Orange fungi encircling deciduous tree
There is a ring of bright orange fungi about 4' from a tulip tree in my yard. I'm trying to ID the fungi so I can at least google the issue but they don't seem to be jelly fungi since they are not gelatinous. I have hit a dead end. I'm hoping they are living on decaying organic matter and not indicating a systemic problem with the tree. Thanks for ID help!
This is Aleuria aurantia, the "Orange peel" cup fungus. It is not a parasite.