Oldfields School Inc
- Assets
- $22.5m
- Revenue
- $7.8m
- Investments
- $3.6m
- Employees
- 77
- Location
- Sparks Glencoe, MD
- Founding
- 11/1938
- Data as of
- 06/2022
- EIN
- 52-0591645
Organization Overview
Oldfields School Inc is located in Sparks Glencoe, MD. The organization was established in 1938. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Oldfields School Inc employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oldfields School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Oldfields School Inc generated $7.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $10.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OLDFIELDS SCHOOL'S MISSION IS TO EMBRACE EACH STUDENT'S AUTHENTIC SELF, EDUCATE THROUGH COLLABORATION, EMPOWER THE INDIVIDUAL VOICE, AND INSPIRE CONFIDENCE AND CONTINUAL GROWTH, LEADING TO A LIFE OF PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1867, OLDFIELDS SCHOOL COMBINES TRADITION AND INNOVATION WHILE REMAINING TRUE TO ITS FUNDAMENTAL MOTTO, "COURAGE, HUMILITY, AND LARGENESS OF HEART." THE STUDENT BODY IS MADE UP OF A DIVERSE GROUP OF YOUNG WOMEN FROM ACROSS THE UNITED STATES AND AROUND THE GLOBE. APPROXIMATELY 75+ COURSES, INCLUDING HONORS COURSES, ADVANCED PLACEMENT PREPARATION, SPECIAL SEMINARS, MAY PROGRAM, AND ART ELECTIVES ARE OFFERED. EACH GIRL'S EDUCATION IS TAILORED TO HER ABILITIES WITH AN AVERAGE CLASS SIZE OF 8 STUDENTS AND A 5:1 STUDENT TO FACULTY RATIO. OLDFIELDS FOCUSES ON ENSURING "EACH GIRL'S SUCCESS." OLDFIELDS SCHOOL IS LOCATED ON 140 RURAL ACRES NESTLED IN THE SCENIC HORSE COUNTRY OF NORTH BALTIMORE COUNTY, MARYLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Palmer P'12 Chair | OfficerTrustee | 1 | $0 |
Carol Hubbell Engebretson '72 Vice-Chair | OfficerTrustee | 1 | $0 |
Scott S Menzies P'03 Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth Labrot '76 Secretary | OfficerTrustee | 1 | $0 |
Marney Babbitt-Pierce '04 Trustee | Trustee | 1 | $0 |
Jennevee Frias Crespo '01 Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Inc - Flik Food/dining Services | 6/29/22 | $523,059 |
Ppm-mid Atlantic Facilities/custodial | 6/29/22 | $573,298 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,005,592 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,003,747 |
| Noncash contributions included in lines 1a–1f | $192,827 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,009,339 |
| Total Program Service Revenue | $5,225,060 |
| Investment income | $49,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,787 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $540,748 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$5,994 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,831,863 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,998,290 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $449,393 |
| Compensation of current officers, directors, key employees. | $151,635 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,841,299 |
| Pension plan accruals and contributions | $79,745 |
| Other employee benefits | $339,174 |
| Payroll taxes | $240,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,148 |
| Fees for services: Accounting | $51,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,631 |
| Fees for services: Other | $1,545,348 |
| Advertising and promotion | $48,168 |
| Office expenses | $426,578 |
| Information technology | $133,339 |
| Royalties | $0 |
| Occupancy | $508,751 |
| Travel | $23,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,598 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $636,979 |
| Insurance | $184,775 |
| All other expenses | $76,973 |
| Total functional expenses | $10,100,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,823,470 |
| Savings and temporary cash investments | $638,798 |
| Pledges and grants receivable | $1,905,783 |
| Accounts receivable, net | $1,045,785 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $38,137 |
| Prepaid expenses and deferred charges | $109,998 |
| Net Land, buildings, and equipment | $11,804,768 |
| Investments—publicly traded securities | $1,150,125 |
| Investments—other securities | $3,628,363 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $326,384 |
| Total assets | $22,471,611 |
| Accounts payable and accrued expenses | $418,506 |
| Grants payable | $0 |
| Deferred revenue | $332,474 |
| Tax-exempt bond liabilities | $961,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $969,645 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,681,625 |
| Net assets without donor restrictions | $10,796,956 |
| Net assets with donor restrictions | $8,993,030 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,471,611 |