Rainbow Labs Mentoring Inc
- Assets
- $259.9k
- Revenue
- $485.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Los Angeles, CA
- Founding
- Data as of
- 12/2023
- EIN
- 86-3680722
Organization Overview
Rainbow Labs Mentoring Inc is located in Los Angeles, CA. According to its NTEE Classification (O30) the organization is classified as: Adult & Child Matching Programs, under the broad grouping of Youth Development and related organizations. As of 12/2023, Rainbow Labs Mentoring Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Labs Mentoring 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 12/2023, Rainbow Labs Mentoring Inc generated $485.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 52.8% each year . All expenses for the organization totaled $363.7k during the year ending 12/2023. 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
RAINBOW LABS EMBOLDENS QUEER AND GENDER NONCONFORMING YOUTH TO DISCOVER, CURATE, AND EXPERIMENT WITH THE ELEMENTS OF A FULFILLED LIFE THROUGH COMMUNITY BUILDING AND THE LIVED EXPERIENCES OF MENTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPORTS LAB SPORTS LAB DELIVERS SPORTS CLINICS AND SPORTS TEAM PROGRAMMING FOR LGBTQ YOUTH.
STORYTELLING LAB STORYTELLING LAB IS AN 8-10 WEEK MENTORING PROGRAM FOR LGBTQ YOUTH WHERE THEY LEARN THE ART OF STORYTELLING WHILE EMBRACING ALL OF THEIR VARYING IDENTITIES.
ACCELERATOR LAB A 8 TO 10 WEEK MENTORING PROGRAM WHERE LGBTQ YOUTH TEAM UP TO PITCH THE NEXT BIG IDEA WHILE ALSO LEARNING ABOUT FUTURE CAREERS AND BEING PAIRED WITH LGBTQ PROFESSIONALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Daly Director | Trustee | 5 | $0 |
Victoria Flynn Treasurer | OfficerTrustee | 5 | $0 |
Jacob Toups Executive Director | OfficerTrustee | 40 | $0 |
Jose Diaz Director | Trustee | 5 | $0 |
Christian Green Director | Trustee | 5 | $0 |
Brittany Jones Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $113,640 |
| All other contributions, gifts, grants, and similar amounts not included above | $373,677 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $487,317 |
| Total Program Service Revenue | $0 |
| 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 | -$1,407 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $485,910 |
| 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 | $90,414 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,204 |
| Payroll taxes | $8,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $92,388 |
| Advertising and promotion | $0 |
| Office expenses | $18,368 |
| Information technology | $10,095 |
| Royalties | $0 |
| Occupancy | $2,620 |
| Travel | $27,264 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,562 |
| Interest | $1,681 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,973 |
| All other expenses | $6,875 |
| Total functional expenses | $363,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,038 |
| Savings and temporary cash investments | $0 |
| 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 | $3,563 |
| Prepaid expenses and deferred charges | $3,357 |
| Net Land, buildings, and equipment | $2,871 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23 |
| Total assets | $259,852 |
| Accounts payable and accrued expenses | $10,753 |
| 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 | $0 |
| Other liabilities | $17,221 |
| Total liabilities | $27,974 |
| Net assets without donor restrictions | $231,878 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $259,852 |