Rainbow Soccer Ltd

Analysis

Rainbow Soccer Ltd is a registered charity in United States, based in Chapel Hill, NC. It received its IRS tax-exemption ruling in February 1977, 49 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 May 2024, Rainbow Soccer Ltd reported income of $409k and spending of $384k, spending 94% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $298k to $409k (+37%), an average of +8.3% a year. The sharpest change came in the year to May 2022, when income rose by 125%. Over the whole period it spent 86% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Rainbow Soccer Ltd sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include Western Wake Tennis Association Inc ($409k), Notus Sports ($409k) and Yankton Area Ice Association ($409k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 7.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $95k (25% of expenses). Other salaries and wages came to $27k. At year end it held assets of $567k against liabilities of $5,483, net assets of $561k. It reported 6 employees.