Civic Intelligence

Rainbow Village Apts Inc

EIN 23-7240503 • 501(c)3 • Springfield, OR

Profile

A non-profit apartment complex run by the local presbyterian churches to provide low-income housing.

1250 Rainbow DriveSpringfield, OR 97477

rainbowvillageapartments.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

66th percentile

0.20x

Higher debt load relative to revenue than 66% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

74th percentile

21%

Higher net margin than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

69th percentile

12%

Faster asset growth than 69% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

56th percentile

10%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$2,187,960

Up $375,335 (+21%) from 2023

Liabilities

Up

$221,422

Up $144,391 (+187%) from 2023

Net Assets

Up

$1,966,538

Up $230,944 (+13%) from 2023

Operations
Liabilities / Revenue66th percentileNet Margin74th percentile

Revenue

Up

$1,088,600

Up $163,494 (+18%) from 2023

Expenses

Down

$857,656

Down $18,099 (-2.1%) from 2023

Net Income

Up

$230,944

Up $181,593 (+368%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth69th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $704,520Liabilities 2011: $237,944Net Assets 2011: $466,5762011Assets 2012: $702,281Liabilities 2012: $151,836Net Assets 2012: $550,4452012Assets 2013: $713,532Liabilities 2013: $69,771Net Assets 2013: $643,7612013Assets 2014: $796,495Liabilities 2014: $61,552Net Assets 2014: $734,9432014Assets 2015: $839,991Liabilities 2015: $63,569Net Assets 2015: $776,4222015Assets 2016: $971,226Liabilities 2016: $68,456Net Assets 2016: $902,7702016Assets 2017: $1,094,904Liabilities 2017: $102,550Net Assets 2017: $992,3542017Assets 2018: $1,031,401Liabilities 2018: $42,924Net Assets 2018: $988,4772018Assets 2019: $1,101,559Liabilities 2019: $60,664Net Assets 2019: $1,040,8952019Assets 2020: $1,338,389Liabilities 2020: $64,391Net Assets 2020: $1,273,9982020Assets 2021: $1,549,424Liabilities 2021: $50,448Net Assets 2021: $1,498,9762021Assets 2022: $1,744,489Liabilities 2022: $58,246Net Assets 2022: $1,686,2432022Assets 2023: $1,812,625Liabilities 2023: $77,031Net Assets 2023: $1,735,5942023Assets 2024: $2,187,960Liabilities 2024: $221,422Net Assets 2024: $1,966,5382024

Highlighted filing

2024

Assets$2,187,960
Liabilities$221,422
Net Assets$1,966,538
Open 2024 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $465,5722011Expenses 2012: $474,5452012Revenue 2013: $576,104Expenses 2013: $482,788Net Income 2013: $93,3162013Revenue 2014: $532,020Expenses 2014: $440,838Net Income 2014: $91,1822014Revenue 2015: $544,028Expenses 2015: $502,549Net Income 2015: $41,4792015Revenue 2016: $600,075Expenses 2016: $473,727Net Income 2016: $126,3482016Revenue 2017: $590,367Expenses 2017: $500,783Net Income 2017: $89,5842017Revenue 2018: $602,920Expenses 2018: $606,797Net Income 2018: -$3,8772018Revenue 2019: $718,556Expenses 2019: $666,932Net Income 2019: $51,6242019Revenue 2020: $867,722Expenses 2020: $634,619Net Income 2020: $233,1032020Revenue 2021: $896,909Expenses 2021: $671,931Net Income 2021: $224,9782021Revenue 2022: $897,465Expenses 2022: $710,198Net Income 2022: $187,2672022Revenue 2023: $925,106Expenses 2023: $875,755Net Income 2023: $49,3512023Revenue 2024: $1,088,600Expenses 2024: $857,656Net Income 2024: $230,9442024

Highlighted filing

2024

Revenue$1,088,600
Expenses$857,656
Net Income$230,944
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,187,960
Liabilities
$221,422
Net assets
$1,966,538
Revenue
$1,088,600
Expenses
$857,656
Net income
$230,944
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.19$0.22$1.97$1.09$0.86$0.23
2023Detailed filing. Detailed filing data is available for this year.$1.81$0.08$1.74$0.93$0.88$0.05
2022Detailed filing. Detailed filing data is available for this year.$1.74$0.06$1.69$0.90$0.71$0.19
2021Detailed filing. Detailed filing data is available for this year.$1.55$0.05$1.50$0.90$0.67$0.22
2020Detailed filing. Detailed filing data is available for this year.$1.34$0.06$1.27$0.87$0.63$0.23
2019Detailed filing. Detailed filing data is available for this year.$1.10$0.06$1.04$0.72$0.67$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.03$0.04$0.99$0.60$0.61$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.09$0.10$0.99$0.59$0.50$0.09
2016Detailed filing. Detailed filing data is available for this year.$0.97$0.07$0.90$0.60$0.47$0.13
2015Detailed filing. Detailed filing data is available for this year.$0.84$0.06$0.78$0.54$0.50$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.80$0.06$0.73$0.53$0.44$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.71$0.07$0.64$0.58$0.48$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.15$0.55$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.24$0.47$0.47
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 7, 2025
Return Version
2024v5.0
Gross Receipts
$1,088,600
Mission and Program Overview

Mission

A non-profit apartment complex run by the local presbyterian churches to provide low-income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,616,723$1,847,120▲ $230,397
Cash and Non-Interest-Bearing Accounts$110,179$276,549▲ $166,370
Accounts Receivable$32,567$10,616▼ $21,951
Prepaid Expenses and Deferred Charges$7,294$7,798▲ $504
Total Assets$1,812,625$2,187,960▲ $375,335
Other Assets Total$45,862$45,877▲ $15
Liabilities
Mortgage Notes Payable Secured by Investment Property-$149,374-
Other Liabilities$51,413$55,400▲ $3,987
Accounts Payable and Accrued Expenses$25,618$16,648▼ $8,970
Total Liabilities$77,031$221,422▲ $144,391
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,735,594$1,966,538▲ $230,944
Total Net Assets Fund Balance$1,735,594$1,966,538▲ $230,944
Total Liabilities and Net Assets / Fund Balance$1,812,625$2,187,960▲ $375,335

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,610,115$1,923,482$3,533,597
Other Land Buildings$137,056$266,768$403,824
Equipment$20,949$165,988$186,937
Land$79,000-$79,000
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Jerry KalinaPresident
Betty Jean BurnettDirector
Howard RulandDirector
JOHN O'BRIENDirector
Luke PuskedraDirector
Quentin HolmesSecretary/tr
Lu-nita HawkinsVice-pres.
Revenue and Support

Revenue Composition

Contributions and Grants
$493,056
Program Service Revenue
$595,544
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$230,944
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$857,656
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$397,716--$397,716
Depreciation Depletion$97,067--$97,067
Fees for Services Management$70,768--$70,768
All Other Expenses$13,107--$13,107
Office Expenses$12,580--$12,580
Interest$7,730--$7,730
Other Expenses$7,343--$7,343
Fees for Services Accounting$5,000--$5,000
Fees for Services Other$4,900--$4,900
Fees for Services Legal$2,157--$2,157
Advertising$320--$320
Total Functional Expenses$857,656$0$0$857,656
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Deposits - Held by Trust$45,877
Prepaid Rent$9,523
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the executive board.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and financial statements are available to the public by request form the organization. Financial information is also avaialable from the oregon department of justice.”

Filing and Contact Details

Filer

Filer Name
Rainbow Village Apts Inc
EIN
23-7240503
Phone
5412247374
Address
1250 RAINBOW DRIVE, SPRINGFIELD, OR 97477

Signing Officer

Name
Jerry Kalina
Title
President
Phone
5412247374
Signed
2025-08-07

Organization Details

Principal Officer
Jerry Kalina
Formed
1976
Legal Domicile
Or
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Iron Creek Tax & Consulting
Address
6650 SW REDWOOD LN STE 210, PORTLAND, OR 97224
Preparer
Laura S Baker
Phone
5034431040
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The corporation provides low income housing under section 236 of the national housing act. Operations are subject rules and regulations of hud. There are 80 units.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Federal and state taxes - the corporation is a non-profit tax-exempt corporation under irc 501(c)(3) for federal purposes, and as a non-profit tax-exempt corporation is not required to file a state corporate tax return. Management of the project has analyzed the tax positions taken by the project and has concluded that as of december 31, 2024 there are no uncertain positions taken or expected to be taken that would require disclosure in the financial statements. The project is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax period in progress. The project's management believes it is no longer subject to income tax examinations for years prior to december 31, 2021.”

Raw XML Appendix369 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0406015
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0437545
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0437111
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02169622
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0437545
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02169622
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IRS990ScheduleD/EquipmentGrp/BookValueAmt020949
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt19523
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS - HELD BY TRUST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FEDERAL AND STATE TAXES - THE CORPORATION IS A NON-PROFIT TAX-EXEMPT CORPORATION UNDER IRC 501(C)(3) FOR FEDERAL PURPOSES, AND AS A NON-PROFIT TAX-EXEMPT CORPORATION IS NOT REQUIRED TO FILE A STATE CORPORATE TAX RETURN. MANAGEMENT OF THE PROJECT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PROJECT AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024 THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PROJECT IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. THE PROJECT'S MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO DECEMBER 31, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt055400
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION PROVIDES LOW INCOME HOUSING UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. OPERATIONS ARE SUBJECT RULES AND REGULATIONS OF HUD. THERE ARE 80 UNITS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE EXECUTIVE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST FORM THE ORGANIZATION. FINANCIAL INFORMATION IS ALSO AVAIALABLE FROM THE OREGON DEPARTMENT OF JUSTICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0857656
IRS990/TotalGrossUBIAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02506 MOON MT DRIVE
IRS990/USAddress/CityNm0EUGENE
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd097403
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0RAINBOWVILLAGEAPARTMENTS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY KALINA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05412247374
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RAINBOW VILLAGE APTS INC
ReturnHeader/Filer/BusinessNameControlTxt0RAIN
ReturnHeader/Filer/EIN0237240503
ReturnHeader/Filer/PhoneNum05412247374
ReturnHeader/Filer/USAddress/AddressLine1Txt01250 RAINBOW DRIVE
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd097477
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0814693463
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0IRON CREEK TAX & CONSULTING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06650 SW REDWOOD LN STE 210
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PORTLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd097224
ReturnHeader/PreparerPersonGrp/PhoneNum05034431040
ReturnHeader/PreparerPersonGrp/PreparationDt02025-08-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA S BAKER
ReturnHeader/ReturnTs02025-08-18T20:32:35-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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