Old Baldy Foundation Inc

Analysis

Old Baldy Foundation Inc is a registered charity in United States, based in Bald Head Isl, NC. It received its IRS tax-exemption ruling in April 1990, 36 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 Baldy Foundation Inc reported income of $697k and spending of $337k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $446k to $697k (+56%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 327%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Old Baldy Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Seton Center Inc ($697k), Camp Ao-Wa-Kiya ($697k) and Servants to All ($697k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $57k (17% of expenses). Other salaries and wages came to $112k. At year end it held assets of $2.1m against liabilities of $284k, net assets of $1.8m. It reported 6 employees.