Ray Foundation Inc
- Assets
- $0.0
- Revenue
- $11.5m
- Investments
- $71.4m
- Employees
- 0
- Location
- Naples, FL
- Founding
- 11/1963
- Data as of
- 06/2022
- EIN
- 81-0288819
Organization Overview
Ray Foundation Inc is located in Naples, FL. The organization was established in 1963. 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. Ray Foundation Inc 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 06/2022, Ray Foundation Inc generated $11.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $11.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Ray Foundation Inc has awarded 189 individual grants totaling $57,890,185. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles J Ahearn President/director | 40 | $500,000 | |
Jeffery J Tempas Treasurer/director | 24 | $259,166 | |
Patricia J Arthur Secretary/director | 24 | $175,417 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,101,279 |
| Interest on Savings | $197,647 |
| Dividends & Interest | $3,918,017 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,532 |
| Total Revenue | $11,505,599 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,604,166 |
| Pension plans, employee benefits | $0 |
| Depreciation | $232,261 |
| Occupancy | $56,469 |
| Travel, conferences, and meetings | $38,361 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $2,239,489 |
| Contributions, gifts, grants paid | $9,150,800 |
| Total expenses and disbursements | $11,390,289 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $233,037 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,678,997 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ray Foundation Inc has awarded $10,272,244 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
AEROSPACE CENTER FOR EXCELLENCE PURPOSE: ACE'S HIGH OPERATING BUDGET SUPPORT | $50,000 |
AOPA AIR SAFETY FOUNDATION PURPOSE: FLIGHT SCHOLARSHIPS | $1,150,000 |
CIVIL AIR PATROL FOUNDATION PURPOSE: FLIGHT SCHOLARSHIPS FUNDING | $330,000 |
CIVIL AIR PATROL FOUNDATION PURPOSE: UT WING SIMULATOR AND SOFTWARE PURCHASE | $10,555 |
HIGHLANDS ENGINEERING AND AERO TECH PROGRAM PURPOSE: EDUCATION PROGRAM OPERATING SUPPORT | $39,120 |
EAA AVIATION FOUNDATION INC PURPOSE: RESTRICTED GRANT - SCHOLARSHIP SUPPORT | $1,800,000 |