Heritage Area Agency on Aging

Analysis

Heritage Area Agency on Aging is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in November 2018, 8 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 June 2023, Heritage Area Agency on Aging reported income of $4.4m and spending of $4.4m, spending 101% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $7.9m to $4.4m (-44%), an average of -18% a year. The sharpest change came in the year to June 2023, when income dropped by 32%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heritage Area Agency on Aging sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include Young Mens Christian Association Camp Belknap ($4.4m), Youth Exploring Adventure Inc ($4.4m) and Building on Dreams ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $341k (7.8% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.0m against liabilities of $335k, net assets of $1.6m. It reported 25 employees.