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 represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (55.6%) each year. All expenses for the organization totaled $67.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Rainwater Charitable Foundation has awarded 591 individual grants totaling $98,753,394. 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:
K-12 EDUCATION - THE RCF 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 EDUCATION FUNDING GOES TO THE FORT WORTH-DALLAS METROPOLITAN AREA WITH A FEW GRANTS GOING TO NATIONAL ORGANIZATIONS. THE RCF EDUCATION TEAM'S DIRECT ACTIVITIES INCLUDE PROVIDING LEADERSHIP AND PROFESSIONAL DEVELOPMENT TRAINING FOR TEACHERS, NON-PROFIT AND SCHOOL LEADERS.
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 ON NEURODEGENERATIVE DISEASES CALLED TAUOPATHIES. IN 2021 THE CONSORTIUM HELD TWO VIRTUAL GATHERINGS AND SPONSORED A THIRD WHERE RESEARCHERS FROM AROUND THE WORLD PRESENTED THE FINDINGS OF THEIR RESEARCH AND COLLABORATED ON FUTURE WORK. THE PROGRAM INCLUDES OVERSIGHT AND MANAGEMENT OF ANNUAL TAU CONSORTIUM GIVING WHICH CONSISTS OF OVER 60 GRANTS IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randolph Kim Cio And Investment Manager | 40 | $865,146 | |
Jeremy Smith President & Executive Director | 40 | $621,811 | |
Aaron Bigbee Deputy Cio | 40 | $559,563 | |
Melissa Parrish Executive VP And CFO | 40 | $495,875 | |
Leticia M Toledo-Sherman Senior Director | 40 | $290,005 | |
Susan E Montgomery Vp/ Controller/ Tax Director | 40 | $260,915 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Organizational Services Inc | 12/30/21 | $340,726 |
Daniel J Edelman Inc | 12/30/21 | $117,715 |
Bourland Wall & Wenzel | 12/30/21 | $102,129 |
3d Consultants | 12/30/21 | $131,006 |
Deloitte Tax Llc | 12/30/21 | $157,028 |
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 $55,761,069 in support to 341 organizations.
| Grant Recipient | Amount |
|---|---|
Fort Worth, TX PURPOSE: T3 | $2,452,312 |
TARRANT TO & THROUGH (T3) PURPOSE: SUPPORTING T3 GENERAL OPERATIONS FOR FY23 | $2,452,312 |
REGENTS OF THE UNIVERSITY OF MINNESOTA PURPOSE: COVID-19 RESEARCH | $1,293,201 |
Dallas, TX PURPOSE: GENERAL OPERATIONS WITH THE AIM OF CLOSING THE OPPORTUNITY GAP FOR MARGINALIZED YOUTH | $1,000,000 |
EAST TEXAS VETERANS COMMUNITY COUNCIL PURPOSE: OPENING A SPENDABLE ENDOWMENT FUND WITH THE EAST TEXAS COMMUNITIES FOUNDATION ($500,000), AND TO PAY DOWN DEBT ($500,000). | $1,000,000 |
Fort Worth, TX PURPOSE: THE SMALL BUSINESS PROGRAM AND FUND AND THE CREATION OF AN ECONOMIC MOBILITY HUB | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |