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Rainbow Babies & Childrens Foundation

Tax-deductible

Cleveland, OH501(c)(3)Since 1896HospitalsEIN 34-6532528Revenue $8.9M in FY2024

On file with the IRS11100 Euclid Ave, 44106-1716 · Cleveland, OHTax-exempt since Sep 1999Supporting organization — 509(a)(3)

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Provide support for patient care, research and educational programs for inpatient and outpatient services at Rainbow Babies and children's hospital through strong advocacy, partnership and financial support.

501(c)(3) charity; gifts are tax-deductible.
Run by 50 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · 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 $7.8M a year · 84% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 23.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $400K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$793K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
37
of 37 voting members
Looks good: 37 of 37 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.9M
-18% vs prior year
Spent
$522K
To programs
0%
Net assets
$105.7M
By yearFY2020–FY2024
Revenue
$8.9M
FY2024▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.4M
FY2021$10.1M
FY2022$9.1M
FY2023$10.9M
FY2024$8.9M
Expenses
$522K
FY2024▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$1.2M
FY2022$2.0M
FY2023$681K
FY2024$522K
Net assets
$105.7M
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$80.0M
FY2021$91.2M
FY2022$84.8M
FY2023$93.8M
FY2024$105.7M

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

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1999.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $522K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

41 people listed on the 990.

Part VII, Section A · reportable compensation
Stacey Edwards
President from 5/24
$0Pt VII · Sec A
Meltrice Sharp
Vp-Finance, Treasurer
$0Pt VII · Sec A
Rebecca C Heller
Vp-Development
$0Pt VII · Sec A
Amy Foti
Vp-Secretary
$0Pt VII · Sec A
Gail Stein
Vice President
$0Pt VII · Sec A
Karen L Greco
Vp-Advocacy
$0Pt VII · Sec A
Erin Connor Reif
Vp-Marketing
$0Pt VII · Sec A
Danielle Weiner
President to 5/24
$0Pt VII · Sec A
See Rainbow Babies & Childrens 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 patient care, research, and education at Rainbow Babies and Children's Hospital.

Questions for Rainbow Babies & Childrens Foundation

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Funds to provide financial partnership and advocacy support for patient care, research and educational programs for inpatient and outpatient services at rainbow babies and children's hospital.

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 · FY2024
Hyundai Hope on WheelsFY2024$325K
Rhodes Robert R TrFY2024$57K
American Online Giving Foundation INCFY2024$19K
Total grants receivedfrom 3 funders$400K
See all 3 funders →
Grants paid · 4 grants · $26.4M · 2020–2023
University Hospitals Health System INCOH · FY2023$6,219,412
University Hospitals Health System INCOH · FY2022$6,552,777
University Hospitals Health System INCOH · FY2021$6,035,846
University Hospitals Health System INCOH · FY2020$7,567,394

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$8.9M
Ln 12
Investment incomeLn 3$4.6M
Gifts and grantsLn 1h$4.3M
Money outPt IX
$522K
Ln 25
Managementcol C$522K
Owns and owesPt X
$105.7M
net assets · Ln 32
Cash and savingsLn 1–2$999K
Total assetsLn 16$106.5M
LiabilitiesLn 26$793K
PeoplePt VI, VII
41
listed · VII A
PaidVII A0
Voting boardVI 1a37
IndependentVI 1b37
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.3M
Investment incomeLn 3$4.6M
Gains on assetsLn 7$3.5M
Total revenueLn 12$8.9M
Assets in detailPt X, end of year
SavingsLn 2$999K
Cash and savings togetherLn 1–2$999K
InvestmentsLn 11–13$89.4M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$16.0M
Total assetsLn 16$106.5M
LiabilitiesLn 26$793K
Net assetsLn 32$105.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.3M$999K
InvestmentsLn 11–13$82.6M$89.4M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$101.5M$106.5M
LiabilitiesLn 26$7.7M$793K
Net assetsLn 32$93.8M$105.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$89K$89K
Investment management feesLn 11f$322K$322K
Other fees for servicesLn 11g$111K$111K
Total functional expensesLn 25$522K$0$522K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $8.9M$522K$8.4M$105.7M 990 PDF
FY2023 $10.9M$681K$10.2M$93.8M 990 PDF
FY2022 $9.1M$2.0M$7.1M$84.8M 990 PDF
FY2021 $10.1M$1.2M$8.9M$91.2M 990 PDF
FY2020 $7.4M$2.8M$4.6M$80.0M 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 (6 parts)
Part I · Summary $8,911,241 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,595,585$4,317,486
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $7,302,417$4,593,755
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $10,898,002$8,911,241
I-13 Grants and similar amounts paidPrior year $210,466$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $470,820$522,018
I-18 Total expensesPrior year $681,286$522,018
I-19 Revenue less expensesPrior year $10,216,716$8,389,223
Part VI · Governance 37 of 37 board members independent, 3 to look at
VI-1a Voting members of the governing body37
VI-1b Independent voting members37
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $8,911,241 across 5 lines filed
VIII-1f All other contributions, gifts and grants$4,317,486
VIII-1h Total contributions, gifts and grants$4,317,486
VIII-3 Investment incomeExcluded from tax $1,065,828$1,065,828
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,527,927$3,527,927
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,593,755$8,911,241
Part IX · Statement of functional expenses $522,018 across 3 lines filed
IX-11c Accounting feesManagement $89,331$89,331
IX-11f Investment management feesManagement $322,057$322,057
IX-11g Other fees for servicesManagement $110,630$110,630
IX-25 Total functional expensesPrograms $0 · Management $522,018 · Fundraising $0$522,018
Part X · Balance sheet $106,479,171 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,334,925$998,713
X-3 Pledges and grants receivableStart of year $45,650$35,565
X-9 Prepaid expenses and deferred chargesStart of year $7,056$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-12 Other securitiesStart of year $82,585,517$89,404,576
X-15 Other assetsStart of year $17,501,856$16,040,317
X-16 Total assetsStart of year $101,475,004$106,479,171
X-17 Accounts payable and accrued expensesStart of year $24,997$5,099
X-18 Grants payableStart of year $7,652,318$787,849
X-26 Total liabilitiesStart of year $7,677,315$792,948
X-27 Net assets without donor restrictionsStart of year $63,283,761$74,628,251
X-28 Net assets with donor restrictionsStart of year $30,513,928$31,057,972
X-32 Total net assets or fund balancesStart of year $93,797,689$105,686,223
X-33 Total liabilities and net assetsStart of year $101,475,004$106,479,171
Part XI · Reconciliation of net assets $105,686,223 net assets at year end
XI-1 Total revenue$8,911,241
XI-2 Total expenses$522,018
XI-3 Revenue less expenses$8,389,223
XI-4 Net assets at start of year$93,797,689
XI-5 Net unrealized gains (losses) on investments$3,499,311
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$105,686,223

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

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