Rainbow Housing Corporation

Tax-deductible

Middletown, CT501(c)(3)Since 1988EIN 06-1237602

To identify, prepare and establish residential facilities for persons with mental illness and substance abuse challenges and hold these and other fixed assets.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $88K a year · 23% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $539K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$316K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
+374% vs prior year
Spent
$438K
To programs
96%
Net assets
$4.8M
By yearFY2020–FY2024
Revenue
$2.2M
FY2024▲ +374%
Revenue by fiscal year
FY2020$408K
FY2021$373K
FY2022$380K
FY2023$334K
FY2024$468K
FY2024$2.2M
Expenses
$438K
FY2024▲ +42%
Expenses by fiscal year
FY2020$291K
FY2021$295K
FY2022$324K
FY2023$303K
FY2024$308K
FY2024$438K
Net assets
$4.8M
FY2024▲ +64%
Net assets by fiscal year
FY2020$2.5M
FY2021$2.7M
FY2022$2.7M
FY2023$2.8M
FY2024$2.9M
FY2024$4.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $419K Management & general 4% · $19K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
President &
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary &
$0Pt VII · Sec A
Secretary &
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Rainbow Housing Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides housing and support for people with mental illness and substance abuse.

Provided by the organization

This section is blank until Rainbow Housing Corporation claims this page.

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1 program service account for $419K of program spending, described in the organization's own filed words · FY2024.
01

To lease facilities and other fixed assets established for persons with mental illness and substance abuse to gilead community services, inc., our sister organization.

$419Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$539K
Grants paid · 1 grant · $185K · 2024–2024
Gilead Community Services INCCT · FY2024$185,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Other incomeLn 4–11$1.9M
Investment incomeLn 3$145K
Fees for servicesLn 2g$100K
Money outPt IX
$438K
Ln 25
Programscol B$419K
Managementcol C$19K
Owns and owesPt X
$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$146K
Total assetsLn 16$5.1M
LiabilitiesLn 26$316K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$94K
Fees for servicesLn 2g$100K
Investment incomeLn 3$145K
Other incomeLn 4–11$1.9M
Gains on assetsLn 7$70K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$146K
Cash and savings togetherLn 1–2$146K
InvestmentsLn 11–13$3.3M
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$5.1M
LiabilitiesLn 26$316K
Net assetsLn 32$4.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$142K$146K
InvestmentsLn 11–13$1.3M$3.3M
Land, buildings, equipmentLn 10c$1.9M$1.7M
Total assetsLn 16$3.3M$5.1M
LiabilitiesLn 26$358K$316K
Net assetsLn 32$2.9M$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$185K$185K
Accounting feesLn 11c$6K$6K
OccupancyLn 16$7K$7K
InterestLn 20$13K$13K
Depreciation, depletion and amortizationLn 22$151K$151K
Other expenses (24a–d)Ln 24$77K$63K$14K
Total functional expensesLn 25$438K$419K$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $468K$308K$160K$2.9M 990 PDF
FY2023 $334K$303K$30K$2.8M 990 PDF
FY2022 $380K$324K$57K$2.7M 990 PDF
FY2021 $373K$295K$78K$2.7M 990 PDF
FY2020 $408K$291K$117K$2.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $2,219,251 across 8 lines filed
VIII-1d Related organizations$67,553
VIII-1f All other contributions, gifts and grants$26,450
VIII-1h Total contributions, gifts and grants$94,003
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $99,727$99,727
VIII-3 Investment incomeExcluded from tax $74,423$74,423
VIII-7 Net gain or loss on sales of assetsRelated to mission $70,469 · Excluded from tax −$371$70,098
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,881,000$1,881,000
VIII-12 Total revenueRelated to mission $170,196 · Excluded from tax $1,955,052$2,219,251
Part IX · Statement of functional expenses $438,211 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $185,000$185,000
IX-11c Accounting feesManagement $5,545$5,545
IX-16 OccupancyPrograms $7,406$7,406
IX-20 InterestPrograms $12,753$12,753
IX-22 Depreciation, depletion and amortizationPrograms $150,549$150,549
IX-24 Other expenses (24a–d)Programs $63,228 · Management $13,730$76,958
IX-25 Total functional expensesPrograms $418,936 · Management $19,275 · Fundraising $0$438,211
Part X · Balance sheet $5,136,644 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $142,420$146,071
X-4 Accounts receivableStart of year $44,136$26,000
X-10c Land, buildings and equipment, netStart of year $1,856,689$1,705,769
X-11 Publicly traded securitiesStart of year $1,250,875$3,258,804
X-16 Total assetsStart of year $3,294,120$5,136,644
X-17 Accounts payable and accrued expensesStart of year $12,598$13,746
X-25 Other liabilitiesStart of year $42,120$27,045
X-26 Total liabilitiesStart of year $358,280$315,685
X-27 Net assets without donor restrictionsStart of year $2,927,322$4,812,441
X-28 Net assets with donor restrictionsStart of year $8,518$8,518
X-32 Total net assets or fund balancesStart of year $2,935,840$4,820,959
X-33 Total liabilities and net assetsStart of year $3,294,120$5,136,644
Part XI · Reconciliation of net assets $4,820,959 net assets at year end
XI-1 Total revenue$2,219,251
XI-2 Total expenses$438,211
XI-3 Revenue less expenses$1,781,040
XI-4 Net assets at start of year$2,935,840
XI-5 Net unrealized gains (losses) on investments$104,079
XI-10 Net assets at end of year$4,820,959

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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