505 Racing Inc
505 Racing Inc. reports no financial activity with $0 revenue and assets.
EIN: 201226159 · Albuquerque, NM · NTEE: N60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| CEO/Top Officer Pay | $0 |
| Transparency Score | 50/100 |
Is 505 Racing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About 505 Racing Inc
505 Racing Inc (EIN: 201226159) is a nonprofit organization based in Albuquerque, NM, classified under NTEE code N60. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 505 Racing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates 505 Racing Inc with a Mission Score of 50 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, 505 Racing Inc allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Executive Compensation Analysis
No executive compensation is reported, which is consistent with the organization's $0 revenue and assets, suggesting a volunteer-led structure without paid staff.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of 505 Racing Inc's IRS 990 filings:
- No reported financial activity ($0 revenue, $0 assets), making financial analysis impossible.
Strengths
The following positive indicators were identified for 505 Racing Inc:
- No reported executive compensation, indicating a volunteer-driven model if active.
Frequently Asked Questions about 505 Racing Inc
Is 505 Racing Inc a legitimate charity?
505 Racing Inc (EIN: 201226159) is a registered tax-exempt nonprofit based in New Mexico. Our AI analysis gives it a Mission Score of 50/100. 1 red flag identified. 1 strength noted. Financial health grade: D.
How does 505 Racing Inc spend its money?
505 Racing Inc reported its financials in IRS 990 filings. Review the full spending breakdown on NonprofitSpending.
Are donations to 505 Racing Inc tax-deductible?
505 Racing Inc is registered as a tax-exempt nonprofit (EIN: 201226159). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the 505 Racing Inc CEO make?
505 Racing Inc's highest-compensated officer earns $0 annually. Executive compensation data is disclosed in IRS 990 filings.
How does 505 Racing Inc compare to similar nonprofits?
With a transparency score of 50/100 (Fair), 505 Racing Inc is near average for NTEE category N60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is 505 Racing Inc located?
505 Racing Inc is headquartered in Albuquerque, New Mexico and files with the IRS under EIN 201226159. It is classified under NTEE code N60.
Is 505 Racing Inc. a good charity?
Based on the available IRS 990 data, 505 Racing Inc. reports $0 in revenue and assets, indicating no financial activity. This makes it impossible to assess its effectiveness as a charity through financial metrics. Its 'goodness' would depend on its non-financial impact, which is not reported on the 990.
How does 505 Racing Inc. spend its money?
According to its latest IRS 990 filing, 505 Racing Inc. reports $0 in expenses, revenue, and assets. Therefore, there is no financial spending to analyze or break down.
What is the financial health of 505 Racing Inc.?
The financial health of 505 Racing Inc. cannot be assessed from the provided data, as the organization reports $0 in both revenue and assets. This suggests either a very early stage, dormant status, or operations entirely outside of monetary transactions.
Data Sources and Methodology
This transparency report for 505 Racing Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.