The Rainbow Mountain Foundation in Asheville, North Carolina (NC)

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The Rainbow Mountain Foundation
Employer Identification Number (EIN)561872155
Name of OrganizationThe Rainbow Mountain Foundation
Address574 Haywood Rd, Asheville, NC 28806-3556
ActivitiesFundraising, Gifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date07/1994
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$91,626
Amount of Income$55,111
Form 990 Revenue Amount$55,111
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2011: $55,111
The Rainbow Mountain Foundation: 

 $55,111
Other organizations performing similar types of work: 

 $6,316,681

Assets in 2011: $91,626
This organization: 

 $91,626
Other organizations performing similar types of work: 

 $21,924,426

Expenses in 2007: $52,685
The Rainbow Mountain Foundation: 

 $52,685
Other organizations performing similar types of work: 

 $2,919,811

Income to expenses ratio in 2007: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.4

Expenses allocated to program services in 2007: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2007: 109.9%
This organization: 

 109.9%
Other organizations performing similar types of work: 

 53.7%

Financial snapshot ($)

Revenue for 2007

Expenses for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$30,261$37,335$34,698$37,004$29,202$56,033$84,269$47,996
Contributions, gifts, grants, and similar amounts received$28,012$36,339$34,143$36,159$28,249$54,258$76,818$52,730
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Investment income$2,249$996$555$845$924$1,419$1,834$1,240
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$-127$5,617$-5,974
Gross amount from sales of assets other than inventory$0$0$0$0$0$-127$5,617$-5,974
Less: cost or other basis and sales expenses$0$0$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$29$483$0$0
Total expenses$21,422$47,382$25,790$28,682$30,294$44,741$100,264$52,685
Grants and similar amounts paid$21,400$46,917$25,245$28,274$30,264$44,239$96,536$52,182
Benefits paid to or for members$0$0$0$0$0$0$0$0
Salaries, other compensation, and employee benefits$0$0$0$0$0$0$0$0
Professional fees and other payments to independent contractors$0$340$385$355$0$425$0$0
Occupancy, rent, utilities, and maintenance$0$0$0$0$30$0$0$0
Printing, publications, postage, and shipping$0$0$0$0$0$0$0$0
Other expenses$22$125$160$53$0$77$3,728$503
Net assets or fund balances at end of year$58,734$48,687$57,595$65,917$64,825$76,117$60,122$55,433
Excess or (deficit) for the year$8,839$-10,047$8,908$8,322$-1,092$11,292$-15,995$-4,689
Net assets or fund balances at beginning of year$49,895$58,734$48,687$57,595$65,917$64,825$76,117$60,123
Other changes in net assets or fund balances$0$0$0$0$0$0$0$-1
Balance Sheets
20002001200220032004200520062007
Total assets$58,734$48,687$57,595$65,917$64,825$76,542$60,122$55,433
Cash, savings, and investments$58,734$48,687$57,595$65,917$64,825$76,542$60,122$55,433
Land and buildings$0$0$0$0$0$0$0$0
Other assets$0$0$0$0$0$0$0$0
Total liabilities$0$0$0$0$0$425$0$0
Net assets or fund balances$58,734$48,687$57,595$65,917$64,825$76,117$60,122$55,433
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
561217861Rainbow Mountain Childrens SchoolNo$0
Total$0
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Indiana University FoundationPO BOX 500, Bloomington, IN 47402-0500IN1938-03$4,219,978,331
2Harvard Management Private Equity Corporation600 Atlantic Avenue, Boston, MA 02210-2203MA1991-03$2,342,928,583
3Trustees For Harvard University1033 Mass Ave Ste 3, Cambridge, MA 02138-5366MA1958-09$2,196,378,015
4University Of Nebraska Foundation1010 Lincoln Mail Ste 300, Lincoln, NE 68501NE1963-04$2,187,063,167
5Gothic Corporation280 S Mangum St Ste 210, Durham, NC 27701-3675NC1993-09$1,051,242,583
6The University Of Nc At Chapel Hill Foundation Investment Fund Inc104 Airport Dr Campus Box 1270, Chapel Hill, NC 27599-5023NC1996-06$281,704,423
7Nc State Investment Fund IncNcsu Box 7207, Raleigh, NC 27695-0001NC1998-08$61,018,949
8University Of North Carolina At Greensboro Investment Fund IncPO BOX 26170, Greensboro, NC 27402-6170NC1992-08$44,173,506
9North Carolina State University Foundation IncNcsu Box 7207, Raleigh, NC 27695-0001NC1949-02$36,838,795
10Medical Foundation Of North Carolina Inc880 Mlk Blvd, Chapel Hill, NC 27514-2600NC1951-07$35,388,314
11Appalachian State University Foundation IncAsu Box 32064 Mckinney Alumni Ctr, Boone, NC 28608-0001NC1971-03$30,614,198
12Foundation Of The University Of North Carolina At Charlotte Inc9201 University City Blvd Reese No, Charlotte, NC 28223-0001NC1963-07$13,269,824
13Guilford Technical Community College Foundation IncPO BOX 309, Jamestown, NC 27282-0309NC1967-05$10,444,711
14East Carolina University Foundation Inc2200 South Charles Blvd Ste 1100, Greenville, NC 27858-5235NC1969-03$9,373,763
15University Of North Carolina School Of The Arts Foundation IncPO BOX 12189, Winston Salem, NC 27117-2189NC1964-12$9,209,972
16Duke University Special Ventures Fund Inc280 S Mangum St Ste 210, Durham, NC 27701-3675NC1986-06$8,382,674
17Central Piedmont Community College Foundation IncPO BOX 35009, Charlotte, NC 28235-5009NC1968-11$7,853,389
18Aubrey Lee Brooks FoundationPO BOX 13663, Rtp Rk, NC 27709-3663NC1973-04$6,632,824
19Winston-Salem State University Foundation Incorporated, Simon Green Atkins House601 S Martin Luther King Jr Dr, Winston Salem, NC 27110-0003NC1972-03$5,685,201
20Unc-G Excellence FoundationPO BOX 26170, Greensboro, NC 27402-6170NC1967-09$5,379,650
21Cardeza T D & Mcd-Cardeza Fdn1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28288-0001NC1974-11$3,952,009
22North Carolina Central University Foundation IncPO BOX 52466, Durham, NC 27717-2466NC1974-09$3,891,283
23North Carolina Community College Foundation200 W Jones St, Raleigh, NC 27603-1378NC1987-03$2,909,437
24University Of North Carolina At Asheville Foundation Inc1 University Hts, Asheville, NC 28804-3251NC1970-06$2,408,704
25Pulp And Paper Foundation IncNcsu Box 7207, Raleigh, NC 27695-7207NC1949-02$2,401,610
26The Lord Foundation Of North CarolinaPO BOX 90271, Durham, NC 27708-0271NC1985-08$1,154,303
27Summit Charter School Foundation IncPO BOX 2493, Cashiers, NC 28717-2493NC1998-03$525,114
28Montreat College Foundation IncPO BOX 1267, Montreat, NC 28757-0016NC1982-07$382,844
29Duke Management Company406 Blackwell Street, Durham, NC 27701-3983NC1991-10$337,990
30The Rainbow Mountain Foundation574 Haywood Rd, Asheville, NC 28806-3556NC1994-07$55,111
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona6
California79
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii3
Iowa15
Idaho6
Illinois29
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina27
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio34
Oklahoma12
Oregon7
Pennsylvania21
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas53
Utah4
Virginia29
Washington10
Wisconsin19
West Virginia6
Wyoming2
International3
Total706

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