RAINBOW LABS MENTORING INC (EIN 863680722) - Form 990 Financial Analysis & Trantor Score

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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

2021

Legal Domicile

Principal Officer

JACOB TOUPS

Phone

2133028293

Tax Period

2024-01-01 to 2024-12-31

RAINBOW LABS MENTORING INC, founded in 2021, is a small nonprofit in the Youth Development sector that reported $908K in total revenue in fiscal year 2024. Revenue surged 87% from the prior year, signaling strong growth momentum.

Mission

A SAFE SPACE FOR QUEER YOUTH TO DREAM BIG. RAINBOW LABS IS A BOLD, JOYFUL SPACE WHERE QUEER AND GENDER NONCONFORMING YOUTH (AGES 12-18) IN LOS ANGELES CAN BE THEMSELVES, FIND COMMUNITY, AND EXPLORE WHO THEY WANT TO BECOME - ONE CONNECTION AT A TIME.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $908,671

Program Service Revenue $0

Investment Income $-1,362

Other Revenue $456

TOTAL REVENUE $907,765

Expense Breakdown

Grants Paid $0

Salaries & Benefits $294,286

Fundraising Expenses $181,412

Program Expenses $676,110

Other Expenses $679,132

TOTAL EXPENSES $973,418

Year-over-Year Comparison

	2024	2023	Change
Revenue	$907,765	$485,910	+0.9%
Expenses	$973,418	$363,659	+1.7%
Net Income	$-65,653	$122,251	-1.5%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$30,000

Total Directors

$30,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLE LOVEJOY	CHAIR	5.00	Officer Director	$0	$0	$0
MICHAEL DALY	TREASURER	5.00	Officer Director	$0	$0	$0
TERRELL STRAYHORN	SECRETARY	5.00	Officer Director	$0	$0	$0
FELIX CRUZ	DIRECTOR	5.00	Director	$0	$0	$0
JOSE DIAZ	DIRECTOR	5.00	Director	$0	$0	$0
CHRISTAIN GREEN	DIRECTOR	5.00	Director	$0	$0	$0
BRITTANY JONES	DIRECTOR	5.00	Director	$0	$0	$0
JACOB TOUPS	EXECUTIVE DIRECTOR	40.00	Officer Director	$30,000	$0	$30,000

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
2024	$907,765	$973,418	$294,054	$-65,653
2024	No data	No data	No data	No data
2023	$485,910	$363,659	$259,852	$122,251
2022	$516,871	$467,104	$121,591	$49,767
2021	$136,247	$73,192	$64,722	$63,055

RAINBOW LABS MENTORING INC