Rainbow Soccer Ltd
- Assets
- $566.9k
- Revenue
- $409.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Chapel Hill, NC
- Founding
- 02/1977
- Data as of
- 05/2024
- EIN
- 56-1030908
Organization Overview
Rainbow Soccer Ltd is located in Chapel Hill, NC. The organization was established in 1977. According to its NTEE Classification (N64) the organization is classified as: Soccer, under the broad grouping of Recreation & Sports and related organizations. As of 05/2024, Rainbow Soccer Ltd employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Soccer Ltd 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 05/2024, Rainbow Soccer Ltd generated $409.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $383.6k during the year ending 05/2024. While expenses have increased by 0.7% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE EXEMPT PURPOSE IS TO OFFER SOCCER EDUCATION AND RECREATION TO CHILDREN REGARDLESS OF AGE OR SKILL LEVEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAINBOW SOCCER IS A CO-EDUCATIONAL COMMUNITY SOCCER PROGRAM WITH EMPHASIS ON NON-COMPETITIVE TEAM PLAYING. OPEN TO ALL MEMBERS OF THE COMMUNITY REGARDLESS OF AGE OR SKILL LEVEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Hickey Executive Director | Trustee | 30 | $59,790 |
John Kepley Program Director | Trustee | 20 | $45,520 |
Ted Calhoun Board President | OfficerTrustee | 0.2 | $0 |
Wilma Rivera Board Vice President | OfficerTrustee | 0.2 | $0 |
Joel Lloyd Board Treasurer | OfficerTrustee | 0.2 | $0 |
Toland Barfield Board Secretary | OfficerTrustee | 0.2 | $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 | $30,399 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,399 |
| Total Program Service Revenue | $375,480 |
| Investment income | $3,558 |
| 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 | $409,437 |
| 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. | $94,694 |
| Compensation of current officers, directors, key employees. | $14,204 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,319 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,800 |
| Payroll taxes | $9,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $520 |
| Fees for services: Accounting | $3,241 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,539 |
| Advertising and promotion | $3,174 |
| Office expenses | $3,774 |
| Information technology | $11,242 |
| Royalties | $0 |
| Occupancy | $111,743 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,710 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,682 |
| Insurance | $3,893 |
| All other expenses | $0 |
| Total functional expenses | $383,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,933 |
| Savings and temporary cash investments | $163,628 |
| 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 | $345,322 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,000 |
| Total assets | $566,883 |
| Accounts payable and accrued expenses | $5,483 |
| 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 | $5,483 |
| Net assets without donor restrictions | $561,400 |
| 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 | $566,883 |