Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 07-01-2018 , and ending 06-30-2019
Name of foundation
RAY FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)100 AVIATION DRIVE SOUTH NO 203
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NAPLES, FL34104
A Employer identification number

81-0288819
B Telephone number (see instructions)

(239) 649-5733
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$190,176,989J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 1,475,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 390,187 390,187  
4 Dividends and interest from securities... 4,229,011 4,229,011  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,442,354
b Gross sales price for all assets on line 6a 5,092,571
7 Capital gain net income (from Part IV, line 2)... 4,442,354
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 2,691 2,691  
12 Total. Add lines 1 through 11........ 10,539,243 9,064,243  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 578,750 133,488   445,262
14 Other employee salaries and wages...... 4,500 675   3,825
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 4,429 664   3,765
b Accounting fees (attach schedule)....... Click to see attachment 3,000 450   2,550
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 144,689 20,460   25,797
19 Depreciation (attach schedule) and depletion... Click to see attachment 170,087 0  
20 Occupancy.............. 65,374 9,806   55,568
21 Travel, conferences, and meetings....... 40,680 0   40,680
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 97,965 3,382   94,583
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,109,474 168,925   672,030
25 Contributions, gifts, grants paid....... 13,229,794 13,229,794
26 Total expenses and disbursements. Add lines 24 and 25 14,339,268 168,925   13,901,824
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,800,025
b Net investment income (if negative, enter -0-) 8,895,318
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 138,169 1,105,511 1,105,511
2 Savings and temporary cash investments......... 30,429,821 21,638,396 21,639,422
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 28,000 142,067 142,067
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 43,074,801 Click to see attachment46,534,153 159,745,432
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 9,106,990 Click to see attachment8,126,260 5,769,644
14 Land, buildings, and equipment: basis bullet1,960,414
Less: accumulated depreciation (attach schedule) bullet185,501 470,000 Click to see attachment1,774,913 1,774,913
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 83,247,781 79,321,300 190,176,989
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 83,247,781 79,321,300
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see instructions)..... 83,247,781 79,321,300
31 Total liabilities and net assets/fund balances (see instructions). 83,247,781 79,321,300
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
83,247,781
2
Enter amount from Part I, line 27a .....................
2
-3,800,025
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
79,447,756
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
126,456
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
79,321,300
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 8000 AET D 2000-12-19 2018-11-29
b .4 CVS D 2000-12-19 2018-11-29
c .099 DELL D 1987-02-13 2019-01-10
d 2405 DXC D 1992-10-21 2019-01-18
e 6979 EXQNF D 1987-03-01 2018-09-06
2515 ESRX D 2006-10-25 2018-12-21
1028 GTX D 2000-06-29 2019-01-18
4550 HRL D 1988-03-01 2019-01-18
3845 MFGP D 1998-10-08 2018-09-03
1202 PRSP D 1998-10-08 2018-09-13
1713 REZI D 2000-06-29 2019-01-18
13485 VSAT D 1997-08-28 2019-02-12
4800 KDP D 1996-05-16 2018-09-13
2061 DXC D 1992-10-15 2019-01-18
2344 ESRX D 1993-04-23 2018-12-24
4690 FCX D 2007-03-02 2018-09-13
2764 GTX D 1988-03-01 2019-01-18
20000 HRL D 1988-03-01 2019-01-18
3695 JCI D 1998-03-01 2018-09-13
928 NVT D 1998-03-01 2018-09-13
3295 MFGP D 1988-10-14 2018-09-13
1030 PRSP D 1992-10-15 2018-09-13
928 PNR D 1998-03-01 2019-01-18
4606 REZI D 1988-03-01 2019-01-18
.6666 REZI D 1988-03-01 2018-10-29
.5296 CI D 1993-04-23 2018-12-26
.151 CI D 2006-10-25 2018-12-27
LP INT IN PAINE FIELD HOTEL DEV D 2017-03-28 2019-01-02
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,700,984   69,500 1,631,484
b 30   32 -2
c 5     5
d 150,568   18,741 131,827
e 19,542   47,809 -28,267
122,606   1,238 121,368
16,328   4,505 11,823
198,097   7,180 190,917
67,018   112,812 -45,794
30,297   2,786 27,511
37,867   12,069 25,798
983,035   944 982,091
114,510   41,921 72,589
128,889   14,412 114,477
114,270     114,270
64,627   182,962 -118,335
44,466   2,416 42,050
870,067   31,563 838,504
139,559   50,151 89,408
26,184   5,989 20,195
57,530   19,201 38,329
25,964   5,582 20,382
37,717   11,899 25,818
102,081   6,473 95,608
14     14
97   11 86
28   21 7
40,191     40,191
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,631,484
b       -2
c       5
d       131,827
e       -28,267
      121,368
      11,823
      190,917
      -45,794
      27,511
      25,798
      982,091
      72,589
      114,477
      114,270
      -118,335
      42,050
      838,504
      89,408
      20,195
      38,329
      20,382
      25,818
      95,608
      14
      86
      7
      40,191
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 4,442,354
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 3,059,577 177,321,328 0.017254
2016 145,000 65,414,832 0.002217
2015 3,592,790 23,103,298 0.155510
2014 4,404,240 23,690,218 0.185910
2013 1,688,071 20,543,502 0.082171
2
Total of line 1, column (d) .....................
2
0.443062
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.088612
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
186,273,760
5
Multiply line 4 by line 3......................
5
16,506,090
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
88,953
7
Add lines 5 and 6........................
7
16,595,043
8
Enter qualifying distributions from Part XII, line 4,.............
8
13,901,824
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 177,906
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 177,906
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 177,906
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 142,282
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 142,282
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 35,624
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCO, FL
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletHTTPS://RAYFOUNDATION.US
    14
    The books are in care ofbulletTHE FOUNDATION Telephone no.bullet (239) 649-5733

    Located atbullet100 AVIATION DRIVE SOUTH NO 203NAPLESFL ZIP+4bullet34104
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    CHARLES J AHEARN PRESIDENT/DIRECTOR
    40.00     		348,750 0 0
    100 AVIATION DRIVE SOUTH 203
    NAPLES,FL34104
    JEFFERY J TEMPAS TREASURER/DIRECTOR
    24.00     		115,000 0 0
    100 AVIATION DRIVE SOUTH 203
    NAPLES,FL34104
    THEODORE H BROUSSEAU SECRETARY/DIRECTOR
    20.00     		115,000 0 0
    100 AVIATION DRIVE SOUTH 203
    NAPLES,FL34104
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    154,223,481
    b
    Average of monthly cash balances.......................
    1b
    27,172,291
    c
    Fair market value of all other assets (see instructions)................
    1c
    7,714,644
    d
    Total (add lines 1a, b, and c).........................
    1d
    189,110,416
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) Click to see attachment.............
    1e
    2,356,616
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    189,110,416
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,836,656
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    186,273,760
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    9,313,688
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    9,313,688
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    177,906
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    177,906
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    9,135,782
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    9,135,782
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    9,135,782
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    13,901,824
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    13,901,824
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    13,901,824
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 9,135,782
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 2,455,607
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 13,901,824
    a Applied to 2017, but not more than line 2a 2,455,607
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 9,135,782
    e Remaining amount distributed out of corpus 2,310,435
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 2,310,435
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		2,310,435
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018.... 2,310,435
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    CHARLES J AHEARN
    100 AVIATION DRIVE SOUTH SUITE 203
    NAPLES,FL34104
    (239) 649-5733
    bThe form in which applications should be submitted and information and materials they should include:
    SEE ATTACHED STATEMENT 12
    cAny submission deadlines:
    SEE ATTACHED STATEMENT 12
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SEE ATTACHED STATEMENT 12
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ALZHEIMER'S SUPPORT NETWORK
    660 TAMIAMI TRAIL N
    NAPLES,FL34102     		NONE PUBLIC CHARITY OPERATING BUDGET SUPPORT 50,000
    AOPA AIR SAFETY FOUNDATION
    421 AVIATION WAY
    FREDERICK,MD21701     		NONE PUBLIC CHARITY SUPPORT FOR 'YOU CAN FLY' PROGRAM 1,800,000
    AOPA AIR SAFETY FOUNDATION
    421 AVIATION WAY
    FREDERICK,MD21701     		NONE PUBLIC CHARITY FLIGHT SCHOLARSHIPS 1,150,000
    COMMEMORATIVE AIR FORCE
    PO BOX 764769
    DALLAS,TX75376     		NONE PUBLIC CHARITY H.B. TIPPIE NATIONAL AVIATION EDUCATION CENTER 2,000,000
    UND AEROSPACE FOUNDATION
    5865 S SOSSAMAN RD
    MESA,AZ85212     		NONE PUBLIC CHARITY STUDENT HOUSING PROJECT 6,000,000
    CHILDREN'S HOSPITAL COLORADO FOUNDATION
    13123 E 16TH AVE BOX 045
    AURORA,CO80045     		NONE PUBLIC CHARITY RESEARCH GRANT MITOCHONDRIAL DISEASE 50,000
    LORENZO WALKER TECHNICAL COLLEGE
    3702 ESLEY AVE
    NAPLES,FL34104     		NONE PUBLIC CHARITY SCHOLARSHIP ASSISTANCE 1,200
    NAPLES CIVIL AIR PATROL
    360 AVIATION DR S
    NAPLES,FL34104     		NONE PUBLIC CHARITY TWO COMPUTER STATIONS 3,350
    COMMUNITY FOUNDATION OF COLLIER COUNTY
    1110 PINE RIDGE ROAD STE 200
    NAPLES,FL34108     		NONE PUBLIC CHARITY JAMES C RAY SCHOLARSHIP FUNDING 300,000
    EAA CHAPTER 1240
    1 LOCKWOOD LANE
    SEBRING,FL33870     		NONE PUBLIC CHARITY HANGAR EXPANSION PROJECT 150,000
    EAA CHAPTER 1240
    1 LOCKWOOD LANE
    SEBRING,FL33870     		NONE PUBLIC CHARITY EDUCATION PROGRAM OPERATING SUPPORT 74,244
    EXPERIMENTAL AIRCRAFT ASSOCIATION
    3000 POBEREZNY ROAD
    OSHKOSH,WI54902     		NONE PUBLIC CHARITY RAY AVIATION SCHOLARSHIP FUNDING 1,000,000
    EXPERIMENTAL AIRCRAFT ASSOCIATION
    3000 POBEREZNY ROAD
    OSHKOSH,WI54902     		NONE PUBLIC CHARITY KIDVENTURE OPERATING SUPPORT 50,000
    LAKELAND AERO CLUB
    3952 JAMES C RAY DRIVE
    LAKELAND,FL33811     		NONE PUBLIC CHARITY OPERATING BUDGET SUPPORT 91,000
    LAKELAND AERO CLUB
    3952 JAMES C RAY DRIVE
    LAKELAND,FL33811     		NONE PUBLIC CHARITY HANGAR MODIFICATION PROJECT SUPPORT 50,000
    THE IMMOKALEE FOUNDATION
    2375 TAMIAMI TRAIL N
    NAPLES,FL34103     		NONE PUBLIC CHARITY CONSTRUCTION MANAGEMENT CURRICULUM SUPPORT 250,000
    NAPLES ART ASSOCIATION
    585 PARK STREET
    NAPLES,FL34102     		NONE PUBLIC CHARITY COLLEGE SCHOLARSHIP PROGRAM 10,000
    AEROSPACE CENTER FOR EXCELLENCE
    4175 MEDULLA ROAD
    LAKELAND,FL33811     		NONE PUBLIC CHARITY FLIGHT SCHOLARSHIP FUNDING 90,000
    TEENS IN FLIGHT
    13 CHADWICK CT
    PALM COAST,FL32137     		NONE PUBLIC CHARITY OPERATING GRANT 50,000
    THE HERITAGE FOUNDATION
    214 MASSACHUSETTS AVE NE
    WASHINGTON,DC20002     		NONE PUBLIC CHARITY INTERNSHIPS 30,000
    WINGS OVER THE ROCKIES
    13005 WINGS WAY
    ENGLEWOOD,CO80112     		NONE PUBLIC CHARITY RESTRICTED GRANT FOR MEMBERSHIP SUPPORT 30,000
    Total .................................bullet 3a 13,229,794
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 390,187  
    4 Dividends and interest from securities....     14 4,229,011  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....     14 2,691  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 4,442,354  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 9,064,243 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    9,064,243
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    RAY FOUNDATION INC
     
    Employer identification number

    81-0288819
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    RAY FOUNDATION INC
          		Employer identification number
    81-0288819
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ESTATE OF JAMES C RAY
     
    100 AVIATION DRIVE SOUTH STE 203
     
    NAPLES, FL34104

    		$ 1,475,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    RAY FOUNDATION INC
          		Employer identification number

    81-0288819
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 CESSNA CARAVAN N239JR. $ 1,475,000 2018-10-01
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    RAY FOUNDATION INC
          		Employer identification number

    81-0288819
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX RETURN PREPARATION 3,000 450   2,550

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    TY 2018 DepreciationSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    COMPUTER AND PERIFERALS 2004-09-20 10,814 10,814 SL 5.000000000000 0 0    
    CARPET 2004-10-25 4,600 4,600 SL 5.000000000000 0 0    
    HANGAR 2018-06-18 470,000   SL 39.000000000000 12,051 0    
    CARAVAN N239JR 2018-10-01 1,475,000   SL 7.000000000000 158,036 0    

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Name of Stock End of Year Book Value End of Year Fair Market Value
    9152 A 48,427 683,380
    8055 AKAM 4,014 645,528
    18100 AABA 221,931 1,255,597
    2352 ALVR 29,625 9
    12000 AXP 848,195 1,481,280
    20244 APA 156,900 586,469
    62960 AAPL 1,417,045 12,461,043
    311000 T 3,272,578 10,421,610
    2989 AZO 32,764 3,286,316
    35716 BAC 841,735 1,035,764
    1500 BDX 284,512 378,015
    5000 BA 208,254 1,820,050
    40000 BP 659,279 1,668,000
    14000 BMY 658,484 634,900
    4000 CAH 163,294 188,400
    7000 CAT 262,851 954,030
    36012 CHV 615,760 4,481,333
    15714 CIEN 52,545 646,317
    26512 CSCO 127,056 1,451,002
    6000 C 482,992 420,180
    9980 KO 250,378 508,182
    174214 CMCSA 1,474,341 7,365,768
    42286 COP 233,079 2,579,446
    10000 DHR 294,686 1,429,200
    9060 DELL 11,797 460,248
    3862 EMN 14,837 300,579
    132054 XOM 1,242,658 10,119,298
    60000 F 716,395 613,800
    5000 FTV 91,683 407,600
    23000 GRMN 905,491 1,835,400
    10000 GSK 77,163 400,200
    2500 GS 557,384 511,500
    1504 GOOG 386,360 1,625,689
    1500 GOOGL 387,631 1,624,200
    13260 HCP 167,925 424,055
    52000 HPE 75,405 777,400
    52000 HPQ 154,568 1,081,080
    37920 HON 616,974 6,620,453
    274550 HRL 394,531 10,135,000
    3191 NGVT 43,465 335,597
    5000 INTC 94,202 239,350
    20800 JPM 532,877 2,325,440
    24000 JBL 607,975 758,400
    10000 JNJ 616,868 1,392,800
    4578 KEYS 18,470 410,971
    12000 KHC 654,143 372,480
    4166 LLY 249,132 461,551
    17000 LOW 519,379 1,715,470
    4000 MPC 22,631 223,520
    13699 MDT 599,959 1,334,146
    27460 MRK 736,733 2,302,521
    8000 MDLZ 184,093 431,200
    4300 MSI 258,401 716,939
    9162 NCR 34,384 284,938
    15000 NSRGY 77,163 1,551,000
    15000 NWN 255,438 1,042,500
    9000 NVS 215,037 821,790
    44081 NUAN 107,733 703,974
    21000 ORCL 275,640 1,196,370
    5400 ORLY 151,869 1,994,328
    7000 PAYX 204,885 576,030
    34617 PFE 811,615 1,499,608
    21143 PSX 73,494 1,977,716
    11393 PTC 42,521 1,022,636
    3000 RAYS# 3,666 0
    20000 SLB 152,417 794,800
    27684 SNPS 61,023 3,562,654
    26070 TMUS 41,456 1,932,830
    3870 TEL 74,299 370,669
    9162 TDC 38,942 328,458
    5500 TRV 583,987 822,360
    7000 UTX 275,779 911,400
    38379 USB 363,485 2,011,060
    80678 VZ 1,861,141 4,609,134
    50000 VSAT 3,400 4,041,000
    29256 VOD 296,275 477,750
    4200 WBA 152,071 229,614
    17194 WF 298,026 813,620
    19150 WRK 400,941 698,401
    7500 ZBH 627,910 883,050
    4000 IYF 214,056 502,400
    58000 ITOT 2,270,604 3,864,540
    40000 VB 5,838,191 6,266,400
    39000 VO 5,969,223 6,519,240
    2500 MMM 510,570 433,350
    6702 CVS 540,952 365,192
    1182 CI 96,180 186,224
    1800 ALC 29,925 111,690

    TY 2018 InvestmentsOtherSchedule2
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BEECHWOOD BARTOW LLC AT COST 3,668,182 2,604,409
    UNIVERSITY HOTEL DEV AT COST 521,823 370,494
    BEECHWOOD LAKELAND AT COST 2,969,979 2,108,685
    BEECHWOOD PLAZA OSHKOSH AT COST 966,276 686,056

    TY 2018 LandEtcSchedule2
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COMPUTER AND PERIFERALS 10,814 10,814 0  
    CARPET 4,600 4,600 0  
    HANGAR 470,000 12,051 457,949  
    CARAVAN N239JR 1,475,000 158,036 1,316,964  


    TY 2018 LegalFeesSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 4,429 664   3,765


    TY 2018 OtherDecreasesSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Description Amount
    REDUCTION IN BASIS OF MARKETABLE SECURITIES REC'D IN 2017 FROM JAMES C RAY 126,456


    TY 2018 OtherExpensesSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AIRCRAFT EXPENSE 76,351 0   76,351
    BANK AND FILING FEES 3,717 558   3,159
    PAYROLL SERVICE FEE 1,723 398   1,325
    INSURANCE 16,174 2,426   13,748


    TY 2018 OtherIncomeSchedule2
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    MISCELLANEOUS 2,691 2,691 2,691


    TY 2018 ReductionExplanationStatement
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Explanation:
    INTERESTS IN 4 HOTEL PARTNERSHIPS HAVE BEEN REDUCED BY 29% DUE TO THEIR LACK OF MARKETABILITY. ATTEMPTS TO SELL THESE INTERESTS HAVE MET WITH LITTLE SUCCESS. THE 29% DISCOUNT RATE IS BASED ON THE ACTUAL SALE OF A FIFTH HOTEL INTEREST AT 71% OF ITS BOOK VALUE. BOOK VALUE DERIVED FROM ESTATE VALUE AT THE DATE OF DEATH OF CONTRIBUTOR JAMES C RAY.

    TY 2018 TaxesSchedule
    Name:
    RAY FOUNDATION INC
    EIN:
    81-0288819
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX ON INVESTMENT INCOME 98,432 0   0
    FOREIGN TAX PAID 14,380 14,380   0
    PAYROLL TAXES 31,877 6,080   25,797