Schofield Foundation

Analysis

Schofield Foundation is a registered charity in United States, based in Kenmore, NY. It received its IRS tax-exemption ruling in August 1983, 43 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, Schofield Foundation reported income of $54k and spending of $195k, spending 357% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $272k to $54k (-80%), an average of -42% a year. The sharpest change came in the year to December 2022, when income rose by 99%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Schofield Foundation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within NY. Charities of a similar size with the same main cause include Asians Are Strong Inc ($54k), Altrusa International of Richardson Foundation Inc ($54k) and Highland High School Instrumental Music Booster Club ($54k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $626k against liabilities of $221k, net assets of $405k.