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
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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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