Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
THE RAY CHARLES FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)2107 WEST WASHINGTON BLVD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LOS ANGELES, CA90018
A Employer identification number

95-4047622
B Telephone number (see instructions)

(323) 737-8000
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$47,798,279J 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)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 637,581 637,581  
4 Dividends and interest from securities...      
5a Gross rents............ 760,237 760,237  
b Net rental income or (loss) 212,170
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)...  
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
List of Attached Documents:
// Content
2,299,540 1,866,952  
12 Total. Add lines 1 through 11........ 3,697,358 3,264,770  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 398,474 199,237   199,237
14 Other employee salaries and wages...... 477,511 238,756   238,755
15 Pension plans, employee benefits....... 20,934 10,467   10,467
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
333,963 166,982   166,981
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
95,000 47,500   47,500
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
121,740 60,872   60,868
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
128,969 49,244   64,483
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
381,497 381,497  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 29,860 14,930   14,930
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments
List of Attached Documents:
// Content
990,100 524,555   465,545
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,978,048 1,694,040   1,268,766
25 Contributions, gifts, grants paid....... 1,612,500 1,612,500
26 Total expenses and disbursements. Add lines 24 and 25 4,590,548 1,694,040   2,881,266
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -893,190
b Net investment income (if negative, enter -0-) 1,570,730
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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............. 974,670 1,067,150 1,067,150
2 Savings and temporary cash investments......... 10,032,879 9,199,946 9,199,946
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 94,400 119,519 119,518
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 530,064 Click to see attachment
List of Attached Documents:
// Content
509,316 		509,316
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow8,231,556
Less: accumulated depreciation (attach schedule) right arrow2,010,172 6,240,051 Click to see attachment
List of Attached Documents:
// Content
6,221,384 		13,500,000
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 14,424,788 Click to see attachment
List of Attached Documents:
// Content
15,390,075 		15,390,075
14 Land, buildings, and equipment: basis right arrow5,906,229
Less: accumulated depreciation (attach schedule) right arrow3,721,093 2,245,817 Click to see attachment
List of Attached Documents:
// Content
2,185,136 		3,700,000
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
4,276,033 		Click to see attachment
List of Attached Documents:
// Content
4,312,275 		Click to see attachment
List of Attached Documents:
// Content
4,312,274
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 38,818,702 39,004,801 47,798,279
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 right arrow) Click to see attachment
List of Attached Documents:
// Content
94,926 		Click to see attachment
List of Attached Documents:
// Content
80,222
23 Total liabilities (add lines 17 through 22)......... 94,926 80,222
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 38,723,776 38,924,579
29 Total net assets or fund balances (see instructions)..... 38,723,776 38,924,579
30 Total liabilities and net assets/fund balances (see instructions). 38,818,702 39,004,801
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
38,723,776
2
Enter amount from Part I, line 27a .....................
2
-893,190
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
1,821,495
4
Add lines 1, 2, and 3 ..........................
4
39,652,081
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
727,502
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
38,924,579
Form 990-PF (2024)
Form 990-PF (2024)
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.)
1a
b
c
d
e
(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
b
c
d
e
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
b
c
d
e
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  
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
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 right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 21,833
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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  
3 Add lines 1 and 2........................... 3 21,833
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 21,833
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 18,800
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 18,800
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 3,033
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow0 Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-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 the instructions
for the 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. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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:
round bullet By language in the governing instrument, or
round bullet 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 XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCA
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 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
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
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 addressright arrowwww.theraycharlesfoundation.org
14
The books are in care ofright arrowVALERIE ERVIN PRESIDENT Telephone no.right arrow (323) 737-8000

Located atright arrow2107 W WASHINGTON BLVDLOS ANGELESCA ZIP+4right arrow90018
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, 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 right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-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? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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)? ......................
1a(5)
 
No
(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.) ...............
1a(6)
 
No
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
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
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 2024? .............
1d
 
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-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))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
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
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
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? .................
5d
 
 
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? .............................
6a
 
No
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?
7a
 
No
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? .........................
8
 
No
Part VII
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
VAERIE ERVIN President
40.00 		388,124 10,350  
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
MARK WHITLOCK Chairman
1.00 		0    
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
C DANIELS Director
1.00 		0    
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
D BROKAW Director
1.00 		0    
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
YAKUB COLEMAN Director
0.00 		0    
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
W COLEMAN Director
1.00 		0    
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
K L JOHNSON Secretary
1.00 		0    
2107 W WASHINGTON BLVD
LOS ANGELES,CA90018
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
J SUN CONTROLLER
40.00 		160,258 4,482  
2107 WEST WASHINGTON BLVD
LOS ANGELES,CA90018
D THIEL PROPERTY MGR
40.00 		93,314 2,799  
2107 WEST WASHINGTON BLVD
LOS ANGELES,CA90018
T DENSON EXEC ASSISTANT
40.00 		79,217    
2107 WEST WASHINGTON BLVD
LOS ANGELES,CA90018
S JEONG FACILITY MGR
40.00 		72,987 2,190  
2107 WEST WASHINGTON BLVD
LOS ANGELES,CA90018
K JACKSON RECEPTIONIST
40.00 		62,085 1,862  
2107 WEST WASHINGTON BLVD
LOS ANGELES,CA90018
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
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
HOME REMODELING INC CONTRACTOR 187,550
5522 N ASPEN
AZUSA,CA91702
BLACK & WHITE TV INC PRODUCTION COMPANY 224,000
8756 DORRINGTON AVE
LOS ANGELES,CA90048
HUTCHINSON & BLOODGOODLLP ACCOUNTING 90,000
PO BOX 518
EL CENTRO,CA92244
SUMMIT MASTER ELECTRICIAN ELECTRICIAN 100,138
13778 HAWTHORNE BLVD
HAWTHORNE,CA90250
MITCHELL SILBERBERG & KNUPP LLP LEGAL 359,130
2049 CENTURY PARK EAST 18TH FL
LOS ANGELES,CA90067
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-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 VIII-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.........................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
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
15,427,122
b
Average of monthly cash balances.......................
1b
10,637,323
c
Fair market value of all other assets (see instructions)................
1c
19,090,000
d
Total (add lines 1a, b, and c).........................
1d
45,154,445
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
45,154,445
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
677,317
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
44,477,128
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,223,856
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,223,856
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
21,833
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
21,833
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,202,023
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
2,202,023
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,202,023
Part XI
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
2,881,266
b
Program-related investments—total from Part VIII-B..................
1b
 
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 XII, line 4. .......
4
2,881,266
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 2,202,023
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 305,177
b From 2020...... 794,949
c From 2021......  
d From 2022......  
e From 2023...... 2,112,366
f Total of lines 3a through e ........ 3,212,492
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 2,881,266
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		2,202,023
d Applied to 2024 distributable amount..... 679,243
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2024. 1,522,780 1,522,780
(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 3,891,735
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		3,891,735
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023.... 1,010,469
e Excess from 2024.... 2,881,266
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-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 2024, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
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 IX, 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 XIV
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 right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
GRANT DEPARTMENT
2107 West Washington Boulevard
LOS ANGELES,CA90018
(323) 737-8000
info@theraycharlesfoundation.org
bThe form in which applications should be submitted and information and materials they should include:
The Ray Charles Foundation requests that the applicant print and follow the Grant Check List. Upon completing the instructions, mail the GRANT APPLICATION PACKAGE (Cover Letter, completed and signed Online Grant Application, Letter of Inquiry, Proof of IRS federal tax-exempt status, Annual Report [if available], and signed Grant Check List TO THE FOLLOWING ADDRESS:GRANT DEPARTMENTThe Ray Charles Foundation2107 West Washington BoulevardLos Angeles, CA 90018
cAny submission deadlines:
NO SUBMISSION DEADLINES - APPLICATIONS REVIEWED ALL YEAR
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Obligations and Responsibilities of Grant Recipients 1) Since an award is made only for the purposes set forth in the Grantees submitted proposal and the Grantees grant application, any modifications to the project, as originally proposed, may be made only with prior written approval by The Ray Charles Foundation.2) The Grantee may not grant any portion of the award to a secondary Grantee without prior written permission of The Ray Charles Foundation.3) The Grant must be spent in full within the time set forth in the Grant proposal and if no such time is set forth, then within twelve (12) months following the Grant. In the event that the Grant is expressly made for multiple years, any funds not used in the current year may be applied to the purposes of the Grant in following years but only for the years covered by the Grant proposal.4) The Grantee must maintain complete records of receipts and expenditures sufficient to identify grant funds and expenditures made in the furtherance of t
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
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
GRAMMY MUSEUM FOUNDATION


800 W OLYMPIC BLVD
LOS ANGELES,CA90015 		NONE NOT A FDN EDUCATION 1,000,000
ART CENTER COLLEGE OF DESIGN


1700 LIDA ST
PASADENA,CA91103 		NONE NOT A FDN EDUCATION 15,000
HAMPTON UNIVERSITY


100 E QUEEN ST
HAMPTON,VA23669 		NONE NOT A FDN EDUCATIONAL PURPOSES 5,000
SOUTHERN POVERTY LAW CENTER


400 WASHINGTON AVE
MONTGOMERY,AL36104 		NONE NOT A FDN CHARITABLE PURPOSES 5,000
JACKIE ROBINSON FOUNDATION INC


75 VARICK STREET 2ND FLOOR
NEW YORK,NY10013 		NONE NOT A FDN CHARITABLE PURPOSES 25,000
BOULE FOUNDATION


1612 OVERLOOK CREEK
SAN ANTONIO,TX78620 		NONE NOT A FDN CHARITABLE PURPOSES 20,000
REID TEMPLE AME CHURCH


11400 GLENN DALE BLVD
GLENN DALE,MD20769 		NONE NOT A FDN CHARITABLE PURPOSES 25,000
CAL STATE DOMINGUEZ HILLS


1000 EAST VICTORIA STREET
CARSON,CA90746 		NONE NOT A FDN CHARITABLE PURPOSES 5,000
PUBLIC COUNSEL'S CHILDREN RIGHTS PR


610 S ARDMORE
LOS ANGELES,CA90005 		NONE NOT A FDN CHARITABLE PURPOSES 12,500
CITY OF NORTH LAS VEGAS POLICE DEPA


2266 CIVIC CENTER DR
NORTH LAS VEGAS,NV89030 		NONE NOT A FDN CHARITABLE PURPOSES 500,000
Total .................................right arrow 3a 1,612,500
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-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 ........... 		    14 637,581  
4 Dividends and interest from securities ....          
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 212,170  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		         
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aALBUM INCOME 		    15 29,642  
bFED/CA TAX REFUNDS     1    
cLEGAL SETTLEMENT     1    
dLICENSING/MERCHANDISE     15    
eMASTER LICENSE REVENUE     15 54,553  
fMISCELLANEOUS INCOME     1 4,375  
gOIL & GAS LEASE     1 1,512  
hPUBLISHING INCOME     15 151,705  
iRETURN OF GRANT-UNSPENT FUNDS     1 432,588  
jROYALTY RECEIPTS     15 1,625,165  
kSAG PENSION RECEIPTS     14    
12 Subtotal. Add columns (b), (d), and (e) ..   3,149,291  
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,149,291
(See worksheet in line 13 instructions to verify calculations.)
Part XV-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 XV-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 (2024)
Form 990-PF (2024)
Page 13
Part XVI
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.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID: 24020490
Software Version: 2024v5.2


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 95,000 47,500 0 47,500

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 AmortizationSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description of Amortized Expenses Date Acquired, Completed, or Expended Amount Amortized Deduction for Prior Years Amortization Method Current Year Amortization Net Investment Income Adjusted Net Income Total Amount of Amortization
PRODUCTION COSTS - OPRY SALUTE 2019-02-01 589,975 290,073 10.0000 58,998     349,071

TY 2024 AppliedToPriorYearElection
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Election:
Pursuant to Regulation 53.4942(a)-3(c)(2)(iv), the foundation hereby elects to treat, as a current distibution out of corpus, the following unused prior years distributions that were treated as corpus distributions under Regulation 53.4942(a)-3(d)(1)(iii) in such prior tax year: Tax Year: 2019 Amount: 305177 Tax Year: 2020 Amount: 794949

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 DepreciationSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
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
LINDEN 85 BLDG - DOD VAL 2004-06-10 636,600 370,300 SL 3.64 % 23,147 23,147    
LINDEN 91 BLDG - DOD VAL 2004-06-10 1,640,000 954,182 SL 3.64 % 59,630 59,630    
LINDEN 91 IMPROVEMENTS 2008-06-30 35,012 19,786 SL 3.64 % 1,273 1,273    
WASHINGTON BLDG - DOD VAL 2004-06-10 425,033 174,368 SL 2.56 % 10,898      
NEW ROOF-LINDEN 85 2011-12-01 27,390 22,064 SL 15.0000 1,826 1,826    
WASHINGTON BL-IMPROV 2011-07-01 245,569 204,638 SL 15.0000 16,371      
WASHINGTON BL-IMPROV 2012-03-05 32,544 25,678 SL 15.0000 2,170      
WASHINGTON BL-IMPROV 2013-07-23 25,510 17,719 SL 15.0000 1,701      
LINDEN 85 IMPROVEMENTS 2013-12-12 2,924 1,966 SL 15.0000 195 195    
LINDEN 91 IMPROVEMENTS 2013-12-17 33,043 22,030 SL 15.0000 2,203 2,203    
WASHINGTON BL - IMPROV 2014-07-01 49,920 31,616 SL 15.0000 3,328      
LINDEN 91 IMPROVEMENTS 2014-07-01 23,202 14,696 SL 15.0000 1,547 1,547    
WASHINGTON BL - IMPROV 2015-07-23 35,462 19,897 SL 15.0000 2,364      
LINDEN 85 IMPROVEMENTS 2015-07-01 16,600 9,409 SL 15.0000 1,107 1,107    
LINDEN 91 IMPROVEMENTS 2015-07-01 82,637 46,827 SL 15.0000 5,509 5,509    
LINDEN 85 IMPROVEMENTS 2016-10-03 14,800 7,156 SL 15.0000 987 987    
LINDEN 91 IMPROVEMENTS 2016-07-01 88,831 44,415 SL 15.0000 5,922 5,922    
LINDEN 85 IMPROVEMENTS 2008-06-30 6,100 3,449 SL 3.64 % 222 222    
RAY CHARLES MUSEUM IMPROV 2017-12-14 510,130 206,888 SL 15.0000 34,009      
LINDEN 85 - ROOF 2017-06-22 24,000 10,400 SL 15.0000 1,600 1,600    
LINDEN 91 IMPROVEMENTS 2017-07-01 22,408 9,711 SL 15.0000 1,494 1,494    
WASHINGTON BL - IMPROV 2017-07-01 57,840 25,064 SL 15.0000 3,856      
RAY CHARLES MUSEUM IMPROV 2017-12-14 341,096 138,335 SL 15.0000 22,740      
WASHINGTON BL - IMPROV 2018-01-16 6,890 2,716 SL 15.0000 459      
LINDEN 85 IMPROVEMENTS 2018-07-01 69,455 25,465 SL 15.0000 4,630 4,630    
LINDEN 91 IMPROVEMENTS 2018-06-01 13,760 5,120 SL 15.0000 917 917    
STUDIO EQUIPMENT 2019-06-01 7,463 6,843 SL 5.0000 620      
OFFICE EQUIPMENT 2019-07-01 15,171 13,653 SL 5.0000 1,518      
MASTER RECORDING EQUIPMEN 2019-04-01 8,120 7,714 SL 5.0000 406      
LINDEN 85 IMPROVEMENTS 2019-07-01 234,000 70,200 SL 15.0000 15,600 15,600    
LINDEN 91 IMPROVEMENTS 2019-07-01 207,237 62,172 SL 15.0000 13,816 13,816    
WASHINGTON BL - IMPROV 2019-07-01 16,420 4,927 SL 15.0000 1,095      
WASHINGTON BL - F&F 2019-10-01 16,152 9,805 SL 7.0000 2,307      
WASHINGTON BL - ROOF 2020-06-30 46,780 4,248 SL 2.56 % 1,199      
LINDEN 85 IMPROVEMENTS 2020-05-08 48,502 11,855 SL 15.0000 3,233 3,233    
LINDEN 85 RETROFIT 2020-12-29 226,184 25,016 SL 3.64 % 8,224 8,224    
WASHINGTON BL-REBUILD BATHROOM 2021-03-23 14,350 2,632 SL 15.0000 957      
13 UNITS FIREPROOF CABINETS 2021-06-17 68,078 24,313 SL 7.0000 9,725      
WASHINGTON BL- BUILD BARRIER 2021-11-21 5,280 733 SL 15.0000 352      
WASHINGTON-AIR CONDITIONER 2021-08-19 11,887 3,962 SL 7.0000 1,698      
RAY CHARLES MUSEUM IMPROVEMENT 2022-05-28 10,575 1,116 SL 15.0000 705      
LINDEN 85 IMPROVEMENTS 2022-07-01 171,309 17,131 SL 15.0000 11,421 11,421    
LINDEN 91 IMPROVEMENTS 2022-01-01 82,220 10,962 SL 15.0000 5,481 5,481    
LINDEN 91 IMPROVEMENTS 2022-07-01 206,326 20,633 SL 15.0000 13,755 13,755    
WASHINGTON BL - PARKING LOT 2022-03-03 19,805 2,420 SL 15.0000 1,320      
WASHINGTON BL - ROOF 2022-03-28 79,098 3,636 SL 2.56 % 2,028      
WASHINGTON BL - IMPROVEMENTS 2022-07-01 41,698 4,170 SL 15.0000 2,780      
WASHINGTON BL-IMPROVEMENTS 2023-08-21 62,479 1,388 SL 15.0000 4,165      
WASHINGTON BL- F&F 2023-02-22 14,914 1,775 SL 7.0000 2,131      
LINDEN 91 IMPROVEMENTS 2023-10-30 457,665 5,085 SL 15.0000 30,511 30,511    
LINDEN 85 IMPROVEMENTS 2023-12-06 46,385 258 SL 15.0000 3,092 3,092    
RAY CHARLES MUSEUM IMPROVEMENTS 2023-07-10 56,760 1,892 SL 15.0000 3,784      
STUDIO EQUIPMENT 2023-12-31 105,764   SL 5.0000 21,153      
LINDEN 91 IMPROVEMENTS 2024-09-18 55,016   SL 15.0000 917 917    
LINDEN 85 IMPROVEMENTS 2024-10-28 146,200   SL 15.0000 1,624 1,624    
RAY CHARLES MUSEUM IMPROV 2024-05-09 33,081   SL 15.0000 1,470      
WASHINGTON BL- MPROV 2024-06-07 53,609   SL 15.0000 2,085      
EQUIPMENT 2024-03-06 11,942   SL 5.0000 1,990      
EQUIPMENT 2024-06-30 2,300   SL 5.0000 230      

TY 2024 InvestmentsCorpStockSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Name of Stock End of Year Book Value End of Year Fair Market Value
EXCHANGE TRADED FUNDS 509,316 509,316

TY 2024 InvestmentsLandSchedule2
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Buildings 2,261,250 2,010,172 251,078 8,547,121
Improvements 2,356,556   2,356,556  
Land 3,613,750   3,613,750 4,952,879

TY 2024 InvestmentsOtherSchedule2
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
FIXED INCOME SECURITIES AT COST 15,390,075 15,390,075

TY 2024 LandEtcSchedule2
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Furniture and Fixtures 253,612 202,419 51,193  
Machinery and Equipment 2,312,666 2,196,329 116,337  
Buildings 802,668 581,832 220,836 2,100,000
Improvements 1,757,283 740,513 1,016,770  
Land 780,000   780,000 1,600,000


TY 2024 LegalFeesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 333,963 166,982 0 166,981


TY 2024 OtherAssetsSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Net Intangible Assets 3,396,000 3,396,000 3,396,000
OPERATING LEASES - RIGHT OF USE ASSETS 23,603 6,065 6,065
PRODUCTION COSTS 856,430 910,210 910,209


TY 2024 OtherDecreasesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description Amount
ADJUST FOR BOOK TAX AMORTIZATION 240,905
REVERSE PRIOR YEAR CASH BASIS ADJUSTMENT 486,597


TY 2024 OtherExpensesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADVERTISING 66,337 33,169   33,168
Amortization 58,998 58,998    
BANK CHARGES 813 407   406
COMPUTER EXPENSE 11,781 5,891   5,890
DUES & SUBSCRIPTIONS 6,958 3,479   3,479
GARDENING 10,380 5,190   5,190
INSURANCE 329,446 164,723   164,723
INTERNET 4,811 2,406   2,405
LICENSES AND FEES 9,305 4,653   4,652
OFFICE EXPENSE 14,883 7,442   7,441
PEST CONTROL 1,930 965   965
PLUMBING & ELECTRICAL 11,745 5,873   5,872
POSTAGE & FREIGHT 3,734 1,867   1,867
Rental Expenses 328,184 164,092   164,092
REPAIRS & MAINTENANCE 27,653 13,827   13,826
SECURITY 11,657 5,829   5,828
TELEPHONE 58,284 29,142   29,142
TRAINING 4,684 2,342   2,342
TRASH SERVICE 4,489 2,245   2,244
UTILITIES 20,971 10,486   10,485
VEHICLE 3,057 1,529   1,528


TY 2024 OtherIncomeSchedule2
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
ALBUM INCOME 29,642 29,642  
MASTER LICENSE REVENUE 54,553 54,553  
MISCELLANEOUS INCOME 4,375 4,375  
OIL & GAS LEASE 1,512 1,512  
PUBLISHING INCOME 151,705 151,705  
RETURN OF GRANT-UNSPENT FUNDS 432,588    
ROYALTY RECEIPTS 1,625,165 1,625,165  


TY 2024 OtherIncreasesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description Amount
PRIOR YEAR GRANT PAYABLE DISBURSED IN CURRENT YEAR 1,000,000


TY 2024 OtherLiabilitiesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Description Beginning of Year - Book Value End of Year - Book Value
SECURITY DEPOSITS 71,323 71,124
lease liabiltiy 23,603 6,065
OTHER LIABILITIES   3,033


TY 2024 OtherProfessionalFeesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
401K PLAN ADMIN FEE 2,689 1,345 0 1,344
COMPUTER CONSULTANT 4,225 2,113 0 2,112
CONSULTANTS 38,211 19,106 0 19,105
INVESTMENT 72,987 36,494 0 36,493
OTHER 3,628 1,814 0 1,814


TY 2024 TaxesSchedule
Name:
THE RAY CHARLES FOUNDATION
EIN:
95-4047622
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER 30,483     15,241
PAYROLL TAXES 53,133 26,567   26,566
PROPERTY TAX 45,353 22,677   22,676