Civic Intelligence

Rainbow Soccer Ltd.

990 • Fiscal year 2020 • EIN 56-1030908

Jun 01, 2019 to May 31, 2020 • Filed on Aug 13, 2020

Organization Profilewww.rainbowsoccer.org
PO Box 3093Chapel Hill, NC 27515

(919) 967-8797

Siviq Scores

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

Liabilities / Assets

80th percentile

0.09x

Higher debt load relative to assets than 80% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Liabilities / Revenue

79th percentile

0.09x

Higher debt load relative to revenue than 79% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Net Margin

39th percentile

-7.5%

Higher net margin than 39% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

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

2020 filings • NTEE N • <$500k nonprofits • Source year 2020

Asset Growth

55th percentile

1.4%

Faster asset growth than 55% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

70th percentile

-11%

Faster revenue growth than 70% of similar nonprofits.

2020 filings • NTEE N • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$298,348

Up $4,094 (+1.4%) from 2019

Net Assets

Down

$270,094

Down $22,267 (-7.6%) from 2019

Liabilities

Up

$28,254

Up $26,361 (+1393%) from 2019

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin39th percentile

Revenue

Down

$298,022

Down $35,506 (-11%) from 2019

Expenses

Down

$320,289

Down $17,940 (-5.3%) from 2019

Net Income

Down

-$22,267

Down $17,566 (-374%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$600K$400K$200K$0Assets 2012: $295,352Liabilities 2012: $11,078Net Assets 2012: $284,2742012Assets 2013: $335,206Liabilities 2013: $7,363Net Assets 2013: $327,8432013Assets 2014: $333,640Liabilities 2014: $12,429Net Assets 2014: $321,2112014Assets 2015: $323,216Liabilities 2015: $23,258Net Assets 2015: $299,9582015Assets 2016: $302,272Liabilities 2016: $641Net Assets 2016: $301,6312016Assets 2017: $315,323Liabilities 2017: $12,971Net Assets 2017: $302,3522017Assets 2018: $297,062Liabilities 2018: $0Net Assets 2018: $297,0622018Assets 2019: $294,254Liabilities 2019: $1,893Net Assets 2019: $292,3612019Assets 2020: $298,348Liabilities 2020: $28,254Net Assets 2020: $270,0942020Assets 2021: $238,049Liabilities 2021: $28,696Net Assets 2021: $209,3532021Assets 2022: $286,923Liabilities 2022: $8,226Net Assets 2022: $278,6972022Assets 2023: $545,591Liabilities 2023: $10,067Net Assets 2023: $535,5242023Assets 2024: $566,883Liabilities 2024: $5,483Net Assets 2024: $561,4002024Assets 2025: $574,102Liabilities 2025: $15,755Net Assets 2025: $558,3472025

Highlighted filing

2020

Assets$298,348
Liabilities$28,254
Net Assets$270,094
Open 2020 Filing

Operations Trend

Revenue Growth70th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2012: $357,9272012Expenses 2013: $306,6402013Revenue 2014: $328,464Expenses 2014: $335,096Net Income 2014: -$6,6322014Revenue 2015: $317,683Expenses 2015: $338,936Net Income 2015: -$21,2532015Revenue 2016: $361,981Expenses 2016: $360,308Net Income 2016: $1,6732016Revenue 2017: $359,720Expenses 2017: $358,998Net Income 2017: $7222017Revenue 2018: $343,070Expenses 2018: $348,360Net Income 2018: -$5,2902018Revenue 2019: $333,528Expenses 2019: $338,229Net Income 2019: -$4,7012019Revenue 2020: $298,022Expenses 2020: $320,289Net Income 2020: -$22,2672020Revenue 2021: $185,038Expenses 2021: $245,779Net Income 2021: -$60,7412021Revenue 2022: $415,720Expenses 2022: $346,376Net Income 2022: $69,3442022Revenue 2023: $674,807Expenses 2023: $417,980Net Income 2023: $256,8272023Revenue 2024: $409,437Expenses 2024: $383,561Net Income 2024: $25,8762024Revenue 2025: $427,914Expenses 2025: $430,967Net Income 2025: -$3,0532025

Highlighted filing

2020

Revenue$298,022
Expenses$320,289
Net Income-$22,267
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Aug 13, 2020
Return Version
2019v5.1
Gross Receipts
$298,022
Mission and Program Overview

Mission

The exempt purpose is to offer soccer education and recreation to children regardless of age or skill level.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$80,831$146,019▲ $65,188
Land, Buildings, and Equipment, Net$59,111$49,285▼ $9,826
Cash and Non-Interest-Bearing Accounts$32,808$21,226▼ $11,582
Total Assets$294,254$298,348▲ $4,094
Other Assets Total$121,504$81,818▼ $39,686
Liabilities
Unsecured Notes Loans Payable-$26,100-
Accounts Payable and Accrued Expenses$1,893$2,154▲ $261
Total Liabilities$1,893$28,254▲ $26,361
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$292,361$270,094▼ $22,267
Total Net Assets Fund Balance$292,361$270,094▼ $22,267
Total Liabilities and Net Assets / Fund Balance$294,254$298,348▲ $4,094

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$49,285$395,680$444,965
Equipment-$2,817$2,817
Other Assets Org$50,000--
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Grant UnderhillBoard Member
Mike RoachBoard Member
Ted CalhounBoard Member
Wilma RiveraBoard Secretary
Catherine DuncanBoard Treasurer
Alex ArabBoard Vice Pres
Mike HickeyExecutive Director
John KepleyProgram Director
Karen AldridgeOffice Administrator
Revenue and Support

Revenue Composition

Contributions and Grants
$35,905
Program Service Revenue
$261,929
Investment Income
$188
Other Revenue
$0
All Other Contributions
$35,905
Change in Net Assets
$-22,267
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$181,118
Salaries, Compensation, and Employee Benefits$139,171
Total Fundraising Expense$362
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$78,630$13,143-$91,773
Current Officers, Directors, Trustees, and Key Employees$76,236$13,453-$89,689
Other Salaries and Wages$35,063--$35,063
Fees for Services Other$15,999--$15,999
Information Technology$10,109--$10,109
Depreciation Depletion$9,826--$9,826
Payroll Taxes$8,575$1,044-$9,619
Office Expenses-$5,056-$5,056
Other Employee Benefits$4,080$720-$4,800
Fees for Services Accounting-$3,313-$3,313
Advertising-$2,470$362$2,832
Other Expenses$2,825--$2,825
Insurance$880$970-$1,850
Conferences and Meetings-$772-$772
Total Functional Expenses$278,986$40,941$362$320,289
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
Federal income taxes-
Payroll Liabilities negative 5/31/18 so shown as an asset-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Organizations Process to Review Form 990 ---- The independent CPA firm prepares the Form 990. The executive director reviews the form. Upon his/her approval the Form 990 is e-filed with the IRS. A copy of the Form 990 is made available to all Board members.”

Form 990, Part VI, Section B, Line 12C

“Conflict of Interest Policy ----- Each year a conflict of interest agreement asking for a list of potential conflicts must be signed by each of the program directors and board members.”

Form 990, Part VI, Section B, Line 15

“Compensation ------ The board reviews what other soccer program directors are paid using information from the NC Youth Soccer Association.”

Form 990, Part VI, Section C, Line 19

“Governing Documents Disclosure Explanation ----Governing documents are available upon request at the organizations office.”

Filing and Contact Details

Filer

Filer Name
Rainbow Soccer LTD
EIN
56-1030908
Phone
9199678797
Address
PO Box 3093, Chapel Hill, NC 27515

Signing Officer

Name
Mike Hickey
Title
Executive Director
Signed
2020-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hickey
Formed
1973
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
5

Preparer

Firm
Lawson Travers CPA PLLC
Address
613 Aberdeen Dr, Chapel Hill, NC 27516
Preparer
Lawson Travers
Phone
9199602794
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0295530
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0283526
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0271388
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0279812
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01392185
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0165
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IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00060
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99950
IRS990ScheduleA/PublicSupportPY509Pct00.99940
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt02817
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02817
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt049285
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0395680
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt031818
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt150000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CH Parks Rec CREDIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Due from NC DOR overpayments
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Triangle United Church CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Payroll Liabilities negative 5/31/18 so shown as an asset
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt049285
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Organizations Process to Review Form 990 ---- The independent CPA firm prepares the Form 990. The executive director reviews the form. Upon his/her approval the Form 990 is e-filed with the IRS. A copy of the Form 990 is made available to all Board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of Interest Policy ----- Each year a conflict of interest agreement asking for a list of potential conflicts must be signed by each of the program directors and board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation ------ The board reviews what other soccer program directors are paid using information from the NC Youth Soccer Association.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing Documents Disclosure Explanation ----Governing documents are available upon request at the organizations office.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalProgramServiceExpensesAmt0278986
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0298348
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt026100
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03137 Jones Ferry Road
IRS990/USAddress/CityNm0Chapel Hill
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027516
IRS990/VotingMembersGoverningBodyCnt06
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IRS990/WebsiteAddressTxt0www.rainbowsoccer.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mike Hickey
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Rainbow Soccer LTD
ReturnHeader/Filer/BusinessNameControlTxt0RAIN
ReturnHeader/Filer/EIN0561030908
ReturnHeader/Filer/PhoneNum09199678797

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$298,348
Liabilities
$28,254
Net assets
$270,094
Revenue
$298,022
Expenses
$320,289
Net income
-$22,267
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.74$0.16$5.58$4.28$4.31$0.03
2024Detailed filing. Detailed filing data is available for this year.$5.67$0.05$5.61$4.09$3.84$0.26
2023Detailed filing. Detailed filing data is available for this year.$5.46$0.10$5.36$6.75$4.18$2.57
2022Detailed filing. Detailed filing data is available for this year.$2.87$0.08$2.79$4.16$3.46$0.69
2021Detailed filing. Detailed filing data is available for this year.$2.38$0.29$2.09$1.85$2.46$0.61
2020Detailed filing. Detailed filing data is available for this year.$2.98$0.28$2.70$2.98$3.20$0.22
2019Detailed filing. Detailed filing data is available for this year.$2.94$0.02$2.92$3.34$3.38$0.05
2018Detailed filing. Detailed filing data is available for this year.$2.97$0.00$2.97$3.43$3.48$0.05
2017Detailed filing. Detailed filing data is available for this year.$3.15$0.13$3.02$3.60$3.59$0.01
2016Detailed filing. Detailed filing data is available for this year.$3.02$0.01$3.02$3.62$3.60$0.02
2015Detailed filing. Detailed filing data is available for this year.$3.23$0.23$3.00$3.18$3.39$0.21
2014Detailed filing. Detailed filing data is available for this year.$3.34$0.12$3.21$3.28$3.35$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.35$0.07$3.28$3.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$0.11$2.84$3.58