Rains Foundation
- Assets
- $63.6k
- Revenue
- $34.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Cookeville, TN
- Founding
- 01/2006
- Data as of
- 05/2022
- EIN
- 20-1446832
Organization Overview
Rains Foundation is located in Cookeville, TN. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rains Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Rains Foundation generated $34.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $17.7k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (15.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF TENNESSEE TECH UNIVERSITY FOUNDATION IN SCHOLARSHIP ENDOWMENT FUND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Cravens President | 0 | $0 | |
Emily Rains Secretary | 0 | $0 | |
Tyler Atkinson Director | 0 | $0 | |
Matt Curtis Director | 0 | $0 | |
Danny Crooks Director | 0 | $0 | |
Ottis Phillips Ex-Officio Memb | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $33,946 |
| Interest on Savings | $20 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $33,966 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,790 |
| Total operating and administrative expenses | $17,706 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $17,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,226 |
| Savings and temporary cash investments | $39,404 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $63,630 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Rains Foundation has awarded $23,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CHRISTEN ADAMS PURPOSE: SCHOLARSHIP | $2,000 |
ALEXIS WALKER PURPOSE: SCHOLARSHIP | $500 |
KAYLIN BYERS PURPOSE: SCHOLARSHIP | $500 |
ABBI BUCK PURPOSE: SCHOLARSHIP | $1,000 |
ELIZABETH NORRIS PURPOSE: SCHOLARSHIP | $500 |
MACKENZIE MANIS PURPOSE: SCHOLARSHIP | $500 |