Council on Aging of West Florida Inc

Analysis

Council on Aging of West Florida Inc is a registered charity in United States, based in Pensacola, FL. It received its IRS tax-exemption ruling in June 1972, 54 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, Council on Aging of West Florida Inc reported income of $7.0m and spending of $7.3m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.2m to $7.0m (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2022, when income rose by 23%. Over the whole period it spent 104% 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 of West Florida Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include International School in Genoa ($7.0m), El Paso Center for Children Inc ($7.0m) and Central Minnesota Jobs and Training Services Inc ($7.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.7% of the total. Compensation of current officers, directors and key employees was $243k (3.3% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $2.1m against liabilities of $1.3m, net assets of $812k. It reported 70 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.