Rainbow Omega Inc
- Assets
- $11.9m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 261
- Location
- Eastaboga, AL
- Founding
- 01/1992
- Data as of
- 09/2021
- 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 09/2021, Rainbow Omega Inc employed 261 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 09/2021, Rainbow Omega Inc generated $8.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $7.3m during the year ending 09/2021. While expenses have increased by 2.5% per year over the past 6 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
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Stentson Carpenter Director. | OfficerTrustee | $82,043 | |
Tim Hodge CEO | Officer | 40 | $19,220 |
Matt Vega Director | Trustee | $18,000 | |
Dr Vance Moore Director & C | OfficerTrustee | $10,500 | |
Clay Blackwell Director | Trustee | $0 | |
Ronald Hubbard Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,596,961 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,163,740 |
| Noncash contributions included in lines 1a–1f | $16,050 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,760,701 |
| Total Program Service Revenue | $5,822,488 |
| Investment income | $189,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $59,352 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,832,059 |
| 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. | $129,763 |
| Compensation of current officers, directors, key employees. | $75,029 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,360,580 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $279,548 |
| Payroll taxes | $350,947 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $81,390 |
| Advertising and promotion | $14,888 |
| Office expenses | $152,892 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $185,892 |
| Travel | $21,652 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $166,866 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $459,137 |
| Insurance | $210,307 |
| All other expenses | $55,411 |
| Total functional expenses | $7,269,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,508,609 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $455,867 |
| 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 | $11,139 |
| Net Land, buildings, and equipment | $7,666,179 |
| Investments—publicly traded securities | $1,283,620 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,833 |
| Total assets | $11,930,247 |
| Accounts payable and accrued expenses | $200,663 |
| Grants payable | $0 |
| Deferred revenue | $196,075 |
| 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 | $3,042,263 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $80,326 |
| Total liabilities | $3,519,327 |
| Net assets without donor restrictions | $6,666,901 |
| Net assets with donor restrictions | $1,744,019 |
| 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 | $11,930,247 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rainbow Omega Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Jmt Foundation Trust Mobile, AL PURPOSE: TO PROVIDEASSISTANCE TO THOSEWITH DISABILITIES | $25,000 |
Endowment Analysis
| Beg. Balance | $1,057,958 |
| Earnings | $188,867 |
| Net Contributions | $36,795 |
| Ending Balance | $1,283,620 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ability Plus Inc Huntsville, AL | $7,298,940 | $15,981,400 |
Holston United Methodist Home For Children Inc Greeneville, TN | $27,641,839 | $16,110,226 |
Mur-Ci Homes Inc Antioch, TN | $9,901,370 | $14,568,313 |
Big Oak Ranch Inc Gadsden, AL | $68,210,031 | $23,919,818 |
Progress Inc Nashville, TN | $6,116,091 | $11,389,774 |
United Cerebral Palsy Of South Carolina Inc Atlanta, GA | $9,682,843 | $13,275,605 |
Broward House Inc Ft Lauderdale, FL | $28,611,661 | $9,463,244 |
The Baddour Center Inc Senatobia, MS | $27,615,572 | $10,888,728 |
Covenant House Florida Inc Fort Lauderdale, FL | $7,849,350 | $9,482,096 |
Rainbow Omega Inc Eastaboga, AL | $11,930,247 | $8,832,059 |
Baptist Homes Inc Canton, MS | $11,542,978 | $7,741,164 |
Duvall Homes Inc Glenwood, FL | $9,011,439 | $6,326,372 |