Reeces Rainbow Inc
- Assets
- $2.2m
- Revenue
- $395.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Combined Locks, WI
- Founding
- 06/2008
- Data as of
- 12/2023
- EIN
- 20-5466141
Organization Overview
Reeces Rainbow Inc, operating under the name Grant Foundation, is located in Combined Locks, WI. The organization was established in 2008. According to its NTEE Classification (P31) the organization is classified as: Adoption, under the broad grouping of Human Services and related organizations. As of 12/2023, Grant Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grant Foundation 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, Grant Foundation generated $395.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (17.5%) each year. All expenses for the organization totaled $445.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (17.1%) per year over the past 9 years. 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 ADOPTION GRANTS TO FAMILIES ADOPTING CHILDREN WITH DOWN SYNDROME AND OTHER SPECIAL NEEDS INTERNATIONALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WAITING CHILD GRANT FUND:OUR WAITING CHILD GRANT FUND(WHICH INCLUDES FUNDS RAIASED DURING OUR ANNUAL CHRISTMAS ANGEL TREE PROJECT),ACCEPTS DONATIONS FOR INDIVIDUAL ORPHANS WITH DOWN SYNDROME AND OTHER SPECIAL NEEDS LIVING IN FOREIGN ORPHANAGES.THESE FUNDS ARE HELD AS ADOPTION GRANTS FOR EACH CHILD AND ENCOURAGE POTENTIAL ADOPTIVE FAMILIES TO ADOPT THE CHILD,KNOWING THERE IS FUNDING AVAILABLE TO HELP WITH COSTS.IN ONLY 10 YEARS, THE WAITING CHILD GRANTS HAVE MADE IT POSSIBLE FOR OVER 1,500 ORPHANS WITH DOWN SYNDROME AND OTHER SPECIAL NEEDS TO FIND THEIR "FOREVER FAMILIES".THEY HAVE BEEN SAVED FROM LIFE AND DEATH IN A MENTAL INSTITUTION AND BROUGHT INTO LOVING AMERICAN AND CANADIAN FAMILIES. 90% OF EACH DONATION GOES TO THE CHILD AND 10% GOES TO OUR VOICE OF HOPE FUNDS TO HELP WITH OPERATIONAL COST.
FAMILY SPONSORSHIP GRANT FUND: OUR FSP PROGRAM MAKES IT POSSIBLE FOR FRIENDS AND FAMILY TO DONATE TOWARDS FAMILY'S ADOPTION OF A PARTICULAR CHILD. THIS GRANT SUPPLEMENTS THE CHILD'S ORIGINAL WAITING CHILD GRANT ONCE A FAMILY HAS MADE THE OFFICIAL COMMITMENT FOR THAT CHILD. 100% OF EACH DONATION GOES TO THIS FUND AND IS LEGALLY STILL MADE ON BEHALF OF THE CHILD. SHOULD A FAMILY HAVE TO BACK OUT OR NOT BE APPROVED, ANY FUNDS RECEIVED WOULD REMAIN WITH THE CHILD AS A GRANT FOR THE NEXT FAMILY. THIS IS A VERY POPULAR AND EFFECTIVE PROGRAM FOR ADOPTIVE FAMILIES. FUNDS ARE DISBURSED ONCE THE FAMILY HAS BEEN ISSUED A TRAVEL DATE FOR THEIR ADOPTION, AND ARE AVAILABLE TO COVER THE COST OF SUCH THINGS AS AIRFARE, AGENCY FEES, IN-COUNTRY ACCOMMODATIONS/FOOD, FACILITATION/TRANSLATION, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Zoromski Executive Di | OfficerTrustee | 40 | $52,466 |
Cameron Alkhazraji President | OfficerTrustee | 5 | $0 |
Carla Dobrovits Director | Trustee | 3 | $0 |
Jamie Lentz Trustee | Trustee | 5 | $0 |
Lisa Lundberg Director | Trustee | 3 | $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 | $352,612 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $352,612 |
| Total Program Service Revenue | $0 |
| Investment income | $43,139 |
| 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 | $395,751 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $272,805 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $52,467 |
| Compensation of current officers, directors, key employees. | $16,737 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,450 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,247 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,587 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,293 |
| Office expenses | $1,177 |
| Information technology | $7,638 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,694 |
| 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 | $2,651 |
| All other expenses | $252 |
| Total functional expenses | $445,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $791,007 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,428,590 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,219,597 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $39,965 |
| Net assets with donor restrictions | $2,179,632 |
| 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 | $2,219,597 |