Home For The Armenian Aged Inc
Home For The Armenian Aged Inc: Declining Revenue and Asset Trends Raise Concerns
EIN: 221659501 · Emerson, NJ · NTEE: P750 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $642K |
| Total Expenses | $254K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $576K |
| Transparency Score | 65/100 |
Is Home For The Armenian Aged Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Home For The Armenian Aged Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Home For The Armenian Aged Inc
Home For The Armenian Aged Inc (EIN: 221659501) is a nonprofit organization based in Emerson, NJ, classified under NTEE code P750. The organization reported total revenue of $642K and total assets of $583K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Home For The Armenian Aged Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Home For The Armenian Aged Inc is a small nonprofit that has been operating for 76 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -25.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $222K |
| Total Expenses | $254K |
| Surplus / Deficit | $-31,772 |
| Total Assets | $576K |
| Total Liabilities | $37 |
| Net Assets | $576K |
| Operating Margin | -14.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 27.3 months |
Financial Health Grade: B
In 2024, Home For The Armenian Aged Inc reported a deficit of $32K with expenses exceeding revenue, holds 27.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Home For The Armenian Aged Inc's revenue has declined at a compound annual growth rate (CAGR) of -25.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -10.1% | +13.6% | -6.2% |
| 2023 | -29.4% | -51.5% | +3.8% |
| 2022 | -93.8% | -91.5% | -35.8% |
| 2021 | -27.9% | -19.0% | -81.9% |
| 2020 | +11.3% | +6.0% | +34.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1950 |
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 Home For The Armenian Aged Inc with a Mission Score of 65 out of 100 (Good). 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, Home For The Armenian 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $32K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which is unusual for an organization of this size and could indicate a lack of transparency or reliance on volunteer leadership.
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 Home For The Armenian Aged Inc's IRS 990 filings:
- Dramatic and consistent decline in revenue over the past five years, from $7.7M in 2020 to $0.6M in 2024.
- Significant reduction in total assets, from $5.1M in 2020 to $0.58M in 2024, suggesting potential operational challenges or asset liquidation.
- Consistent reporting of $0 for officer, director, trustee, and key employee compensation across all years, which is highly uncommon and may obscure actual compensation practices.
- The organization's net assets have fluctuated significantly, with a notable drop in 2021 and continued decline.
Strengths
The following positive indicators were identified for Home For The Armenian Aged Inc:
- Historically, the organization managed substantial assets and revenue, indicating a past capacity for significant operations.
- The organization has maintained its legal status and continued filing, suggesting ongoing, albeit reduced, operations.
Frequently Asked Questions about Home For The Armenian Aged Inc
Is Home For The Armenian Aged Inc a legitimate charity?
Home For The Armenian Aged Inc (EIN: 221659501) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $642K. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Home For The Armenian Aged Inc spend its money?
Home For The Armenian Aged Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Home For The Armenian Aged Inc tax-deductible?
Home For The Armenian Aged Inc is registered as a tax-exempt nonprofit (EIN: 221659501). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Home For The Armenian Aged Inc CEO make?
Home For The Armenian Aged Inc's highest-compensated officer earns $0 annually. The organization reported $642K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Home For The Armenian Aged Inc's spending goes to programs?
Home For The Armenian Aged Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Home For The Armenian Aged Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Home For The Armenian Aged Inc is above average for NTEE category P750 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Home For The Armenian Aged Inc located?
Home For The Armenian Aged Inc is headquartered in Emerson, New Jersey and files with the IRS under EIN 221659501. It is classified under NTEE code P750.
How many years of IRS 990 filings does Home For The Armenian Aged Inc have?
Home For The Armenian 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 $642K in total revenue.
What does Home For The Armenian Aged Inc do?
Home For The Armenian Aged Inc is a nonprofit organization in the Human Services sector, located in Emerson, New Jersey. It is classified under NTEE code P750.
How much revenue does Home For The Armenian Aged Inc have?
Home For The Armenian Aged Inc reported total revenue of $641,879. Based on 13 IRS 990 filings on record.
What are Home For The Armenian Aged Inc's total assets?
Home For The Armenian Aged Inc holds total assets of $583,018 as reported in IRS 990 filings.
Where is Home For The Armenian Aged Inc located?
Home For The Armenian Aged Inc is based in Emerson, New Jersey.
What is Home For The Armenian Aged Inc's EIN?
Home For The Armenian Aged Inc's Employer Identification Number (EIN) is 221659501. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Home For The Armenian Aged Inc?
Home For The Armenian Aged Inc is classified under NTEE code P750 (Human Services).
Is Home For The Armenian Aged Inc a registered 501(c)(3)?
Yes, Home For The Armenian Aged Inc is recognized as a tax-exempt organization by the IRS. EIN: 221659501.
Does Home For The Armenian Aged Inc file IRS Form 990?
Yes, Home For The Armenian Aged Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202403.
What was Home For The Armenian Aged Inc's revenue in 2024?
In the 202403 filing period, Home For The Armenian Aged Inc reported total revenue of $221,744, total expenses of $253,516, and net assets of $575,912.
Is Home For The Armenian Aged Inc's revenue growing or declining?
Home For The Armenian Aged Inc's revenue is declining. Revenue went from $246,588 (202303) to $221,744 (202403), a -10.1% change. Based on 13 filings on record.
What is Home For The Armenian Aged Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Home For The Armenian Aged Inc covers tax period 202403. It shows revenue of $221,744, expenses of $253,516, total assets of $575,912, and liabilities of $37.
How much does Home For The Armenian Aged Inc spend on programs vs administration?
Based on IRS 990 analysis, Home For The Armenian Aged Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Home For The Armenian Aged Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Home For The Armenian Aged Inc shows mixed signals. Mission Score: 65/100 (Good). 4 red flags identified. 2 strengths noted.
What are the red flags for Home For The Armenian Aged Inc?
The following concerns were identified: Dramatic and consistent decline in revenue over the past five years, from $7.7M in 2020 to $0.6M in 2024.. Significant reduction in total assets, from $5.1M in 2020 to $0.58M in 2024, suggesting potential operational challenges or asset liquidation.. Consistent reporting of $0 for officer, director, trustee, and key employee compensation across all years, which is highly uncommon and may obscure actual compensation practices.. The organization's net assets have fluctuated significantly, with a notable drop in 2021 and continued decline.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Home For The Armenian Aged Inc's strengths?
Positive indicators for Home For The Armenian Aged Inc include: Historically, the organization managed substantial assets and revenue, indicating a past capacity for significant operations.. The organization has maintained its legal status and continued filing, suggesting ongoing, albeit reduced, operations.. These findings are derived from AI analysis of the organization's financial filings.
How does Home For The Armenian Aged Inc compensate executives?
Executive compensation is reported as $0 across all available filings, which is unusual for an organization of this size and could indicate a lack of transparency or reliance on volunteer leadership. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is the primary cause of the drastic decline in revenue and assets observed between 2020 and 2024?
The provided data does not specify the exact reasons for the decline, but such a significant drop often indicates a major change in funding sources, operational scope, or a strategic shift. Further investigation into their program activities and funding models would be necessary.
Given the reported $0 executive compensation, how does the organization manage its leadership and operational oversight?
A consistent report of $0 for executive compensation suggests either an entirely volunteer-run leadership structure, or that compensation is being reported under different categories or through related entities not immediately apparent in these filings. This practice can make it difficult to assess true administrative costs and leadership accountability.
Filing History
IRS 990 filing history for Home For The Armenian Aged Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Home For The Armenian Aged Inc's revenue has declined by 97%, moving from $7.3M to $222K. Total assets decreased by 77.4% over the same period, from $2.5M to $576K. Total functional expenses fell by 96.6%, from $7.4M to $254K. In its most recent filing year (2024), Home For The Armenian Aged Inc reported a deficit of $32K, with expenses exceeding revenue. The organization holds $37 in liabilities against $576K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $576K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $222K | $254K | $576K | $37 | — | — |
| 2023 | $247K | $223K | $614K | $6K | — | View 990 |
| 2022 | $349K | $460K | $591K | $10K | — | View 990 |
| 2021 | $5.6M | $5.4M | $922K | $229K | — | View 990 |
| 2020 | $7.8M | $6.7M | $5.1M | $629K | — | View 990 |
| 2019 | $7.0M | $6.3M | $3.8M | $368K | — | View 990 |
| 2018 | $5.6M | $5.4M | $3.1M | $337K | — | View 990 |
| 2017 | $6.3M | $6.4M | $3.0M | $364K | — | View 990 |
| 2016 | $7.5M | $7.0M | $3.3M | $380K | — | View 990 |
| 2015 | $7.6M | $7.6M | $3.1M | $614K | — | View 990 |
| 2014 | $7.2M | $7.0M | $3.0M | $498K | — | View 990 |
| 2013 | $6.8M | $6.6M | $2.8M | $504K | — | View 990 |
| 2012 | $7.3M | $7.4M | $2.5M | $456K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $222K, expenses of $254K, and assets of $576K (revenue -10.1% year-over-year).
- 2023: Revenue of $247K, expenses of $223K, and assets of $614K (revenue -29.4% year-over-year).
- 2022: Revenue of $349K, expenses of $460K, and assets of $591K (revenue -93.8% year-over-year).
- 2021: Revenue of $5.6M, expenses of $5.4M, and assets of $922K (revenue -27.9% year-over-year).
- 2020: Revenue of $7.8M, expenses of $6.7M, and assets of $5.1M (revenue +11.3% year-over-year).
- 2019: Revenue of $7.0M, expenses of $6.3M, and assets of $3.8M (revenue +23.6% year-over-year).
- 2018: Revenue of $5.6M, expenses of $5.4M, and assets of $3.1M (revenue -10.1% year-over-year).
- 2017: Revenue of $6.3M, expenses of $6.4M, and assets of $3.0M (revenue -16.1% year-over-year).
- 2016: Revenue of $7.5M, expenses of $7.0M, and assets of $3.3M (revenue -1.4% year-over-year).
- 2015: Revenue of $7.6M, expenses of $7.6M, and assets of $3.1M (revenue +5.7% year-over-year).
- 2014: Revenue of $7.2M, expenses of $7.0M, and assets of $3.0M (revenue +5.2% year-over-year).
- 2013: Revenue of $6.8M, expenses of $6.6M, and assets of $2.8M (revenue -6.5% year-over-year).
- 2012: Revenue of $7.3M, expenses of $7.4M, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Home For The Armenian Aged Inc:
Data Sources and Methodology
This transparency report for Home For The Armenian 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.