Overview
What is Rainbow Homes Non-Profit Housing Co?
Rainbow Homes Non-Profit Housing Co is a compassionate organization based in Holt, Michigan. Their primary mission is to provide a supportive living environment for adults facing various challenges. Residents receive assistance with daily necessities such as meals, medication, laundry, transportation, and housekeeping. Established as a non-profit, Rainbow Homes seeks to make a positive impact on the lives of those in need, fostering an atmosphere of care and support. With a dedicated team of 33 employees, they strive to create a nurturing and inclusive community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Stars
Rainbow Homes Non-Profit Housing Co has received a 52% rating from Charity Navigator, which reflects significant concerns regarding its accountability and financial practices. The organization has performed well in areas such as board independence and size, achieving full marks in those categories. However, it has faced severe deficiencies in financial statement transparency, conflict of interest policies, and other key metrics that evaluate proper governance.
Despite its strengths in board composition, the charity's lack of financial oversight and transparency is alarming, as evidenced by its failure to provide essential financial documents or post its tax forms on its website. This raises questions about the organization's commitment to maintaining accountability to its donors and stakeholders. Additionally, there are concerns regarding the management of its financial resources, as indicated by its low scores in key areas such as the liabilities to assets ratio.
Overall, while Rainbow Homes Non-Profit Housing Co is making efforts in its programmatic activities, the significant shortcomings in accountability and financial management may deter potential donors and supporters. The organization will need to address these issues to improve its standing and build trust within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Rainbow Homes Non-Profit Housing Co legitimate?
Rainbow Homes Non-Profit Housing Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rainbow Homes Non-Profit Housing Co 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:
Executive Compensation: $9,470
Professional Fundraising Fees: $0
Other Salaries and Wages: $434,234
For more financial information, click here
What is the mission statement of Rainbow Homes Non-Profit Housing Co?
Rainbow Homes Non-Profit Housing Co is established with a mission to provide a living space for adults who require assistance due to their disabilities. The organization offers aid with daily necessities such as meals, medication management, laundry, transportation, and housekeeping. The primary objective is to ensure these residents have a supportive environment to call home.
Who is the CEO of Rainbow Homes Non-Profit Housing Co?
Joseph Perrone is the Director of Rainbow Homes Non-Profit Housing Co.
What is the revenue of Rainbow Homes Non-Profit Housing Co?
Rainbow Homes Non-Profit Housing Co's revenue in 2022 was $563,374.
Who are the executives of Rainbow Homes Non-Profit Housing Co and what are their salaries?
The average compensation at Rainbow Homes Non-Profit Housing Co during 2022 was $13,446. There are 33 employees at Rainbow Homes Non-Profit Housing Co.
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Where can I find the form 990 for Rainbow Homes Non-Profit Housing Co?
Rainbow Homes Non-Profit Housing Co's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rainbow Homes Non-Profit Housing Co
Rainbow Homes Non-Profit Housing Co is a non-profit organization dedicated to providing a living space for adults who require assistance due to various handicaps. This organization's mission is to offer more than just a house; it aims to cater to the residents' needs for meals, medication, laundry, transportation, and housekeeping, among other essential services. By doing so, Rainbow Homes Non-Profit Housing Co aims to create an environment where individuals in need can reside comfortably, ensuring their well-being and quality of life.
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Impact
July, 2024
Rainbow Homes impact is significant as they provide housing and support for residents in Holt, MI who need help with meals, medication, laundry, transportation, housekeeping, and more. Their mission is to offer a residence where adults with disabilities can reside comfortably and receive the assistance they require. Through their human services-focused approach, Rainbow Homes plays a crucial role in enhancing the well-being and quality of life for individuals in need within the community.
This information is meant to be a general summary of Rainbow Homes Non-Profit Housing Co. 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 2022.
- Investment Income: $7
- Program Service Revenue: $431,720
- Gross Receipts: $563,374
Assets and Liabilities:
- Total Assets: $251,125
- Total Liabilities: $372,493
- Net Assets: -$121,368
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT &ADDITIONAL AIDE SUPPORT
Revenue
$387,638
AUCTION & GOLF
Revenue
$32,587
MISC INCOME
Revenue
$11,495
Organization Details
Founding Year
2000
Phone
(517) 699-8454Principal Officer
Joseph Perrone
Main Address
2111 ADELPHA AVE APT B, HOLT, MI, 488421117
NTEE Category
Code: P73 - Human services
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