Over the Rainbow Life Fund

Nonprofit profile at a glance

EIN
823679095
IRS 990 coverage
2017–2025
Forms available
Form 990 2025
Location
Evanston, IL, USA
Phone
8473286633
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$377,824
Expenses
$110,000
Assets
$3,830,294
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • ERIC HUFFMAN (PRESIDENT)

Highest reported compensation

  • ERIC HUFFMAN (PRESIDENT): $284,711 total reported compensation
  • LES RUSSO (VP/TREASURER): $208,430 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Over the rainbow life fund was created to provide ongoing and long term support for over the rainbow's services program. The services program was developed to help residents of over the rainbow apartments acquire the skills and resources they need to live independently. It also aims to help residents connect with educational, recreational, and other wellness resources in their communities with which they can enhance their own sense of well-being. The acronym life stands for living independently, feeling empowered.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 81
  • Accountability: 95
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.1%; rating input score 29
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 10th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 70.9%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 34.82; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: -15.4% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 29.1% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $110K in reported program spending
  • Leadership: top reported pay $285K · 6 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 9 filing years from 2017 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 29/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.