Rainbow Aquatics Swim Team Incorporated
Nonprofit profile at a glance
- EIN
- 990317114
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990-EZ 2024
- Location
- Honolulu, HI, USA
- Phone
- 6193927502
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Swimming & Other Water Recreation
Reported finances
- Revenue
- $134,955
- Expenses
- $147,608
- Assets
- $30,861
- Liabilities
- $1,286
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- Monica LaBriola (President)
- Jason Ohara (Vice President)
People named in this filing
- Monica LaBriola (President)
- Jason Ohara (Vice President)
- Agnes Loi (Meet Entry dir.)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of our team is to provide every swimmer with an opportunity to improve swimming skills and achieve success at his or her level of ability, from novice to international competitor.
What it reported doing in 2024
Rainbow Aquatics is a year-round competitive swim team, offering high-quality professional coaching and technique instruction for all ages and abilities. Our swim team offers practices in Honolulu and Kaneohe, utilizing a number of local pools. All of our coaches, as members of USA Swimming, have access to the most comprehensive training and certification program for youth coaches of any sport in the United States. They provide assurances that the time children spend swimming will be quality time. The primary beneficiaries of the program are youth swimmers, ranging from novices to those competing at regional levels. BOWS offers structured training across four progressive swim groups: Novice, Beginner, Intermediate, and Senior. Each group focuses on developing specific skills, from introducing the four competitive strokes to enhancing stroke efficiency and preparing for elite competitions. In FYE 8/31/25 the number of swimmers on the roster was approximately 150. The overall objective of Rainbow Aquatics is to provide every swimmer with the opportunity to improve their skills and achieve success at their level of ability, fostering a lifelong love for swimming. Practices are held Monday thru Friday all year round totaling approximately 1,250 practice hours. Practice is held at multiple locations, including Palolo Valley Park, Kanewai Community Pool, Kalani High School, Kaimuki High School, and Kaneohe District Park. The team hosts an Invitational Swim meet and ABC meet annually that serves approximately 1,000 Hawaii swimmers. In addition to practices and swim meets the team participates in team building activities such as camping, bowling, and hiking to foster camaraderie.
Operating model
- Revenue model
- Donor-supported. 76% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 100
- Sustainability: 24
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94.8%; rating input score 95
- Program expense ratio: 86.7%; rating input score 87
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -9.4%; rating input score 16; 16th percentile among comparable filings
- Total-asset coverage ratio: 0.21; rating input score 19; 19th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: -8.6% per year; rating input score 0; 16th percentile among comparable filings
- Revenue growth: -13.4% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: -38.9% per year; rating input score 0; 3rd percentile among comparable filings
Details
- Where the money goes: 94.8% of revenue deployed · 86.7% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $128K in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- 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 — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 16/100.
- High — Sustainability: Total-asset coverage ratio scored 19/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.