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Rainbow Plaza INC

Tax-deductible

Lompoc, CA501(c)(3)EIN 95-3465026Revenue $565K in FY2024

On file with the IRS220 W Pine Avenue, 93436-4019 · Lompoc, CATax-exempt since May 1980Publicly supported — 509(a)(2)

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To provide low income housing to handicapped and elderly persons

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

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
3 of 5
filings with a surplus
Average surplus $64K a year · 13% of revenue · last 5 filings
Worth a look: a surplus in 3 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
27 mo
of spending, in cash
Looks good: 27.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 6 voting members
Looks good: 4 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$565K
+7% vs prior year
Spent
$566K
To programs
96%
Net assets
$408K
By yearFY2020–FY2024
Revenue
$565K
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$479K
FY2021$483K
FY2022$505K
FY2023$530K
FY2024$565K
Expenses
$566K
FY2024-0.2%
Tap a bar for its year
Expenses by fiscal year
FY2020$406K
FY2021$335K
FY2022$366K
FY2023$567K
FY2024$566K
Net assets
$408K
FY2024-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$160K
FY2021$308K
FY2022$447K
FY2023$410K
FY2024$408K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1980.

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% · $543K Management & general 4% · $23K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Cindy Grayum
President
$0Pt VII · Sec A
Patricia Garner
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Terrell Day
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Rainbow Plaza INC 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

Provides affordable housing for disabled and elderly individuals.

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Provided by the organization

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1 program · $543K · in their own filed words · FY2024
01

To provide low income housing to handicapped and elderly persons

$543Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$565K
Ln 12
Fees for servicesLn 2g$564K
Investment incomeLn 3$636
Money outPt IX
$566K
Ln 25
Programscol B$543K
Managementcol C$23K
Owns and owesPt X
$408K
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$2.8M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$564K
Investment incomeLn 3$636
Total revenueLn 12$565K
Assets in detailPt X, end of year
CashLn 1$77K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.3M
Land, buildings, equipmentLn 10c$1.3M
Total assetsLn 16$2.8M
LiabilitiesLn 26$2.4M
Net assetsLn 32$408K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$1.4M$1.3M
Land, buildings, equipmentLn 10c$1.3M$1.3M
Total assetsLn 16$2.8M$2.8M
LiabilitiesLn 26$2.4M$2.4M
Net assetsLn 32$410K$408K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$117K$117K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$7K$7K
Management feesLn 11a$28K$28K
Accounting feesLn 11c$23K$23K
Advertising and promotionLn 12$341$341
Office expensesLn 13$7K$7K
OccupancyLn 16$62K$62K
InterestLn 20$105K$105K
Depreciation, depletion and amortizationLn 22$110K$110K
InsuranceLn 23$52K$52K
Other expenses (24a–d)Ln 24$43K$43K
All other expensesLn 24e$10K$10K
Total functional expensesLn 25$566K$543K$23K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $565K$566K−$2K$408K 990 PDF
FY2023 $530K$567K−$37K$410K 990 PDF
FY2022 $505K$366K$139K$447K 990 PDF
FY2021 $483K$335K$148K$308K 990 PDF
FY2020 $479K$406K$73K$160K 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 $564,516 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $529,214$563,880
I-10 Investment incomePrior year $789$636
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $530,003$564,516
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 $108,446$125,544
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $458,571$440,562
I-18 Total expensesPrior year $567,017$566,106
I-19 Revenue less expensesPrior year −$37,014−$1,590
Part VI · Governance 4 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members4
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 $564,516 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $563,880$563,880
VIII-3 Investment incomeRelated to mission $636$636
VIII-12 Total revenueRelated to mission $564,516 · Unrelated business $0 · Excluded from tax $0$564,516
Part IX · Statement of functional expenses $566,106 across 13 lines filed
IX-7 Other salaries and wagesPrograms $116,663$116,663
IX-9 Other employee benefitsPrograms $1,890$1,890
IX-10 Payroll taxesPrograms $6,991$6,991
IX-11a Management feesPrograms $28,275$28,275
IX-11c Accounting feesManagement $23,085$23,085
IX-12 Advertising and promotionManagement $341$341
IX-13 Office expensesPrograms $7,073$7,073
IX-16 OccupancyPrograms $61,689$61,689
IX-20 InterestPrograms $105,156$105,156
IX-22 Depreciation, depletion and amortizationPrograms $110,444$110,444
IX-23 InsurancePrograms $51,837$51,837
IX-24 Other expenses (24a–d)Programs $42,758$42,758
IX-24e All other expensesPrograms $9,904$9,904
IX-25 Total functional expensesPrograms $542,680 · Management $23,426 · Fundraising $0$566,106
Part X · Balance sheet $2,769,439 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $140,580$77,214
X-2 Savings and temporary cash investmentsStart of year $1,240,729$1,217,030
X-4 Accounts receivableStart of year $2,243$328
X-9 Prepaid expenses and deferred chargesStart of year $26,441$29,796
X-10c Land, buildings and equipment, netStart of year $1,273,453$1,289,214
X-14 Intangible assetsStart of year $160,591$155,857
X-16 Total assetsStart of year $2,844,037$2,769,439
X-17 Accounts payable and accrued expensesStart of year $67,408$24,603
X-19 Deferred revenueStart of year $1,901$1,603
X-25 Other liabilitiesStart of year $12,036$12,116
X-26 Total liabilitiesStart of year $2,434,278$2,361,270
X-27 Net assets without donor restrictionsStart of year $409,759$408,169
X-32 Total net assets or fund balancesStart of year $409,759$408,169
X-33 Total liabilities and net assetsStart of year $2,844,037$2,769,439
Part XI · Reconciliation of net assets $408,169 net assets at year end
XI-1 Total revenue$564,516
XI-2 Total expenses$566,106
XI-3 Revenue less expenses−$1,590
XI-4 Net assets at start of year$409,759
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$408,169

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

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