Rainbow Gymnastics Inc

Analysis

Rainbow Gymnastics Inc is a registered charity in United States, based in Medford, WI. It received its IRS tax-exemption ruling in July 2011, 15 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Rainbow Gymnastics Inc reported income of $321k and spending of $171k, leaving 47% of income unspent that year. Across the 4 years on record, from August 2019 to August 2023, income grew from $238k to $321k (+35%), an average of +10% a year. The sharpest change came in the year to August 2023, when income rose by 71%. Over the whole period it spent 77% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Rainbow Gymnastics Inc sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within WI. Charities of a similar size with the same main cause include Paralyzed Veterans of America ($321k), Lighthouse Christian Athletics ($321k) and Little League Baseball Inc ($321k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 40% and program service revenue 58% of the total. Other salaries and wages came to $73k. At year end it held assets of $540k against liabilities of $227k, net assets of $313k. It reported 30 employees.