Civic Intelligence

Rainbow Omega Inc.

990 • Fiscal year 2017 • EIN 63-1036500

Oct 01, 2016 to Sep 30, 2017 • Filed on Jan 20, 2018

PO Box 740Eastaboga, AL 36260

(256) 831-0919

Siviq Scores

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

Liabilities / Assets

77th percentile

0.54x

Higher debt load relative to assets than 77% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

77th percentile

0.73x

Higher debt load relative to revenue than 77% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

45th percentile

1.5%

Higher net margin than 45% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

29th percentile

$74,561

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

27th percentile

-1.9%

Faster asset growth than 27% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

24th percentile

-5.0%

Faster revenue growth than 24% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$8,319,480

Down $532,627 (-6.0%) from 2015

Net Assets

Up

$3,794,157

Up $364,399 (+11%) from 2015

Liabilities

Down

$4,525,323

Down $897,026 (-17%) from 2015

Revenue

Up

$6,212,272

Up $341,114 (+5.8%) from 2015

Expenses

Up

$6,121,365

Up $115,303 (+1.9%) from 2015

Net Income

Up

$90,907

Up $225,811 (+167%) from 2015

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $9,161,390Liabilities 2013: $5,316,690Net Assets 2013: $3,844,7002013Assets 2014: $8,941,732Liabilities 2014: $5,377,070Net Assets 2014: $3,564,6622014Assets 2015: $8,852,107Liabilities 2015: $5,422,349Net Assets 2015: $3,429,7582015Assets 2017: $8,319,480Liabilities 2017: $4,525,323Net Assets 2017: $3,794,1572017Assets 2018: $8,205,479Liabilities 2018: $4,207,461Net Assets 2018: $3,998,0182018Assets 2019: $9,411,021Liabilities 2019: $4,122,649Net Assets 2019: $5,288,3722019Assets 2020: $11,399,788Liabilities 2020: $4,588,793Net Assets 2020: $6,810,9952020Assets 2021: $11,930,247Liabilities 2021: $3,519,327Net Assets 2021: $8,410,9202021Assets 2022: $11,510,079Liabilities 2022: $3,229,343Net Assets 2022: $8,280,7362022Assets 2024: $10,918,119Liabilities 2024: $2,986,403Net Assets 2024: $7,931,7162024

Highlighted filing

2017

Assets$8,319,480
Liabilities$4,525,323
Net Assets$3,794,157

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2013: $5,191,9502013Revenue 2014: $5,491,750Expenses 2014: $5,771,788Net Income 2014: -$280,0382014Revenue 2015: $5,871,158Expenses 2015: $6,006,062Net Income 2015: -$134,9042015Revenue 2017: $6,212,272Expenses 2017: $6,121,365Net Income 2017: $90,9072017Revenue 2018: $6,498,608Expenses 2018: $6,310,964Net Income 2018: $187,6442018Revenue 2019: $7,899,810Expenses 2019: $6,609,456Net Income 2019: $1,290,3542019Revenue 2020: $8,618,263Expenses 2020: $7,095,640Net Income 2020: $1,522,6232020Revenue 2021: $8,832,059Expenses 2021: $7,269,358Net Income 2021: $1,562,7012021Revenue 2022: $8,278,220Expenses 2022: $8,224,257Net Income 2022: $53,9632022Revenue 2024: $8,393,403Expenses 2024: $8,793,268Net Income 2024: -$399,8652024

Highlighted filing

2017

Revenue$6,212,272
Expenses$6,121,365
Net Income$90,907
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Jan 20, 2018
Return Version
2016v3.1
Gross Receipts
$6,257,992
Mission and Program Overview

Mission

Provide group homes for developmentally disabled adults in a caring and nurturing environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,885,149$7,566,876▼ $318,273
Accounts Receivable$178,310$421,001▲ $242,691
Cash and Non-Interest-Bearing Accounts$350,044$219,246▼ $130,798
Pledges and Grants Receivable$19,350--
Prepaid Expenses and Deferred Charges$18,866$18,861▼ $5
Total Assets$8,482,103$8,319,480▼ $162,623
Other Assets Total$30,384$93,496▲ $63,112
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,171,010$4,026,054▼ $144,956
Deferred Revenue$332,578$264,469▼ $68,109
Accounts Payable and Accrued Expenses$264,915$224,150▼ $40,765
Other Liabilities$10,350$10,650▲ $300
Total Liabilities$4,778,853$4,525,323▼ $253,530
Net Assets / Fund Balance
Unrestricted Net Assets$3,609,710$3,712,217▲ $102,507
Temporarily Rstr Net Assets$93,540$81,940▼ $11,600
Total Net Assets Fund Balance$3,703,250$3,794,157▲ $90,907
Total Liabilities and Net Assets / Fund Balance$8,482,103$8,319,480▼ $162,623

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,566,876$4,760,869$12,327,745
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
M Stentson CarpenterChairman & EFT$74,561$74,561
Matt VegaDirector-$8,585$8,585

Board Members and Trustees

NameTitle
Clay ScofieldDirector
Dr Vance MooreDirector
Jane MullallyDirector
Jeff HelmsDirector
Mary Ann CrumpDirector
Mike AdamsDirector
Mona JenkinsDirector
Remelle Orman DavisDirector
Ronald HubbardDirector
Wayne WilliamsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,376,858
Program Service Revenue
$4,732,197
Investment Income
$103
Other Revenue
$103,114
All Other Contributions
$1,056,858
Change in Net Assets
$90,907

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table2$45,814
Total Noncash Contributions2$45,814

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,212,272
Total Revenue per Audited Statements
$6,212,272
Total Revenue per Form 990
$6,212,272
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,030,258
Other Expenses$2,091,107
Total Fundraising Expense$97,056
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,992,355$492,203-$3,484,558
Depreciation Depletion$401,302$30,741$12,544$444,587
Payroll Taxes$225,841$32,222-$258,063
Occupancy$204,979$9,959-$214,938
Other Employee Benefits$161,894$38,114$13,068$213,076
Interest$103,665$102,767$465$206,897
Insurance$132,870$40,400$18,132$191,402
Fees for Services Other$35,094$88,675-$123,769
Office Expenses$47,991$54,532$19,986$122,509
Current Officers, Directors, Trustees, and Key Employees$27,808$37,280$9,473$74,561
Other Expenses$17,133$56,935$2,361$74,068
Travel$17,440$16,560$12,106$46,106
Fees for Services Accounting$21,900$3,700-$25,600
All Other Expenses$9,134$5,282$32$14,448
Advertising$151$5,888$7,023$13,062
Total Functional Expenses$4,985,741$1,038,568$97,056$6,121,365

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,121,365
Total Expenses per Audited Statements$6,121,365
Total Expenses per Form 990$6,121,365
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$148,834
Fundraising Direct Expenses$45,720
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinners$148,834$148,834-$148,834
Total Events$148,834$148,834$45,720$103,114
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$10,650
Governance and Compliance

Governance Checklist

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

Executive director, president of board of directors and comptroller review 990 before filing.

Form 990, Page 6, Part VI, Line 12C

Annually requirement of all board members.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon written request.

Filing and Contact Details

Filer

Filer Name
Rainbow Omega Inc
EIN
63-1036500
Address
PO BOX 740, EASTABOGA, AL 36260

Signing Officer

Name
M Stentson Carpenter
Title
Chairman & Exe. Director
Signed
2018-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
M Stentson Carpenter
Formed
1991
Legal Domicile
Al
Voting Board Members
13
Independent Board Members
13
Employees
236

Preparer

Firm
Lawrence Hitt & Pugh Llp
Address
513 ENERGY CENTER BLVD STE 1001, NORTHPORT, AL 35473-5805
Preparer
H Mack Hitt
Phone
2057523700
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXECUTIVE DIRECTOR, PRESIDENT OF BOARD OF DIRECTORS AND COMPTROLLER REVIEW 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUALLY REQUIREMENT OF ALL BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03794157
IRS990/TotalOtherProgSrvcExpenseAmt04584439

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