Old Dominion Athletic Foundation

Analysis

Old Dominion Athletic Foundation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in August 1964, 62 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 Dominion Athletic Foundation reported income of $8.5m and spending of $12.4m, spending 145% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $11.4m to $8.5m (-25%), an average of -7.0% a year. The sharpest change came in the year to December 2022, when income rose by 117%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Old Dominion Athletic Foundation sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include American Indian Higher Education Consortium ($8.5m), The Arc of Anchorage ($8.6m) and Bok Tower Gardens Inc ($8.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $70.5m against liabilities of $204k, net assets of $70.3m.