Rainbow Child Development Center Inc

Analysis

Rainbow Child Development Center Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in February 1974, 52 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Rainbow Child Development Center Inc reported income of $6.0m and spending of $5.0m, spending 84% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.5m to $6.0m (+139%), an average of +24% a year. The sharpest change came in the year to June 2024, when income rose by 48%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainbow Child Development Center Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Laura Baker School Association ($6.0m), The Family Tree Inc ($6.0m) and Essex-Newark Legal Service Project ($6.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $144k (2.9% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $7.1m against liabilities of $1.4m, net assets of $5.8m. It reported 67 employees.