The Oliver Scholars Program Inc

Analysis

The Oliver Scholars Program Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1985, 41 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Oliver Scholars Program Inc reported income of $2.5m and spending of $4.8m, spending 194% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $2.5m (+48%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 206% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Oliver Scholars Program Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Mandan Hockey Club Inc ($2.5m), Juniata Valley Tri-County Drug & Alcohol Abuse Commission ($2.5m) and Edward Foundation ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. Compensation of current officers, directors and key employees was $554k (11% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $26.9m against liabilities of $5.4m, net assets of $21.5m. It reported 59 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.