Rainbow Babies & Childrens Corporation
- Assets
- $110.0m
- Revenue
- $10.1m
- Investments
- $27.9m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 09/1999
- Data as of
- 12/2021
- EIN
- 34-6532528
Organization Overview
Rainbow Babies & Childrens Corporation is located in Cleveland, OH. The organization was established in 1999. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Babies & Childrens Corporation 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 Babies & Childrens Corporation generated $10.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT FOR PATIENT CARE, RESEARCH AND EDUCATIONAL PROGRAMS FOR INPATIENT AND OUTPATIENT SERVICES AT RAINBOW BABIES AND CHILDREN'S HOSPITAL THROUGH STRONG ADVOCACY, PARTNERSHIP AND FINANCIAL SUPPORT.
Describe the Organization's Program Activity:
FUNDS TO PROVIDE FINANCIAL, PARTNERSHIP AND ADVOCACY SUPPORT FOR PATIENT CARE, RESEARCH AND EDUCATIONAL PROGRAMS FOR INPATIENT AND OUTPATIENT SERVICES AT RAINBOW BABIES AND CHILDREN'S HOSPITAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Collette Laisure President | OfficerTrustee | 5 | $0 |
Lynne Marcus Cohen Vp-Trustee | OfficerTrustee | 5 | $0 |
Nancy Berardinelli-Krantz Vice President | OfficerTrustee | 5 | $0 |
Kimberlee Monaghan Vp-Treasurer | OfficerTrustee | 5 | $0 |
Danielle Weiner President Elect | OfficerTrustee | 5 | $0 |
Richelle Mccoy Vp-Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,307,604 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,307,604 |
| Total Program Service Revenue | $0 |
| Investment income | $1,781,551 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,997,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,086,919 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $866,292 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $100,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $138,945 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,208,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,046,266 |
| Pledges and grants receivable | $51,450 |
| Accounts receivable, net | $0 |
| 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 | $1,680 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $60,821,735 |
| Investments—other securities | $27,939,270 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,169,541 |
| Total assets | $110,029,942 |
| Accounts payable and accrued expenses | $46,194 |
| Grants payable | $18,794,924 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,841,118 |
| Net assets without donor restrictions | $60,642,188 |
| Net assets with donor restrictions | $30,546,636 |
| 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 | $110,029,942 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Rainbow Babies & Childrens Corporation has recieved totaling $1,227,758.
| Awarding Organization | Amount |
|---|---|
Cleveland Foundation Cleveland, OH PURPOSE: 38TH ANNUAL RAINBOW GOLF CLASSIC. THIS GRANT MAY NOT BE USED IN EXCHANGE FOR TICKETS, TABLES OR ANY BENEFIT RECEIVED BY THE FUND ADVISOR OR ANY FAMILY MEMBER(S). | $1,053,467 |
Cure Childhood Cancer Inc Atlanta, GA PURPOSE: CANCER RESEARCH | $165,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,291 |
Endowment Analysis
| Beg. Balance | $101,112,781 |
| Earnings | $9,100,876 |
| Net Contributions | -$2,052 |
| Grants | $3,719,258 |
| Ending Balance | $106,492,347 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Good Shepherd Specialty Hospital Allentown, PA | $18,736,864 | $17,427,993 |
Tgch Inc Waynesburg, PA | $21,231,985 | $18,105,026 |
Diley Ridge Medical Center Columbus, OH | $94,551,304 | $31,219,163 |
Community Health And Dental Care Inc Pottstown, PA | $5,981,782 | $16,427,913 |
Axesspointe Community Health Center Inc Akron, OH | $17,131,238 | $18,832,393 |
Aspire Indiana Health Noblesville, IN | $3,576,197 | $13,333,064 |
Riggs Community Health Center Inc Lafayette, IN | $25,254,127 | $14,878,610 |
Sterling Health Solutions Inc Mt Sterling, KY | $9,010,714 | $13,531,321 |
Crandall Medical Center Sebring, OH | $8,312,895 | $13,468,364 |
Kentucky Primary Care Association Inc Frankfort, KY | $24,979,444 | $13,536,797 |
Community Health And Social Services Center Detroit, MI | $16,372,987 | $11,811,249 |
Community Health Centers Of Western Kentucky Inc Greenville, KY | $18,210,332 | $12,355,929 |