Rainbow Homes Non-Profit Housing Corporation
- Assets
- $321.9k
- Revenue
- $654.2k
- Investments
- $0.0
- Employees
- 36
- Location
- Holt, MI
- Founding
- 06/1999
- Data as of
- 12/2021
- EIN
- 38-3457782
Organization Overview
Rainbow Homes Non-Profit Housing Corporation is located in Holt, MI. The organization was established in 1999. According to its NTEE Classification (P73) the organization is classified as: Group Homes, under the broad grouping of Human Services and related organizations. As of 12/2021, Rainbow Homes Non-Profit Housing Corporation employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Homes Non-Profit Housing 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 Homes Non-Profit Housing Corporation generated $654.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $690.9k during the year ending 12/2021. While expenses have increased by 0.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT ORGANIZATION FOR THE PURPOSE TO HOUSE RESIDENTS WHO NEED HELP WITH MEALS, MEDICATION, LAUNDRY, TRANSPORTATION, HOUSEKEEPING & ETC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A HOUSE WHERE ADULTS WHO NEED HELP BECAUSE OF A HANDICAP CAN RESIDE.
TO PROVIDE A HOUSE WHERE ADULTS WHO NEED HELP BECAUSE OF A HANDICAP CAN RESIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Karnes President | Officer | 1 | $0 |
Tiffany Karnes Secretary | Officer | 1 | $0 |
Joseph Perrone Treasurer | Officer | 3 | $0 |
Marcia Evans Director | Trustee | 1 | $0 |
Lauren Rosier Director | Trustee | 1 | $0 |
Tom Keenoy Director | Trustee | 1 | $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 | $61,724 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,724 |
| Total Program Service Revenue | $529,176 |
| Investment income | $590 |
| 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 | $654,174 |
| 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. | $10,572 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $388,791 |
| Pension plan accruals and contributions | $13,059 |
| Other employee benefits | $28,401 |
| Payroll taxes | $66,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,772 |
| Fees for services: Accounting | $8,529 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $17,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,050 |
| Insurance | $27,055 |
| All other expenses | $2,322 |
| Total functional expenses | $690,903 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,018 |
| Savings and temporary cash investments | $3,210 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $262,701 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $321,929 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $347,366 |
| Other liabilities | $0 |
| Total liabilities | $347,366 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | -$25,437 |
| Total liabilities and net assets/fund balances | $321,929 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rainbow Homes Non-Profit Housing Corporation has recieved totaling $169.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $169 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buckeye Ranch Grove City, OH | $52,523,955 | $52,506,935 |
Champaign Residential Services Inc Urbana, OH | $32,789,817 | $40,282,333 |
Koinonia Homes Inc Independence, OH | $28,526,535 | $37,892,187 |
Spectrum Community Services Westland, MI | $14,825,808 | $33,552,520 |
Living Alternatives For The Developmentally Disabled Inc Dowagiac, MI | $6,575,914 | $26,131,876 |
Columbus Center For Human Services Inc Columbus, OH | $12,984,481 | $25,350,121 |
Clarity Care Inc Oshkosh, WI | $16,870,037 | $25,583,132 |
Sunshine Inc Residential And Support Services Maumee, OH | $20,313,876 | $30,237,496 |
Gateways To Better Living Inc Youngstown, OH | $7,271,771 | $25,029,491 |
Wolverine Human Services Vassar, MI | $27,159,446 | $23,943,991 |
Residential Opportunities Incorporated Kalamazoo, MI | $16,222,906 | $22,879,423 |
Bay Human Services Inc Standish, MI | $8,373,595 | $21,702,025 |