RAINBOW SERPENT INC (EIN 922618393) - 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

2023

Legal Domicile

Principal Officer

MIKAEL OWUNNA

Phone

4128466066

Tax Period

2023-07-01 to 2024-06-30

RAINBOW SERPENT INC, founded in 2023, is a small nonprofit in the Arts, Culture & Humanities sector that reported $612K in total revenue in fiscal year 2023. Revenue surged 513% from the prior year, signaling strong growth momentum. The organization ran a surplus of $420K, a strong 69% operating margin.

Mission

RAINBOW SERPENT IS COMMITTED TO ADVANCING BLACK LGBTQ CULTURE THROUGH THE EXPLORATION OF EMERGING TECHNOLOGIES, INNOVATIVE HEALING PROTOCOLS, AFRICAN COSMOLOGIES, AND MULTIMEDIA ART. WE ARE DEDICATED TO PROMOTING AND CELEBRATING THE DIVERSITY AND RICHNESS OF BLACK LGBTQ CULTURE WHILE ADVANCING HEALING AND EMPOWERMENT WITHIN THE COMMUNITY. OUR LARGEST AIM IS TO CREATE A NEW RADIANT REALITY, ONE AS RESPLENDENT AND DIVERSE AS THE RAINBOW AND AS FERTILE AND ENDURING AS THE SERPENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $599,274

Program Service Revenue $9,975

Investment Income $103

Other Revenue $2,384

TOTAL REVENUE $611,736

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,280

Fundraising Expenses $8,146

Program Expenses $143,682

Other Expenses $141,654

TOTAL EXPENSES $192,084

Year-over-Year Comparison

	2023	2022	Change
Revenue	$611,736	$99,722	+5.1%
Expenses	$192,084	$72,474	+1.7%
Net Income	$419,652	$27,248	+14.4%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR HASANI BAHARANYI	PRESIDENT	1	Director	$0	$0	$0
DERRICK WORTES	VICE PRESIDENT	1	Director	$0	$0	$0
DR WESLEE GLENN	TREASURER	1	Director	$0	$0	$0
MARSALIS GIBSON	SECRETARY	1	Director	$0	$0	$0
ANTHONY EMEKA HARBOUR	COMMUNICATIONS CHAIR	1	Director	$0	$0	$0
MARQUES REDD	COFOUNDER - EXECUTIVE DIRECTOR	50	Officer	$0	$0	$0
MIKAEL OWUNNA	COFOUNDER-EXECUTIVE DIRECTOR	50	Officer	$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	No data	No data	No data	No data
2024	$611,736	$192,084	$447,631	$419,652
2024	$611,736	$192,084	$447,631	$419,652

RAINBOW SERPENT INC