Rainbow of Hope Texas

Analysis

Rainbow of Hope Texas is a registered charity in United States, based in Pearland, TX. It received its IRS tax-exemption ruling in May 2020, 6 years ago. 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 Hope Texas reported income of $74k and spending of $92k, spending 125% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $74k to $74k (-0.4%), an average of -0.4% a year. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rainbow of Hope Texas sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 30th percentile within TX. Charities of a similar size with the same main cause include Wat Lao Santitham ($74k), Brother Wolf Foundation ($74k) and West Michigan Jazz Society ($74k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $49k against liabilities of $0, net assets of $49k.