Rainbow Omega Inc
- Assets
- $11.2m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 216
- Location
- Eastaboga, AL
- Founding
- 01/1992
- Data as of
- 09/2023
- EIN
- 63-1036500
Organization Overview
Rainbow Omega Inc is located in Eastaboga, AL. The organization was established in 1992. 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 09/2023, Rainbow Omega Inc employed 216 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Omega 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 09/2023, Rainbow Omega Inc generated $8.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $8.9m during the year ending 09/2023. While expenses have increased by 4.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE GROUP HOMES FOR DEVELOPMENTALLY DISABLED ADULTS IN A CARING AND NURTURING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED DAYHAB SERVICES, VOCATIONAL TRAINING AND RESPITE CARE SERVICES FOR RESIDENTS AND OTHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Hodge CEO | Officer | 40 | $124,443 |
Clay Blackwell Director & T | OfficerTrustee | $0 | |
Remelle Orman Davis Director | Trustee | $0 | |
Jeff Helms Director | Trustee | $0 | |
Ronald Hubbard Director | Trustee | $0 | |
Mona Jenkins Director & S | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $500,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,182,481 |
| Noncash contributions included in lines 1a–1f | $27,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,682,481 |
| Total Program Service Revenue | $6,484,578 |
| Investment income | $19,996 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $110,792 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,297,847 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,400,989 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $476,356 |
| Payroll taxes | $383,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,152 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,723 |
| Advertising and promotion | $17,671 |
| Office expenses | $24,792 |
| Information technology | $107,082 |
| Royalties | $0 |
| Occupancy | $328,945 |
| Travel | $11,739 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $112,238 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $414,551 |
| Insurance | $259,248 |
| All other expenses | $195,538 |
| Total functional expenses | $8,904,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,061,765 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $736,849 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,500 |
| Prepaid expenses and deferred charges | $17,861 |
| Net Land, buildings, and equipment | $7,942,915 |
| Investments—publicly traded securities | $1,415,170 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,206,060 |
| Accounts payable and accrued expenses | $277,295 |
| Grants payable | $0 |
| Deferred revenue | $125,275 |
| 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 | $2,763,072 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $219,633 |
| Total liabilities | $3,385,275 |
| Net assets without donor restrictions | $5,999,927 |
| Net assets with donor restrictions | $1,820,858 |
| 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 | $11,206,060 |