Rainwater Charitable Foundation
- Assets
- $856.9m
- Revenue
- $46.3m
- Investments
- $747.0m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 80-0870036
Organization Overview
Rainwater Charitable Foundation is located in Fort Worth, TX. The organization was established in 2014. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainwater Charitable Foundation 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 12/2021, Rainwater Charitable Foundation generated $46.3m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $67.0m during the year ending 12/2021. While expenses have increased by 12.5% per year over the past 2 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.
Since 2020, Rainwater Charitable Foundation has awarded 991 individual grants totaling $155,523,637. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
FAMILY AND EDUCATION - THE RCF FAMILY ECONOMIC SECURITY & EDUCATION TEAM SUPPORTS OVER 200 SCHOOLS AND NON-PROFIT ORGANIZATIONS PREDOMINANTLY IN THE AREA OF EARLY CHILDHOOD EDUCATION, PARENT EDUCATION, FAMILY ECONOMIC SECURITY, COLLECTIVE IMPACT, COLLEGE AND CAREER READINESS, NEW SCHOOL CREATION AND SCHOOL TRANSFORMATION. THE MAJORITY OF FAMILY ECONOMIC SECURITY & EDUCATION FUNDING GOES TO THE FORT WORTH-DALLAS METROPOLITAN AREA WITH A FEW GRANTS GOING TO NATIONAL ORGANIZATIONS.
MEDICAL RESEARCH - THE RCF MEDICAL RESEARCH TEAM PRIMARILY SUPPORTS THE TAU CONSORTIUM. THE MISSION OF THE TAU CONSORTIUM IS TO LEVERAGE THE BRIGHTEST MINDS IN ACADEMIA TO UNDERSTAND THE CAUSES OF A CLASS OF NEURODEGENERATIVE DISEASES CALLED TAUOPATHIES. THE PROGRAM INCLUDES OVERSIGHT AND MANAGEMENT OF ANNUAL TAU CONSORTIUM GIVING WHICH CONSISTS OF OVER 100 GRANTS IN 2022. IN 2022 THE CONSORTIUM HELD A SUMMER GATHERING WHERE RESEARCHERS PRESENTED THE FINDINGS OF THEIR RESEARCH AND COLLABORATED ON FUTURE WORK, AND A DRUG DISCOVERY WORKSHOP. ALSO IN 2022 RCF ENGAGED A CONSULTANT TO ASSIST THE TEAM IN UNDERSTANDING THE LANDSCAPE OF PRIMARY TAUOPATHY-SPECIFIC DISEASE BIOMARKERS TO GUIDE FUTURE PROGRAM CONTRIBUTION DECISIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Smith President & Executive Director | 40 | $633,446 | |
Melissa Parrish Executive VP And CFO | 40 | $486,186 | |
Randolph Kim Cio And Investment Manager | 40 | $916,289 | |
Susan E Montgomery Vp/ Controller/ Tax Director | 40 | $280,088 | |
Walter J Rainwater Jr Trustee | 35 | $196,079 | |
Courtney E Rainwater Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lek Consulting | 12/30/22 | $800,000 |
Organizational Services Inc | 12/30/22 | $528,816 |
Northern Trust | 12/30/22 | $209,542 |
Drug Discovery & Development Consultants Ltd | 12/30/22 | $135,563 |
Deloitte & Touche Llp | 12/30/22 | $90,220 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,008,755 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,710,485 |
| Capital Gain Net Income | $25,710,485 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $18,546,109 |
| Total Revenue | $46,265,349 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,959,234 |
| Other employee salaries and wages | $3,410,069 |
| Pension plans, employee benefits | $47,407 |
| Interest | $1,543,405 |
| Taxes | $1,304,459 |
| Depreciation | $76,832 |
| Occupancy | $387,492 |
| Travel, conferences, and meetings | $318,277 |
| Printing and publications | $77,262 |
| Other expenses | $429,118 |
| Total operating and administrative expenses | $12,369,023 |
| Contributions, gifts, grants paid | $54,584,013 |
| Total expenses and disbursements | $66,953,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,264 |
| Savings and temporary cash investments | $107,836,160 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $660,451,600 |
| Net Land, buildings, and equipment | $225,741 |
| Other assets | $1,643,306 |
| Total assets | $856,887,520 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Rainwater Charitable Foundation has awarded $56,770,243 in support to 400 organizations.
| Grant Recipient | Amount |
|---|---|
ACH CHILD AND FAMILY SERVICES PURPOSE: ACADEMIC ENRICHMENT PROGRAM WEDGWOOD CAMPUS | $61,000 |
AB CHRISTIAN LEARNING CENTER PURPOSE: FREEDOM SCHOOL SUMMER READING PROGRAM | $100,000 |
ACADEMY FOR URBAN SCHOOL LEADERSHIP PURPOSE: FWISD LEADERSHIP ACADEMY SY23 IMPLEMENTATION | $300,000 |
ADFW FAMILY CHILD CARE NETWORK PURPOSE: GENERAL OPERATIONS | $7,000 |
AFTD PURPOSE: 2022 - "WITH LOVE" CAMPAIGN | $10,000 |
ADVANCEMENT THROUGH OPPORTUNITY & KNOWLEDGE DBA CHILDREN YOUTH AND FAMILY C PURPOSE: GENERAL OPERATIONS | $5,000 |