Rainbow Babies & Children's Foundation

Nonprofit profile at a glance

EIN
346532528
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Cleveland, OH, USA
Phone
2162253888
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Hospitals and Related Primary Medical Care Facilities

Reported finances

Revenue
$8,911,241
Expenses
$522,018
Assets
$106,479,171
Liabilities
$792,948

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

Leadership & pay

41 people listed

Executive titles in this filing

  • STACEY EDWARDS (PRESIDENT FROM 5/24)
  • GAIL STEIN (VICE PRESIDENT)
  • DANIELLE WEINER (PRESIDENT TO 5/24)
  • COLLETTE A LAISURE (PAST PRESIDENT TO 5/24)

People named in this filing

  • STACEY EDWARDS (PRESIDENT FROM 5/24)
  • MELTRICE SHARP (VP-FINANCE, TREASURER)
  • REBECCA C HELLER (VP-DEVELOPMENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Provide support for patient care, research, and educational programs for inpatient and outpatient services at rainbow babies and children's hospital through strong advocacy, partnership and financial support.

What it reported doing in 2024

Funds to provide financial partnership and advocacy support for patient care, research and educational programs for inpatient and outpatient services at rainbow babies and children's hospital.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 51
  • Accountability: 88
  • Sustainability: 97
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • 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 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 94.1%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 203.98; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -5.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -0.1% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 37 of 37 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 41 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.