The Neag family continues to demonstrate its commitment to the school and university. Ray and Carole participate in a wide-range of UConn activities including the recent dedication of the school's new wing where they were particularly heartened to meet some of the students their philanthropy supports.
Ray Neag has been a valued and active member of the Neag School Dean's Advisory Board since its inception in 2000. In a display of gratitude, the University of Connecticut paid tribute to the philanthropist in 2001 by bestowing him with an honorary doctorate. He has been recognized by the Phi Delta Kappa, UConn Chapter as a PDK Fellow, and named Mentor of the Year by the Northeast Educational Research Association. He is an emeritus director of the UConn Foundation Board of Directors, having served from 1996 to 2001, and was vice chair of Campaign UConn. Ray and Carole are 1881 Circle lifetime members of the Founders Society, life members of the Alumni Association, and belong to the Charles Lewis Beach Society.
In 2004, the UConn Health Center received a $10 million commitment from the Neags to establish the Carole and Ray Neag Comprehensive Cancer Center. He also serves on the Leadership Advisory Committee for the Cardiology Signature Program.
Over the years, the Neags have supported their Pennsylvania community as well, with significant financial donations to the Children's Home of Reading, the public museum, community college and hospital.