Overview
What is Rainbow Of Hope Foundation Inc?
Rainbow of Hope Foundation Inc, based in Mount Hope, Ohio, is a compassionate nonprofit organization dedicated to alleviating financial burdens for underprivileged families. Their mission revolves around funding essential medical and hospital expenses for children, encompassing various conditions such as diseases, birth defects, and mental health care. Through their financial support, they aim to improve the overall health and well-being of disadvantaged children, making healthcare accessible for families in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, Overall Score: 67%)
The Rainbow Of Hope Foundation Inc has received a rating indicating the need for improvement, with an overall score of 67%. A strong point for the organization is its 100% independent board composition, along with a favorable liabilities to assets ratio of 0.00%, suggesting a solid financial standing. Additionally, the foundation allocates a significant portion of its budget towards program expenses, achieving an impressive 87.57% program expense ratio.
However, the organization faces critical shortcomings in transparency and governance. It lacks essential financial disclosures, as no financial statements are available, which resulted in a score of 0 out of 15 points in that category. Moreover, the absence of key policies such as conflict of interest and whistleblower policies raises concerns about accountability and ethical standards.
The foundation's website is not listed on its tax form, and it has failed to post its tax documents online, further detracting from its transparency efforts. While the board meeting minutes are documented, the missing policies and financial statements indicate areas for significant improvement to enhance trust and credibility with potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Rainbow Of Hope Foundation Inc legitimate?
Rainbow Of Hope Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rainbow Of Hope Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Rainbow Of Hope Foundation Inc?
The Rainbow of Hope Foundation Inc., as stated in its mission description, is committed to providing financial aid for medical-related expenses for underprivileged individuals. More specifically, the foundation focuses on covering the costs associated with diseases, birth defects, illnesses, and mental health care for qualified poor and needy parents' children. By providing this support, the Rainbow of Hope Foundation Inc. aims to alleviate the financial burden often associated with medical and hospital treatments, thereby ensuring that children can access the necessary care they require.
Who is the CEO of Rainbow Of Hope Foundation Inc?
Edward M Schlabach is the Trustee of Rainbow Of Hope Foundation Inc.
What is the revenue of Rainbow Of Hope Foundation Inc?
Rainbow Of Hope Foundation Inc's revenue in 2023 was $1,158,031.
Who are the executives of Rainbow Of Hope Foundation Inc and what are their salaries?
There 50 volunteers at Rainbow Of Hope Foundation Inc.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Rainbow Of Hope Foundation Inc?
Rainbow Of Hope Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Rainbow Of Hope Foundation Inc
Rainbow Of Hope Foundation Inc, a nonprofit organization, is dedicated to providing financial aid for medical-related expenses for underprivileged individuals. Specifically, the foundation focuses on covering the costs associated with children's medical treatments, including diseases, birth defects, and mental health care. By financially supporting qualified poor and needy parents, Rainbow Of Hope Foundation Inc plays a crucial role in ensuring that children receive the necessary medical care they require, without the added burden of financial strain.
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Impact
October, 2024
Rainbow Of Hope Foundation Inc significantly impacts the lives of underprivileged families by alleviating the financial burden associated with medical-related costs. By covering expenses for children facing diseases, birth defects, illnesses, and mental health care, the foundation ensures that qualified applicants—often from low-income backgrounds—receive essential medical treatment without the stress of overwhelming medical bills. This support not only addresses critical health needs but also fosters hope and stability within the community of Mt. Hope, OH, empowering families to focus on recovery and well-being. The foundation's commitment to providing financial assistance for healthcare creates a safety net for those in need, ultimately contributing to healthier futures for children and their families.
This information is meant to be a general summary of Rainbow Of Hope Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $19,823
- Gross Receipts: $1,158,031
Assets and Liabilities:
- Total Assets: $927,503
- Total Liabilities: $0
- Net Assets: $927,503
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Organization Details
Founding Year
1987
Phone
(330) 674-5062Principal Officer
Edward M Schlabach
Main Address
PO BOX 8, MT HOPE, OH, 44660
NTEE Category
Code: E83Z - Health
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