Regional Accelerator & Innovation Network
- Assets
- $836.1k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Eugene, OR
- Founding
- 11/2014
- Data as of
- 06/2022
- EIN
- 46-5544340
Organization Overview
Regional Accelerator & Innovation Network, operating under the name Rain Catalysts, is located in Eugene, OR. The organization was established in 2014. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rain Catalysts 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 06/2022, Rain Catalysts generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 1.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RAIN'S MISSION IS TO PARTNER WITH COMMUNITIES TO CATALYZE INCLUSIVE ENTREPRENEURIAL ECOSYSTEMS, CONNECT ENTREPRENEURS TO RESOURCES-INCLUDING OVERLOOKED ENTREPRENEURS-AND CONTRIBUTE TO THE CREATION OF PROSPEROUS ECONOMIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAIN SERVES COMMUNITIES THROUGHOUT OREGON, WASHINGTON AND ABROAD TO HELP THEM BUILD INCLUSIVE ENTREPRENEURIAL ECOSYSTEMS AND INNOVATION ECONOMIES. RAIN'S COMMUNITY-INFORMED APPROACH IS INVESTIGATIVE, NOT PRESCRIPTIVE - WHICH MEANS RAIN JOINS-IN TO EXISTING COMMUNITY ACTIVITIES/CONVERSATIONS, ENGAGES LOCAL STAKEHOLDERS, LISTENS, MAPS ECOSYSTEM ASSETS, IDENTIFIES AND LEVERAGES STRENGTHS, IDENTIFIES GAPS, AND SPINS-UP PROGRAMMING THAT MEETS THE NEEDS OF THAT COMMUNITY'S ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Cummings CEO | Officer | 40 | $142,833 |
Erin Reynolds President | OfficerTrustee | 1 | $0 |
Alicia Leduc Montgomery Treasurer | OfficerTrustee | 1 | $0 |
Katrina Hull Secretary | OfficerTrustee | 1 | $0 |
Juan Barraza Director | Trustee | 1 | $0 |
Adenola Osinubi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,303,645 |
| All other contributions, gifts, grants, and similar amounts not included above | $236,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,539,645 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,539,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $147,600 |
| Compensation of current officers, directors, key employees. | $14,760 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,843 |
| Fees for services: Accounting | $17,563 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $797,543 |
| Advertising and promotion | $3,317 |
| Office expenses | $3,617 |
| Information technology | $80,230 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,939 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,454 |
| All other expenses | $217 |
| Total functional expenses | $1,097,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $290,105 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $545,988 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $836,093 |
| Accounts payable and accrued expenses | $19,726 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,726 |
| Net assets without donor restrictions | $204,339 |
| Net assets with donor restrictions | $612,028 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $836,093 |