Rainbow Homes Non-Profit Housing Corporation

Analysis

Rainbow Homes Non-Profit Housing Corporation is a registered charity in United States, based in Holt, MI. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Rainbow Homes Non-Profit Housing Corporation reported income of $762k and spending of $729k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $675k to $762k (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rainbow Homes Non-Profit Housing Corporation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Associates in Christian Counseling ($762k), Recovery Cafe San Jose Inc ($762k) and Pittsburgh Conservation Corps ($762k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.0% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $59k (8.0% of expenses). Other salaries and wages came to $431k. At year end it held assets of $267k against liabilities of $345k, net assets of -$78k. It reported 33 employees.