The Ray And Tye Noorda Foundation
- Assets
- $188.3m
- Revenue
- $42.5m
- Investments
- $183.4m
- Employees
- 0
- Location
- Lindon, UT
- Founding
- 09/2000
- Data as of
- 12/2021
- EIN
- 87-0649164
Organization Overview
The Ray And Tye Noorda Foundation is located in Lindon, UT. The organization was established in 2000. According to its NTEE Classification (T21) the organization is classified as: Corporate 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 And Tye Noorda 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 12/2021, Ray And Tye Noorda Foundation generated $42.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 57.7% each year . All expenses for the organization totaled $38.6m during the year ending 12/2021. While expenses have increased by 4.4% per year over the past 5 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 2016, Ray And Tye Noorda Foundation has awarded 321 individual grants totaling $124,153,930. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Noorda Resigned 123121 Officer | 2 | $6,000 | |
Brent Noorda Trustee | 2 | $6,000 | |
Raye Marie Kriedel Trustee | 2 | $6,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch- 1500 American Blvd | 12/30/21 | $222,710 |
Us Bank | 12/30/21 | $178,479 |
Pershing Advisor Solutions Llc Bny Mellon Co | 12/30/21 | $101,300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $430 |
| Dividends & Interest | $2,961,983 |
| Net Rental Income | $2,360 |
| Net Gain on Sale of Assets | $39,570,703 |
| Capital Gain Net Income | $39,570,703 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,337 |
| Total Revenue | $42,549,813 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,000 |
| Other employee salaries and wages | $274,504 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,947 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $263 |
| Printing and publications | $0 |
| Other expenses | $12,490,282 |
| Total operating and administrative expenses | $12,858,916 |
| Contributions, gifts, grants paid | $25,762,580 |
| Total expenses and disbursements | $38,621,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,935,005 |
| 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 | $35,968,582 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $188,322,162 |
| 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, The Ray And Tye Noorda Foundation has awarded $25,762,580 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
EVADENCE ACTION - DISPENSER FOR SAFE WATER PURPOSE: HUMANITARIAN | $2,000,000 |
LIVING GOODS PURPOSE: HUMANITARIAN | $1,125,000 |
BICYCLE COLLECTIVE PURPOSE: HUMANITARIAN | $1,075,000 |
MUSO PURPOSE: HUMANITARIAN | $1,050,000 |
EDUCATE GIRLS PURPOSE: HUMANITARIAN | $1,000,000 |
New York, NY PURPOSE: HUMANITARIAN | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Ray And Tye Noorda Foundation has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
Hurst Wood Education Foundation Inc St George, UT PURPOSE: GENERAL | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charter Fund Inc Broomfield, CO | $606,047,129 | $251,921,544 |
Anschutz Foundation Denver, CO | $0 | $131,519,142 |
Community Finance Corporation Tucson, AZ | $0 | $59,653,037 |
The Ray And Tye Noorda Foundation Lindon, UT | $188,322,162 | $42,549,813 |
Colorado Trust Denver, CO | $0 | $33,250,092 |
Bohemian Foundation Fort Collins, CO | $90,098,504 | $41,050,944 |
Micron Technology Foundation Inc Boise, ID | $125,043,825 | $15,658,941 |
Liana Foundation Inc Jackson, WY | $99,821,769 | $1,410,375 |
Mufg Union Bank Foundation Ag Phoenix, AZ | $2,989,069 | $8,302,055 |
The Caesars Foundation Las Vegas, NV | $826,760 | $3,036,101 |
Con Alma Health Foundation Santa Fe, NM | $33,283,264 | $4,439,981 |
Gardner Grout Foundation Reno, NV | $45,159,236 | $3,628,309 |