Rainbow Housing Texas Inc

Nonprofit profile at a glance

EIN
752817205
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Glendale, AZ, USA
Phone
6029031843
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$481,290
Expenses
$415,638
Assets
$-6,658,913
Liabilities
$15,716

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

Leadership & pay

5 people listed

Executive titles in this filing

  • FLYNANN JANISSE (PRESIDENT/CHAIRMAN OF THE)

People named in this filing

  • GARY SILVERSMITH (SECRETARY & TREASURER & DI)
  • FLYNANN JANISSE (PRESIDENT/CHAIRMAN OF THE)
  • DERRICK N FLETCHER (RESIDENT DIRECTOR)

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

To preserve quality, affordable housing in the state of Texas.

What it reported doing in 2024

To provide charitable relief to the poor, elderly, and handicapped through adequate housing and the improvement of their general standard of living and quality of life. To initiate or participate in the rehabilitation or construction of housing in deteriorated neighborhoods, the restoration of historically significant downtown areas and other civic improvements in the state of Texas.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - 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: 73
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 39
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 13.6%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: -16.02; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -27.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -12.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -26.6% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 90.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $375K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 35 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.