Rainbow Business & Professional Assoc
Rainbow Business & Professional Assoc has seen a significant decline in revenue over the past decade and currently reports no assets or revenue.
EIN: 10502284 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $6K |
| Program Spending | 80% |
| Net Assets | $1K |
| Transparency Score | 55/100 |
Is Rainbow Business & Professional Assoc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rainbow Business & Professional Assoc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rainbow Business & Professional Assoc
Rainbow Business & Professional Assoc (EIN: 10502284) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rainbow Business & Professional Assoc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rainbow Business & Professional Assoc is a micro nonprofit that has been operating for 26 years, with 8 years of IRS 990 filings on record (2011–2018). Revenue has grown at a compound annual rate of -14.9%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $7K |
| Total Expenses | $6K |
| Surplus / Deficit | +$588 |
| Total Assets | $1K |
| Net Assets | $1K |
| Operating Margin | 8.9% |
| Months of Reserves | 2.6 months |
Financial Health Grade: A
In 2018, Rainbow Business & Professional Assoc reported a surplus of $588 with revenue exceeding expenses, holds 2.6 months of operating reserves (limited).
Financial Trends
Over 8 years of filings (2011–2018), Rainbow Business & Professional Assoc's revenue has declined at a compound annual growth rate (CAGR) of -14.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -12.8% | -36.5% | +80.5% |
| 2017 | +30.0% | +19.8% | -72.1% |
| 2016 | -41.7% | -25.8% | -44.2% |
| 2015 | -40.7% | -45.1% | -12.2% |
| 2014 | -41.2% | -31.7% | -32.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2000 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Rainbow Business & Professional Assoc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Rainbow Business & Professional Assoc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $588, with revenue exceeding expenses.
Executive Compensation Analysis
No officer compensation has been reported in any of the available filings, which is appropriate given the organization's very small size and declining revenue, suggesting a volunteer-led structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Rainbow Business & Professional Assoc's IRS 990 filings:
- Significant and consistent decline in revenue over the past decade, from $30,473 in 2012 to $0 currently.
- Current reported revenue and assets are $0, raising questions about ongoing operations.
- NTEE code is unknown, which can sometimes hinder understanding of its specific programmatic focus.
Strengths
The following positive indicators were identified for Rainbow Business & Professional Assoc:
- Consistent filing of IRS Form 990s, indicating good transparency.
- No reported liabilities across all filings, suggesting a debt-free status.
- No officer compensation reported, indicating a volunteer-driven model appropriate for its size.
Frequently Asked Questions about Rainbow Business & Professional Assoc
Is Rainbow Business & Professional Assoc a legitimate charity?
Rainbow Business & Professional Assoc (EIN: 10502284) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 55/100. It has 8 years of IRS 990 filings on record. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Rainbow Business & Professional Assoc spend its money?
Rainbow Business & Professional Assoc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Rainbow Business & Professional Assoc tax-deductible?
Rainbow Business & Professional Assoc is registered as a tax-exempt nonprofit (EIN: 10502284). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rainbow Business & Professional Assoc's spending goes to programs?
Rainbow Business & Professional Assoc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Rainbow Business & Professional Assoc located?
Rainbow Business & Professional Assoc is headquartered in Portland, Maine and files with the IRS under EIN 10502284.
How many years of IRS 990 filings does Rainbow Business & Professional Assoc have?
Rainbow Business & Professional Assoc has 8 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Is Rainbow Business & Professional Assoc still active?
The latest available data shows $0 in revenue and assets, which could indicate inactivity or a significant pause in operations. Further investigation beyond the 990 filings would be needed to confirm current operational status.
What caused the significant decline in revenue?
The IRS 990 filings do not provide specific reasons for the revenue decline from $30,473 in 2012 to $6,577 in 2018, and ultimately to $0. This would require direct inquiry with the organization.
How does the organization fund its operations with $0 revenue?
With $0 reported revenue and assets, it's unclear how the organization would currently fund any operations. It's possible the latest filing reflects a period of dormancy or winding down.
Filing History
IRS 990 filing history for Rainbow Business & Professional Assoc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2018), Rainbow Business & Professional Assoc's revenue has declined by 67.7%, moving from $20K to $7K. Total assets decreased by 9.6% over the same period, from $1K to $1K. Total functional expenses fell by 73.8%, from $23K to $6K. In its most recent filing year (2018), Rainbow Business & Professional Assoc reported a surplus of $588, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $7K | $6K | $1K | $0 | — | View 990 |
| 2017 | $8K | $9K | $730 | $0 | — | View 990 |
| 2016 | $6K | $8K | $3K | $0 | — | View 990 |
| 2015 | $10K | $11K | $5K | $0 | — | View 990 |
| 2014 | $17K | $19K | $5K | $0 | — | View 990 |
| 2013 | $29K | $28K | $8K | $0 | — | View 990 |
| 2012 | $30K | $24K | $8K | $0 | — | View 990 |
| 2011 | $20K | $23K | $1K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $7K, expenses of $6K, and assets of $1K (revenue -12.8% year-over-year).
- 2017: Revenue of $8K, expenses of $9K, and assets of $730 (revenue +30.0% year-over-year).
- 2016: Revenue of $6K, expenses of $8K, and assets of $3K (revenue -41.7% year-over-year).
- 2015: Revenue of $10K, expenses of $11K, and assets of $5K (revenue -40.7% year-over-year).
- 2014: Revenue of $17K, expenses of $19K, and assets of $5K (revenue -41.2% year-over-year).
- 2013: Revenue of $29K, expenses of $28K, and assets of $8K (revenue -6.2% year-over-year).
- 2012: Revenue of $30K, expenses of $24K, and assets of $8K (revenue +49.9% year-over-year).
- 2011: Revenue of $20K, expenses of $23K, and assets of $1K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rainbow Business & Professional Assoc:
Data Sources and Methodology
This transparency report for Rainbow Business & Professional Assoc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.