Rainey Institute

Analysis

Rainey Institute is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in July 1957, 69 years ago. 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 August 2023, Rainey Institute reported income of $2.3m and spending of $2.2m, spending 97% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.4m to $2.3m (+62%), an average of +13% a year. The sharpest change came in the year to August 2021, when income rose by 177%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainey Institute 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 Melrose Day Care Center Inc ($2.3m), Plaza Heights Christian Academy ($2.3m) and Valley Transit ($2.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 67% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $129k (5.8% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $11.8m against liabilities of $563k, net assets of $11.3m. It reported 81 employees.