Rain Source Capital Inc

“In april, 2010, the board entered into a management contract with rain source management. This was done to reduce operational expenses and to provide the company with the means to continue its operations. There was no change in mission and rain source management has agreed to continue to operate the company based upon the goals outlined in the management contract.”

“The organization did not have any committees with authority to act on behalf of the board of directors during the year covered by this return.”

“The form 990 was presented the the board prior to filing.”

“The conflict of interest policy covers directors, officers and employees. Each responsible person shall annually complete a disclosure form which shall be submitted to the president. Prior to board action on a contract or transaction involving a conflict of interest, a director who has a conflict of interest and who is in attendance at the meeting shall disclose all facts material to the conflict of interest. Such disclosure shall be reflected in the minutes of the meeting or, at the option of the secretary, in a separate memorandum that is filed with the original minutes of the meeting. A person who has a conflict of interest shall not participate in the board's discussion of the matter except to disclose material facts and to respond to questions. Such person shall not attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting. A person who has a conflict of interest with respect to a contract or transaction that will be voted on at a meeting shall not be counted in determining the presence of a quorum for purposes of the vote. The person having a conflict of interest may not vote on the contract or transaction. Such person's ineligibility to vote shall be reflected in the minutes of the meeting. A contract or transaction involving a conflict of interest may be approved by the board if the material facts as to the contract or transaction and the conflict of interest are fully disclosed or known to the board and the board approves the contract or transaction in good faith by the affirmative vote (without counting the interested director) of a majority of the entire board at a meeting at which there is a quorum present, again without counting the interested director. Responsible persons who are not directors, or who have a conflict of interest with respect to a contract or transaction that is not the subject of board or committee action, shall disclose to the president any conflict of interest that such responsible person has with respect to such contract or transaction. Such disclosure shall be made as soon as the conflict of interest is known to the responsible person. The responsible person shall refrain from any action that may affect the organization's participation in such contract or transaction. The president shall promptly report such conflict of interest to the chair or the chair's designee.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Program service expense: program service expenses 240,878. Management and general expenses 0. Fundraising expenses 0. Total expenses 240,878.”