Overview
What is The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc?
The Rainbow Fund of the Rotary Club of St. Thomas II Inc. is a charitable foundation based in Charlotte Amalie, VI. It operates as a component of the Rotary Club of St. Thomas II, distributing funds to various community organizations, public schools, and offering scholarships to financially disadvantaged students. The organization's mission is to contribute to the betterment of the community by donating money to charitable entities, supporting educational institutions, and aiding deserving students in need of financial assistance.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Stars
The Rainbow Fund of the Rotary Club of St. Thomas II Inc has received a low rating of 53%, indicating significant concerns regarding its accountability and finance practices. The rating is based exclusively on the Accountability & Finance beacon, where the organization scored poorly in several areas, particularly in governance features such as the lack of independent board members and missing essential policies like those for conflict of interest and whistleblower protections.
Despite these governance issues, the organization has demonstrated a strong commitment to its programs, with an impressive program expense ratio of 87.86%, signaling that a large portion of its funding is directed towards its charitable activities. Additionally, the charity maintains a solid liabilities to assets ratio, which is favorable for its financial health. However, the absence of a website listed on tax forms and missing financial documents on its website raises concerns about transparency.
Overall, while The Rainbow Fund showcases a dedication to its mission through program spending, the lack of accountability measures and governance structures significantly limits its overall effectiveness and trustworthiness as a nonprofit organization. Potential donors may want to consider these factors carefully before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc legitimate?
The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Rainbow Fund Of The Rotary Club Of St Thomas Ii 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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What is the mission statement of The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc?
The Rainbow Fund of the Rotary Club of St. Thomas II Inc. serves as a foundation that donates funds to various charitable organizations, public schools, and offers scholarships to needy and deserving students. Its mission is to contribute to the betterment of the community by providing financial support to worthy causes and helping students in need of financial aid for their education. The fund distributes its proceeds to the Rotary Club of St. Thomas II for their contributions to various community charities, demonstrating their commitment to community service and support.
Who is the CEO of The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc?
Alphonso Laborde Jr is the President of The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc.
What is the revenue of The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc?
The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc's revenue in 2022 was -$3,011.
Who are the executives of The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc?
The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Rainbow Fund Of The Rotary Club Of St Thomas Ii Inc
The Rainbow Fund of the Rotary Club of St. Thomas II Inc. serves as a charitable foundation, contributing funds to a variety of organizations, public schools, and providing scholarships to deserving and needy students. This nonprofit organization's mission is to make a positive impact in its community by distributing financial aid to numerous charitable entities and supporting the educational aspirations of deserving students. The Rainbow Fund's contributions play a pivotal role in enhancing the lives of individuals and organizations in need, demonstrating its commitment to community development and education.
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Impact
October, 2024
The Rainbow Fund of the Rotary Club of St Thomas II Inc has made significant contributions to the community by distributing funds to various charitable organizations and public schools. In a recent initiative, $34,263 was allocated to support a range of community charities, underscoring their commitment to enhancing the lives of those in need. Additionally, the fund provides scholarships to deserving students, helping to ensure that financial barriers do not hinder access to education. The efforts of the Rainbow Fund not only foster educational opportunities but also strengthen the fabric of the Charlotte Amalie community through targeted philanthropic activities.
This information is meant to be a general summary of The Rainbow Fund Of The Rotary Club Of St Thomas Ii 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 2022.
- Investment Income: -$3,011
- Gross Receipts: $22,466
Assets and Liabilities:
- Total Assets: $400,695
- Total Liabilities: $52,283
- Net Assets: $348,412
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Organization Details
Founding Year
1982
Phone
(340) 690-1982Principal Officer
Alphonso Laborde Jr
Main Address
PO BOX 6555, CHARLOTTE AMALIE, VI, 00804
NTEE Category
Code: X99 - Religion related
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