Southeastern Minnesota Area Agency on Aging Inc

Analysis

Southeastern Minnesota Area Agency on Aging Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in January 1982, 44 years ago. 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, Southeastern Minnesota Area Agency on Aging Inc reported income of $6.6m and spending of $6.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.9m to $6.6m (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southeastern Minnesota Area Agency on Aging Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Norwood Avenue Housing Corporation ($6.6m), Boy Scouts of America ($6.6m) and Apostolic Christian Home of Roanoke Illinois Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $128k (1.9% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $2.0m against liabilities of $1.0m, net assets of $973k. It reported 24 employees.