Over the Rainbow Arboretum West Apartments

Analysis

Over the Rainbow Arboretum West Apartments is a registered charity in United States, based in Evanston, IL. It received its IRS tax-exemption ruling in May 2022, 4 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 December 2023, Over the Rainbow Arboretum West Apartments reported income of $411k and spending of $359k, spending 87% of its income. Across the 3 years on record, from December 2020 to December 2023, income grew from $252k to $411k (+63%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Over the Rainbow Arboretum West Apartments sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within IL. Charities of a similar size with the same main cause include Schoolyard Square ($410k), Mother Theodore Corporation III ($411k) and Nhhi Asi-Senior Bloomington Inc ($410k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 12% of the total. Other salaries and wages came to $54k. At year end it held assets of $4.9m against liabilities of $1.1m, net assets of $3.8m.