Aeon

Analysis

Aeon is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 1986, 40 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 (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, Aeon reported income of $35.9m and spending of $74.9m, spending 208% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.1m to $35.9m (+137%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 127%. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Aeon sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Haven for Hope of Bexar County ($35.7m), Enterprise Community Loan Fund Inc ($36.1m) and Orlando Lutheran Towers Inc ($35.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $930k (1.2% of expenses). Other salaries and wages came to $9.0m. It paid $30k in professional fundraising fees. At year end it held assets of $165.8m against liabilities of $215.5m, net assets of -$49.7m. It reported 349 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.