Rainbow Junction Ltd

Analysis

Rainbow Junction Ltd is a registered charity in United States, based in Penn Yan, NY. It received its IRS tax-exemption ruling in March 1972, 54 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Rainbow Junction Ltd reported income of $951k and spending of $1.0m, spending 109% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $363k to $951k (+162%), an average of +27% a year. The sharpest change came in the year to August 2020, when income rose by 45%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rainbow Junction Ltd sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Noble County Family Y M C a ($951k), Child Care Council of Buchanan County ($952k) and Roxbury Daycare Center Inc ($951k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 10% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $50k (4.8% of expenses). Other salaries and wages came to $669k. At year end it held assets of $306k against liabilities of $20k, net assets of $286k. It reported 28 employees.