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Rainbow Dreams Educational Foundation FY2020 filing

Tax-deductible

Las Vegas, NV501(c)(3)Education EIN 88-0430382Revenue $50K in FY2020

On file with the IRSrainbowdreamsfoundation.orgPo Box 34271, 89133-4271 · Las Vegas, NVTax-exempt since Mar 2000Publicly supported charity — 170(b)(1)(A)(vi)

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To strengthen and support historically underserved communities in southern Nevada through educational and cultural programs and services.

501(c)(3) charity; gifts are tax-deductible.
8¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
0 of 5
filings with a surplus
Average deficit $64K a year · 48% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
8%
of spending
Concern: 8% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$50K
Spent
$57K
To programs
8%
Net assets
$565K
By yearFY2020–FY2024
Revenue
$50K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$50K
FY2021$86K
FY2022$193K
FY2023$132K
FY2024$212K
Expenses
$57K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$57K
FY2021$198K
FY2022$294K
FY2023$217K
FY2024$229K
Net assets
$565K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$565K
FY2021$505K
FY2022$453K
FY2023$366K
FY2024$379K

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2000.

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

Where the money goes

8 cents of each dollar spent went to programs.

Program services 8% · $5K Management & general 28% · $16K Fundraising 64% · $37K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Dr Christine Clark
Board Member
$0Pt VII · Sec A
Hannah Brown
Board Member
$0Pt VII · Sec A
Marie Ray Scott
Board Member
$0Pt VII · Sec A
Exie Seastrunk
Board Member
$0Pt VII · Sec A
Cheri Resh
Board Member
$0Pt VII · Sec A
David Pulliam
Board Member
$0Pt VII · Sec A
Cindy Braden
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Rainbow Dreams Educational 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Strengthens underserved communities with educational and cultural programs.

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Provided by the organization

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3 programs · $5K · in their own filed words · FY2019
01

Rainbow Dreams Academy Charter School is a primary provider of early and middle childhood education, family engagement, professional development programming, and support services in Clark County, Nevada. The program targets at-risk youth and under-served populations, currently serving over 350 students in kindergarten to eighth grade.

$5Kprogram expense
02

For the past 19 years, RDEF has sponsored the Juneteenth Celebration in Las Vegas which connects community services to the students, their families, and the community at large and honors the cultural and historical contributions of Africans to American culture.

Pt IX · col B
03

The Rainbow Dreams Scholarship program provides financial assistance to deserving high school graduates. Each year the foundation provides six scholarships of varying amounts to assist them of meeting the financial burden of 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 · FY2024
NV Energy Charitable FoundationFY2024$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 2 grants · $64K · 2021–2022
The Hbcu Promise INCGA · FY2022$38,918
Rainbow Dreams AcademyFY2021$25,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$50K
Ln 12
Gifts and grantsLn 1h$55K
Money outPt IX
$57K
Ln 25
Programscol B$5K
Managementcol C$16K
Fundraisingcol D$37K
Owns and owesPt X
$565K
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$577K
LiabilitiesLn 26$12K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$55K
Government grantsLn 1e$0
Noncash giftsLn 1g$40K
Fundraising eventsLn 1c$3K
Total revenueLn 12$50K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$577K
LiabilitiesLn 26$12K
Net assetsLn 32$565K
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderJune
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 FY20End FY20
Cash and savingsLn 1–2$2K$7K
InvestmentsLn 11–13$0
Total assetsLn 16$5.9M$577K
LiabilitiesLn 26$4.0M$12K
Net assetsLn 32$2.0M$565K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$47K$370$13K$34K
Other fees for servicesLn 11g$9K$4K$2K$3K
Office expensesLn 13$938$0$938$0
Total functional expensesLn 25$57K$5K$16K$37K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $212K$229K−$16K$379K 990 PDF
FY2023 $132K$217K−$85K$366K 990 PDF
FY2022 $193K$294K−$102K$453K 990 PDF
FY2021 $86K$198K−$112K$505K 990 PDF
FY2020 Viewing $50K$57K−$7K$565K 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 M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $50,023 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $84,016$54,545
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $19,358−$4,522
I-12 Total revenuePrior year $103,374$50,023
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $76,500$47,384
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $49,513$9,938
I-18 Total expensesPrior year $126,013$57,322
I-19 Revenue less expensesPrior year −$22,639−$7,299
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $50,023 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$2,741
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$51,804
VIII-1g Noncash contributions (included above)$40,475
VIII-1h Total contributions, gifts and grants$54,545
VIII-6 Net rental income or lossRelated to mission −$4,522 · Unrelated business $0 · Excluded from tax $0−$4,522
VIII-12 Total revenueRelated to mission −$4,522 · Unrelated business $0 · Excluded from tax $0$50,023
Part IX · Statement of functional expenses $57,322 across 3 lines filed
IX-7 Other salaries and wagesPrograms $370 · Management $12,920 · Fundraising $34,094$47,384
IX-11g Other fees for servicesPrograms $4,200 · Management $1,950 · Fundraising $2,850$9,000
IX-13 Office expensesPrograms $0 · Management $938 · Fundraising $0$938
IX-25 Total functional expensesPrograms $4,570 · Management $15,808 · Fundraising $36,944$57,322
Part X · Balance sheet $577,453 assets, 20 lines filed
Asset lines not itemized here account for $567,633; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,852$6,996
X-3 Pledges and grants receivableStart of year $14,502$2,708
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $2,268$116
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 $5,934,211$577,453
X-17 Accounts payable and accrued expensesStart of year $163,357$12,500
X-18 Grants payable$0
X-19 Deferred revenue$0
X-20 Tax-exempt bond liabilities$0
X-24 Unsecured notes and loans payable$0
X-26 Total liabilitiesStart of year $3,967,280$12,500
X-27 Net assets without donor restrictionsStart of year $1,966,931$564,953
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,966,931$564,953
X-33 Total liabilities and net assetsStart of year $5,934,211$577,453
Part XI · Reconciliation of net assets $564,953 net assets at year end
XI-1 Total revenue$50,023
XI-2 Total expenses$57,322
XI-3 Revenue less expenses−$7,299
XI-4 Net assets at start of year$1,966,931
XI-5 Net unrealized gains (losses) on investments−$1,394,679
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$564,953

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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