Drake Ray & Ruth Schol Fund OAG #05-368
The Drake Ray & Ruth Schol Fund OAG #05-368 is a private foundation based in Columbus, Ohio. Its 2025 filing reports grants for scholarships to students pursuing formal post-high-school education.
Drake Ray & Ruth Schol Fund OAG #05-368 at a glance
In short: Drake Ray & Ruth Schol Fund OAG #05-368 gave $13K across 11 grants in 2025 (avg $1K), mostly in Ohio. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $13,000
- -13.3% vs 2024
- Grants made (2025)
- 11
- +37.5% vs 2024
- Average grant
- $1,182
- -37.0% vs 2024
- Median grant
- $1,000
- Total assets
- $305,619
- +9.5% vs 2024
- Primary geography
- Ohio (69% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to Drake Ray & Ruth Schol Fund OAG #05-368
- How to Apply
-
The filing directs applicants to contact the Eastwood High School principal and submit a paper application. Applicants must have maintained a 3.0 grade point average and be pursuing formal post-high-school education.
- Review Cycle
- April 15 yearly. The April 15, 2026 deadline has passed.
- Deadline
- April 15 yearly.
- Contact
Application contact: Eastwood High School Principal
Mailing address: 4900 Sugar Ridge Road, Pemberville, OH 43450
Phone: (419) 833-3611
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Drake Ray & Ruth Schol Fund OAG #05-368 funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Ashland University ($2K). Together the top 10 received $10K.
Organizations only. It also paid 1 individual scholarship ($3,500), which are not listed by name.
Grant Size Distribution
29 grants across all recorded years
The most common grant size was under $50K: 29 grants of 29 (100%).
Geographic Focus
Where this funder awards grants
In 2025, 69% of grant dollars went to recipients in Ohio, 27% to Kentucky, and 4% to Indiana.
Grant Distribution by State
Share of 2025 grant dollars across all 11 itemized grants.
Cities
How Drake Ray & Ruth Schol Fund OAG #05-368 gives
- In 2025 it paid out 86% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2023 to 2025, annual grant giving ranged from $13K (2023) to $15K (2024). In 2025 it made 11 grants totaling $13K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 1 individual scholarship Recipients not named | — | $3,500 |
| Ashland University Ashland, OH | Scholarships | $2,000 |
| Owens Community College Perrysburg, OH | Scholarships | $1,000 |
| Ohio Wesleyan University Delaware, OH | Scholarships | $1,000 |
| University of Cincinnati Columbus, OH | Scholarships | $1,000 |
| Ohio State University Columbus, OH | Scholarships | $1,000 |
| Ohio University Athens, OH | Scholarships | $1,000 |
| University of Toledo Toledo, OH | Scholarships | $1,000 |
| Kent State University Kent, OH | Scholarships | $500 |
| Heidelberg University Tiffin, OH | Scholarships | $500 |
Ready to take the next step with Drake Ray & Ruth Schol Fund OAG #05-368?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $305,619 | $49,505 | $21,431 | $13,000 | 11 | $17,867 | $46,293 | $20,882 |
| 2024 | $279,038 | $21,608 | $22,966 | $15,000 | 8 | $19,603 | $18,338 | $20,444 |
| 2023 | $277,846 | $20,228 | $21,083 | $13,000 | 10 | $17,580 | $17,421 | $18,284 |
Under IRS private-foundation payout rules, Drake Ray & Ruth Schol Fund OAG #05-368 reported a distributable amount of $21K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants were designated for scholarships and went to colleges and universities. Among the grantees, Ashland University describes its mission as providing a transformative learning experience guided by its Christian heritage; Heidelberg University describes a liberal-arts-rooted education with services to students and a values-centered philosophy. These are the grantees’ descriptions, not the foundation’s.
Grantmaking
In 2025, the foundation gave $13,000 across 11 grants. Grants ranged from $500 to $3,500, with a median of $1,000. The largest awards included $3,500 to an individual recipient State University and $2,000 to Ashland University, both for scholarships. It also gave $1,000 each to Owens Community College, Ohio Wesleyan University, the University of Cincinnati, Ohio State University, Ohio University, and the University of Toledo; and $500 each to Kent State University, Heidelberg University, and Purdue University.
Leadership & Key People
Leadership team and compensation from IRS filings
Huntington National Bank is listed as trustee on the 2025 filing.
Drake Ray & Ruth Schol Fund OAG #05-368's only listed officer is Huntington National Bank, Trustee on every filing since 2023 (compensated).
Officers on the 2025 filing
Huntington National Bank
Trustee
On filings since 2023
1 hr/week
$5K (2023) → $6K (2025)
Data from IRS Form 990 filings, 2023–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $6K, to Huntington National Bank (Trustee).
Frequently asked questions about Drake Ray & Ruth Schol Fund OAG #05-368
How much does Drake Ray & Ruth Schol Fund OAG #05-368 give each year?
Drake Ray & Ruth Schol Fund OAG #05-368 gave $13K across 11 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $15K across 8 grants.
What is Drake Ray & Ruth Schol Fund OAG #05-368's typical grant size?
Drake Ray & Ruth Schol Fund OAG #05-368's median grant in 2025 was $1,000, and its average grant was $1,182, across 11 grants on its 2025 IRS Form 990-PF.
Where does Drake Ray & Ruth Schol Fund OAG #05-368 give grants?
Drake Ray & Ruth Schol Fund OAG #05-368 gives mostly in Ohio: 69% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Kentucky (27%). The most frequent recipient cities were Columbus, OH (2 grants).
Does Drake Ray & Ruth Schol Fund OAG #05-368 give general operating support?
Not in 2025: none of the 11 grants with a stated purpose on Drake Ray & Ruth Schol Fund OAG #05-368's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (11 grants).
Who are Drake Ray & Ruth Schol Fund OAG #05-368's largest grantees?
Drake Ray & Ruth Schol Fund OAG #05-368's largest 2025 grantees include Ashland University ($2,000), Owens Community College ($1,000) and Ohio Wesleyan University ($1,000), according to its 2025 IRS Form 990-PF. It also paid 1 individual scholarship ($3,500), which are not listed by name. Together they received 31% of its itemized 2025 grant dollars.
How large is Drake Ray & Ruth Schol Fund OAG #05-368?
Drake Ray & Ruth Schol Fund OAG #05-368 reported $306K in total assets on its 2025 IRS Form 990-PF. It paid out $18K in qualifying distributions that year, against a required minimum of $21K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Drake Ray & Ruth Schol Fund OAG #05-368 fund?
No mission statement for the foundation is provided. Its 2025 grants were designated for scholarships and went to colleges and universities. See mission & focus areas ↑
How do I apply for a grant from Drake Ray & Ruth Schol Fund OAG #05-368?
The filing directs applicants to contact the Eastwood High School principal and submit a paper application. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Drake Ray & Ruth Schol Fund OAG #05-368's EIN?
Drake Ray & Ruth Schol Fund OAG #05-368's EIN (Employer Identification Number) is 90-0246585. IRS Form 990 filing data is available on this page for 2023–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(4)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2023 (received by the IRS October 25, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 7, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 5, 2026)
- IRS filings on file for fiscal years 2023–2024
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