Rainbow of Magnolia Fountains of Life

Analysis

Rainbow of Magnolia Fountains of Life is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 2009, 17 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 December 2023, Rainbow of Magnolia Fountains of Life reported income of $383k and spending of $384k, spending 100% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $219k to $383k (+75%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 102% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Rainbow of Magnolia Fountains of Life sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within WA. Charities of a similar size with the same main cause include Daughters of Divine Love Development Ministry ($383k), Womens Federation for World Peace Inc ($384k) and Angel of Faith Non Profit ($383k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $10k against liabilities of $0, net assets of $10k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.