Wide Rainbow Corp

Analysis

Wide Rainbow Corp is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2022, Wide Rainbow Corp reported income of $429k and spending of $397k, spending 93% of its income. Across the 2 years on record, from December 2020 to December 2022, income grew from $220k to $429k (+95%), an average of +95% a year. The sharpest change came in the year to December 2022, when income rose by 95%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wide Rainbow Corp sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 64th percentile within NY. Charities of a similar size with the same main cause include Scotusblog Inc ($429k), Angelica Cantanti Youth Choirs ($429k) and Rivendell Theatre Ensemble ($429k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $40k (10% of expenses). At year end it held assets of $99k against liabilities of $1,034, net assets of $98k.