DBS_2012_Annual_Report
2012 ANNUAL REPORT
LET’S GO
RIDE BIKES
Denver Bike Sharing is a 501(c)(3) non-profit organization that owns and operates an automated, public bike sharing system known as Denver B-cycle. In 2012, the system included 520 bicycles and 52 stations located throughout downtown Denver, surrounding neighborhoods, Cherry Creek and around the University of Denver.
OUR MISSION
Denver Bike Sharing serves as a catalyst for a fundamental transformation in thinking and behavior by operating a bike sharing system in Denver to enhance mobility while promoting all aspects of sustainability: quality of life, equity, the environment, economic development, and public health.
OUR VISION
Denver B-cycle will:
?Complement and integrate with Denver’s comprehensive metropolitan transportation system
?Influence the number of Denver’s bicycle commuters to reach
10 percent of all commuters by 2018 ?Encourage the replacement of car trips by bicycles for all recreational, social and functional purposes
?Serve the broad spectrum of transportation users and needs ?Contribute to Denver becoming the healthiest and greenest city in America
?Transform the perception of cycling to create a shift in Denver’s transportation culture so that, whatever your reason, you ride!CORE VALUES
?B-cycle as a truly sustainable solution that integrates the "triple e - bottom line" -
environment, economics, equity
?B-cycle as a vehicle to happiness (the sweet life)
?B-cycle as a way to good health
?B-cycle as the preferred mobility mode of transportation
?B-cycle as a lifestyle choice in an urban environment
?Denver Bike Sharing as a thriving and sustainable business
BOARD OF DIRECTORS JOCK BICKERT, Retired
PETER COAKLEY, Principal, Inverness Properties, LLC
BEN DAVIS, Communications Specialist, Creative Director, OnSight Public Affairs
ADAM DEVOE, Attorney, Brownstein Hyatt Farber Schreck, LLP
MIKE DINO, Senior Policy Advisor Patton, Boggs & Blow
ANDY DUVALL, Assistant Professor, Research, Department of Health and Behavioral Sciences, University of Colorado Denver MICHAEL FAHNDRICH, President, 3 Points Accounting
ERIC FRANCE, M.D. Chief of Population & Prevention Services, Kaiser Permanente
KEN GART, President, Gart Co
JAY KENNEY, Author, Cartographer, Attorney, Kenney Brothers Foundation
TIM PRUNK, Executive Vice President, Epsilon Targeting
SUSAN POWERS, Founder, Partner, Urban Ventures, LLC
STEVE SANDER, President, Sander Marketing Group
EMILY SNYDER, Bike & Pedestrian Planner, City and County of Denver ROBIN THURSTON, CEO, MapMyFitness, Inc.
BILL VAN METER, Assistant General Manager, Planning, RTD
TOM WALTON,
The Walton Family Foundation LETTER FROM
THE BOARD CHAIR
Dear Friends,
It’s exciting to watch a city change, and it’s particularly exciting to watch Denver Bike Sharing as it plays a larger role in our urban landscape.
The bike sharing concept is thriving in a growing number of cities around the country and I have no doubt that our system will become even more integrated in our lifestyle in the coming years. Dare I say commonplace? The concept works. Denver Bike Sharing is coming off another strong year and is preparing a major expansion this year. By the end of the 2013 season, the number of stations will have increased by more than 58 percent, to 80 in all. That means more options, more routes, more access, more convenience and more riders with a healthy transportation option.
It means more riders finding out how the red bikes can fit into their
day-to-day needs and discovering that it’s an affordable, convenient, climate-healthy option.
We wouldn’t be in this good situation without our many community partners. We can’t thank our sponsors and underwriters enough — they are in sync with the vision and possibilities that the shared bike system represents. We could not ask for a more enthusiastic group.
We also wouldn’t be in such a strong strategic position without a dedicated – and passionate – staff. They are working hard to bring the system to a street corner near you.
Please take a few minutes to browse the highlights of our annual report. I’m sure you’ll find reasons to share my excitement.
Thank you for your ongoing support.
Sincerely,
Peter Coakley
LETTER FROM THE EXECUTIVE DIRECTOR
Bike sharing is a simple, positive idea, which is why it’s easy – and pleasing – to see the concept take off around the country and the world. When Denver Bike Sharing launched
in 2010, we were among the first in the country, and the first big one. By the end of 2012, there were almost 30 systems nationwide, in all shapes and sizes.
Just as each city’s buses, highways and rail evolve to suit the needs and wants of the city, so too, each city’s bike-sharing program will grow to match the needs of the people it serves. While our 2012 growth was not quite as high as we anticipated, it was still a solid year for Denver Bike Sharing, and we have set the stage for a major expansion in 2013. With plenty of new stations coming online, we will be seeing the red bikes in places we haven’t seen them before, and in greater numbers.
The system’s growth will continue to be organic and cautious, as we work in close concert with each neighborhood and neighborhood organization to make bike sharing available for more of our neighbors. It’s our goal to ensure that our network of stations works as well as possible everywhere we expand, so that we meet the needs of all our customers, whether they are citizens or visitors, regular users or occasional riders.
It’s our goal to raise the visibility and viability of Denver B-cycle to the point where a ride on a shared bike becomes a first choice for transportation and not an after-thought.
No matter how much new territory we reach, however, what really matters is the ability of the system to meet the needs of each individual rider.
Our members and users value Denver B-cycle for many reasons: to save money, for convenience, because it’s a healthy form of transportation that is sustainable and friendly to our environment, or to just have a fun and relaxing way to get around and see the city from a whole new angle.
Any reason is fine. No matter how big we grow, after all, it’s not about us.
It’s about you.
Parry Burnap
Executive Director
Denver Bike Sharing riders increased their 2012
B-cycle miles by 2.1 percent over 2011, reducing
by 10.7 percent the mass of their commuting
contributions to local carbon emissions as well
as toxic air pollutants.
In line with their mileage increases for 2012,
Denver Bike Sharing riders burned 2.1 percent
more calories and lost 2.1 percent more pounds
over the previous year.
Based on a survey of our members, 43 percent
of 2010 Denver B-cycle trips replaced car trips.
A 2011 survey showed a drop in car-replacement
trips to 36 percent, holding steady at 35 percent
in 2012. These rates are used to calculate the
following estimates.*
2012 SUCCESSES :
IMPROVING OUR
COMMUNITY
SYSTEM & STATION PLANNING
Denver Bike Sharing observed a slight increase in system use in 2012, despite fewer 24-hour members and a membership price increase.
Funding from the Denver Housing Authority was used to purchase a new station at West 9th Avenue and Santa Fe Drive.
Additionally, Union Station B-station was relocated to the intersection of 17th and Blake streets and the station at the University of Denver’s Nagel Hall was relocated to the intersection of Louisiana & Franklin streets.
Checkouts were strong in March, April, May, and June of 2012, but fell below 2011 levels for July, Sept, October, and November. Some of this can be attributed to a warm spring followed by an extremely hot summer. The station at the intersection of 14th Street and Champa was our most popular station in 2012, with 9,005 checkouts.LOOKING AHEAD
With success comes
expansion, and our system
will grow in 2013.
Thanks to our partnership
with Denver Public Works
and local matching funds
received from the Gates
Family Foundation and
the Anschutz Foundation,
DBS was awarded a total
of $1.1 million in capital
funding through two grants:
Transportation, Community,
and System Preservation
Program (TCSP) awarded by the Federal Highway Administration; and Funding Advancements for Surface Transportation and Economic Recovery (FASTER) awarded by the Colorado Department of Transportation. Our grant funding will be used to purchase 27 new
B-stations and 150 bikes.
Additional funding will be provided by Auraria, the Denver Zoo, and Denver Museum of Nature and Science for 3 stations and 29 bikes, rounding out 2013’s expansion to 30 new stations.
To complement Denver’s existing public transportation system, Denver Bike Sharing will expand its network of B-stations into the following neighborhoods: City Park, City Park West, Congress Park, Cheesman Park, Capitol Hill, Five Points, North Capitol Hill, Union Station, Lincoln Park, Auraria, Jefferson Park, Highland, West Highland, Baker, and Speer. Some locations also will be added to the Central Business District, to handle the numerical growth of inbound commuters.
We are pleased to bring bike sharing to new high-density, mixed-residential/commercial, transit-oriented neighborhoods. With this expansion, we will continue to change transportation behavior in Denver by getting more people on B-cycles, increasing membership levels, increasing multi-modal transportation in new areas, and increasing the number of destinations.
Using $1.1 million in federal and state
grants, Denver Bike Sharing will
purchase 27 new B-stations in the
next year.
Thanks to the support of the Denver Housing Authority, in 2012, Denver Bike Sharing was able to install a new station at West 9th Avenue and Santa Fe Drive. At
the end of the season, the system included 53 active stations and 746 bicycle docks.
2012 FINANCIAL SUMMARY
STRENGTHS
Denver Bike Sharing’s (DBS) business model relies on grant and gift income
to finance capital acquisitions while recurring sponsorship revenue, memberships and usage fees continue
to cover operating, and general and administrative expenses. Offset by our beginning cash balance, DBS anticipated a net deficit of $119,424 for 2012. Ending the year with a net surplus of $116,545 and an ending cash balance of $702,712, DBS entered 2013 in a very stable cash position.
2013 + BEYOND
DBS plans to break ground in early spring 2013 for a 30-station system expansion. Generous contributions from TCSP and FASTER public grants, the Gates Family Foundation, and the Anschutz Foundation will make 27 stations possible, while
the other 3 stations will be built with important contributions by the Walton Family Foundation, Hickenlooper for Mayor, Piton Foundation, EnCana, Denver Zoological Foundation, Denver Museum of Nature and Science, and Auraria Higher Education Center.TOTAL RESOURCES ?Sponsorships ..................................38%?Membership Fees ...........................34%?Usage Fees......................................15%?Capital Grants + Contributions......10%?Miscellaneous ...................................3%?Operating Grants + Contributions...0%
OPERATING EXPENSES ?Depreciation + Amortization ........44%?B-cycle System .............................22%?Operating Payroll ..........................20%?Warehouse + Office Rents..............5%?Merchant Account Fees .................4%?Insurance .........................................3%?Other Operating ..............................2%
G&A EXPENSES
?G&A Payroll....................................63%?Professional Services ...................15%?Insurance .........................................8%?Marketing.........................................7%?Office/Communications .................4%?Other G&A........................................3%
CAPITAL VS OPERATING,
G&A EXPENSES ?Operating .......................................38%?G&A ................................................34%?Capital ............................................15%
1. Represents reduction in cost of Season 1 system.Financial reports audited by JDS Professional Group.STATEMENT OF FINANCIAL POSITION ACCRUAL BASIS AS OF DECEMBER 31, 2012ASSETS
Current Assets
Checking/Savings 499,021 Restricted Funds 203,030 Accounts Receivable 61,539 Other Current Assets 47,258 Total Current Assets 810,848 Property and Equipment
Bikes 451,310 Events Equipment 1,964 Leasehold Improvements 22,268 Office Equipment 67,707 Shop Equipment 4,814 Stations 1,402,831 Transportation Equipment 73,547 Property & Equipment, Other 1 (36,745) Total Property & Equipment 1,987,697
Current Liabilities 175,498 Long Term Liabilities 90,000 Total Liabilities 265,498 Net Assets
Temporarily Restricted Assets 259,506 Unrestricted Net Assets 1,061,317 Total Net Assets 1,320,823Total Liabilities & Net Assets 1,586,320STATEMENT OF ACTIVITIES ACCRUAL BASIS JANUARY THROUGH DECEMBER, 2012INCOME Capital Resources Restricted Grants & Contributions 144,917 Operating Resources Gifts in Kind 36,297 Operating Grants & Contributions 4,328 Total Membership Fees 428,998 Sponsorships 544,820 Usage Fees 213,506 Total Operating Resources 1,227,949Total Income 1,372,866EXPENSE Operating Expenses B-cycle System 247,306 Depreciation & Amortization 461,457 Insurance 30,607 Merchant Account Fees 39,003 Operating Payroll 214,699 Rent: Warehouse & Office 48,934 Other 7,434 Total Operating Expense 1,049,441 General & Administrative G&A Payroll 358,738 Insurance 43,858 Marketing 39,599 Office 11,102 Professional Services 88,309 Other 28,248 Total General & Administrative 569,852Total Expense 1,619,294Other Income/Expense 4,947
Net Income (241,480)
SPECIAL THANKS TO OUR GENEROUS SPONSORS:2737A Larimer Street, Denver, Colorado 80205303-825-3325 ? https://www.wendangku.net/doc/668860227.html, Kaiser Permanente
RTD
LiveWell Colorado
Governor's Energy Office
Smashburger
CBS Outdoor
Colorado Convention
Center & VISIT DENVER
Colorado Rockies
Comcast/xFinity
The Denver Post
Kentwood City Properties
Patton Boggs LLP
Pear Workplace Solutions
Bicycle Village
BP America
Brownstein Hyatt
Farber Schreck
White Wave Foods
Gates Corporation
CBIZ
New Belgium Brewing
Orange Barrel
Suncor
US Bank
Elevations Credit Union Riverfront Park Community Foundation Fehr & Peers Outdoor Promotions Clif bar EveryBlock Pricewaterhouse Coopers Wells Fargo Primal Colorado State University Westword BKD CPA's & Advisors IMA Financial Group DaVita Elevated Third Honest Tea IMA Financial Group RAQC Ozone Aware Whole Foods Market Clif Bar Integer Serendipity Catering Q Advisors Red Point Yogurtini ABOUT KAISER PERMANENTE COLORADO Kaiser Permanente Colorado is the state’s largest nonprofit health plan, proudly working to improve the lives and health of Colorado residents for more than 40 years. Kaiser Permanente Colorado provides comprehensive health care services to more than 538,000 members through 26 medical offices and a network of affiliated hospitals and physicians. The health plan was named “Highest in Member Satisfaction” among Commercial Health Plans by J.D. Power and Associates for the sixth straight year. Kaiser Permanente was recognized by the National Committee for Quality Assurance (NCQA) as the top-ranked commercial health plan in Colorado, number six in the nation and the second ranked Medicare plan in the U.S. Kaiser Permanente was also recently recognized as a 2012 Hypertension Champion by Million Hearts?. In 2011, Kaiser Permanente proudly directed more than $90
million to community benefit programs to improve the health of all Coloradans. For more Kaiser Permanente news, visit https://www.wendangku.net/doc/668860227.html,/newscenter or follow us on twitter @kpcolorado or https://www.wendangku.net/doc/668860227.html,/kpcolorado.