Civic Intelligence

Rainbow Omega Inc.

990 • Fiscal year 2019 • EIN 63-1036500

Oct 01, 2018 to Sep 30, 2019 • Filed on Feb 22, 2020

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

73rd percentile

0.44x

Higher debt load relative to assets than 73% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

0.52x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

74th percentile

16%

Higher net margin than 74% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

31st percentile

$78,660

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

76th percentile

15%

Faster asset growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

79th percentile

22%

Faster revenue growth than 79% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$9,411,021

Up $1,205,542 (+15%) from 2018

Net Assets

Up

$5,288,372

Up $1,290,354 (+32%) from 2018

Liabilities

Down

$4,122,649

Down $84,812 (-2.0%) from 2018

Revenue

Up

$7,899,810

Up $1,401,202 (+22%) from 2018

Expenses

Up

$6,609,456

Up $298,492 (+4.7%) from 2018

Net Income

Up

$1,290,354

Up $1,102,710 (+588%) from 2018

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

2019

Assets$9,411,021
Liabilities$4,122,649
Net Assets$5,288,372

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

2019

Revenue$7,899,810
Expenses$6,609,456
Net Income$1,290,354
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Feb 22, 2020
Return Version
2018v3.2
Gross Receipts
$7,953,750
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$7,257,020$7,479,221▲ $222,201
Cash and Non-Interest-Bearing Accounts$402,055$1,046,698▲ $644,643
Accounts Receivable$313,989$749,877▲ $435,888
Prepaid Expenses and Deferred Charges$19,141$38,025▲ $18,884
Total Assets$8,205,479$9,411,021▲ $1,205,542
Other Assets Total$213,274$97,200▼ $116,074
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,721,067$3,516,848▼ $204,219
Accounts Payable and Accrued Expenses$212,786$334,547▲ $121,761
Deferred Revenue$261,358$258,804▼ $2,554
Other Liabilities$12,250$12,450▲ $200
Total Liabilities$4,207,461$4,122,649▼ $84,812
Net Assets / Fund Balance
Unrestricted Net Assets$3,925,183$4,546,875▲ $621,692
Temporarily Rstr Net Assets$72,835$741,497▲ $668,662
Total Net Assets Fund Balance$3,998,018$5,288,372▲ $1,290,354
Total Liabilities and Net Assets / Fund Balance$8,205,479$9,411,021▲ $1,205,542

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,479,221$5,543,475$13,022,696
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
M Stentson CarpenterChairman & EFT$78,660$78,660
Matt VegaDirector-$37,282$37,282

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,175,438
Program Service Revenue
$5,620,929
Investment Income
$7,170
Other Revenue
$96,273
All Other Contributions
$1,840,438
Change in Net Assets
$1,290,354

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,899,810
Total Revenue per Audited Statements
$7,899,810
Total Revenue per Form 990
$7,899,810
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,466,975
Other Expenses$2,142,481
Total Fundraising Expense$65,395
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,242,274$626,566$732$3,869,572
Depreciation Depletion$416,369$21,339-$437,708
Payroll Taxes$244,232$43,413-$287,645
Other Employee Benefits$171,129$46,766$13,203$231,098
Interest$86,770$103,357$134$190,261
Occupancy$179,401$8,414-$187,815
Insurance$125,768$35,833$1,104$162,705
Office Expenses$76,307$69,863$13,717$159,887
Fees for Services Other$31,280$89,840-$121,120
Other Expenses$62,425$52,594$214$115,019
All Other Expenses$13,508$53,365$16,897$83,770
Current Officers, Directors, Trustees, and Key Employees$29,104$35,397$14,159$78,660
Travel$16,572$13,741$1,370$31,683
Fees for Services Accounting$21,100$6,500-$27,600
Advertising-$688$2,920$3,608
Total Functional Expenses$5,321,566$1,222,495$65,395$6,609,456

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,609,456
Total Expenses per Audited Statements$6,609,456
Total Expenses per Form 990$6,609,456
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$150,213
Fundraising Direct Expenses$53,940
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinners$150,213$150,213-$150,213
Total Events$150,213$150,213$53,940$96,273
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$12,450
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
2020-02-22
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
243

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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IRS990/ProgramServiceRevenueGrp/Desc1RESIDENTIAL RENTAL
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12048129
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2643928
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02928872
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12048129
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2643928
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt04905197
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IRS990/PYOtherRevenueAmt0124751
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IRS990/PYTotalExpensesAmt06310964
IRS990/PYTotalRevenueAmt06498608
IRS990/ReconcilationRevenueExpnssAmt01290354
IRS990/RegularMonitoringEnfrcInd0true
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01376858
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01863667
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt05311673
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt04744016
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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/TotalEmployeeCnt0243
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03998018
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05288372
IRS990/TotalOtherProgSrvcExpenseAmt04905197

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