Rainbow of Challenges Inc

Analysis

Rainbow of Challenges Inc is a registered charity in United States, based in Hope, AR. It received its IRS tax-exemption ruling in September 1972, 54 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 June 2023, Rainbow of Challenges Inc reported income of $22.3m and spending of $17.3m, leaving 22% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $15.2m to $22.3m (+47%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainbow of Challenges Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within AR. Charities of a similar size with the same main cause include Cheshire Academy ($22.3m), KCRW Foundation Inc ($22.3m) and Jerome Home ($22.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $248k (1.4% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $18.7m against liabilities of $497k, net assets of $18.2m. It reported 549 employees.