Agespan Inc

Analysis

Agespan Inc is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in March 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Agespan Inc reported income of $114.3m and spending of $112.6m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $75.6m to $114.3m (+51%), an average of +11% a year. The sharpest change came in the year to June 2020, when income rose by 30%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Agespan Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Hospice of the Florida Suncoast Inc ($114.1m), Council on Aging of Southwestern Ohio ($115.5m) and Central Florida Cares Health System Inc ($114.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $503k (0.4% of expenses). Other salaries and wages came to $27.7m. At year end it held assets of $52.3m against liabilities of $22.0m, net assets of $30.3m. It reported 592 employees.