Ray Foundation
Ray Foundation is a private foundation focused on Arts and culture, based in Tuscaloosa, AL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $260K in total assets. In 2024, it awarded 5 grants totaling $17K. Net investment income was $12K.
Key facts about Ray Foundation
In short: Ray Foundation gave $17K across 5 grants in 2024 (avg $3K), mostly in Alabama. Source: 2024 IRS Form 990-PF.
- EIN
- 20-1209964
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $16,500
- Grants made (2024)
- 5
- Average grant
- $3,300
- Median grant
- $3,500
- Total assets
- $260,398
- Primary geography
- Alabama (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$260K
+0.1% YoY
Annual Giving
$17K
+0.0% YoY
Grant Count
5
+0.0% YoY
Avg Grant Size
$3K
+0.0% YoY
Under IRS private-foundation payout rules, Ray Foundation reported a distributable amount of $9K for 2024 — the minimum it must pay out in qualifying distributions.
How Ray Foundation gives
- Giving held roughly steady from 2021 to 2024 (−8%). Method
- In 2024 it paid out 189% 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
Share of 2024 grant dollars across all 5 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $16K (2022) to $18K (2021). In 2024 it made 5 grants totaling $17K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was Jesus Way Homeless Shelter ($6K). Together the top 5 received $17K.
Grant Size Distribution
17 grants across all recorded years
The most common grant size was under $50K: 17 grants of 17 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Jesus Way Homeless Shelter Tuscaloosa, AL | To Support the Shelter's Mission | $6,000 |
| Caring Days Tuscaloosa, AL | To Support the Organization | $3,500 |
| Sdes Hoover, AL | To Support the Organization | $3,500 |
| Community Foundation of West Alabam Northport, AL | To Support Mission | $2,500 |
| Tuscaloosa Public Library Foundatio Tuscaloosa, AL | To Support Mission | $1,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $260,398 | $260,119 | $268,239 |
| Revenue | $13,017 | $1,660 | $4,699 |
| Expenses | $23,988 | $28,935 | $55,066 |
| Qualifying Distributions | $16,500 | $16,500 | $15,500 |
| Net Investment Income | $12,244 | $5,068 | $4,699 |
| Distributable Amount | $8,728 | $12,699 | $16,463 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
Ray Foundation is led by Phyllis Gamble, President since 2024 (on filings since 2020); none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Phyllis Gamble
President
Director → President, 2024
On filings since 2020
No compensation reported
Carol Johnson
Vice President
Director → Vice President, 2024
On filings since 2020
No compensation reported
Laura Gregory
Secretary
Director → Secretary, 2024
On filings since 2020
No compensation reported
Former officers (4)
- Former: Allison Ray Tatum (2020–2023) — Secretary
- Former: Borden M. Ray Jr. (2020–2023) — Treasurer
- Former: Debbie Crownover (2020–2023) — Director
- Former: Martin Ray (2020–2023) — President
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Ray Foundation
How much does Ray Foundation give each year?
Ray Foundation gave $17K across 5 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $17K across 5 grants.
What is Ray Foundation's typical grant size?
Ray Foundation's median grant in 2024 was $3,500, and its average grant was $3,300, across 5 grants on its 2024 IRS Form 990-PF.
Where does Ray Foundation give grants?
Ray Foundation gives mostly in Alabama: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Tuscaloosa, AL (3 grants).
Does Ray Foundation give general operating support?
Not in 2024: none of the 5 grants with a stated purpose on Ray Foundation's 2024 IRS Form 990-PF were described as general or operating support.
Who are Ray Foundation's largest grantees?
Ray Foundation's largest 2024 grantees include Jesus Way Homeless Shelter ($6,000), Caring Days ($3,500) and Sdes ($3,500), according to its 2024 IRS Form 990-PF. Together they received 79% of its itemized 2024 grant dollars.
How large is Ray Foundation?
Ray Foundation reported $260K in total assets on its 2024 IRS Form 990-PF. It paid out $17K in qualifying distributions that year, against a required minimum of $9K (roughly 5% of its investment assets).
What is Ray Foundation?
Ray Foundation is a private foundation focused on Arts and culture, based in Tuscaloosa, AL. It holds $260K in total assets as of 2024.
What is Ray Foundation's EIN?
Ray Foundation's EIN (Employer Identification Number) is 20-1209964. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Ray Foundation by hand.
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