Council on Aging in Union County

Analysis

Council on Aging in Union County is a registered charity in United States, based in Monroe, NC. It received its IRS tax-exemption ruling in November 1974, 52 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 June 2024, Council on Aging in Union County reported income of $1.8m and spending of $1.9m, spending 103% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $736k to $1.8m (+151%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Council on Aging in Union County sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Hospice of Green Country Inc ($1.8m), Lamar Area Hospice Association ($1.8m) and Milwaukee Public Library Foundation Inc ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 80% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $78k (4.1% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.6m against liabilities of $142k, net assets of $1.5m. It reported 37 employees.