Rainbow Express Ministries

Analysis

Rainbow Express Ministries is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in January 2015, 11 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Express Ministries reported income of $388k and spending of $396k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $248k to $388k (+57%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 221%. Over the whole period it spent 60% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Rainbow Express Ministries sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NC. Charities of a similar size with the same main cause include Threesixty ($388k), North Arkansas Gospel Mission ($388k) and Jet-Jewish Education Team Inc ($388k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 20% of the total. Other salaries and wages came to $213k. At year end it held assets of $2.6m against liabilities of $3,112, net assets of $2.6m. It reported 5 employees.