Rainbows of Learning Inc

Analysis

Rainbows of Learning Inc is a registered charity in United States, based in Augusta, NJ. It received its IRS tax-exemption ruling in August 1971, 55 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 August 2023, Rainbows of Learning Inc reported income of $1.2m and spending of $1.1m, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $884k to $1.2m (+40%), an average of +8.7% a year. The sharpest change came in the year to August 2021, when income rose by 46%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainbows of Learning Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 84th percentile within NJ. Charities of a similar size with the same main cause include Great Beginnings Montessori School Inc ($1.2m), Cancer Support Community of Greater Ann Arbor ($1.2m) and Pope & Young Club Inc ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 6.9% and program service revenue 93% of the total. Other salaries and wages came to $762k. At year end it held assets of $2.2m against liabilities of $1.1m, net assets of $1.1m. It reported 16 employees.