Rainbow of Love Inc

Analysis

Rainbow of Love Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 of Love Inc reported income of $506k and spending of $279k, leaving 45% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $811k to $506k (-38%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 38%. Over the whole period it spent 51% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rainbow of Love Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Instituto de Avance Integral Latino Inc a Community Development Non-P ($505k), Life Model Works Inc ($506k) and Congressional Womens Softball Game Inc ($505k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $9,408 (3.4% of expenses). Other salaries and wages came to $136k. At year end it held assets of $1.3m against liabilities of $309k, net assets of $963k. It reported 10 employees.