Rainbow Fleet Inc

Analysis

Rainbow Fleet Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in June 1980, 46 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Fleet Inc reported income of $4.0m and spending of $4.4m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $4.0m (+112%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 34%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rainbow Fleet Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within OK. Charities of a similar size with the same main cause include Cyber Village Academy Inc ($4.0m), Incito Schools ($4.0m) and In Our Backyards Inc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $84k (1.9% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.1m against liabilities of $326k, net assets of $778k. It reported 57 employees.