Golden Age Towers Inc

Analysis

Golden Age Towers Inc is a registered charity in United States, based in Rahway, NJ. It received its IRS tax-exemption ruling in December 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Golden Age Towers Inc reported income of $3.5m and spending of $3.2m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.0m to $3.5m (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2020, when income rose by 16%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Golden Age Towers Inc 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 90th percentile, and in the 91st percentile within NJ. Charities of a similar size with the same main cause include Neighborhood Service Center Inc ($3.5m), Hamilton County Area Neighborhood Development Inc ($3.5m) and Neighborworks Boise ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 94% of the total. At year end it held assets of $7.2m against liabilities of $361k, net assets of $6.8m.