Old Elm Scholarship Foundation

Analysis

Old Elm Scholarship Foundation is a registered charity in United States, based in Highland Park, IL. It received its IRS tax-exemption ruling in October 1974, 52 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, Old Elm Scholarship Foundation reported income of $241k and spending of $506k, spending 210% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $259k to $241k (-7.0%), an average of -1.8% a year. The sharpest change came in the year to December 2021, when income rose by 251%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Old Elm Scholarship Foundation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within IL. Charities of a similar size with the same main cause include Blount County Rescue Squad ($241k), Inland Empire Regional Broadband Consortium ($241k) and N B C U S a Housing Inc Fifteen ($241k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% of the total. At year end it held assets of $3.6m against liabilities of $0, net assets of $3.6m.