Oldfields School Inc

Analysis

Oldfields School Inc is a registered charity in United States, based in Sparks Glenco, MD. It received its IRS tax-exemption ruling in November 1938, 88 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Oldfields School Inc reported income of $6.8m and spending of $10.4m, spending 152% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.9m to $6.8m (-14%), an average of -3.8% a year. The sharpest change came in the year to June 2020, when income rose by 66%. Over the whole period it spent 114% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Oldfields School Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within MD. Charities of a similar size with the same main cause include Sierra Charter School ($6.8m), Christian Education Incorporated ($6.8m) and Voices for International Business & Education ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $238k (2.3% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $17.7m against liabilities of $1.5m, net assets of $16.1m. It reported 89 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.