Overview
What is Rainbow Daycare Center Inc?
Rainbow Daycare Center Inc is a nonprofit organization situated in Yanceyville, North Carolina. With a postal address at PO Box 82, they offer affordable childcare services to the local community and its surrounding areas. Currently, they have 13 employees on board, and during the COVID-19 pandemic, they reopened their PreK program, enrolling 12 students. In light of the parents' unemployment, the center waived the associated fees as a gesture of support. The primary mission of Rainbow Daycare Center Inc is to ensure that quality and affordable childcare is accessible to families in need.
Official website here: www.rainboweducationalchildcare.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (69% - Two-Star out of Four Star Rating)
Rainbow Daycare Center Inc has received a Two-Star rating, indicating that the organization has significant room for improvement in its accountability and financial practices. The overall score of 69% reflects strengths in program expenditure, with an impressive program expense ratio of 90.15%. This suggests that a majority of their funding is directed towards their day-to-day programs, which is a positive aspect of their operations.
However, the organization faces notable challenges, particularly in governance and transparency. The evaluation revealed that there are no independent board members, which raises concerns about oversight. Additionally, critical policies such as conflict of interest, whistleblower, and document retention are missing, contributing to their low accountability score. These deficiencies highlight the need for improved governance structures to enhance trust and operational integrity.
Despite these limitations, Rainbow Daycare Center Inc has demonstrated solid financial health with no material diversion of assets and a favorable liabilities to assets ratio of 0.00%. Addressing the highlighted governance issues could significantly improve their rating and overall effectiveness in serving their community.
This AI summary has been generated from information found on Charity Navigator.
Is Rainbow Daycare Center Inc legitimate?
Rainbow Daycare Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rainbow Daycare Center 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:
Executive Compensation: $59,240
Professional Fundraising Fees: $0
Other Salaries and Wages: $213,461
For more financial information, click here
Official website here: www.rainboweducationalchildcare.com
What is the mission statement of Rainbow Daycare Center Inc?
Rainbow Daycare Center Inc's mission is centered around providing affordable child care services to the local community and its surrounding areas. This mission is reflected in their activities, as they have reopened their PreK program and enrolled 12 students, with the fees being waived for parents who are currently unemployed due to the COVID-19 pandemic. The daycare center aims to make quality child care services accessible to families who may be financially impacted during this challenging time.
Official website here: www.rainboweducationalchildcare.com
Who is the CEO of Rainbow Daycare Center Inc?
Unavailable
Official website here: www.rainboweducationalchildcare.com
What is the revenue of Rainbow Daycare Center Inc?
Rainbow Daycare Center Inc's revenue in 2023 was $578,141.
Official website here: www.rainboweducationalchildcare.com
Who are the executives of Rainbow Daycare Center Inc and what are their salaries?
The average compensation at Rainbow Daycare Center Inc during 2023 was $20,977. There are 13 employees at Rainbow Daycare Center Inc.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.rainboweducationalchildcare.com
Where can I find the form 990 for Rainbow Daycare Center Inc?
Rainbow Daycare Center Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.rainboweducationalchildcare.com
Learn more at the official website: www.rainboweducationalchildcare.com
Mission Statement of Rainbow Daycare Center Inc
Rainbow Daycare Center Inc, as stated in its mission, is committed to providing affordable child care services to the residents of its immediate county and the surrounding areas. This mission is evident in its reopening of the PreK program and the enrollment of 12 students, with the fees being waived for the parents due to their unemployment caused by the COVID-19 pandemic. By offering affordable child care services, Rainbow Daycare Center Inc aims to support families in need, ensuring that their children receive quality care during this challenging time. The center's mission thus reflects its dedication to the community, striving to make a positive impact on the lives of children and their families.
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Impact
July, 2024
Rainbow Daycare Center Inc's impact is felt deeply in YANCEYVILLE, NC and its surrounding areas. By reopening its PreK program and enrolling 12 students, the center is not only providing essential child care services but is also supporting families who are facing hardships, such as unemployment due to COVID-19. The decision to waive parent fees demonstrates a commitment to ensuring that all children have access to quality care and education, regardless of their families' financial situations. Through its mission to provide affordable child care services, Rainbow Daycare Center Inc is making a tangible difference in the lives of families in the community, embodying the value of human services.
This information is meant to be a general summary of Rainbow Daycare Center 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: $57
- Program Service Revenue: $578,084
- Gross Receipts: $578,141
Assets and Liabilities:
- Total Assets: $445,355
- Total Liabilities: $0
- Net Assets: $445,355
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition
Revenue
$516,303
Grants
Revenue
$61,781
Organization Details
Founding Year
1984
Main Address
PO Box 82, Yanceyville, NC, 27379
NTEE Category
Code: P33Z - Human services
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