Center for Aging Inc

Analysis

Center for Aging Inc is a registered charity in United States, based in Freehold, NJ. It received its IRS tax-exemption ruling in November 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Center for Aging Inc reported income of $30.1m and spending of $30.5m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $26.7m to $30.1m (+13%), an average of +3.0% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Center for Aging Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include St James Place of Baton Rouge ($30.1m), Help of Southern Nevada ($30.1m) and Accessible Space Inc ($30.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.9% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $254k (0.8% of expenses). Other salaries and wages came to $11.4m. At year end it held assets of $82.6m against liabilities of $77.9m, net assets of $4.7m. It reported 274 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.