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. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $404K in total assets. In 2024, it awarded 5 grants totaling $36K. Net investment income was $44K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$404K
+2.1% YoY
Annual Giving
$36K
+1.1% YoY
Grant Count
5
+0.0% YoY
Avg Grant Size
$7K
+1.1% YoY
Under IRS private-foundation payout rules, Irving S Ray & Ada H Ray Memorial Fund reported a distributable amount of $40K for 2024 — the minimum it must pay out in qualifying distributions.
About Irving S Ray & Ada H Ray Memorial Fund
Based on IRS filings
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 2024. As of 2024, the organization holds $404K in total assets. In 2024, it awarded 5 grants totaling $36K. Net investment income was $44K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $403,837 | $395,620 | $414,562 |
| Revenue | $55,619 | $26,996 | $28,188 |
| Expenses | $47,480 | $45,963 | $50,918 |
| Qualifying Distributions | $35,959 | $35,753 | $39,982 |
| Net Investment Income | $44,291 | $16,185 | $18,606 |
| Distributable Amount | $39,925 | $36,157 | $36,457 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
Grant Size Distribution
25 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Town of Gouldsboro ($17,879), Northern Light Maine Coast Hospital ($5,860), Mount Desert Island Hospital ($5,860).
| Recipient | Purpose | Amount |
|---|---|---|
| TOWN OF GOULDSBORO PROSPECT HARBOR, ME | FINANCIAL SUPPORT | $17,879 |
| NORTHERN LIGHT MAINE COAST HOSPITAL BANGOR, ME | FINANCIAL SUPPORT | $5,860 |
| MOUNT DESERT ISLAND HOSPITAL BAR HARBOR, ME | FINANCIAL SUPPORT | $5,860 |
| PROSPECT HARBOR METHODIST CHURCH PROSPECT HARBOR, ME | FINANCIAL SUPPORT | $300 |
| SHRINERS HOSPITALS FOR CHILDREN ATLANTA, GA | FINANCIAL SUPPORT | $5,860 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| HM PAYSON CO | TRUSTEE | 1 | $10,626 |
| John S Beliveau | TRUSTEE | 1 | — |
| David R Hines | TRUSTEE | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
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 $404K in total assets as of 2024.
How large is Irving S Ray & Ada H Ray Memorial Fund?
As of 2024, Irving S Ray & Ada H Ray Memorial Fund holds $404K in total assets with $56K in annual revenue. It awarded 5 grants totaling $36K in 2024.
Where does Irving S Ray & Ada H Ray Memorial Fund operate?
Irving S Ray & Ada H Ray Memorial Fund has awarded grants in Florida, Georgia, Maine.
What size grants does Irving S Ray & Ada H Ray Memorial Fund award?
In 2024, Irving S Ray & Ada H Ray Memorial Fund awarded 5 grants totaling $36K — an average of about $7K per grant, based on its IRS Form 990 filings.
How much is Irving S Ray & Ada H Ray Memorial Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Irving S Ray & Ada H Ray Memorial Fund reported a distributable amount of $40K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2020–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.