Civic Intelligence

Rainbow Soccer Ltd.

990 • Fiscal year 2021 • EIN 56-1030908

Jun 01, 2020 to May 31, 2021 • Filed on Dec 02, 2021

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

82nd percentile

0.12x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • NTEE N • <$500k nonprofits • Source year 2021

Liabilities / Revenue

84th percentile

0.16x

Higher debt load relative to revenue than 84% of similar nonprofits.

2021 filings • NTEE N • <$500k nonprofits • Source year 2021

Net Margin

10th percentile

-33%

Higher net margin than 10% of similar nonprofits.

2021 filings • NTEE N • <$500k nonprofits • Source year 2021

Top Officer Pay

97th percentile

$47,741

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 25.8% of source-year revenue.

2021 filings • NTEE N • <$500k nonprofits • Source year 2021

Asset Growth

16th percentile

-20%

Faster asset growth than 16% of similar nonprofits.

2021 filings • NTEE N • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

16th percentile

-38%

Faster revenue growth than 16% of similar nonprofits.

2021 filings • NTEE N • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$238,049

Down $60,299 (-20%) from 2020

Net Assets

Down

$209,353

Down $60,741 (-22%) from 2020

Liabilities

Up

$28,696

Up $442 (+1.6%) from 2020

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin10th percentile

Revenue

Down

$185,038

Down $112,984 (-38%) from 2020

Expenses

Down

$245,779

Down $74,510 (-23%) from 2020

Net Income

Down

-$60,741

Down $38,474 (-173%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2021

Assets$238,049
Liabilities$28,696
Net Assets$209,353
Open 2021 Filing

Operations Trend

Revenue Growth16th 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

2021

Revenue$185,038
Expenses$245,779
Net Income-$60,741
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Dec 2, 2021
Return Version
2020v4.1
Gross Receipts
$185,038
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$146,019$126,097▼ $19,922
Land, Buildings, and Equipment, Net$49,285$40,762▼ $8,523
Cash and Non-Interest-Bearing Accounts$21,226$4,502▼ $16,724
Total Assets$298,348$238,049▼ $60,299
Other Assets Total$81,818$66,688▼ $15,130
Liabilities
Unsecured Notes Loans Payable$26,100$24,900▼ $1,200
Accounts Payable and Accrued Expenses$2,154$2,141▼ $13
Deferred Revenue-$1,655-
Total Liabilities$28,254$28,696▲ $442
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$270,094$209,353▼ $60,741
Total Net Assets Fund Balance$270,094$209,353▼ $60,741
Total Liabilities and Net Assets / Fund Balance$298,348$238,049▼ $60,299

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$40,762$404,203$444,965
Equipment-$2,817$2,817
Other Assets Org$50,000--
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mike HickeyExecutive DirectorPT$47,741$47,741
John KepleyProgram DirectorPT$35,083$35,083

Board Members and Trustees

NameTitle
Ted CalhounBoard President
Catherine DuncanBoard Member
Grant UnderhillBoard Member
Joel LloydBoard Member
Toland BarfieldBoard Member
Wilma RiveraBoard Member
Alex ArabBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$38,305
Program Service Revenue
$146,655
Investment Income
$78
Other Revenue
$0
All Other Contributions
$12,205
Change in Net Assets
$-60,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$131,237
Salaries, Compensation, and Employee Benefits$114,542
Total Fundraising Expense$263
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$69,436$12,253-$81,689
Occupancy$60,172$12,964-$73,136
Other Salaries and Wages$19,756--$19,756
Fees for Services Other$12,797--$12,797
Depreciation Depletion$8,523--$8,523
Payroll Taxes$7,296$1,001-$8,297
Insurance$5,688$1,032-$6,720
Office Expenses-$6,167-$6,167
Information Technology$5,539--$5,539
Other Employee Benefits$4,080$720-$4,800
Advertising-$2,340$263$2,603
Fees for Services Accounting-$2,517-$2,517
Conferences and Meetings-$1,215-$1,215
Other Expenses$750$39-$750
Total Functional Expenses$205,268$40,248$263$245,779
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-
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
2021-12-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hickey
Formed
1973
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
5

Preparer

Firm
Lawson Travers CPA PLLC
Address
613 Aberdeen Drive, Chapel Hill, NC 27516
Preparer
Lawson A Travers
Phone
9199602794
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Triangle United Church CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
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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.
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IRS990/USAddress/AddressLine1Txt03137 Jones Ferry Road
IRS990/USAddress/CityNm0Chapel Hill
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Mike Hickey
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-02

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$238,049
Liabilities
$28,696
Net assets
$209,353
Revenue
$185,038
Expenses
$245,779
Net income
-$60,741
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