Ray Solem Foundation
- Assets
- $1.1m
- Revenue
- $179.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Bellevue, WA
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 75-3208981
Organization Overview
Ray Solem Foundation is located in Bellevue, WA. The organization was established in 2007. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ray Solem 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 Solem Foundation generated $179.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $93.7k during the year ending 12/2023. While expenses have increased by 7.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Ray Solem Foundation has awarded 49 individual grants totaling $547,000. 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
GRANTS WERE ISSUED TO 7 501 (C) (3) ORGANIZATIONS THAT WORK TO FURTHER THE FOUNDATIONS GOAL OF ASSISTING IMMIGRANTS TO THE US WITH EDUCATION AND LEGAL SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marianne Emerson President | 10 | $0 | |
Keith Disselkoen VP And Secretary | 1 | $0 | |
Audrey Russek Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $471 |
| Dividends & Interest | $26,298 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $152,872 |
| Total Revenue | $179,641 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $27,904 |
| Total operating and administrative expenses | $28,699 |
| Contributions, gifts, grants paid | $65,000 |
| Total expenses and disbursements | $93,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,489 |
| Savings and temporary cash investments | $1,103,441 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,118,930 |
| 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 Solem Foundation has awarded $65,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA ASYLUM AND IMMIGRATION NETW PURPOSE: LEGAL AND OTHER AID TO REFUGEES | $10,000 |
ARIZONA LEGAL WOMAN AND YOUTH SERVI PURPOSE: LEGAL AND OTHER AID TO REFUGEES | $10,000 |
RESTORATION IMMIGRATION LEGAL AID PURPOSE: LEGAL AND OTHER AID TO REFUGEES | $10,000 |
EL CENTRO HISPANO PURPOSE: LEGAL AND OTHER AID TO REFUGEES | $10,000 |
COMMUNITY ASYLUM SEEKERS PROJECT PURPOSE: LEGAL AND OTHER AID TO REFUGEES | $10,000 |
CONNECTICUT STUDENTS FOR A DREAM PURPOSE: LEGAL AND OTHER AID TO REFUGEES | $10,000 |