Rainbow Foundation Inc in Middletown, New Jersey (NJ)

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Rainbow Foundation Inc
Employer Identification Number (EIN)225053005
Name of OrganizationRainbow Foundation Inc
Address15 Cherry Tree Farm Rd, Middletown, NJ 07748-2201
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date08/1985
DeductibilityContributions are deductible
FoundationSuspense
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2014
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$81,007
Amount of Income$115,270
Form 990 Revenue Amount$115,270
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Patient Services - Entertainment, Recreation


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Amount of income in 2014: $115,270 (it was $60,181 in 2013)
This organization: 

 $115,270
Other organizations performing similar types of work: 

 $919,872

Assets in 2014: $81,007 (it was $75,346 in 2013)
This organization: 

 $81,007
Other organizations performing similar types of work: 

 $1,807,767

Expenses in 2013: $43,158
Rainbow Foundation Inc: 

 $43,158
Other organizations performing similar types of work: 

 $673,178

Income to expenses ratio in 2013: 2.7
This organization: 

 2.7
Other organizations performing similar types of work: 

 1.3

Grants share in income in 2013: 80.8%
Rainbow Foundation Inc: 

 80.8%
Other organizations performing similar types of work: 

 80.5%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$29,184$46,103$60,181
Contributions, gifts, grants, and similar amounts received$5,127$10,720$48,598
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Investment income$247$232$221
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$23,810$35,151$11,362
Gross income from gaming$0$0$0
Gross income from fundraising events$45,661$40,856$65,013
Less: direct expenses from gaming and fundraising events$21,851$5,705$53,651
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$35,179$33,260$43,158
Total net assets$11,654$25,246$42,905
Excess/Deficit for the year$-5,995$12,843$17,023
Net assets or fund balances at beginning of year$17,806$11,654$25,246
Other changes in net assets or fund balances$-157$749$636
Net assets or fund balances at end of year$25,246$42,905
Balance Sheets
201120122013
Total assets$56,451$63,927$75,346
Total liabilities$44,797$38,681$32,441
Net assets or fund balances$11,654$25,246$42,905
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$136,632
Subtotal$136,632
Gifts, grants, contributions, and membership fees received$136,632
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$0
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$138,864
Public support$136,632
Subtotal$2,232
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$2,232
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Ronald Mcdonald House Charities Of Eastern Wisconsin Inc8948 W Watertown Plank Rd, Wauwatosa, WI 53226-4802WI1983-06$15,741,123
2Make A Wish Foundatin Of New Jersey1347 Perrineville Rd, Monroe Twp, NJ 08831-9006NJ1985-10$9,591,276
3Ronald Mcdonald House Charities Of The Intermountain Area Inc1135 E South Temple, Salt Lake Cty, UT 84102-1605UT1986-02$5,092,230
4Ronald Mcdonald House Of Providence Inc45 Gay St, Providence, RI 02905-2322RI1987-12$4,597,175
5Ronald Mcdonald House Of Cleveland Inc10415 Euclid Ave, Cleveland, OH 44106-4709OH1979-02$3,993,307
6Starlight Childrens Foundation, Ny Nj Ct Chapter1560 Broadway Suite 600, New York, NY 10036-1537NY1987-09$3,404,152
7Ronald Mcdonald House Charities Of The Southwest Inc3413 10th St, Lubbock, TX 79415-5348TX1984-04$2,956,275
8Ronald Mcdonald House Charities Inc, Of The New York Tri State Area Inc111 Wood Ave S Ste 400, Iselin, NJ 08830-2700NJ2007-12$2,818,275
9Ronald Mcdonald House Charities Of Nashville Tn Inc2144 Fairfax Ave, Nashville, TN 37212-3629TN1990-03$2,132,589
10Ronald Mcdonald House Charities Of Charleston South Carolina IncOf Charleston Sc Inc 81 Gadsen St, Charleston, SC 29401SC1982-03$1,832,195
11Ronald Mcdonald House Charities Of Greater Chattanooga Inc200 Central Ave, Chattanooga, TN 37403-1506TN1988-06$1,736,310
12Ronald Mcdonald House Charities Of Northwest Ohio Inc3883 Monroe St, Toledo, OH 43606-3930OH1982-03$1,727,611
13Ronald Mcdonald House Charities Of Burlington Vt Inc16 S Winooski Ave, Burlington, VT 05401-3828VT1983-06$1,468,342
14Ronald Mcdonald House Charities Of Southern West Virginia Inc302 30th St Se, Charleston, WV 25304-1131WV1984-09$1,012,648
15Ronald Mcdonald House Charities Of Charlottesville Inc300 9th St Sw, Charlottesvle, VA 22903-3454VA1981-09$1,004,127
16The Ronald Mcdonald House Of Galveston, Help Us Give Support301 14th St, Galveston, TX 77550-2611TX1985-01$931,698
17Ronald Mcdonald House Charities1705 W Clinch Ave, Knoxville, TN 37916-2407TN1983-05$728,532
18Ronald Mcdonald House Charities Of Richmond Va Inc2330 Monument Ave, Richmond, VA 23220-2604VA1978-11$676,260
19Rainbow Foundation Inc15 Cherry Tree Farm Rd, Middletown, NJ 07748-2201NJ1985-08$115,270
20Joey Bella Fund Inc15 Myers Ave, Denville, NJ 07834-2120NJ1988-11$97,315
Number of organizations performing similar types of work
Alabama5
Arkansas1
Arizona1
California15
Colorado3
Connecticut2
Florida10
Georgia5
Hawaii2
Iowa5
Idaho1
Illinois4
Indiana7
Kansas5
Kentucky4
Louisiana7
Massachusetts3
Maryland2
Maine2
Michigan5
Minnesota1
Missouri6
Mississippi3
Montana2
North Carolina10
North Dakota1
New Hampshire2
New Jersey4
New Mexico1
New York9
Ohio9
Oregon2
Pennsylvania6
Rhode Island1
South Carolina4
Tennessee10
Texas6
Utah1
Virginia8
Vermont1
Washington2
Wisconsin2
West Virginia2
Wyoming1
Total183

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