Rainbow Homes Inc

Analysis

Rainbow Homes Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in April 1984, 42 years ago. 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 Homes Inc reported income of $2.2m and spending of $2.1m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $2.2m (+0.4%), an average of +0.1% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainbow Homes Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within OH. Charities of a similar size with the same main cause include Malachi House Inc ($2.2m), United Way of Henry County & Martinsville Inc ($2.2m) and Nami Collier County Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $213k (10% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $210k against liabilities of $246k, net assets of -$35k. It reported 47 employees.