Rainwater Charitable Foundation
The Rainwater Charitable Foundation (RCF) is a private family foundation headquartered in Fort Worth, Texas. Established in 1991 by Richard E. Rainwater, the foundation operates as a 501(c)(3) organization with tax-exempt status since September 2014. The foundation employs 16 staff members and maintains an active grantmaking program across multiple focus areas.
Key facts about Rainwater Charitable Foundation
- EIN
- 80-0870036
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $43,565,002
- Grants made (2024)
- 320
- Average grant
- $136,141
- Median grant
- $50,000
- Total assets
- $931,421,595
- Primary geography
- Texas (62% of itemized 2024 grant dollars)
- How to apply
- For Family Economic Security funding, RCF invites funding proposals by invitation only and reviews Letters of Inquiry (LOIs) twice yearly in April and October.
Data from IRS Form 990-PF, 2024; updated August 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Rainwater Charitable Foundation funds
By grant dollars, the top recipient states for Rainwater Charitable Foundation's 320 itemized 2024 grants were Texas (62%), California (10%) and Illinois (6%). The most frequent recipient cities were Fort Worth, TX (113 grants), Dallas, TX (28 grants), San Francisco, CA (22 grants) and New York, NY (21 grants). None of its 320 grants with a stated purpose were described as general or operating support. Recurring purposes include "Medical Research" (106 grants), "Operations Support" (83 grants) and "Program Support - Tarrant County" (8 grants).
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$931.4M
+5.7% YoY
Annual Giving
$43.6M
+14.8% YoY
Grant Count
320
+0.0% YoY
Avg Grant Size
$136K
+14.8% YoY
Under IRS private-foundation payout rules, Rainwater Charitable Foundation reported a distributable amount of $55.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
RCF is dedicated to sustainable solutions across education, family economic security, medical research, and global initiatives. The foundation's original mission centered on supporting children through quality education, based on the belief that education can transform lives and uplift families.
The foundation's current funding priorities include:
Family Economic Security & Education — Supporting nonprofit organizations and education systems that increase academic outcomes, access to affordable housing, and career and economic opportunities for families in North Texas. In 2024, RCF made over 150 grants in these areas.
Medical Research — Following founder Richard E. Rainwater's 2009 diagnosis with Progressive Supranuclear Palsy (PSP), a rare neurodegenerative disease, the foundation created the Tau Consortium to accelerate treatments for tauopathies (a class of neurodegenerative diseases characterized by tau protein abnormalities). The foundation also administers the Rainwater Prize, which recognizes outstanding innovation and breakthrough advances in tauopathy research. In 2024, the Tau Consortium awarded 74 grants.
Global Initiatives — The foundation supports initiatives in East Africa.
RCF's approach is guided by values of innovation, accountability, and collaboration. The foundation seeks programs with measurable success, strong leadership, and the ability to scale for greater impact.
Grantmaking
In 2024, RCF distributed over 150 grants in family economic security and education areas, plus 74 grants through the Tau Consortium medical research program. The foundation has awarded more than $426 million in transformative initiatives since its inception.
Grant Range
s**
How to Apply
**
Ready to take the next step with Rainwater Charitable Foundation?
Geographic Focus
Where this funder awards grants
The majority of family economic security and education funding is directed to the Fort Worth-Dallas metropolitan area and Tarrant County, with some grants to East Texas and national organizations. The foundation also supports initiatives in East Africa and has funding activity in California and New York.
Grant Distribution by State
Share of all 320 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
2024 Financial Data
- Total Revenue: $85,176,764
- Total Expenses: $57,471,998
- Total Assets: $931,421,595
- Total Liabilities: $0
The foundation ranks in the top 1% of U.S. foundations by asset size (Rank #147 of 159,550).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $931,421,595 | $881,075,731 | $854,485,810 |
| Revenue | $85,176,764 | $28,931,463 | $11,956,596 |
| Expenses | $57,471,998 | $52,604,417 | $71,852,530 |
| Qualifying Distributions | $52,832,809 | $49,063,183 | $61,586,928 |
| Net Investment Income | $73,776,555 | $33,683,963 | $44,373,705 |
| Distributable Amount | $55,260,120 | $52,818,009 | $48,646,727 |
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
1,607 grants across all recorded years
Open Grants
6 open opportunities from Rainwater Charitable Foundation
Rainwater Foundation - Family Economic Security Grant
RAINWATER CHARITABLE FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Tauopathy Challenge Workshop Grant
RAINWATER CHARITABLE FOUNDATION
Amount
US $10,000 - US $510,000
Deadline
Rolling / Open
The Rainwater Prize - Breakthrough Prize for Effective Treatments in PSP Grant
RAINWATER CHARITABLE FOUNDATION
Amount
US $2,000,000 - US $10,000,000
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Tarrant to & Through (t3) ($3,539,201 across 4 grants), Life Outreach International ($3,000,000), The Regents of the University of California San Francisco ($2,677,920 across 20 grants).
| Recipient | Purpose | Amount |
|---|---|---|
| TARRANT TO & THROUGH (T3) FORT WORTH, TX | PROGRAM SUPPORT - COLLEGE ADVISING | $3,316,667 |
| LIFE OUTREACH INTERNATIONAL FORT WORTH, TX | OPERATIONS SUPPORT | $3,000,000 |
| CITYSQUARE DALLAS, TX | OPERATIONS SUPPORT | $2,000,000 |
| FORT WORTH COMMUNITY LAND TRUST FORT WORTH, TX | PROGRAM SUPPORT - CARROLL PARK | $2,000,000 |
| ALZHEIMER'S ASSOCIATION CHICAGO, IL | MEDICAL RESEARCH | $1,866,160 |
| NORTH TEXAS COMMUNITY FOUNDATION FORT WORTH, TX | PROGRAM SUPPORT - COURTNEY RAINWATER DAF | $1,612,215 |
| TEXAS WESLEYAN UNIVERSITY FORT WORTH, TX | PROGRAM SUPPORT - LEADERSHIP ACADEMY NETWORK | $888,800 |
| RHODE ISLAND HOSPITAL FOUNDATION PROVIDENCE, RI | MEDICAL RESEARCH | $857,214 |
| TRANSFORMATIVE EDUCATION FOR ADULTS INC LAKEWAY, TX | PROGRAM SUPPORT - NEW HEIGHTS ACADEMY | $600,000 |
| CHRISTIAN RELIEF FUND AMARILLO, TX | OPERATIONS SUPPORT | $500,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Executive Leadership
- Jeremy Smith — President and Executive Director
- Aaron Bigbee — Chief Investment Officer and Investment Manager
- Melissa Parrish — Executive Vice President and Chief Financial Officer
- Susan Montgomery — Vice President, Controller, and Tax Director
- Trent Moen — Investment Director
Board of Trustees
- Walter J. Rainwater Jr. — Trustee
- Richard T. Rainwater — Trustee
- Courtney E. Rainwater — Trustee
- Matthew J. Rainwater — Trustee
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JEREMY SMITH | PRESIDENT AND EXECUTIVE DIRECTOR | 40 | $732,902 |
| AARON BIGBEE | CIO AND INVESTMENT MANAGER | 40 | $656,616 |
| MELISSA PARRISH | EXECUTIVE VP AND CFO | 40 | $557,571 |
| SUSAN MONTGOMERY | VP/ CONTROLLER/ TAX DIRECTOR | 40 | $301,419 |
| WALTER J RAINWATER JR | TRUSTEE | 35 | $219,958 |
| RICHARD T RAINWATER | TRUSTEE | 20 | $144,020 |
| COURTNEY E RAINWATER | TRUSTEE | — | — |
| MATTHEW J RAINWATER | TRUSTEE | 20 | — |
Recent News & Activity
Recent developments and announcements
In February 2026, the Rainwater Charitable Foundation announced the 2026 Rainwater Prize winners, recognizing researchers advancing work in primary tauopathies and neurodegenerative disease.
Posted February 5, 2026 - Rainwater Charitable FoundationIn 2025, the foundation partnered with the Aging Mind Foundation, Alzheimer's Association, and CurePSP to award $2.5 million in neurodegenerative disease research grants through the Tau Consortium.
Fort Worth\u2019s Rainwater Charitable Foundation and Partners Award $2.5M\The foundation's Emerging EdTech Solutions Request for Applications (RFA) is currently open for submissions.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Rainwater Charitable Foundation fund?
RCF is dedicated to sustainable solutions across education, family economic security, medical research, and global initiatives. The foundation's original mission centered on supporting children through quality education, based on the belief that education can transform lives and uplift families. The foundation's current funding priorities include: **Family Economic Security & Education** — Supporting nonprofit organizations and education systems that increase academic outcomes, access to afford…
How do I apply for a grant from Rainwater Charitable Foundation?
**Grant Activity** In 2024, RCF distributed over 150 grants in family economic security and education areas, plus 74 grants through the Tau Consortium medical research program. The foundation has awarded more than $426 million in transformative initiatives since its inception. **Grant Sizes** Typical grant awards range from $320 to $3.3 million, with a median grant size of $50,000. **Active Funding Opportunities** • The Rainwater Prize — Outstanding Innovation in Neurodegenerative Research • Th…
Where does Rainwater Charitable Foundation make grants?
The majority of family economic security and education funding is directed to the Fort Worth-Dallas metropolitan area and Tarrant County, with some grants to East Texas and national organizations. The foundation also supports initiatives in East Africa and has funding activity in California and New York.
What size grants does Rainwater Charitable Foundation award?
In 2024, Rainwater Charitable Foundation awarded 320 grants totaling $43.6M — an average of about $136K per grant, based on its IRS Form 990 filings.
How much is Rainwater Charitable Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Rainwater Charitable Foundation reported a distributable amount of $55.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Rainwater Charitable Foundation's EIN?
Rainwater Charitable Foundation's EIN (Employer Identification Number) is 80-0870036. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Rainwater Charitable Foundation's focus areas in our free grants database
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Data last updated August 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.