Rainbow Community School
- Assets
- $4.8m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 61
- Location
- Asheville, NC
- Founding
- 03/1979
- Data as of
- 06/2022
- EIN
- 56-1217861
Organization Overview
Rainbow Community School is located in Asheville, NC. The organization was established in 1979. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2022, Rainbow Community School employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Community School 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 06/2022, Rainbow Community School generated $3.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $2.9m during the year ending 06/2022. While expenses have increased by 4.9% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE DEVELOP ACCOMPLISHED, CONFIDENT AND CREATIVE LEARNERS WHO ARE PREPARED TO BE COMPASSIONATE LEADERS IN BUILDING A SOCIALLY JUST, SPIRITUALLY CONNECTED, AND ENVIRONMENTALLY SUSTAINABLE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A PRE-SCHOOL, ELEMENTARY SCHOOL, MIDDLE SCHOOL AND BEFORE/AFTER SCHOOL PROGRAM FOR APPROXIMATELY 218 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stewart Stokes Board Member | Trustee | 1 | $0 |
Dustin Mckeelan Vice Chairperson | OfficerTrustee | 1 | $0 |
Kali Dewine Chairperson | OfficerTrustee | 1 | $0 |
Pamela Goodrum Secretary | OfficerTrustee | 1 | $0 |
Jennifer Tracy Board Member | Trustee | 1 | $0 |
Susan Fahrer Executive Director - Non-V | Trustee | 40 | $74,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $194,760 |
| All other contributions, gifts, grants, and similar amounts not included above | $181,923 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $376,683 |
| Total Program Service Revenue | $2,709,907 |
| Investment income | $3,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,710 |
| Net Gain/Loss on Asset Sales | $3,340 |
| Net Income from Fundraising Events | $13,353 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,131,293 |
| 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. | $74,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,762,574 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $23,703 |
| Other employee benefits | $146,376 |
| Payroll taxes | $152,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,833 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,197 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,735 |
| Office expenses | $26,195 |
| Information technology | $50,872 |
| Royalties | $0 |
| Occupancy | $90,169 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,928 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,692 |
| Insurance | $26,708 |
| All other expenses | $85,761 |
| Total functional expenses | $2,868,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $599,707 |
| Savings and temporary cash investments | $1,135,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,296 |
| 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 | $2,833 |
| Net Land, buildings, and equipment | $2,865,269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,234 |
| Other assets | $123,008 |
| Total assets | $4,771,350 |
| Accounts payable and accrued expenses | $25,000 |
| Grants payable | $0 |
| Deferred revenue | $418,546 |
| 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 | $1,515,361 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,958,907 |
| Net assets without donor restrictions | $2,812,443 |
| 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 | $4,771,350 |