Anchor-Age Center Inc

Analysis

Anchor-Age Center Inc is a registered charity in United States, based in Anchorage, AK. It received its IRS tax-exemption ruling in December 1940, 86 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, Anchor-Age Center Inc reported income of $2.0m and spending of $2.1m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $2.0m (+9.5%), an average of +2.3% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Anchor-Age Center Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within AK. Charities of a similar size with the same main cause include Institute for Indo-Pacific Security ($2.0m), Opportunities for Hope Inc ($2.0m) and Star of Hope Ministries Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $213k (9.9% of expenses). Other salaries and wages came to $789k. At year end it held assets of $6.4m against liabilities of $200k, net assets of $6.2m. It reported 38 employees.