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 Period06/2014
Assets$25,000 to $99,999
Income$1 to $9,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$30,179
Amount of Income$1,736
Form 990 Revenue Amount$1,736
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2014: $1,736
The Rainbow Mountain Foundation: 

 $1,736
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2014: $30,179
This organization: 

 $30,179
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2013: $115,158
The Rainbow Mountain Foundation: 

 $115,158
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2013: 0.0
This organization: 

 0.0
Other organizations performing similar types of work: 

 2.5

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 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2013
Total revenue$1,578
Contributions, gifts, grants, and similar amounts received$0
Program service revenue including government fees and contracts$0
Membership dues and assessments$0
Investment income$1,578
Gain/Loss from sale of assets other than inventory$0
Net income/loss from gaming and fundraising events$0
Gross profit/loss from sales of inventory$0
Other revenue$0
Total expenses$115,158
Total net assets$28,805
Excess/Deficit for the year$-113,580
Net assets or fund balances at beginning of year$142,385
Other changes in net assets or fund balances$0
Net assets or fund balances at end of year$28,805
Balance Sheets
2013
Total assets$28,805
Total liabilities$0
Net assets or fund balances$28,805
Other Information
2013
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Has the organization filed a Form 990-T for the year?No
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?No
Total amount involved$0
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$67,473
Subtotal$67,473
Gifts, grants, contributions, and membership fees received$65,030
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$2,443
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$67,473
Public support$67,473
Subtotal$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
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
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
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2The University Of Nc At Chapel Hill Foundation Investment Fund Inc104 Airport Dr Campus Box 1270, Chapel Hill, NC 27599-5023NC1996-06$281,704,423
3Nc State Investment Fund IncNcsu Box 7207, Raleigh, NC 27695-0001NC1998-08$80,644,803
4North Carolina State University Foundation IncNcsu Box 7207, Raleigh, NC 27695-0001NC1949-02$72,548,170
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Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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