Rainbow Labs Mentoring Inc

Analysis

Rainbow Labs Mentoring Inc is a registered charity in United States, based in W Hollywood, CA. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 Labs Mentoring Inc reported income of $486k and spending of $364k, leaving 25% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $136k to $486k (+257%), an average of +89% a year. The sharpest change came in the year to December 2022, when income rose by 279%. Over the whole period it spent 79% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Rainbow Labs Mentoring Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include Police Activities League of Massena Inc ($485k), Reclaiming Youth at Risk ($486k) and Reconstructing Youth Foundation Inc ($485k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $90k. At year end it held assets of $260k against liabilities of $28k, net assets of $232k. It reported 4 employees.