Rainbow Bible School Inc

Analysis

Rainbow Bible School Inc is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in January 2001, 25 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Rainbow Bible School Inc reported income of $1.1m and spending of $1.2m, spending 104% of its income. Across the 4 years on record, from July 2020 to July 2023, income grew from $659k to $1.1m (+68%), an average of +19% a year. The sharpest change came in the year to July 2022, when income rose by 66%. Over the whole period it spent 102% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Rainbow Bible School Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Collegiate Strength & Conditioning Coaches Association Inc ($1.1m), Nevada Stars Inc ($1.1m) and JSG Amateur Sports Corporation ($1.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 27% and program service revenue 71% of the total. Other salaries and wages came to $882k. At year end it held assets of $1.0m against liabilities of $7,013, net assets of $996k. It reported 76 employees.