Rainbow Omega Inc

Organization Overview

Rainbow Omega Inc is located in Eastaboga, AL. The organization was established in 1992. According to its NTEE Classification (P73) the organization is classified as: Group Homes, under the broad grouping of Human Services and related organizations. As of 09/2021, Rainbow Omega Inc employed 261 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Omega Inc 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 09/2021, Rainbow Omega Inc generated $8.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $7.3m during the year ending 09/2021. While expenses have increased by 2.5% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE GROUP HOMES FOR DEVELOPMENTALLY DISABLED ADULTS IN A CARING AND NURTURING ENVIRONMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED DAYHAB SERVICES, VOCATIONAL TRAINING AND RESPITE CARE SERVICES FOR RESIDENTS AND OTHERS.


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Board, Officers & Key Employees

Name (title)Compensation
M Stentson Carpenter
Director.
$82,043
Tim Hodge
CEO
$19,220
Matt Vega
Director
$18,000
Dr Vance Moore
Director & C
$10,500
Clay Blackwell
Director
$0
Remelle Orman Davis
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,596,961
All other contributions, gifts, grants, and similar amounts not included above$1,163,740
Noncash contributions included in lines 1a–1f $16,050
Total Revenue from Contributions, Gifts, Grants & Similar$2,760,701
Total Program Service Revenue$5,822,488
Investment income $189,518
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $59,352
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,832,059

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Rainbow Omega Inc has recieved totaling $25,000.

Awarding OrganizationAmount
Jmt Foundation Trust

Mobile, AL

PURPOSE: TO PROVIDEASSISTANCE TO THOSEWITH DISABILITIES

$25,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,057,958
Earnings$188,867
Net Contributions$36,795
Ending Balance$1,283,620

Peer Organizations

Organization NameAssets
Ability Plus Inc
Huntsville, AL
$15,981,400
Holston United Methodist Home For Children Inc
Greeneville, TN
$16,110,226
Mur-Ci Homes Inc
Antioch, TN
$14,568,313
Big Oak Ranch Inc
Gadsden, AL
$23,919,818
Progress Inc
Nashville, TN
$11,389,774
United Cerebral Palsy Of South Carolina Inc
Atlanta, GA
$13,275,605
Broward House Inc
Ft Lauderdale, FL
$9,463,244
The Baddour Center Inc
Senatobia, MS
$10,888,728
Covenant House Florida Inc
Fort Lauderdale, FL
$9,482,096
Rainbow Omega Inc
Eastaboga, AL
$8,832,059
Baptist Homes Inc
Canton, MS
$7,741,164
Duvall Homes Inc
Glenwood, FL
$6,326,372

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