Over The Rainbow Unit I
- Assets
- $41.7k
- Revenue
- $159.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Evanston, IL
- Founding
- 01/2016
- Data as of
- 12/2023
- EIN
- 47-4443135
Organization Overview
Over The Rainbow Unit I is located in Evanston, IL. The organization was established in 2016. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Over The Rainbow Unit I 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, Over The Rainbow Unit I generated $159.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $181.2k 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
THE MAIN PURPOSE OF OUR ORGANIZATION IS TO PROVIDE AND MAINTAIN BARRIER- FREE LIVING ENVIRONMENTS FOR LOW-INCOME, PHYSICALLY HANDICAPPED ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AND MAINTAIN HOUSING FOR LOW-INCOME, PHYSICALLY IMPAIRED ADULTS IN A WHEELCHAIR-ACCESSIBLE ENVIRONMENT. THE ORGANIZATION'S 8 UNIT RENTAL HOUSING FACILITY KNOW AS BELDEN APARTMENTS IS LOCATED IN CHICAGO, IL.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Huffman President | Officer | 2 | $0 |
Les Russo Vp/treasurer | Officer | 2 | $0 |
Katie Miglore Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $134,769 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $134,769 |
| Total Program Service Revenue | $25,090 |
| Investment income | $50 |
| 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 | $159,909 |
| 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 | $46,608 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,750 |
| Payroll taxes | $3,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $226 |
| Fees for services: Accounting | $8,733 |
| 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 | $10,502 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,843 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,971 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,361 |
| Insurance | $0 |
| All other expenses | $11,148 |
| Total functional expenses | $181,211 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $364 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,562 |
| 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 | $945 |
| Net Land, buildings, and equipment | $11,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,017 |
| Total assets | $41,733 |
| Accounts payable and accrued expenses | $330,651 |
| 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 | $283,019 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,378 |
| Total liabilities | $615,048 |
| Net assets without donor restrictions | -$573,315 |
| 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 | $41,733 |