Racing Unlimited Inc
Racing Unlimited Inc. faces significant revenue decline and recent operating losses despite growing assets.
EIN: 20543043 · Garden City, ID · NTEE: H12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $8K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $300,000. |
| Net Assets | $330K |
| Transparency Score | 55/100 |
Is Racing Unlimited Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Racing Unlimited Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Racing Unlimited Inc
Racing Unlimited Inc (EIN: 20543043) is a nonprofit organization based in Garden City, ID, classified under NTEE code H12. 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 Racing Unlimited Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Racing Unlimited Inc is a micro nonprofit that has been operating for 23 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -19.2%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $12K |
| Total Expenses | $8K |
| Surplus / Deficit | +$4K |
| Total Assets | $330K |
| Total Liabilities | $136 |
| Net Assets | $330K |
| Operating Margin | 34.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 520.5 months |
Financial Health Grade: A
In 2021, Racing Unlimited Inc reported a surplus of $4K with revenue exceeding expenses, holds 520.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2021), Racing Unlimited Inc's revenue has declined at a compound annual growth rate (CAGR) of -19.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -67.0% | -79.7% | +1.2% |
| 2020 | -71.2% | -49.5% | -0.5% |
| 2019 | -12.5% | -10.8% | +17.5% |
| 2018 | +61.7% | +116.2% | +25.7% |
| 2017 | -17.6% | -5.4% | +27.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Racing Unlimited Inc with a Mission Score of 55 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Racing Unlimited Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $4K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers or key employees are receiving salaries from the organization, which is highly unusual for an organization with assets over $300,000.
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 Racing Unlimited Inc's IRS 990 filings:
- Significant and consistent decline in revenue, from $140,523 in 2018 to $11,678 in 2021.
- Operating loss in 2020, where expenses ($37,456) exceeded revenue ($35,426).
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data.
- Unusually low revenue in 2021 ($11,678) compared to historical averages, raising questions about current operations.
- Consistent 0% officer compensation for an organization with over $300,000 in assets, which is atypical.
Strengths
The following positive indicators were identified for Racing Unlimited Inc:
- Consistent growth in net assets over time, reaching $330,012 in 2021.
- History of consistent IRS 990 filings, indicating transparency in reporting.
- Reported 0% officer compensation across all filings, suggesting low executive overhead.
- Maintained positive net assets despite recent revenue challenges.
Frequently Asked Questions about Racing Unlimited Inc
Is Racing Unlimited Inc a legitimate charity?
Racing Unlimited Inc (EIN: 20543043) is a registered tax-exempt nonprofit based in Idaho. Our AI analysis gives it a Mission Score of 55/100. It has 11 years of IRS 990 filings on record. 5 red flags identified. 4 strengths noted. Financial health grade: A.
How does Racing Unlimited Inc spend its money?
Racing Unlimited Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Racing Unlimited Inc tax-deductible?
Racing Unlimited Inc is registered as a tax-exempt nonprofit (EIN: 20543043). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Racing Unlimited Inc CEO make?
Racing Unlimited Inc's highest-compensated officer earns $300,000. annually. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Racing Unlimited Inc's spending goes to programs?
Racing Unlimited Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Racing Unlimited Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Racing Unlimited Inc is near average for NTEE category H12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Racing Unlimited Inc located?
Racing Unlimited Inc is headquartered in Garden City, Idaho and files with the IRS under EIN 20543043. It is classified under NTEE code H12.
How many years of IRS 990 filings does Racing Unlimited Inc have?
Racing Unlimited Inc has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Is Racing Unlimited Inc. a good charity?
While the organization has grown its assets to $330,012 and reports 0% officer compensation, its recent sharp decline in revenue (from $140,523 in 2018 to $11,678 in 2021) and operating loss in 2020 raise concerns about its financial sustainability and ability to consistently deliver on its mission.
Why has Racing Unlimited Inc.'s revenue dropped so significantly?
The provided data does not specify the reasons for the dramatic decrease in revenue from $140,523 in 2018 to $11,678 in 2021. This trend warrants further investigation into funding sources and operational changes.
How does Racing Unlimited Inc. cover its expenses with such low revenue?
In 2021, revenue ($11,678) exceeded expenses ($7,608), but in 2020, expenses ($37,456) were higher than revenue ($35,426). The organization appears to be drawing on its accumulated assets to cover operational shortfalls, which is not sustainable long-term without increased revenue.
What are the specific program activities of Racing Unlimited Inc.?
The NTEE code H12 indicates 'Amateur Sports, Clubs, & Leagues (General),' but the provided financial data does not detail the specific programs or services offered by Racing Unlimited Inc.
Is the 0% officer compensation sustainable or indicative of other issues?
While 0% officer compensation can indicate a volunteer-led organization, for an entity with significant assets and expenses, it might also suggest that key personnel are compensated through other means not reported as officer compensation, or that the organization relies heavily on unpaid volunteers, which could impact long-term stability.
Filing History
IRS 990 filing history for Racing Unlimited Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Racing Unlimited Inc's revenue has declined by 88.2%, moving from $99K to $12K. Total assets increased by 148.6% over the same period, from $133K to $330K. Total functional expenses fell by 35.1%, from $12K to $8K. In its most recent filing year (2021), Racing Unlimited Inc reported a surplus of $4K, with revenue exceeding expenses. The organization holds $136 in liabilities against $330K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $330K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $12K | $8K | $330K | $136 | — | — |
| 2020 | $35K | $37K | $326K | $365 | — | — |
| 2019 | $123K | $74K | $328K | $0 | — | View 990 |
| 2018 | $141K | $83K | $279K | $0 | — | View 990 |
| 2017 | $87K | $38K | $222K | $0 | — | View 990 |
| 2016 | $106K | $41K | $174K | $0 | — | View 990 |
| 2015 | $99K | $161K | $111K | $0 | — | View 990 |
| 2014 | $99K | $42K | $173K | $399 | — | View 990 |
| 2013 | $98K | $162K | $116K | $0 | — | View 990 |
| 2012 | $87K | $40K | $181K | $1K | — | View 990 |
| 2011 | $99K | $12K | $133K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $12K, expenses of $8K, and assets of $330K (revenue -67.0% year-over-year).
- 2020: Revenue of $35K, expenses of $37K, and assets of $326K (revenue -71.2% year-over-year).
- 2019: Revenue of $123K, expenses of $74K, and assets of $328K (revenue -12.5% year-over-year).
- 2018: Revenue of $141K, expenses of $83K, and assets of $279K (revenue +61.7% year-over-year).
- 2017: Revenue of $87K, expenses of $38K, and assets of $222K (revenue -17.6% year-over-year).
- 2016: Revenue of $106K, expenses of $41K, and assets of $174K (revenue +6.3% year-over-year).
- 2015: Revenue of $99K, expenses of $161K, and assets of $111K (revenue +0.3% year-over-year).
- 2014: Revenue of $99K, expenses of $42K, and assets of $173K (revenue +0.9% year-over-year).
- 2013: Revenue of $98K, expenses of $162K, and assets of $116K (revenue +12.4% year-over-year).
- 2012: Revenue of $87K, expenses of $40K, and assets of $181K (revenue -11.6% year-over-year).
- 2011: Revenue of $99K, expenses of $12K, and assets of $133K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Racing Unlimited Inc:
Data Sources and Methodology
This transparency report for Racing Unlimited 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.