Rainbow Foundation Inc

Nonprofit profile at a glance

EIN
225053005
IRS 990-EZ coverage
2012–2021
Forms available
Form 990-EZ 2021
Location
Rumson, NJ, USA
Phone
7326714343
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Patient Services - Entertainment, Recreation

Reported finances

Revenue
$1,866
Expenses
$11,442
Assets
$72,462

Source: IRS Form 990-EZ. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • EDWARD KARABAN (PRESIDENT)

People named in this filing

  • MARGARET KARABAN (CHAIRMAN)
  • EDWARD KARABAN (PRESIDENT)
  • ROBERT BONGO (VICE PRES.)

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 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the organization is to provide financial assistance to needy and very sick children and their families.

What it reported doing in 2021

Funds are raised by the organization to providefinancial help to the needy and very sick children.approximately 1,500 children benefit from the funds raised.

Operating model

Revenue model
Donor-supported. 100% 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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 32
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -513.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 6.33; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -18% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -20.7% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $11K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2012 to 2021
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.