Provides academic scholarships to LGBTQ+ and allied students, in addition to a variety of other programs and non-profit organizations. The Foundation provides leadership and fundraising support for other community projects and causes.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $21K a year · 33% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
15 mo
of spending, in cash
Looks good: 15.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $185
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 12 voting members
Looks good: 9 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$57K
-13% vs prior year
Spent
$97K
To programs
85%
Net assets
$119K
By yearFY2020–FY2025
Revenue
$57K
FY2023▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$34K
FY2021$70K
FY2022$66K
FY2023$57K
FY2024$74K
FY2025$59K
Expenses
$97K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023$97K
FY2024$89K
FY2025$68K
Net assets
$119K
FY2023▼ -25%
Tap a bar for its year
Net assets by fiscal year
FY2020$138K
FY2021$179K
FY2022$158K
FY2023$119K
FY2024$104K
FY2025$95K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2009.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $82K Management & general 15% · $14K

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

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Executive Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Rainbow Chamber Foundation 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 15aNo

Programs and updates

Supports LGBTQ+ business professionals with education, scholarships, and recognition.

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Provided by the organization

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2 programs · $82K · in their own filed words · FY2023
01

To receive contributions and to make donations to, dispense charitable contributions through, and otherwise aid and support those organizations that qualify as exempt organizations under Section 501(0)(3) of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue Law).

$82Kprogram expense
02

To provide scholarships to individuals for payments towards higher education.

Pt IX · col B

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$185
Grants paid · 3 grants · $76K · 2023–2025
Unitemized GrantFY2025$21,000
Unitemized GrantFY2024$29,500
Unitemized GrantFY2023$25,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$57K
Ln 12
Other incomeLn 4–11$45K
Fees for servicesLn 2g$12K
Investment incomeLn 3$113
Money outPt IX
$97K
Ln 25
Programscol B$82K
Managementcol C$14K
Owns and owesPt X
$119K
net assets · Ln 32
Cash and savingsLn 1–2$123K
Total assetsLn 16$123K
LiabilitiesLn 26$4K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$12K
Investment incomeLn 3$113
Other incomeLn 4–11$45K
Gains on assetsLn 7$0
Total revenueLn 12$57K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$89K
Cash and savings togetherLn 1–2$123K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$123K
LiabilitiesLn 26$4K
Net assetsLn 32$119K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$166K$123K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$166K$123K
LiabilitiesLn 26$8K$4K
Net assetsLn 32$158K$119K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$25K$25K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$2K$1K$361
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$1K$1K$270
Advertising and promotionLn 12$0
Office expensesLn 13$269$215$54
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$5K$4K$1K
InterestLn 20$0
Payments to affiliatesLn 21$58K$47K$12K
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$910$728$182
Other expenses (24a–d)Ln 24$3K$3K$673
All other expensesLn 24e$431$345$86
Total functional expensesLn 25$97K$82K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $59K$68K−$9K$95K 990 PDF
FY2024 $74K$89K−$15K$104K 990 PDF
FY2023 Viewing $57K$97K−$39K$119K 990 PDF
FY2022 $66K$158K 990 PDF
FY2021 $70K$179K 990 PDF
FY2020 $34K$138K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $57,467 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,911$0
I-9 Program service revenuePrior year $20,386$12,198
I-10 Investment incomePrior year $56$113
I-11 Other revenue$45,156
I-12 Total revenuePrior year $28,353$57,467
I-13 Grants and similar amounts paidPrior year $26,500$25,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $37,729$71,723
I-18 Total expensesPrior year $64,229$96,723
I-19 Revenue less expensesPrior year −$35,876−$39,256
Part VI · Governance 9 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $57,467 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,198$12,198
VIII-3 Investment incomeRelated to mission $113$113
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$45,156
VIII-12 Total revenueRelated to mission $12,311$57,467
Part IX · Statement of functional expenses $96,723 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $25,000$25,000
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $1,446 · Management $361$1,807
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $1,080 · Management $270$1,350
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $215 · Management $54$269
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $4,188 · Management $1,047$5,235
IX-20 Interest$0
IX-21 Payments to affiliatesPrograms $46,683 · Management $11,671$58,354
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $728 · Management $182$910
IX-24 Other expenses (24a–d)Programs $2,694 · Management $673$3,367
IX-24e All other expensesPrograms $345 · Management $86$431
IX-25 Total functional expensesPrograms $82,379 · Management $14,344 · Fundraising $0$96,723
Part X · Balance sheet $123,171 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $77,086$33,792
X-2 Savings and temporary cash investmentsStart of year $89,288$89,379
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $166,374$123,171
X-19 Deferred revenueStart of year $8,000$4,000
X-25 Other liabilitiesStart of year −$39$14
X-26 Total liabilitiesStart of year $7,961$4,014
X-27 Net assets without donor restrictionsStart of year $128,776$87,385
X-28 Net assets with donor restrictionsStart of year $29,637$31,772
X-32 Total net assets or fund balancesStart of year $158,413$119,157
X-33 Total liabilities and net assetsStart of year $166,374$123,171
Part XI · Reconciliation of net assets $119,157 net assets at year end
XI-1 Total revenue$57,467
XI-2 Total expenses$96,723
XI-3 Revenue less expenses−$39,256
XI-4 Net assets at start of year$158,413
XI-10 Net assets at end of year$119,157

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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