017 the Vermont Green Mountain Returned Peace Corps Volunteers collected 253 bikes and an astounding 168 sewing machines, all of which is en route to New Jersey. Because it is not yet in our warehouse it cannot be counted as 2017 production, so it will give us a great start to 2018.
Bicycles | |
---|---|
Fiscal Year 2016 | |
|
|
2016 Total Bikes Shipped | 2,760 |
2016 Bikes Collected | 3,130 |
9/30/2016 Bikes in Inventory | 590 |
Fiscal Year 2017 | |
|
|
2017 Total Bikes Shipped | 3,644 |
2017 Bikes Collected | 3,531 |
9/30/2017 Bikes in Inventory | 477 |
Sewing Machines | |
Fiscal Year 2016 | |
|
|
2016 Total Sewing Machines Shipped | 285 |
2016 Sewing Machines Collected | 327 |
9/30/2016 Sewing Machines in Inventory | 67 |
Fiscal Year 2017 | |
|
|
2017 Total Sewing Machines Shipped | 533 |
2017 Sewing Machines Collected | 511 |
9/30/2017 Sewing Machines in Inventory | 45 |
Progress Report for End of Fiscal Year 2016
On 30 September 2016 we drew the curtain on our activities for fiscal year 2016. (The P4P fiscal year runs from October 1st through September 30th.)
In 2016 P4P collected 36 more bicycles then we did the previous year. And as for sewing machines we had an almost 13% increase in machines collected.
(On 9/30/14, the end of fiscal year 2014, we had 365 bicycles in inventory.)
Fiscal Year 2015 Bicycles Shipped |
|||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Fiscal Year 2016 Bicycles Shipped |
|||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
(On 9/30/14, the end of fiscal year 2014, we had 50 sewing machines in inventory.)
Fiscal Year 2015 Sewing Machines Shipped |
||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
(On 9/30/15, the end of fiscal year 2015, we had 20 sewing machines in inventory.)
Fiscal Year 2016 Sewing Machines Shipped |
|||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Summer 2016 Podcast Featuring Dave
CNN Heroes is a TV special created by CNN to honor individuals who make extraordinary contributions to humanitarian aid and who make a difference in their communities. Dave Schweidenback, P4P founder and CEO, was a 2008 CNN Hero for his work with P4P. Shin Fujiyama was a 2009 CNN Hero. He founded Students Helping Honduras, an NGO that runs projects in Honduras to support education, housing, and microfinance.
In the summer of 2016, Shin got in touch with Dave and recorded a conversation about P4P history, philosophy, the economics of development and non-profits, the introduction of the wheel, corrupt customs officials, and lots more.
Shin published the conversation in his podcast series. Shin’s website has lots more information about Students Helping Honduras and his other activities.
Click here for an introduction to and a summary of Shin’s conversation with Dave and for links to the podcast audio files.
Continued Clif Bar Support
Spring 2009 InGear
Our project in Sierra Leone is less than a year old, and it’s already a success despite many initial logistical difficulties. Helping us overcome these challenges is the very generous Clif Bar and Company. Because of a significant grant from the Clif Bar Family Foundation, we were able to fund the vital first shipment of bikes to Sierra Leone in July. This got the project started.
Since then, our partners in Sierra Leone have already received their second shipment (described in Greg Sucharew’s article). As with all of our programs, it’s the first shipment that enables our partners to get their revolving fund started so they can pay for subsequent shipments. In the case of Sierra Leone, shipping charges are much higher than usual, and without help from Clif Bar, we never could have met that expense. But financial assistance from the Clif Bar Family Foundation hasn’t stopped there. They recently informed us they will be providing us with a grant of $10,000 a year for the next three years! This will ensure the growth of our program in Sierra Leone, as well as enable us to open new programs that, like Sierra Leone’s, are normally too costly for us to start. As you might suspect, these programs are in the very countries that most need help.
In addition to fueling athletes and health-conscious people-on-the-go with delicious and nutritious energy bars, gels and drinks, Clif Bar does a lot of other wonderful things for the planet. You can learn more at www.clifbarfamilyfoundation.org, where you’ll also find us listed among their Long-term Partners. While you’re there, don’t hesitate to purchase an “On Your Behalf” Gift Card from their site. You can support your favorite bicycle-recycling nonprofit, or any of the other noble groups among their Long-term Partners.