Fund for the Aged Inc

Analysis

Fund for the Aged Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1991, 35 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 December 2023, Fund for the Aged Inc reported income of $6.0m and spending of $11.0m, spending 185% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.8m to $6.0m (-32%), an average of -9.3% a year. The sharpest change came in the year to December 2022, when income dropped by 45%. Over the whole period it spent 173% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fund for the Aged Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include The Boston Foundation for Sight ($6.0m), United Methodist Childrens Home ($6.0m) and United Inner City Services ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% of the total. Other salaries and wages came to $767k. At year end it held assets of $94.2m against liabilities of $101k, net assets of $94.1m. It reported 9 employees.