Rainbow Hil Apartments Incorporated

Analysis

Rainbow Hil Apartments Incorporated is a registered charity in United States, based in Bartlesville, OK. It received its IRS tax-exemption ruling in September 1981, 45 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 February 2024, Rainbow Hil Apartments Incorporated reported income of $1.5m and spending of $154k, leaving 90% of income unspent that year. Across the 5 years on record, from February 2020 to February 2024, income grew from $209k to $1.5m (+619%), an average of +64% a year. The sharpest change came in the year to February 2024, when income rose by 554%. Over the whole period it spent 36% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rainbow Hil Apartments Incorporated sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within OK. Charities of a similar size with the same main cause include Fair Housing Foundation ($1.5m), Operation Renewed Hope Foundation ($1.5m) and Harford Senior Housing Inc ($1.5m).

On its Form 990 for the period ending February 2024, revenue came from program service revenue 8.6% of the total. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m.