Association on Aging in New York

Analysis

Association on Aging in New York is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in May 1979, 47 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3).

In the financial year ending December 2023, Association on Aging in New York reported income of $2.9m and spending of $3.0m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $733k to $2.9m (+301%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 110%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Association on Aging in New York sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Central Okla Community Action Agency ($2.9m), Hindu University of America Inc ($2.9m) and Carolina Crown Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $132k (4.4% of expenses). Other salaries and wages came to $213k. At year end it held assets of $789k against liabilities of $631k, net assets of $157k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.