Rainbow Community School

Analysis

Rainbow Community School is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in March 1979, 47 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rainbow Community School reported income of $3.3m and spending of $3.1m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.7m to $3.3m (+23%), an average of +5.3% a year. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rainbow Community School 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 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include International Association of Arson Investigators Inc ($3.3m), Honor Society of Phi Kappa Phi ($3.3m) and International Charter School of Trenton ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.4% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $80k (2.6% of expenses). At year end it held assets of $4.9m against liabilities of $1.8m, net assets of $3.0m. It reported 68 employees.