Irving S Ray & Ada H Ray Memorial Fund
- Assets
- $437.5k
- Revenue
- $51.0k
- Investments
- $378.3k
- Employees
- 0
- Location
- Portland, ME
- Founding
- 01/1979
- Data as of
- 12/2021
- EIN
- 01-6059686
Organization Overview
Irving S Ray & Ada H Ray Memorial Fund is located in Portland, ME. The organization was established in 1979. 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. Irving S Ray & Ada H Ray Memorial Fund 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, Irving S Ray & Ada H Ray Memorial Fund generated $51.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $44.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Irving S Ray & Ada H Ray Memorial Fund has awarded 20 individual grants totaling $130,443. 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 |
|---|---|---|---|
Hm Payson Co Trustee | 1 | $2,593 | |
Michael R Currie Trustee | 1 | $0 | |
Joel Harris Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $12,405 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $38,629 |
| Capital Gain Net Income | $38,629 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $51,034 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,593 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $425 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,780 |
| Total operating and administrative expenses | $11,498 |
| Contributions, gifts, grants paid | $32,639 |
| Total expenses and disbursements | $44,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387 |
| Savings and temporary cash investments | $58,732 |
| 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 | $37,610 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $437,458 |
| 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, Irving S Ray & Ada H Ray Memorial Fund has awarded $32,639 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF GOULDSBORO PURPOSE: FINANCIAL SUPPORT | $16,319 |
NORTHERN LIGHT MAINE COAST HOSPITAL PURPOSE: FINANCIAL SUPPORT | $5,340 |
SHRINERS HOSPITALS FOR CHILDREN PURPOSE: FINANCIAL SUPPORT | $5,340 |
Bar Harbor, ME PURPOSE: FINANCIAL SUPPORT | $5,340 |
PROSPECT HARBOR METHODIST CHURCH PURPOSE: FINANCIAL SUPPORT | $300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Birchtree Center Portsmouth, NH | $2,377,101 | $5,561,187 |
The Bill And Joan Alfond Foundation Portland, ME | $33,512,660 | $6,141,856 |
Friends Of Notre-Dame De Paris Inc Etna, NH | $24,880,670 | $12,372,128 |
Sam L Cohen Foundation Portland, ME | $30,483,258 | $3,967,796 |
Huber Foundation Falmouth, ME | $75,719,525 | $3,696,908 |
Albert B Glickman Family Foundation Portland, ME | $24,527,916 | $3,353,968 |
Emily Landecker Foundation Hanover, NH | $38,846,417 | $4,476,586 |
Opportunity Networks Inc Amherst, NH | $2,792,676 | $4,076,100 |
The Bob Crewe Foundation Cumberland Foreside, ME | $17,458,318 | $1,381,520 |
Roxanne Quimby Foundation Inc Portland, ME | $37,980,106 | $2,835,642 |
Frank M & Olive E Gilman Foundation Inc Enfield, NH | $33,453,249 | $3,949,381 |
Jackson Hole Ranch Conservancy Foundation Exeter, NH | $0 | $1,922,389 |