Metropolitan Area Agency on Aging Inc

Analysis

Metropolitan Area Agency on Aging Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 1994, 32 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Metropolitan Area Agency on Aging Inc reported income of $23.7m and spending of $24.0m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $17.6m to $23.7m (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2020, when income rose by 43%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Metropolitan Area Agency on Aging Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Economic Opportunities Advancement Corporation of Planning Region XI ($23.7m), People Inc ($23.7m) and Moka Corporation ($23.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $568k (2.4% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $7.7m against liabilities of $5.3m, net assets of $2.5m. It reported 132 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.