Rainbow Community School
- Assets
- $4.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 64
- Location
- Asheville, NC
- Founding
- 03/1979
- Data as of
- 06/2021
- 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 06/2021, Rainbow Community School employed 64 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 06/2021, Rainbow Community School generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.5m during the year ending 06/2021. While expenses have increased by 1.2% per year over the past 6 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
2021
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 |
|---|---|---|---|
Susan Fahrer Executive Director - Non-V | Trustee | 40 | $74,475 |
Stewart Stokes Chairperson | OfficerTrustee | 1 | $0 |
Kali Dewine Vice Chairperson | OfficerTrustee | 1 | $0 |
Pamela Goodrum Secretary | OfficerTrustee | 1 | $0 |
Dustin Mckeelan Board Member | Trustee | 1 | $0 |
Jennifer Tracy Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,870 |
| All other contributions, gifts, grants, and similar amounts not included above | $609,247 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $679,117 |
| Total Program Service Revenue | $2,319,376 |
| Investment income | $3,024 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,600 |
| Net Gain/Loss on Asset Sales | $2,001 |
| Net Income from Fundraising Events | $7,266 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,035,384 |
| 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. | $74,475 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,550,219 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $23,221 |
| Other employee benefits | $150,020 |
| Payroll taxes | $136,227 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $594 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,161 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,826 |
| Office expenses | $26,380 |
| Information technology | $47,547 |
| Royalties | $0 |
| Occupancy | $73,940 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,325 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,299 |
| Insurance | $20,170 |
| All other expenses | $73,651 |
| Total functional expenses | $2,535,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $316,419 |
| Savings and temporary cash investments | $1,038,166 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,934 |
| 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 | $2,941,532 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,659 |
| Other assets | $156,242 |
| Total assets | $4,548,952 |
| Accounts payable and accrued expenses | $14,900 |
| Grants payable | $0 |
| Deferred revenue | $360,221 |
| 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 | $1,600,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,975,221 |
| Net assets without donor restrictions | $2,565,731 |
| Net assets with donor restrictions | $8,000 |
| 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 | $4,548,952 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Rainbow Community School has recieved totaling $54,303.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $21,690 |
Hyman Foundation Inc Atlanta, GA PURPOSE: EDUCATION | $20,900 |
Manna Food Bank Inc Asheville, NC PURPOSE: FOOD DISTRIBUTION | $7,531 |
Maurice A & Thelma P Rothman Family Foundation Inc Tampa, FL PURPOSE: SCHOOL PANTRY | $2,500 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $993 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $689 |
Endowment Analysis
| Beg. Balance | $110,286 |
| Earnings | $27,603 |
| Admin Expense | $1,161 |
| Ending Balance | $136,728 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Langley School Inc Mclean, VA | $63,128,940 | $18,629,240 |
Wake County Smartstart Raleigh, NC | $3,415,796 | $19,658,248 |
Livingston Byrdstown Jamestown And Cookeville Development Corporation Cookeville, TN | $2,043,241 | $13,554,742 |
Columbia Academy School Columbia, TN | $17,513,853 | $13,288,512 |
Montessori School Of Raleigh Inc Raleigh, NC | $11,662,431 | $8,380,387 |
Smart Start Of Forsyth County Winston Salem, NC | $369,779 | $8,124,286 |
Caldwell Academy Greensboro, NC | $20,742,733 | $8,088,099 |
The Augusta Preparatory Day School Martinez, GA | $25,344,401 | $14,944,838 |
High Meadows School Inc Roswell, GA | $15,794,704 | $8,144,978 |
Niswonger Foundation Greeneville, TN | $22,434,674 | $9,108,493 |
Richmond Montessori School Inc Richmond, VA | $10,937,942 | $7,480,859 |
Clarksville Academy Clarksville, TN | $6,723,954 | $6,391,160 |