Rainbow Child Development Center Inc
- Assets
- $5.1m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 34
- Location
- Worcester, MA
- Founding
- 02/1974
- Data as of
- 06/2022
- EIN
- 04-2507815
Organization Overview
Rainbow Child Development Center Inc is located in Worcester, MA. The organization was established in 1974. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Rainbow Child Development Center Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Child Development Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Rainbow Child Development Center Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 0.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDED AS A NOT-FOR-PROFIT CHILD CARE AGENCY SERVING CHILDREN RANGING FROM INFANCY TO 12 YEARS OF AGE IN THREE SEPERATE PROGRAMS AS WELL AS IN SOCIAL SERVICES AND SPEECH THERAPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY DAY CARE- PROVIDE SUPPORT TO FAMILY CHILD CARE AND EDUCATIONAL SERVICES IN ACCORDANCE WITH CONTRACT REQUIREMENTS. 259 CHILDREN WERE SERVED DURING FISCAL YEAR 2022 RESULTING IN 294 CHILDCARE DAYS.
PRESCHOOL DAY CARE SERVICES - PROVIDE CHILDCARE AND EDUCATIONAL SERVICES, AND PRESCHOOL CHILDREN WITH SOCIAL SERVICE AND DEVELOPMENTAL SUPPORT FOR THE CHILDREN AND THEIR FAMILIES. 65 CHILDREN WERE SERVED DURING FISCAL YEAR 2022 RESULTING IN 12,259 CHILDCARE DAYS.
SCHOOL AGE DAY CARE - PROVIDE CHILD CARE AND EDUCATIONAL SERVICES AFTER SCHOOL AND CAMP DURING THE SUMMER FOR CHILDREN, INCLUDING DEVELOPMENTAL AND SOCIAL SERVICE SUPPORT FOR THE CHILDREN AND THEIR FAMILIES. 101 CHILDREN WERE SERVED DURING FISCAL YEAR 2022 RESULTING IN 16,275 CHILDCARE DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula Perrier Executive Director | Officer | 40 | $116,351 |
Linda Hyde President | OfficerTrustee | 2 | $0 |
Erin Rosenlund Board Treasurer | OfficerTrustee | 2 | $0 |
Karen Longo Board Clerk | OfficerTrustee | 2 | $0 |
Lynne Grden Board Member | Trustee | 1 | $0 |
Daniel D'amico Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cutler Playground Renovator | 6/29/18 | $417,893 |
Ultiplay Playground Renovator | 6/29/18 | $191,413 |
Aa Transportation Bus Transportation | 6/29/18 | $314,674 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $45,095 |
| Membership dues | $0 |
| Fundraising events | $37,469 |
| Related organizations | $0 |
| Government grants | $2,960,446 |
| All other contributions, gifts, grants, and similar amounts not included above | $250,229 |
| Noncash contributions included in lines 1a–1f | $35,660 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,293,239 |
| Total Program Service Revenue | $28,535 |
| Investment income | $151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,475 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,317,450 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $124,827 |
| Compensation of current officers, directors, key employees. | $93,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,029,132 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $56,810 |
| Payroll taxes | $83,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,490 |
| Fees for services: Accounting | $35,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,008 |
| Advertising and promotion | $0 |
| Office expenses | $58,640 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $192,835 |
| Travel | $128,568 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,708 |
| Insurance | $37,119 |
| All other expenses | $25,508 |
| Total functional expenses | $2,637,768 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,876,415 |
| Savings and temporary cash investments | $179,284 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $641,653 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,710 |
| Net Land, buildings, and equipment | $2,320,466 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,066,528 |
| Accounts payable and accrued expenses | $143,683 |
| Grants payable | $0 |
| Deferred revenue | $208,793 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $190,209 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $229,194 |
| Total liabilities | $771,879 |
| Net assets without donor restrictions | $4,250,890 |
| Net assets with donor restrictions | $43,759 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,066,528 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Rainbow Child Development Center Inc has recieved totaling $135,000.
| Awarding Organization | Amount |
|---|---|
George I Alden Trust Worcester, MA PURPOSE: TO FURTHER EDUCATION | $50,000 |
Osterman Family Foundation Whitinsville, MA PURPOSE: EXTENDED LEARNING AFTER-SCHOOL TUTORING INITIATIVE PROGRAM | $35,000 |
Mabel A Horne Fund Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $15,000 |
Albert W Rice Char Tr Ua Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $10,000 |
Reliant Foundation Inc Worcester, MA PURPOSE: CREATIVE ARTS HEALTH AND WELLNESS PROGRAM FOR YOUTH | $10,000 |
Dcu For Kids Marlborough, MA | | $8,000 |
Peer Organizations
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|---|---|---|
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Cambridge School Of Weston Inc Weston, MA | $57,046,494 | $20,616,161 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Harvey School Katonah, NY | $30,358,551 | $19,988,341 |
Lincoln School Providence, RI | $36,052,997 | $18,197,199 |
The Harley School Rochester, NY | $36,830,266 | $16,619,746 |
Quad Preparatory School New York, NY | $14,717,917 | $18,563,667 |
Amber Charter School New York, NY | $18,229,334 | $20,911,182 |
Green Vale School Old Brookville, NY | $64,002,052 | $17,567,329 |
Winchendon School Inc Winchendon, MA | $68,621,046 | $15,557,946 |