Rainbow Village Apts Inc

Organization Overview

Rainbow Village Apts Inc is located in Springfield, OR. The organization was established in 1975. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Village Apts 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 12/2021, Rainbow Village Apts Inc generated $896.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $671.9k during the year ending 12/2021. While expenses have increased by 4.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

A NON-PROFIT APARTMENT COMPLEX RUN BY THE LOCAL PRESBYTERIAN CHURCHES TO PROVIDE LOW-INCOME HOUSING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CORPORATION PROVIDES LOW INCOME HOUSING UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. OPERATIONS ARE SUBJECT RULES AND REGULATIONS OF HUD. THERE ARE 80 UNITS.


THE CORPORATION PROVIDES LOW INCOME HOUSING UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. OPERATIONS ARE SUBJECT RULES AND REGULATIONS OF HUD. THERE ARE 80 UNITS.


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Board, Officers & Key Employees

Name (title)Compensation
Lu-Nita Hawkins
Vice-Pres.
$0
Jerry Kalina
President
$0
Quentin Holmes
Secretary/tr
$0
Drew Emmett
Director
$0
Howard Ruland
Director
$0
Nancy Holloman
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $437,545
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$437,545
Total Program Service Revenue$459,364
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $896,909

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