Rainbow Housing Corporation

Analysis

Rainbow Housing Corporation is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in January 1992, 34 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rainbow Housing Corporation reported income of $334k and spending of $303k, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $375k to $334k (-11%), an average of -2.9% a year. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainbow Housing Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within CT. Charities of a similar size with the same main cause include Gianna Womens Clinic Inc NFP ($334k), Norcal Mavericks ($334k) and Starkfresh ($333k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 61% of the total. At year end it held assets of $3.7m against liabilities of $928k, net assets of $2.8m.