505 Sports Ventures Foundation Inc

Nonprofit profile at a glance

EIN
881351798
IRS 990 coverage
2022–2022
Forms available
Form 990 2022
Location
Albuquerque, NM, USA
Phone
5053054729
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$611,840
Expenses
$526,904
Assets
$84,936
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • KURT ROTH (PRESIDENT)
  • RAQUEL JESSICA LACESNE (VICE PRESIDENT)

People named in this filing

  • KURT ROTH (PRESIDENT)
  • RAQUEL JESSICA LACESNE (VICE PRESIDENT)
  • ERIC SIEGEL (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Assist student athletes residing in nm and participating in intercollegiate sports to cover costs associated with food, shelter, medical expenses & insurance and provide compensation to student atheletes to use their name, image & likeness (nil) or facilitate opportunities for student athletes to earn compensation from a third party for nil.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 55
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.4%; rating input score 74
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $8.54 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 13.9%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 74.4% of revenue deployed · 86.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $455K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.