Regional Accelerator & Innovation Network
- Assets
- $402.7k
- Revenue
- $712.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Eugene, OR
- Founding
- 11/2014
- Data as of
- 06/2021
- EIN
- 46-5544340
Organization Overview
Regional Accelerator & Innovation Network, operating under the name Oregon Rain, 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. Oregon Rain 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 06/2021, Oregon Rain generated $712.4k 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 (7.9%) each year. All expenses for the organization totaled $599.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.6%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OREGON RAIN'S MISSION IS TO PARTNER WITH OREGON COMMUNITIES TO CATALYZE 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
REGIONAL ACCELERATOR & INNOVATION NETWORK (RAIN), SERVES ENTREPRENEURS SMALL AND RURAL COMMUNITIES IN OREGON BY PROVIDING SERVICES TO CONNECT THEM WITH THE RESOURCES THEY NEED TO GROW INCLUDING PROGRAMS, MENTORS AND ACCESS TO CAPITAL. RAIN PARTNERS WITH GOVERNMENTS, HIGHER EDUCATION, THE BUSINESS COMMUNITY, AND ENTREPRENEURS TO ADVANCE THE FORMATION AND GROWTH OF STARTUPS REGIONALLY AND BUILD REGIONAL ENTREPRENEURIAL ECOSYSTEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Cummings Executive Di | Officer | 40 | $130,000 |
Austin Ramirez Past Chair | OfficerTrustee | 1 | $0 |
Alicia Leduc Vice Chair | OfficerTrustee | 1 | $0 |
Erin Reynolds President | OfficerTrustee | 1 | $0 |
Josh Carter Secretary | OfficerTrustee | 1 | $0 |
Mario Magana Alvarez Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $556,767 |
| All other contributions, gifts, grants, and similar amounts not included above | $155,657 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $712,424 |
| 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 | $712,424 |
| 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. | $135,833 |
| Compensation of current officers, directors, key employees. | $20,375 |
| 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 | $2,185 |
| Fees for services: Accounting | $8,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $395,733 |
| Advertising and promotion | $1,280 |
| Office expenses | $370 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $971 |
| 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 | $6,248 |
| All other expenses | $1,192 |
| Total functional expenses | $599,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $332,937 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $69,752 |
| 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 | $402,689 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $276,410 |
| Net assets with donor restrictions | $126,279 |
| 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 | $402,689 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Regional Accelerator & Innovation Network has recieved totaling $26,000.
| Awarding Organization | Amount |
|---|---|
Oregon Community Foundation Portland, OR PURPOSE: Economic Development | $26,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Spokane Area Workforce Development Council Spokane, WA | $1,735,015 | $9,993,306 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |