Civic Intelligence

Rainbow Soccer Ltd.

990 • Fiscal year 2024 • EIN 56-1030908

Jun 01, 2023 to May 31, 2024 • Filed on Jul 17, 2024

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

54th percentile

0.01x

Higher debt load relative to assets than 54% of similar nonprofits.

2024 filings • NTEE N • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.01x

Higher debt load relative to revenue than 57% of similar nonprofits.

2024 filings • NTEE N • $500k-$1M nonprofits • Source year 2024

Net Margin

50th percentile

6.3%

Higher net margin than 50% of similar nonprofits.

2024 filings • NTEE N • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

88th percentile

$64,590

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 15.8% of source-year revenue.

2024 filings • NTEE N • $500k-$1M nonprofits • Source year 2024

Asset Growth

42nd percentile

3.9%

Faster asset growth than 42% of similar nonprofits.

2024 filings • NTEE N • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-39%

Faster revenue growth than 5% of similar nonprofits.

2024 filings • NTEE N • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$566,883

Up $21,292 (+3.9%) from 2023

Net Assets

Up

$561,400

Up $25,876 (+4.8%) from 2023

Liabilities

Down

$5,483

Down $4,584 (-46%) from 2023

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin50th percentile

Revenue

Down

$409,437

Down $265,370 (-39%) from 2023

Expenses

Down

$383,561

Down $34,419 (-8.2%) from 2023

Net Income

Down

$25,876

Down $230,951 (-90%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2024

Assets$566,883
Liabilities$5,483
Net Assets$561,400
Open 2024 Filing

Operations Trend

Revenue Growth5th 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

2024

Revenue$409,437
Expenses$383,561
Net Income$25,876
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Jul 17, 2024
Return Version
2023v5.1
Gross Receipts
$409,437
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
Land, Buildings, and Equipment, Net$342,185$345,322▲ $3,137
Savings and Temporary Cash Investments$139,922$163,628▲ $23,706
Cash and Non-Interest-Bearing Accounts$13,484$7,933▼ $5,551
Total Assets$545,591$566,883▲ $21,292
Other Assets Total$50,000$50,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$10,067$5,483▼ $4,584
Total Liabilities$10,067$5,483▼ $4,584
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$535,524$561,400▲ $25,876
Total Net Assets Fund Balance$535,524$561,400▲ $25,876
Total Liabilities and Net Assets / Fund Balance$545,591$566,883▲ $21,292

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$61,200$421,472$482,672
Land$221,531-$221,531
Equipment$62,591$22,099$84,690
Other Assets Org$50,000--
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike HickeyExecutive DirectorPT$59,790$4,800$64,590
John KepleyProgram DirectorPT$45,520-$45,520

Board Members and Trustees

NameTitle
Ted CalhounBoard President
Wilma RiveraBoard Vice President
Catherine DuncanBoard Member
Toland BarfieldBoard Secretary
Joel LloydBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$30,399
Program Service Revenue
$375,480
Investment Income
$3,558
Other Revenue
$0
All Other Contributions
$30,399
Change in Net Assets
$25,876
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$247,233
Salaries, Compensation, and Employee Benefits$136,328
Total Fundraising Expense$120
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$106,947$4,796-$111,743
Current Officers, Directors, Trustees, and Key Employees$80,490$14,204-$94,694
Fees for Services Other$27,539--$27,539
Other Salaries and Wages$27,319--$27,319
Depreciation Depletion$20,263$419-$20,682
Information Technology$11,242--$11,242
Payroll Taxes$8,409$1,106-$9,515
Other Employee Benefits$4,080$720-$4,800
Insurance$2,860$1,033-$3,893
Office Expenses-$3,774-$3,774
Fees for Services Accounting-$3,241-$3,241
Advertising-$3,054$120$3,174
Conferences and Meetings-$1,710-$1,710
Fees for Services Legal-$520-$520
Other Expenses$284--$284
Total Functional Expenses$348,864$34,577$120$383,561
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
Phone
9199678797
Signed
2024-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hickey
Formed
1973
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
6
Volunteers
220

Preparer

Firm
Lawson Travers CPA PLLC
Address
613 Aberdeen Drive, Chapel Hill, NC 27516
Preparer
Lawson A Travers
Phone
9199602794
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt078
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0188
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt05731
IRS990ScheduleA/InvestmentIncomeCYPct00.00290
IRS990ScheduleA/InvestmentIncomePYPct00.00120
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0297834
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IRS990ScheduleD/LandGrp/BookValueAmt0221531
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0221531
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt061200
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0421472
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt050000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Triangle United Church CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0345322
IRS990ScheduleD/TotalBookValueOtherAssetsAmt050000
IRS990/ScheduleJRequiredInd0false
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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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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0566883
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0323 Mel Oaks Drive
IRS990/USAddress/CityNm0Chapel Hill
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027516
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.rainbowsoccer.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mike Hickey
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09199678797
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Rainbow Soccer LTD
ReturnHeader/Filer/BusinessNameControlTxt0RAIN

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$566,883
Liabilities
$5,483
Net assets
$561,400
Revenue
$409,437
Expenses
$383,561
Net income
$25,876
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