Rainbow Festival Inc

Analysis

Rainbow Festival Inc is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Festival Inc reported income of $60k and spending of $82k, spending 137% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $48k to $60k (+26%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 26%. Over the whole period it spent 126% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rainbow Festival Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within CA. Charities of a similar size with the same main cause include Westmoreland Wheelhouse Inc ($60k), Irish Meadows Inc ($60k) and Servants Portion Inc ($60k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $38k against liabilities of $143k, net assets of -$105k.