In 2005, The Raymar Children's Fund was created under section 402 of the New York Not-For-Profit Corporation Law. The Raymar Children's Fund:
 
 -Solicits, receives, administers and disburses gifts and grants of money and property of every kind exclusively for tax exempt, charitable, scientific, literary and educational purposes
 
-Promotes the appreciation of philanthropy in children

-Contributes funds to other independent charitable agencies qualified as exempt organizations
 
-Provides children attending the William S. Covert School with enrichment experiences and programs
 
-Provides financial aid and assistance to any needy families of children attending the William S. Covert School