Ray Tye Medical Aid Foundation
- Assets
- $689.5k
- Revenue
- $26.7k
- Investments
- $683.1k
- Employees
- 0
- Location
- Halifax, MA
- Founding
- 02/2002
- Data as of
- 12/2023
- EIN
- 04-6958143
Organization Overview
Ray Tye Medical Aid Foundation is located in Halifax, MA. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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 Tye Medical Aid Foundation 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 12/2023, Ray Tye Medical Aid Foundation generated $26.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $97.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (21.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ray Tye Medical Aid Foundation has awarded 51 individual grants totaling $2,266,318. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FUNDING FOR IN-HOSPITAL LIFE SAVINGS MEDIAL TREATMENT AND SURGERIES FOR THOSE WHO DO NOT HAVE MEDICAL INSURANCE, AND FOR WHICH NO OTHER FINANCIAL RESOURSES ARE AVAILABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri Carlson Vice Preside | 24 | $40,000 | |
Eileen Tye President | 10 | $0 | |
Carol Tye Rose Chairman | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,356 |
| Interest on Savings | $0 |
| Dividends & Interest | $20,114 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,818 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $1,404 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $26,652 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,448 |
| Interest | $0 |
| Taxes | $448 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,339 |
| Total operating and administrative expenses | $61,836 |
| Contributions, gifts, grants paid | $35,162 |
| Total expenses and disbursements | $96,998 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,426 |
| Savings and temporary cash investments | $0 |
| 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 | $683,059 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $689,485 |
| 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, Ray Tye Medical Aid Foundation has awarded $35,162 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL SEATING & MOBILITY INC PURPOSE: MEDICAL SERVICES | $240 |
ROGERSON ORTHOPEDIC PURPOSE: MEDICAL SERVICES | $34,922 |