RAINBOW HOUSING CORPORATION

EIN: 061237602 501(c)(3)

MIDDLETOWN, CT

Total Revenue
$468,499
Total Expenses
$308,207
Total Assets
$3,294,120
Net Assets
$2,935,840
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
CT
Principal Officer
DANIEL E OSBORNE
Phone
8603435300
Tax Period
2023-07-01 to 2024-06-30

RAINBOW HOUSING CORPORATION, founded in 1988, is a small nonprofit that reported $468K in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $160K, a strong 34% operating margin.

Mission

TO IDENTIFY, PREPARE AND ESTABLISH RESIDENTIAL FACILITIES FOR PERSONS WITH MENTAL ILLNESS AND SUBSTANCE ABUSE CHALLENGES AND HOLD THESE AND OTHER FIXED ASSETS.

Program Service Accomplishments

Program 1
Expenses: $308,207 Revenue: $149,041

TO LEASE FACILITIES AND OTHER FIXED ASSETS ESTABLISHED FOR PERSONS WITH MENTAL ILLNESS AND SUBSTANCE ABUSE TO GILEAD COMMUNITY SERVICES, INC., OUR SISTER ORGANIZATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $218,839
Program Service Revenue $149,041
Investment Income $100,619
Other Revenue $0
TOTAL REVENUE $468,499

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $308,207
Other Expenses $308,207
TOTAL EXPENSES $308,207

Year-over-Year Comparison

2023 2022 Change
Revenue $468,499 $333,515 +0.4%
Expenses $308,207 $303,243 +0.0%
Net Income $160,292 $30,272 +4.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$1,169,607
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BARRY M SIMON PRESIDENT & N/A
Officer
$0 $63,011 $347,667
CHRISTINE D LEIBY TREASURER & N/A
Officer
$0 $41,700 $241,746
DANIEL E OSBORNE CEO-GILEAD N/A
Officer
$0 $8,347 $213,554
GAYLE WINTJEN SECRETARY & N/A
Officer
$0 $40,658 $197,225
LUCY MCMILLIAN SECRETARY & N/A
Officer
$0 $12,925 $169,415
JUSTIN SALVIO COO N/A
Highest
$0 $33,443 $144,230
RAY BOURRET CHAIR 0.50
Officer Director
$0 $0 $0
LAURA PATEY DIRECTOR 0.50
Director
$0 $0 $0
RUSS HASSMANN DIRECTOR 0.50
Director
$0 $0 $0
CATHY BOONE DIRECTOR 0.50
Director
$0 $0 $0
PAUL ZAKARIAN DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $468,499 $308,207 $3,294,120 $160,292
2023 $333,515 $303,243 $3,688,247 $30,272
2022 $380,387 $323,700 $3,658,660 $56,687
2021 $372,841 $295,002 $3,789,690 $77,839
2020 $408,140 $291,434 $3,649,708 $116,706
2019 $375,094 $359,213 $3,587,919 $15,881
2018 $343,444 $356,782 $3,631,519 $-13,338
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