The Indian Paintbrush Foundation is a private foundation established in 1994 (IRS ruling 1995) and based in Washington, DC. Founded and funded by billionaire Steven M. Rales, co-founder of Danaher Corporation, the foundation operates as a non-operating foundation that makes grants exclusively to preselected organizations. The foundation also operates under several alternative names including Rock Creek Foundation, Sartori Foundation, and Blue Dot Foundation.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.9B
-8.0% YoY
Annual Giving
$102.9M
-5.2% YoY
Grant Count
19
-5.0% YoY
Avg Grant Size
$5.4M
-0.2% YoY
Under IRS private-foundation payout rules, Indian Paintbrush Foundation reported a distributable amount of $102.0M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports education, healthcare, medical research, housing, and economic development. Historically, it has focused on universities, hospitals, and medical research organizations. The foundation's primary operating area is education.
Grantmaking
The foundation does not accept unsolicited applications. All grants are made through trustee discretion to preselected organizations only. The foundation operates on an invite-only basis with no formal grant programs or defined application cycles.
Grant Range
$100,000 - $10,000,000 (estimated based on known grants)
Average Grant
$4.5 million
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation has a national geographic focus with historical emphasis on California, New York, and Maryland. Funding is distributed across multiple states including Maine, Tennessee, Pennsylvania, Indiana, and Massachusetts.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- 2024: $1.9 billion
- 2023: $2.1 billion
- 2022: $2.2 billion
- 2011: $6.4 million
Annual Giving:
- 2024: $102.9 million
- 2023: $108.6 million
- 2022: $80 million
- 2020: $6.4 million
Annual Income:
- 2023: $201.7 million
Giving Rate: Approximately 5.1% of assets (2023)
Tax Status: Tax-exempt since May 1995; contributions are tax-deductible. The foundation is required to file IRS Form 990-PF.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,942,801,649 | $2,111,626,309 | $2,200,768,640 |
| Revenue | $194,689,431 | $-7,555,983 | $12,532,711 |
| Expenses | $114,831,748 | $121,802,197 | $84,865,214 |
| Qualifying Distributions | $103,079,686 | $108,743,529 | $80,812,950 |
| Net Investment Income | $194,211,846 | $10,195,514 | $8,902,371 |
| Distributable Amount | $102,035,814 | $102,251,611 | $108,170,330 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
77 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Depauw University ($46,000,000), Foundation to Combat Anti-semitism Inc ($37,500,000), University of California Santa Barbara ($5,000,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ALI FORNEY CENTER NEW YORK, NY | GENERAL SUPPORT | $200,000 |
| ANIMAL ADOPTION CENTER INC JACKSON, WY | GENERAL SUPPORT | $50,000 |
| COLLEGE YEAR IN ATHENS INC CAMBRIDGE, MA | EDUCATIONAL SUPPORT | $2,800,000 |
| COMMUNITY FOUNDATION OF JACKSON HOLE JACKSON, WY | GENERAL SUPPORT | $2,500,000 |
| CROHNS AND COLITIS FOUNDATION INC NEW YORK, NY | GENERAL SUPPORT | $500,000 |
| DEPAUW UNIVERSITY GREENCASTLE, IN | EDUCATIONAL SUPPORT | $46,000,000 |
| FOUNDATION TO COMBAT ANTI-SEMITISM INC FOXBOROUGH, MA | GENERAL SUPPORT | $37,500,000 |
| MENTAL HEALTH AND RECOVERY SERVICES OF JACKSON HOLE JACKSON, WY | GENERAL SUPPORT | $25,000 |
| MOUNT DESERT 365 NORTHEAST HARBOR, ME | GENERAL SUPPORT | $25,000 |
| NEW AVENUES FOR YOUTH INC PORTLAND, OR | GENERAL SUPPORT | $100,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Steven M. Rales — Chairman/Director/President (Founder)
- Joseph O. Bunting III — Vice President; Principal Officer
- Teresa L. C. Baldwin — Secretary/Treasurer
The foundation is governed by 4 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| STEVEN M RALES | CHAIRMAN/DIRECTOR/PRESIDENT | 1 | — |
| JOSEPH O BUNTING III | VICE PRESIDENT | 5 | — |
| TERESA L C BALDWIN | SECRETARY/TREASURER | 2 | — |
| QUEENIE H CHUNG | VICE PRESIDENT | 5 | — |
Contact Information
Address: 2200 Penn Ave NW, Suite 800W, Washington, DC 20037
Phone: (202) 419-7606 or (202) 828-0850
Email: Not publicly listed
Website: None
The foundation maintains minimal public-facing infrastructure and does not operate a public website.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Indian Paintbrush Foundation fund?
The foundation supports education, healthcare, medical research, housing, and economic development. Historically, it has focused on universities, hospitals, and medical research organizations. The foundation's primary operating area is education.
How do I apply for a grant from Indian Paintbrush Foundation?
**Grant Characteristics:** • Grant range: $100,000 - $10,000,000 (estimated based on known grants) • Median grant size: $87,500 - $325,000 • Average grant size: $4.5 million • Individual grants have ranged from $3,000 to $60 million **Application Process:** The foundation does not accept unsolicited applications. All grants are made through trustee discretion to preselected organizations only. The foundation operates on an invite-only basis with no formal grant programs or defined application c…
Where does Indian Paintbrush Foundation make grants?
The foundation has a national geographic focus with historical emphasis on California, New York, and Maryland. Funding is distributed across multiple states including Maine, Tennessee, Pennsylvania, Indiana, and Massachusetts.
What size grants does Indian Paintbrush Foundation award?
In 2024, Indian Paintbrush Foundation awarded 19 grants totaling $102.9M — an average of about $5.4M per grant, based on its IRS Form 990 filings.
How much is Indian Paintbrush Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Indian Paintbrush Foundation reported a distributable amount of $102.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Indian Paintbrush Foundation's EIN?
Indian Paintbrush Foundation's EIN (Employer Identification Number) is 54-1739160. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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