Civic Intelligence

Rainbow Chimes Inc

990 • Fiscal year 2015 • EIN 11-2694198

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 13, 2016

320 Broadway Greenlawn RdHuntington, NY 11743

(631) 427-6300

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.89x

Higher debt load relative to assets than 89% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

74th percentile

0.41x

Higher debt load relative to revenue than 74% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

20th percentile

-11%

Higher net margin than 20% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

74th percentile

$111,583

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

2nd percentile

-38%

Faster asset growth than 2% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

22nd percentile

-10%

Faster revenue growth than 22% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$766,487

Down $462,715 (-38%) from 2014

Net Assets

Down

$87,619

Down $582,958 (-87%) from 2014

Liabilities

Up

$678,868

Up $120,243 (+22%) from 2014

Revenue

Down

$1,666,058

Down $195,453 (-10%) from 2014

Expenses

Down

$1,851,767

Down $50,078 (-2.6%) from 2014

Net Income

Down

-$185,709

Down $145,375 (-360%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2010: $422,942Liabilities 2010: $388,828Net Assets 2010: $34,1142010Assets 2011: $327,376Liabilities 2011: $446,950Net Assets 2011: -$119,5742011Assets 2012: $887,873Liabilities 2012: $436,653Net Assets 2012: $451,2202012Assets 2013: $419,274Liabilities 2013: $488,363Net Assets 2013: -$69,0892013Assets 2014: $1,229,202Liabilities 2014: $558,625Net Assets 2014: $670,5772014Assets 2015: $766,487Liabilities 2015: $678,868Net Assets 2015: $87,6192015Assets 2016: $415,244Liabilities 2016: $734,257Net Assets 2016: -$319,0132016Assets 2017: $1,013,518Liabilities 2017: $726,952Net Assets 2017: $286,5662017Assets 2018: $616,163Liabilities 2018: $826,682Net Assets 2018: -$210,5192018Assets 2019: $57,745Liabilities 2019: $619,333Net Assets 2019: -$561,5882019Assets 2020: $0Liabilities 2020: $566,024Net Assets 2020: -$566,0242020

Highlighted filing

2015

Assets$766,487
Liabilities$678,868
Net Assets$87,619

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2010: $1,975,1042010Expenses 2011: $1,956,7392011Expenses 2012: $1,836,3662012Revenue 2013: $1,701,855Expenses 2013: $1,839,664Net Income 2013: -$137,8092013Revenue 2014: $1,861,511Expenses 2014: $1,901,845Net Income 2014: -$40,3342014Revenue 2015: $1,666,058Expenses 2015: $1,851,767Net Income 2015: -$185,7092015Revenue 2016: $1,398,581Expenses 2016: $1,507,447Net Income 2016: -$108,8662016Revenue 2017: $1,421,184Expenses 2017: $1,445,002Net Income 2017: -$23,8182017Revenue 2018: $1,092,016Expenses 2018: $1,261,939Net Income 2018: -$169,9232018Revenue 2019: $922,035Expenses 2019: $896,896Net Income 2019: $25,1392019Revenue 2020: $3,615Expenses 2020: $8,050Net Income 2020: -$4,4352020

Highlighted filing

2015

Revenue$1,666,058
Expenses$1,851,767
Net Income-$185,709
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 13, 2016
Return Version
2015v2.1
Gross Receipts
$1,666,058
Mission and Program Overview

Mission

To provide children with early

To provide children with early educational skills and the ability to develop into positive and productive adult leaders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$975,000$577,750▼ $397,250
Loans From Officers Directors$68,342$142,417▲ $74,075
Accounts Receivable$143,704$127,361▼ $16,343
Land, Buildings, and Equipment, Net$80,175$59,846▼ $20,329
Prepaid Expenses and Deferred Charges$11,487$11,970▲ $483
Cash and Non-Interest-Bearing Accounts$18,836$-10,440▼ $29,276
Total Assets$1,229,202$766,487▼ $462,715
Liabilities
Accounts Payable and Accrued Expenses$282,262$356,410▲ $74,148
Deferred Revenue$94,706$86,100▼ $8,606
Unsecured Notes Loans Payable$92,469$81,767▼ $10,702
Mortgage Notes Payable Secured by Investment Property$20,846$12,174▼ $8,672
Total Liabilities$558,625$678,868▲ $120,243
Net Assets / Fund Balance
Temporarily Rstr Net Assets$975,000$577,750▼ $397,250
Unrestricted Net Assets$-304,423$-490,131▼ $185,708
Total Net Assets Fund Balance$670,577$87,619▼ $582,958
Total Liabilities and Net Assets / Fund Balance$1,229,202$766,487▼ $462,715

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$58,971$304,831$363,802
Other Land Buildings$875$203,409$204,284
Leasehold Improvements-$21,262$21,262
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kathleen RocheExecutive DirectorFT$111,583$111,583

Board Members and Trustees

NameTitle
Grace BoccuzzoPresident
Joseph BoccuzzoVice President
Michael B RocheMember At Large
Michael J RocheMember At Large
Joan DrosinSecretary
Larry DrosinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$38,070
Program Service Revenue
$1,627,988
Investment Income
$0
Other Revenue
$0
All Other Contributions
$38,070
Change in Net Assets
$-185,709
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,241,888
Other Expenses$609,879
Total Fundraising Expense$37,656
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$968,209$125,091$19,550$1,112,850
Occupancy$193,094$29,903$0$222,997
Payroll Taxes$80,644$9,274$1,457$91,375
Advertising$46,083$0$684$46,767
Insurance$39,200$6,071$0$45,271
Fees for Services Accounting$0$40,365$0$40,365
Other Employee Benefits$27,302$10,071$290$37,663
Information Technology$14,199$19,338$0$33,537
All Other Expenses$8,779$2,647$15,675$27,101
Interest$1,028$25,491$0$26,519
Depreciation Depletion$18,508$6,027$0$24,535
Other Expenses$20,890$2,731$0$23,621
Office Expenses$1,373$11,410$0$12,783
Travel$1,933$786$0$2,719
Fees for Services Other$188$0$0$188
Total Functional Expenses$1,523,284$290,827$37,656$1,851,767
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Deanna BoccuzzoRelative BdW-2 CompensationNo$24,659

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$68,342$142,417▲ $74,075
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Rainbow Chimes Inc
EIN
11-2694198
Phone
6314276300
Address
320 Broadway Greenlawn Rd, Huntington, NY 11743

Signing Officer

Name
Kathleen Roche
Title
Executive Director
Phone
6314276300
Signed
2016-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Roche
Formed
1983
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
4
Employees
80
Volunteers
0

Preparer

Firm
The Ledger Group
Address
248 ROUTE 25A Suite 7, SETAUKET, NY 11733-2954
Preparer
Leigh J Gifford
Phone
6312465292
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

Kathleen Roche, Michael B. Roche and Michael J. Roche have a family relationship. Joseph and Grace Boccuzzo have a family relationship. Larry and Joan Drosin have a family relationship.

Pt VI, Line 11B

The Form 990 is prepared by an independent CPA firm. It is reviewed by the Executive Director and Board members.

Pt VI, Line 12C

The organization requires its board members to conduct business according to the highest ethical standards of conduct. Business dealings that appear to create a conflict between the best interests of Rainbow Chimes, Inc. and any individual board members are dealt with immediately. Board members must disclose any possible conflicts to the executive committee of the board so that the committee may assess and prevent potential conflicts from arising. If conflicts of interest are deemed to exist, board members with such potential or actual conflict are barred from participating in deliberations and/or voting with regard to the affected transaction(s).

Pt VI, Line 19

The governing documents, conflict of interest policy and financial statements are made available to the public upon request.

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2200503
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt056131
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0599687
IRS990/PYProgramServiceRevenueAmt01805380
IRS990/PYRevenuesLessExpensesAmt0-40334
IRS990/PYSalariesCompEmpBnftPaidAmt01302158
IRS990/PYTotalExpensesAmt01901845
IRS990/PYTotalRevenueAmt01861511
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-185709
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01627988
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt058971
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0304831
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0363802
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt021262
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt021262
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0875
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0203409
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0204284
IRS990ScheduleD/TotalBookValueLandBuildingsAmt059846
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ANNUALLY PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY IN NEWSPAPERS OF GENERAL CIRCULATION THAT SERVE ALL RACIAL SEGMENTS OF THE COMMUNITY. THE ORGANIZATION ANNUALLY PBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY IN NEWSPAPERS OF GENERAL CIRCULATION THAT SERVE ALL RACIAL SEGMENTS OF THE COMMUNITY
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RECEIVE FUNDS FROM SUFFOLK COUNTY DSS AND CACFP
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0DEANNA BOCCUZZO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Relative Bd
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt024659
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0W-2 Compensation
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt02417
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt190000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt250000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt041275
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt250000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0KATHLEEN ROCHE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1KATHLEEN ROCHE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2MICHAEL J ROCHE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Exec Dir
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Exec Dir
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2Member
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/TotalBalanceDueAmt0142417
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kathleen Roche, Michael B. Roche and Michael J. Roche have a family relationship. Joseph and Grace Boccuzzo have a family relationship. Larry and Joan Drosin have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is prepared by an independent CPA firm. It is reviewed by the Executive Director and Board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization requires its board members to conduct business according to the highest ethical standards of conduct. Business dealings that appear to create a conflict between the best interests of Rainbow Chimes, Inc. and any individual board members are dealt with immediately. Board members must disclose any possible conflicts to the executive committee of the board so that the committee may assess and prevent potential conflicts from arising. If conflicts of interest are deemed to exist, board members with such potential or actual conflict are barred from participating in deliberations and/or voting with regard to the affected transaction(s).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing documents, conflict of interest policy and financial statements are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0975000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0577750
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01229202
IRS990/TotalAssetsEOYAmt0766487
IRS990/TotalAssetsGrp/BOYAmt01229202
IRS990/TotalAssetsGrp/EOYAmt0766487
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt038070
IRS990/TotalEmployeeCnt080
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt037656
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0290827
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01523284
IRS990/TotalFunctionalExpensesGrp/TotalAmt01851767
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0558625
IRS990/TotalLiabilitiesEOYAmt0678868
IRS990/TotalLiabilitiesGrp/BOYAmt0558625
IRS990/TotalLiabilitiesGrp/EOYAmt0678868
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0670577
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt087619
IRS990/TotalProgramServiceExpensesAmt01523284
IRS990/TotalProgramServiceRevenueAmt01627988
IRS990/TotalReportableCompFromOrgAmt0111583
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01627988
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01666058
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01229202
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0766487
IRS990/TransactionWithControlEntInd0false

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