Project Rainbow Utah

Nonprofit profile at a glance

EIN
833010257
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2019
Location
Salt Lake City, UT, USA
Phone
8014367452
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Lesbian, Gay Rights

Reported finances

Revenue
$212,631
Expenses
$207,980
Assets
$143,413
Liabilities
$2,878

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • JACEY THORNTON (EXECUTIVE DI): $54,004 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To empower and uplift lgbtq+ individuals throughout Utah by fostering visibility, promoting inclusivity, and providing crucial support through our community fund.

What it reported doing in 2024

Distributed grants to 31 projects. The projects were grouped into the following categories: i.inclusive program support: projects promoting access to activities and events and resources for our communities such as book clubs, resource apps, subsidized tickets and more. Ii.visual and performing arts: 21,000 projects across the spectrum of visual and performing arts as well as photographic and print publications, such as drag shows, zines, movies, and theater. Iii.pride festival community wide pride festivals across the state, including logan pride, davis pride, st. George pride, and Utah trans pride. Iv.miscellaneous programs one-off/special events that promote visibility, inclusion, and joy, such as fashion fluid, trans day of remembrance memorial, sister pride kick-off and more.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 72
  • Accountability: 84
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.9%; rating input score 81
  • Program expense ratio: 82.4%; rating input score 82
  • Fundraising efficiency: $37.07 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 34.2%; rating input score 34; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.2%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 26%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 12.7% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 80.9% of revenue deployed · 82.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $171K in reported program spending
  • Leadership: top reported pay $54K · 9 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Transparency & Controls: Grant itemization coverage scored 34/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.