Fund For The Aged Inc
Fund For The Aged Inc faces significant financial challenges with consistent operating deficits and declining assets.
EIN: 133603516 · New York, NY · NTEE: P120 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $69.6M |
| Total Expenses | $11.0M |
| Program Spending | 75% |
| Net Assets | $94.1M |
| Transparency Score | 45/100 |
Is Fund For The Aged Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fund For The Aged Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fund For The Aged Inc
Fund For The Aged Inc (EIN: 133603516) is a nonprofit organization based in New York, NY, classified under NTEE code P120. The organization reported total revenue of $69.6M and total assets of $95.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fund For The Aged Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fund For The Aged Inc is a major nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.0M |
| Total Expenses | $11.0M |
| Surplus / Deficit | $-5,048,840 |
| Total Assets | $94.2M |
| Total Liabilities | $101K |
| Net Assets | $94.1M |
| Operating Margin | -84.7% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 102.7 months |
Financial Health Grade: B
In 2023, Fund For The Aged Inc reported a deficit of $5.0M with expenses exceeding revenue, holds 102.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Fund For The Aged Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.4% | +13.7% | -2.9% |
| 2022 | -44.8% | +55.7% | -13.8% |
| 2021 | +3.5% | -50.4% | +2.5% |
| 2020 | +2.0% | -52.7% | +0.3% |
| 2019 | +0.8% | +72.5% | -13.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Fund For The Aged Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Fund For The Aged Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a strong positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Fund For The Aged Inc's IRS 990 filings:
- Consistent operating deficits (e.g., $5.05M deficit in 2023, $4.56M deficit in 2022)
- Significant decline in assets over time (from $133M in 2016 to $94M in 2023)
- Liabilities exceeding assets in 2023 ($100.8M liabilities vs. $94.2M assets)
- High expense-to-revenue ratio in recent years
Strengths
The following positive indicators were identified for Fund For The Aged Inc:
- 0% officer compensation reported across all available filings, indicating efficient use of funds for leadership.
- Long filing history (13 filings) suggests consistent reporting.
Frequently Asked Questions about Fund For The Aged Inc
Is Fund For The Aged Inc a legitimate charity?
Fund For The Aged Inc (EIN: 133603516) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 45/100. It has 13 years of IRS 990 filings on record. Total revenue: $69.6M. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Fund For The Aged Inc spend its money?
Fund For The Aged Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Fund For The Aged Inc tax-deductible?
Fund For The Aged Inc is registered as a tax-exempt nonprofit (EIN: 133603516). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Fund For The Aged Inc's spending goes to programs?
Fund For The Aged Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Fund For The Aged Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Fund For The Aged Inc is near average for NTEE category P120 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Fund For The Aged Inc located?
Fund For The Aged Inc is headquartered in New York, New York and files with the IRS under EIN 133603516. It is classified under NTEE code P120.
How many years of IRS 990 filings does Fund For The Aged Inc have?
Fund For The Aged Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $69.6M in total revenue.
Is Fund For The Aged Inc financially sustainable?
The organization's financial sustainability is questionable given its consistent operating deficits, with expenses exceeding revenue in most recent years (e.g., $11M expenses vs. $5.9M revenue in 2023). This trend, coupled with declining assets and increasing liabilities, suggests a challenging financial outlook.
Why are the liabilities so high in 2023?
In 2023, the organization reported liabilities of $100,877,000, which significantly exceeds its assets of $94,234,693. This level of liabilities is a major concern and warrants further investigation into the nature of these obligations.
What caused the significant drop in assets since 2016?
Assets have decreased substantially from $133,286,152 in 2016 to $94,234,693 in 2023. This decline, alongside consistent operating deficits, suggests that the organization may be drawing down its reserves to cover expenses or has experienced significant investment losses.
Filing History
IRS 990 filing history for Fund For The Aged Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fund For The Aged Inc's revenue has grown by 53.7%, moving from $3.9M to $6.0M. Total assets increased by 16.1% over the same period, from $81.2M to $94.2M. Total functional expenses rose by 43.4%, from $7.7M to $11.0M. In its most recent filing year (2023), Fund For The Aged Inc reported a deficit of $5.0M, with expenses exceeding revenue. The organization holds $101K in liabilities against $94.2M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $94.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.0M | $11.0M | $94.2M | $101K | — | View 990 |
| 2022 | $5.1M | $9.7M | $97.1M | $750K | — | View 990 |
| 2021 | $9.3M | $6.2M | $112.7M | $841K | — | View 990 |
| 2020 | $9.0M | $12.5M | $109.9M | $2.3M | — | View 990 |
| 2019 | $8.8M | $26.5M | $109.6M | $3.0M | — | — |
| 2018 | $8.7M | $15.4M | $126.4M | $6.8M | — | View 990 |
| 2017 | $9.1M | $15.0M | $131.6M | $1.3M | — | View 990 |
| 2016 | $7.4M | $7.7M | $133.3M | $1.8M | — | View 990 |
| 2015 | $11.6M | $13.8M | $79.4M | $1.4M | — | View 990 |
| 2014 | $12.0M | $17.9M | $88.6M | $2.3M | — | View 990 |
| 2013 | $13.7M | $16.1M | $93.4M | $3.8M | — | View 990 |
| 2012 | $11.0M | $8.0M | $89.9M | $4.6M | — | View 990 |
| 2011 | $3.9M | $7.7M | $81.2M | $4.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.0M, expenses of $11.0M, and assets of $94.2M (revenue +16.4% year-over-year).
- 2022: Revenue of $5.1M, expenses of $9.7M, and assets of $97.1M (revenue -44.8% year-over-year).
- 2021: Revenue of $9.3M, expenses of $6.2M, and assets of $112.7M (revenue +3.5% year-over-year).
- 2020: Revenue of $9.0M, expenses of $12.5M, and assets of $109.9M (revenue +2.0% year-over-year).
- 2019: Revenue of $8.8M, expenses of $26.5M, and assets of $109.6M (revenue +0.8% year-over-year).
- 2018: Revenue of $8.7M, expenses of $15.4M, and assets of $126.4M (revenue -4.4% year-over-year).
- 2017: Revenue of $9.1M, expenses of $15.0M, and assets of $131.6M (revenue +24.0% year-over-year).
- 2016: Revenue of $7.4M, expenses of $7.7M, and assets of $133.3M (revenue -36.4% year-over-year).
- 2015: Revenue of $11.6M, expenses of $13.8M, and assets of $79.4M (revenue -3.8% year-over-year).
- 2014: Revenue of $12.0M, expenses of $17.9M, and assets of $88.6M (revenue -12.4% year-over-year).
- 2013: Revenue of $13.7M, expenses of $16.1M, and assets of $93.4M (revenue +25.3% year-over-year).
- 2012: Revenue of $11.0M, expenses of $8.0M, and assets of $89.9M (revenue +182.3% year-over-year).
- 2011: Revenue of $3.9M, expenses of $7.7M, and assets of $81.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fund For The Aged Inc:
Data Sources and Methodology
This transparency report for Fund For The Aged Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.