This Race to the Top - Early Learning Challenge (RTT-ELC) annual performance report for the year 2014 describes Oregon's accomplishments, lessons learned, challenges, and strategies Oregon will implement to address those challenges. The 2014 Annual Performance Report provides an overview of Oregon Race to the Top - Early Learning Challenge Grant (RTT-ELCG) activities for year two of the grant, highlighting continued strides towards building a robust, high quality learning system for Oregon's youngest children: (1) The establishment of Oregon's Early Learning Hubs, community-based and community-owned coordinators of early learning services, creates a strong local infrastructure to accomplish our RTT-ELCG goals; (2) Oregon's Tiered Quality Rating and Improvement System (TQRIS) is creating a defined pathway for quality improvement that is critical for systems transformation. A focus on highly qualified staff, strong educational components, developmentally appropriate environments, and quality family supports is guided by the accepted standards of the TQRIS; (3) The statewide implementation of the kindergarten assessment in all 197 of Oregon's school districts is an important catalyst for establishing a measurable, concrete link between early learning and K-12. These data is used to identify gaps, assist in decisions on how to allocate resources, and monitor statewide progress; (4) The confluence of transformations occurring in Oregon in the areas of health, human services, early learning, and K-12 education has created opportunities for alignment, coordination and shared accountability across systems; and (5) The creation and adoption of the Equity Lens developed by the Oregon Education Investment Board is driving changes in how early learning programs address the myriad needs of diverse children across the state. An intentional focus on equity as both a guiding principle and standard is essential to meeting our early learning system goals and assuring accountability to Oregon's most vulnerable populations. [For "At a Glance: The Race to the Top - Early Learning Challenge Year 2014 Progress Report," see ED583096.]