Ray Foundation INC FY2023 filing

Tax-deductible

Naples, FL501(c)(3)EIN 81-0288819

501(c)(3) charity; gifts are tax-deductible.
$1.6M paid to officers and key staff.
Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · Form 990-TIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990-T
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $2.5M a year · 21% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
990-PF Pt I · 5 filings
Pay to officers and key staff
$1.6M
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
990-PF Pt VIII
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
990-PF Pt II
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.3M
-36% vs prior year
Spent
$11.8M
Net assets
$72.7M
By yearFY2021–FY2025
Revenue
$7.3M
FY2023▼ -36%
Revenue by fiscal year
FY2021$10.3M
FY2022$11.5M
FY2023$7.3M
FY2024$18.7M
FY2025$9.6M
Expenses
$11.8M
FY2023▲ +4%
Expenses by fiscal year
FY2021$12.4M
FY2022$11.4M
FY2023$11.8M
FY2024$20.2M
FY2025$13.9M
Net assets
$72.7M
FY2023▼ -5%
Net assets by fiscal year
FY2021$76.0M
FY2022$76.2M
FY2023$72.7M
FY2024$71.2M
FY2025$66.9M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1963.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Grants & contributions paid 87% · $10.3M Operating & administrative 13% · $1.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990-T; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2023 filing did not itemize Part VII
Director Emeritus
$729,166Pt VII · Sec A
President/Director
$500,000Pt VII · Sec A
Treasurer/Director
$250,000Pt VII · Sec A
Secretary/Director
$125,000Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2022
Theodore H Brousseau——$729,166
Charles J Ahearn$600,000$600,000$500,000
Jeffery J Tempas$396,667—$250,000
Jeffrey J Tempas—$360,000—
Patricia J Arthur$295,833$250,000$125,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ray Foundation INC executive salaries →

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Programs and updates

A private foundation based in Naples, FL.

Provided by the organization

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 40 grants · $11.4M · 2024–2024
Aopa Air Safety FoundationFY2024$2,650,000
Eaa Aviation Foundation INCWI · FY2024$2,345,060
Commerative Air ForceFY2024$892,000
Wings Over the RockiesFY2024$800,000
The Immokalee Foundation INCFL · FY2024$800,000
Und Aerospace FoundationND · FY2024$300,000
Community Foundation of Collier CountyFY2024$300,000
Southeastern Guide DogsFY2024$250,000
Teens-In-Flight IncorporatedFL · FY2024$150,000
Pearl Harbor Aviation MuseumHI · FY2024$125,000
Able Flight INCNC · FY2024$75,000
The Heritage FoundationFY2024$60,000
Flight FoundationTN · FY2024$58,680
Holocaust Museum & Cohen Education CenterFY2024$50,000
See all 40 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV18
Average grantPart XV$284K
Median grantPart XV$50K
Largest grantPart XV$2.6M
Top cause focusNTEEEducation (22%)

By the numbers

The FY2023 990-T, line by line.

1The main four
Money in
$7.3M
Investment income$6.1M
Gifts and grants$1.2M
Other income$2K
Money out
$11.8M
Grants paid$10.3M
Running costs$1.5M
Owns and owes
$72.7M
net assets
Cash and savings$5.6M
Total assets$72.7M
Liabilities$0
People
4
listed
Paid4
2In more detail
Revenue in detail
Gifts and grants$1.2M
Investment income$6.1M
Other income$2K
Total revenue$7.3M
Assets in detailEnd of year
Cash and savings together$5.6M
Total assets$72.7M
Liabilities$0
Net assets$72.7M
Operations
Fiscal year endsJune

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.6M$13.9M−$4.3M$66.9M 990 PDF
FY2024 $18.7M$20.2M−$1.5M$71.2M 990 PDF
FY2023 Viewing $7.3M$11.8M−$4.5M$72.7M 990 PDF
FY2022 $11.5M$11.4M$115K$76.2M 990 PDF
FY2021 $10.3M$12.4M−$2.2M$76.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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