Ray-Carroll Scholarship Fund
The Ray-Carroll Scholarship Fund is a private foundation based in Richmond, Missouri. Its 2025 grants went to individual recipients in Missouri to help high school graduates go to college.
Key facts about Ray-Carroll Scholarship Fund
In short: Ray-Carroll Scholarship Fund gave $21K across 37 grants in 2025 (avg $554.054), mostly in Missouri. Source: 2025 IRS Form 990-PF.
- EIN
- 43-1244005
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $20,500
- Grants made (2025)
- 37
- Average grant
- $554
- Median grant
- $500
- Total assets
- $444,212
- Primary geography
- Missouri (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated October 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$444K
+7.6% YoY
Annual Giving
$21K
+46.4% YoY
Grant Count
37
+37.0% YoY
Avg Grant Size
$554.054
+6.9% YoY
Under IRS private-foundation payout rules, Ray-Carroll Scholarship Fund reported a distributable amount of $21K for 2025 — the minimum it must pay out in qualifying distributions.
How Ray-Carroll Scholarship Fund gives
- Giving grew 71% from 2022 to 2025. Method
- In 2025 it paid out 99% 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.
Mission & Focus Areas
The sources do not state a formal mission. The 2025 filing describes the grants as helping graduates go to college.
Grantmaking
In 2025, the fund awarded 37 grants totaling $20,500. Grants ranged from $500 to $1,000, with a median of $500. The listed awards were to individual recipients; four of the largest listed awards were $1,000 each, and the other listed awards were $500 each.
The foundation’s 2023 filing says it does not restrict giving to preselected organizations. It instructs applicants to fill out an application form and attach a letter describing their plans and the college they intend to attend. The filing also says to include a teacher evaluation and grade reports six weeks after the application is sent out. Awards must be used within two years of high school graduation and within the Ray-Carroll Cooperative Service Area.
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Geographic Focus
Where this funder awards grants
All grant dollars reported for 2025 went to recipients in Missouri. The 2023 filing restricts scholarship use to the Ray-Carroll Cooperative Service Area.
Grant Distribution by State
Share of 2025 grant dollars across all 37 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $12K (2022) to $21K (2025). In 2025 it made 37 grants totaling $21K.
Grant Insights
How this funder distributes its grants
Grant Size Distribution
140 grants across all recorded years
The most common grant size was under $50K: 140 grants of 140 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 37 grants to individuals Recipients not named | — | $20,500 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants awarded |
|---|---|---|---|---|
| 2025 | $444,212 | $32,892 | $27,516 | $20,500 across 37 grants |
| 2024 | $412,839 | $24,315 | $18,797 | $14,000 across 27 grants |
| 2023 | $347,177 | $25,267 | $18,838 | $14,500 across 23 grants |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $444,212 | $412,839 | $347,177 |
| Revenue | $32,892 | $24,315 | $25,267 |
| Expenses | $27,516 | $18,797 | $18,838 |
| Qualifying Distributions | $20,500 | $14,000 | $14,500 |
| Distributable Amount | $20,605 | $18,288 | $16,536 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS January 11, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 24, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS December 13, 2022)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 7, 2023)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 2, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 16, 2026)
- IRS filings on file for fiscal years 2020–2025
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Bently Hogan as president; Shari Kipping as secretary/treasurer; and Kenneth Buhlig, Beau Hepler, and Barbara Fifer as directors.
Ray-Carroll Scholarship Fund is led by Bently Hogan, President on every filing since 2020; 2 of 5 officers listed in 2025 are compensated.
Officers on the 2025 filing
Bently Hogan
President
On filings since 2020
1 hr/week
No compensation reported
Barbara Fifer
Director
Secretary & Treasurer → Director, 2025
On filings since 2020
1 hr/week
$500 (2025)
Beau Hepler
Director
On filings since 2021
1 hr/week
No compensation reported
Kenneth Buhlig
Director
On filings since 2021
1 hr/week
No compensation reported
Shari Kipping
Secretary & Treasurer
Director → Secretary & Treasurer, 2023
On filings since 2021
1 hr/week
$500 (2025)
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
The highest reported compensation on the 2025 filing was $500, to Shari Kipping (Secretary/Treasurer). 2 officers or directors reported compensation on that filing.
Contact
Application contact: Beau Hepler
Mailing address: PO Box 158, Richmond, MO 64085
Phone: (816) 776-2291
Frequently asked questions about Ray-Carroll Scholarship Fund
How much does Ray-Carroll Scholarship Fund give each year?
Ray-Carroll Scholarship Fund gave $21K across 37 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $14K across 27 grants.
What is Ray-Carroll Scholarship Fund's typical grant size?
Ray-Carroll Scholarship Fund's median grant in 2025 was $500, and its average grant was $554, across 37 grants on its 2025 IRS Form 990-PF.
Where does Ray-Carroll Scholarship Fund give grants?
Ray-Carroll Scholarship Fund gives mostly in Missouri: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Ray-Carroll Scholarship Fund give general operating support?
Not in 2025: none of the 37 grants with a stated purpose on Ray-Carroll Scholarship Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Help Graduates Go to College" (37 grants).
How large is Ray-Carroll Scholarship Fund?
Ray-Carroll Scholarship Fund reported $444K in total assets on its 2025 IRS Form 990-PF. It paid out $21K 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 Ray-Carroll Scholarship Fund fund?
The sources do not state a formal mission. The 2025 filing describes the grants as helping graduates go to college. See mission & focus areas ↑
How do I apply for a grant from Ray-Carroll Scholarship Fund?
Ray-Carroll Scholarship Fund has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Ray-Carroll Scholarship Fund's EIN?
Ray-Carroll Scholarship Fund's EIN (Employer Identification Number) is 43-1244005. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Here's the math on researching Ray-Carroll Scholarship Fund by hand.
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