Rainey Day Foundation Inc
Nonprofit profile at a glance
- EIN
- 831296102
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2023
- Location
- Camden, NJ, USA
- Phone
- 8553673331
- Rating
- 62
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Educational Services and Schools - Other
Reported finances
- Revenue
- $53,717
- Expenses
- $31,101
- Assets
- $29,649
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- LORAINE CURTIS (PRESIDENT)
- TEANICE WELLS (VICE PRESIDENT)
People named in this filing
- LORAINE CURTIS (PRESIDENT)
- CHEREE BERRY (TREASURER)
- TEANICE WELLS (VICE PRESIDENT)
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 the rainey day college foundation is to provide essential resources and financial assistance to college students from underserved areas. Through scholarships, mentorship, and community partnerships, we strive to create equitable eduational opportunities, enabling all students to achieve their academic and personal goals.
What it reported doing in 2024
The scholarship black out gala an annual themed event designed to bring us closer to achieving our mission of providing college scholarships to every young adult entering college - making sure they are supported during challenging times when financial resources are limited or inaccessible.
Operating model
- Revenue model
- Donor-supported. 86% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.
The verdict
SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 52
- Transparency & Controls: 82
- Sustainability: 69
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 41.2%; rating input score 41
- Program expense ratio: 71.1%; rating input score 71
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 42.1%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 0.95; rating input score 45; 45th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 41.2% of revenue deployed · 71.1% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $22K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.