Local 500 Building Corp
Local 500 Building Corp reports zero expenses despite declining assets over a decade.
EIN: 141958493 · Gaithersburg, MD · NTEE: S47 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $385K |
| Net Assets | $1.4M |
| Transparency Score | 10/100 |
Is Local 500 Building Corp Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Local 500 Building Corp
Local 500 Building Corp (EIN: 141958493) is a nonprofit organization based in Gaithersburg, MD, classified under NTEE code S47. The organization reported total revenue of $385K and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 500 Building Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 500 Building Corp is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $90K |
| Total Expenses | $0 |
| Surplus / Deficit | +$90K |
| Total Assets | $2.1M |
| Total Liabilities | $733K |
| Net Assets | $1.4M |
| Operating Margin | 100.0% |
| Debt-to-Asset Ratio | 34.2% |
Financial Health Grade: A
In 2023, Local 500 Building Corp reported a surplus of $90K with revenue exceeding expenses, has a debt-to-asset ratio of 34.2% (moderate leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.7% | — | -4.2% |
| 2022 | -58.2% | — | -4.3% |
| 2019 | -928.1% | — | -3.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Local 500 Building Corp with a Mission Score of 10 out of 100 (Very Poor). 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, Local 500 Building Corp allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 34.2%.
Executive Compensation Analysis
No officer compensation has been reported in any of the available filings, indicating that executive compensation is not a financial burden for the organization.
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 Local 500 Building Corp's IRS 990 filings:
- Consistent reporting of $0 expenses across all filings, making financial analysis impossible.
- Continuous decline in assets over the past decade, from $3,015,075 in 2014 to $2,144,054 in 2023.
- Negative revenue reported in multiple years (e.g., -$80,825 in 2020, -$148,627 in 2019), indicating financial instability or significant losses.
- Lack of transparency regarding how funds are utilized due to absent expense data.
Strengths
The following positive indicators were identified for Local 500 Building Corp:
- No reported officer compensation, indicating no direct financial burden from executive salaries.
- Liabilities have decreased significantly over the decade, from $2,263,552 in 2014 to $733,334 in 2023.
Frequently Asked Questions about Local 500 Building Corp
Is Local 500 Building Corp a legitimate charity?
Local 500 Building Corp (EIN: 141958493) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 10/100. It has 13 years of IRS 990 filings on record. Total revenue: $385K. 4 red flags identified. 2 strengths noted. Financial health grade: A.
How does Local 500 Building Corp spend its money?
Local 500 Building Corp reported $385K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Local 500 Building Corp tax-deductible?
Local 500 Building Corp is registered as a tax-exempt nonprofit (EIN: 141958493). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Local 500 Building Corp compare to similar nonprofits?
With a transparency score of 10/100 (Very Poor), Local 500 Building Corp is below average for NTEE category S47 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Local 500 Building Corp located?
Local 500 Building Corp is headquartered in Gaithersburg, Maryland and files with the IRS under EIN 141958493. It is classified under NTEE code S47.
How many years of IRS 990 filings does Local 500 Building Corp have?
Local 500 Building Corp has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $385K in total revenue.
Why does Local 500 Building Corp consistently report $0 in expenses?
The IRS 990 filings for Local 500 Building Corp consistently show $0 in expenses across all reported periods. This is highly unusual for an organization with significant assets and revenue, suggesting either a unique operational structure where all costs are borne by another entity, or a significant reporting error or omission in their filings. Without expense data, it's impossible to assess operational efficiency or program spending.
What is the cause of the continuous decline in assets?
Local 500 Building Corp's assets have steadily decreased from $3,015,075 in 2014 to $2,144,054 in 2023. While liabilities have also decreased, the consistent asset depreciation, especially in the absence of reported expenses, raises questions about the organization's long-term financial sustainability and asset management strategies.
How does the organization generate revenue if it has no reported expenses?
The organization reports revenue (e.g., $90,225 in 2023) but no expenses. This could imply that the revenue is primarily from non-operating sources, such as investment income or rental income where maintenance and operational costs are handled by a related entity, or that expenses are being absorbed by a parent organization or affiliate and not reported on this specific 990.
Filing History
IRS 990 filing history for Local 500 Building Corp showing financial trends over 13 years of public records:
Total assets decreased by 34.9% over the same period, from $3.3M to $2.1M. The organization holds $733K in liabilities against $2.1M in assets (debt-to-asset ratio: 34.2%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $90K | $0 | $2.1M | $733K | — | View 990 |
| 2022 | $82K | $0 | $2.2M | $917K | — | View 990 |
| 2021 | $197K | $0 | $2.3M | $1.1M | — | View 990 |
| 2020 | $-80,825 | $0 | $2.5M | $1.4M | — | — |
| 2019 | $-148,627 | $0 | $2.5M | $1.4M | — | View 990 |
| 2018 | $18K | $0 | $2.6M | $1.8M | — | View 990 |
| 2017 | $27K | $0 | $2.7M | $1.9M | — | — |
| 2016 | $29K | $0 | $2.8M | $2.0M | — | View 990 |
| 2015 | $27K | $0 | $2.9M | $2.1M | — | View 990 |
| 2014 | $-20,392 | $0 | $3.0M | $2.3M | — | View 990 |
| 2013 | $-26,590 | $0 | $3.1M | $2.3M | — | View 990 |
| 2012 | $-22,574 | $0 | $3.2M | $2.4M | — | View 990 |
| 2011 | $-55,209 | $0 | $3.3M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $90K, expenses of $0, and assets of $2.1M (revenue +9.7% year-over-year).
- 2022: Revenue of $82K, expenses of $0, and assets of $2.2M (revenue -58.2% year-over-year).
- 2021: Revenue of $197K, expenses of $0, and assets of $2.3M.
- 2020: Revenue of $-80,825, expenses of $0, and assets of $2.5M.
- 2019: Revenue of $-148,627, expenses of $0, and assets of $2.5M (revenue -928.1% year-over-year).
- 2018: Revenue of $18K, expenses of $0, and assets of $2.6M (revenue -33.5% year-over-year).
- 2017: Revenue of $27K, expenses of $0, and assets of $2.7M (revenue -6.9% year-over-year).
- 2016: Revenue of $29K, expenses of $0, and assets of $2.8M (revenue +5.9% year-over-year).
- 2015: Revenue of $27K, expenses of $0, and assets of $2.9M.
- 2014: Revenue of $-20,392, expenses of $0, and assets of $3.0M.
- 2013: Revenue of $-26,590, expenses of $0, and assets of $3.1M.
- 2012: Revenue of $-22,574, expenses of $0, and assets of $3.2M.
- 2011: Revenue of $-55,209, expenses of $0, and assets of $3.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 500 Building Corp:
Data Sources and Methodology
This transparency report for Local 500 Building Corp 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.