Civic Intelligence

Rainbow Village Apts Inc.

990 • Fiscal year 2020 • EIN 23-7240503

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 16, 2021

Organization ProfileRAINBOWVILLAGEAPARTMENTS.COM
1250 Rainbow DriveSpringfield, OR 97477

(541) 344-6444

Siviq Scores

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

Liabilities / Assets

40th percentile

0.05x

Higher debt load relative to assets than 40% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

39th percentile

0.07x

Higher debt load relative to revenue than 39% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

79th percentile

27%

Higher net margin than 79% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

73rd percentile

21%

Faster asset growth than 73% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

75th percentile

21%

Faster revenue growth than 75% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,338,389

Up $236,830 (+21%) from 2019

Net Assets

Up

$1,273,998

Up $233,103 (+22%) from 2019

Liabilities

Up

$64,391

Up $3,727 (+6.1%) from 2019

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin79th percentile

Revenue

Up

$867,722

Up $149,166 (+21%) from 2019

Expenses

Down

$634,619

Down $32,313 (-4.8%) from 2019

Net Income

Up

$233,103

Up $181,479 (+352%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$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

2020

Assets$1,338,389
Liabilities$64,391
Net Assets$1,273,998
Open 2020 Filing

Operations Trend

Revenue Growth75th percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$867,722
Expenses$634,619
Net Income$233,103
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 16, 2021
Return Version
2020v4.0
Gross Receipts
$867,722
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$858,335$863,126▲ $4,791
Cash and Non-Interest-Bearing Accounts$190,586$401,245▲ $210,659
Accounts Receivable$12,749$31,865▲ $19,116
Prepaid Expenses and Deferred Charges$4,962$4,969▲ $7
Total Assets$1,101,559$1,338,389▲ $236,830
Other Assets Total$34,927$37,184▲ $2,257
Liabilities
Other Liabilities$44,295$48,477▲ $4,182
Accounts Payable and Accrued Expenses$16,369$15,914▼ $455
Total Liabilities$60,664$64,391▲ $3,727
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,040,895$1,273,998▲ $233,103
Total Net Assets Fund Balance$1,040,895$1,273,998▲ $233,103
Total Liabilities and Net Assets / Fund Balance$1,101,559$1,338,389▲ $236,830

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$771,941$1,915,846$2,687,787
Equipment$12,185$132,110$144,295
Land$79,000-$79,000
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Jerry KalinaPresident
Betty Jean BurnettDirector
Drew EmmettDirector
Howard RulandDirector
Nancy HollomanDirector
Valjean TurkDirector
Quentin HolmesSecretary/tr
Lu-nita HawkinsVice-pres.
Revenue and Support

Revenue Composition

Contributions and Grants
$437,111
Program Service Revenue
$430,611
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$233,103
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$634,619
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$107,834--$107,834
Depreciation Depletion$68,922--$68,922
Fees for Services Management$56,011--$56,011
Other Expenses$14,418--$14,418
All Other Expenses$13,306--$13,306
Office Expenses$9,865--$9,865
Fees for Services Legal$8,880--$8,880
Fees for Services Accounting$4,300--$4,300
Fees for Services Other$3,875--$3,875
Advertising$99--$99
Total Functional Expenses$634,619$0$0$634,619
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 Deposit Liability$37,184
Prepaid Rent$11,293
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
5413446444
Address
1250 RAINBOW DRIVE, SPRINGFIELD, OR 97477

Signing Officer

Name
Jerry Kalina
Title
President
Phone
5413446444
Signed
2021-09-16

Organization Details

Principal Officer
Jerry Kalina
Formed
1976
Legal Domicile
Or
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
BJORKLUND & MONTPLAISIR CPA'S
Address
10300 SW GREENBURG ROAD STE 470, PORTLAND, OR 97223
Preparer
Steven R Bjorklund
Phone
5036436400
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, 2020 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, 2017.”

Raw XML Appendix374 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/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0276144
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0209174
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0218733
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0187720
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01328882
IRS990ScheduleA/TotalSupportAmt01329001
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01915846
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02687787
IRS990ScheduleD/EquipmentGrp/BookValueAmt012185
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0132110
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0144295
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt079000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt079000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt037184
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt111293
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSIT LIABILITY
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, 2020 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, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0863126
IRS990ScheduleD/TotalLiabilityAmt048477
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01338389
IRS990/TotalAssetsGrp/BOYAmt01101559
IRS990/TotalAssetsGrp/EOYAmt01338389
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IRS990/TotalContributionsAmt0437111
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0634619
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt060664
IRS990/TotalLiabilitiesEOYAmt064391
IRS990/TotalLiabilitiesGrp/BOYAmt060664
IRS990/TotalLiabilitiesGrp/EOYAmt064391
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IRS990/TotalProgramServiceExpensesAmt0634619
IRS990/TotalProgramServiceRevenueAmt0430611
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0430611
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0867722
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01101559
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01338389
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02506 MOON MT DRIVE
IRS990/USAddress/CityNm0EUGENE
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd097403
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY KALINA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05413446444
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RAINBOW VILLAGE APTS INC
ReturnHeader/Filer/BusinessNameControlTxt0RAIN
ReturnHeader/Filer/EIN0237240503
ReturnHeader/Filer/PhoneNum05413446444
ReturnHeader/Filer/USAddress/AddressLine1Txt01250 RAINBOW DRIVE
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd097477
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0931015766
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BJORKLUND & MONTPLAISIR CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010300 SW GREENBURG ROAD STE 470
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PORTLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd097223
ReturnHeader/PreparerPersonGrp/PhoneNum05036436400
ReturnHeader/PreparerPersonGrp/PreparationDt02021-09-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN R BJORKLUND
ReturnHeader/ReturnTs02021-09-22T16:02:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JERRY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KALINA
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,338,389
Liabilities
$64,391
Net assets
$1,273,998
Revenue
$867,722
Expenses
$634,619
Net income
$233,103
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