Irving S Ray & Ada H Ray Memorial Fund

Foundation · Grantmaker Portland, ME EIN: 01-6059686

Irving S Ray & Ada H Ray Memorial Fund is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Portland, ME. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $391K in total assets. In 2025, it awarded 5 grants totaling $40K. Net investment income was $31K.

Key facts about Irving S Ray & Ada H Ray Memorial Fund

In short: Irving S Ray & Ada H Ray Memorial Fund gave $40K across 5 grants in 2025 (avg $8K), mostly in Maine. Source: 2025 IRS Form 990-PF.

EIN
01-6059686
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$39,725
Grants made (2025)
5
Average grant
$7,945
Median grant
$6,521
Total assets
$391,241
Primary geography
Maine (84% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$391K

-3.1% YoY

Annual Giving

$40K

+11.1% YoY

Grant Count

5

+0.0% YoY

Avg Grant Size

$8K

+11.1% YoY

Under IRS private-foundation payout rules, Irving S Ray & Ada H Ray Memorial Fund reported a distributable amount of $43K for 2025 — the minimum it must pay out in qualifying distributions.

How Irving S Ray & Ada H Ray Memorial Fund gives

  • Giving held roughly steady from 2022 to 2025 (+2%). Method
  • In 2025 it paid out 100% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

3states

Share of all 5 itemized 2025 grant dollars.

Cities

Prospect HarborBar HarborBangorAtlantaTampaEllsworth

Giving Over Time

Total grant dollars and number of grants per year

$0$10K$20K$30K$40K5 grants20205 grants20215 grants20225 grants20235 grants20245 grants2025

Grant Insights

How this funder distributes its grants

Top Recipients

Top 5 recipients in 2025

Town of Gouldsboro: $20KTown of Gouldsboro$20KNorthern Light Maine Coast Hospital: $7KNorthern Light Maine CoastHospital$7KMount Desert Island Hospital: $7KMount Desert Island Hospital$7KShriners Hospitals for Children: $7KShriners Hospitals forChildren$7KProspect Harbor Methodist Church: $300Prospect Harbor MethodistChurch$300

Grant Size Distribution

25 grants across all recorded years

25<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
TOWN OF GOULDSBORO Prospect Harbor, MEFINANCIAL SUPPORT$19,862
NORTHERN LIGHT MAINE COAST HOSPITAL Bangor, MEFINANCIAL SUPPORT$6,521
MOUNT DESERT ISLAND HOSPITAL Bar Harbor, MEFINANCIAL SUPPORT$6,521
SHRINERS HOSPITALS FOR CHILDREN Atlanta, GAFINANCIAL SUPPORT$6,521
PROSPECT HARBOR METHODIST CHURCH Prospect Harbor, MEFINANCIAL SUPPORT$300

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K$80K202020212022202320242025
Metric202520242023
Total Assets$391,241$403,837$395,620
Revenue$40,150$55,619$26,996
Expenses$52,959$47,480$45,963
Qualifying Distributions$42,954$35,959$35,753
Net Investment Income$31,149$44,291$16,185
Distributable Amount$42,846$39,925$36,157

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 3, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 2, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
  6. Updated Form 990-PF for fiscal year 2025 (received by the IRS May 5, 2026)
  7. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 3, 2021)
  8. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
  9. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
  10. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 2, 2024)
  11. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
  12. Added Form 990-PF for fiscal year 2025 (received by the IRS May 5, 2026)

Leadership & Key People

Officers and directors from IRS filings

Irving S Ray & Ada H Ray Memorial Fund's 2025 filing lists 3 officers; 1 of 3 officers listed in 2025 is compensated.

Officers on the 2025 filing

  • Hm Payson Co

    Trustee

    On filings since 2020

    1 hr/week

    $2K (2020) → $11K (2025)

  • David R Hines

    Trustee

    On filings since 2024

    1 hr/week

    No compensation reported

  • John S Beliveau

    Trustee

    On filings since 2024

    1 hr/week

    No compensation reported

Former officers (2)
  • Former: Joel Harris (2020–2023) — Trustee
  • Former: Michael R. Currie (2020–2023) — Trustee

Data from IRS Form 990 filings, 2020–2025. "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

HM Payson CO — Trustee: $11KHM Payson COTrustee$11K

Frequently asked questions about Irving S Ray & Ada H Ray Memorial Fund

How much does Irving S Ray & Ada H Ray Memorial Fund give each year?

Irving S Ray & Ada H Ray Memorial Fund gave $40K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $36K across 5 grants.

What is Irving S Ray & Ada H Ray Memorial Fund's typical grant size?

Irving S Ray & Ada H Ray Memorial Fund's median grant in 2025 was $6,521, and its average grant was $7,945, across 5 grants on its 2025 IRS Form 990-PF.

Where does Irving S Ray & Ada H Ray Memorial Fund give grants?

Irving S Ray & Ada H Ray Memorial Fund gives mostly in Maine: 84% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Georgia (16%). The most frequent recipient cities were Prospect Harbor, ME (2 grants).

Does Irving S Ray & Ada H Ray Memorial Fund give general operating support?

Not in 2025: none of the 5 grants with a stated purpose on Irving S Ray & Ada H Ray Memorial Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Financial Support" (5 grants).

Who are Irving S Ray & Ada H Ray Memorial Fund's largest grantees?

Irving S Ray & Ada H Ray Memorial Fund's largest 2025 grantees include Town of Gouldsboro ($19,862), Northern Light Maine Coast Hospital ($6,521) and Mount Desert Island Hospital ($6,521), according to its 2025 IRS Form 990-PF. Together they received 83% of its itemized 2025 grant dollars.

How large is Irving S Ray & Ada H Ray Memorial Fund?

Irving S Ray & Ada H Ray Memorial Fund reported $391K in total assets on its 2025 IRS Form 990-PF. It paid out $43K in qualifying distributions that year, against a required minimum of $43K (roughly 5% of its investment assets).

What is Irving S Ray & Ada H Ray Memorial Fund?

Irving S Ray & Ada H Ray Memorial Fund is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Portland, ME. It holds $391K in total assets as of 2025.

What is Irving S Ray & Ada H Ray Memorial Fund's EIN?

Irving S Ray & Ada H Ray Memorial Fund's EIN (Employer Identification Number) is 01-6059686. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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