Rain Taxi Inc
Nonprofit profile at a glance
- EIN
- 411822994
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Minneapolis, MN, USA
- Phone
- 6128251528
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Printing, Publishing
Reported finances
- Revenue
- $237,751
- Expenses
- $261,081
- Assets
- $184,683
- Liabilities
- $6,060
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- ERIC LORBERER (EXECUTIVE DIRECTOR)
Highest reported compensation
- KELLY EVERDING (SECRETARY/OPERATIONS DIREC): $44,000 total reported compensation
- ERIC LORBERER (EXECUTIVE DIRECTOR): $44,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Rain taxi champions aesthetically adventurous literature
What it reported doing in 2024
Rain taxi review of books is a 48-page quarterly with reviews for fiction, nonfiction, poetry, and graphic novels. Between the covers, readers find an average of 50 reviews per issue, in-depth author interviews, provocative essays on literary topics, even more published on our website. Rain taxi devotes space in every issue to new poetry, debut fiction, and many works in translation. Rain taxi is unique in its focus on works published by independent and small press publishing houses, often over-looked by mainstream media. Consequently, many of the writers and writing featured in rain taxi are representative of a diverse, multi-national demographic. Rain taxi reviewers comprise a dedicated pool of talented writers - in the past 25 years we have worked with over 1300 writers. Many are well-known authors or university professors who are actively engaged in the field, while some appear in print for the first time. We provide a significant opportunity for emerging writers to publish a respected international venue.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 92
- Accountability: 73
- Sustainability: 26
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 74.8%; rating input score 75
- Program expense ratio: 68.1%; rating input score 68
- Fundraising efficiency: $3.09 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 77.8%; rating input score 78; 20th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -9.8%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 0.71; rating input score 32; 32nd percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 33.7%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 1.2% per year; rating input score 100; 36th percentile among comparable filings
- Revenue growth: -0.6% per year; rating input score 0; 21st percentile among comparable filings
- Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings
Details
- Where the money goes: 74.8% of revenue deployed · 68.1% of spending went to programs
- Governance: 7 of 9 board members independent · 6 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $178K in reported program spending
- Leadership: top reported pay $44K · 9 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 7 filing years from 2017 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 14/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 23/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
- High — Sustainability: Officer compensation ratio scored 9/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.