The Rainbow Project Inc

Analysis

The Rainbow Project Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in August 1983, 43 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, The Rainbow Project Inc reported income of $2.1m and spending of $1.4m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.1m (+97%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 41%. 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, The Rainbow Project 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 86th percentile, and in the 87th percentile within WI. Charities of a similar size with the same main cause include SSM Health Foundation ($2.1m), Southwest Christian Hospice and Hope House Inc ($2.1m) and Idaho Coalition Against Sexual and Domestic Violence Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $125k (8.8% of expenses). Other salaries and wages came to $758k. At year end it held assets of $3.3m against liabilities of $343k, net assets of $2.9m. It reported 21 employees.