Rainbow Montessori Inc

Analysis

Rainbow Montessori Inc is a registered charity in United States, based in Bloomfield, NJ. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Rainbow Montessori Inc reported income of $3.8m and spending of $3.5m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $3.8m (+58%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rainbow Montessori Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within NJ. Charities of a similar size with the same main cause include Cape Fear Community College Foundation Inc ($3.8m), Center for Independence Through Conductive Education Inc ($3.8m) and Creative Learning Academy of Pensacola Inc ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $422k (12% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $1.2m against liabilities of $62k, net assets of $1.1m. It reported 119 employees.