North Central Area Agency On Aging Inc
North Central Area Agency On Aging Inc: Strong Revenue Growth, Prudent Financial Management
EIN: 223059029 · Hartford, CT · NTEE: T99Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $11.2M |
| Total Expenses | $8.0M |
| Program Spending | 85% |
| Net Assets | $285K |
| Transparency Score | 85/100 |
Is North Central Area Agency On Aging Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
North Central Area Agency On Aging Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About North Central Area Agency On Aging Inc
North Central Area Agency On Aging Inc (EIN: 223059029) is a nonprofit organization based in Hartford, CT, classified under NTEE code T99Z. The organization reported total revenue of $11.2M and total assets of $4.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North Central Area Agency On Aging Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
North Central Area Agency On Aging Inc is a large nonprofit that has been operating for 31 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.0M |
| Total Expenses | $8.0M |
| Surplus / Deficit | +$0 |
| Total Assets | $2.1M |
| Total Liabilities | $1.8M |
| Net Assets | $285K |
| Operating Margin | 0.0% |
| Debt-to-Asset Ratio | 86.2% |
| Months of Reserves | 3.1 months |
Financial Health Grade: B
In 2023, North Central Area Agency On Aging Inc reported a surplus of $0 with revenue exceeding expenses, holds 3.1 months of operating reserves (adequate), has a debt-to-asset ratio of 86.2% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), North Central Area Agency On Aging Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +13.1% | +8.9% | -37.1% |
| 2022 | +8.1% | +13.2% | +76.8% |
| 2021 | +14.6% | +14.3% | -1.9% |
| 2020 | +3.0% | +3.3% | +41.9% |
| 2019 | +5.2% | +4.8% | +2.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 North Central Area Agency On Aging Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, North Central Area Agency On Aging Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $0, with revenue exceeding expenses.
- Debt-to-asset ratio: 86.2%.
Executive Compensation Analysis
Executive compensation cannot be assessed without specific compensation figures from the filings; the provided data only includes revenue, expenses, assets, and liabilities.
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.
Strengths
The following positive indicators were identified for North Central Area Agency On Aging Inc:
- Consistent revenue growth from $4.87M in 2017 to $11.17M in 2023, indicating strong program demand and fundraising.
- Healthy asset growth from $1.27M in 2017 to $4.66M in 2023, strengthening financial stability.
- Maintains a positive net asset position, with assets consistently exceeding liabilities.
- Efficient operations, with expenses generally in line with or slightly below revenue, demonstrating good financial control.
Frequently Asked Questions about North Central Area Agency On Aging Inc
Is North Central Area Agency On Aging Inc a legitimate charity?
North Central Area Agency On Aging Inc (EIN: 223059029) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $11.2M. No red flags identified. 4 strengths noted. Financial health grade: B.
How does North Central Area Agency On Aging Inc spend its money?
North Central Area Agency On Aging Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to North Central Area Agency On Aging Inc tax-deductible?
North Central Area Agency On Aging Inc is registered as a tax-exempt nonprofit (EIN: 223059029). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of North Central Area Agency On Aging Inc's spending goes to programs?
North Central Area Agency On Aging Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does North Central Area Agency On Aging Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), North Central Area Agency On Aging Inc is above average for NTEE category T99Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is North Central Area Agency On Aging Inc located?
North Central Area Agency On Aging Inc is headquartered in Hartford, Connecticut and files with the IRS under EIN 223059029. It is classified under NTEE code T99Z.
How many years of IRS 990 filings does North Central Area Agency On Aging Inc have?
North Central Area Agency On Aging Inc has 14 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 $11.2M in total revenue.
What does North Central Area Agency On Aging Inc do?
North Central Area Agency On Aging Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Hartford, Connecticut. It is classified under NTEE code T99Z.
How much revenue does North Central Area Agency On Aging Inc have?
North Central Area Agency On Aging Inc reported total revenue of $11,170,759. Based on 14 IRS 990 filings on record.
What are North Central Area Agency On Aging Inc's total assets?
North Central Area Agency On Aging Inc holds total assets of $4,661,524 as reported in IRS 990 filings.
Where is North Central Area Agency On Aging Inc located?
North Central Area Agency On Aging Inc is based in Hartford, Connecticut.
What is North Central Area Agency On Aging Inc's EIN?
North Central Area Agency On Aging Inc's Employer Identification Number (EIN) is 223059029. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is North Central Area Agency On Aging Inc?
North Central Area Agency On Aging Inc is classified under NTEE code T99Z (Philanthropy, Voluntarism & Grantmaking).
Is North Central Area Agency On Aging Inc a registered 501(c)(3)?
Yes, North Central Area Agency On Aging Inc is recognized as a tax-exempt organization by the IRS. EIN: 223059029.
Does North Central Area Agency On Aging Inc file IRS Form 990?
Yes, North Central Area Agency On Aging Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was North Central Area Agency On Aging Inc's revenue in 2023?
In the 202309 filing period, North Central Area Agency On Aging Inc reported total revenue of $7,955,393, total expenses of $7,955,393, and net assets of $2,065,601.
Is North Central Area Agency On Aging Inc's revenue growing or declining?
North Central Area Agency On Aging Inc's revenue is growing. Revenue went from $7,033,244 (202209) to $7,955,393 (202309), a +13.1% change. Based on 14 filings on record.
What is North Central Area Agency On Aging Inc's most recent 990 filing?
The most recent IRS Form 990 filing for North Central Area Agency On Aging Inc covers tax period 202309. It shows revenue of $7,955,393, expenses of $7,955,393, total assets of $2,065,601, and liabilities of $1,780,539.
How much does North Central Area Agency On Aging Inc spend on programs vs administration?
Based on IRS 990 analysis, North Central Area Agency On Aging Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is North Central Area Agency On Aging Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, North Central Area Agency On Aging Inc appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are North Central Area Agency On Aging Inc's strengths?
Positive indicators for North Central Area Agency On Aging Inc include: Consistent revenue growth from $4.87M in 2017 to $11.17M in 2023, indicating strong program demand and fundraising.. Healthy asset growth from $1.27M in 2017 to $4.66M in 2023, strengthening financial stability.. Maintains a positive net asset position, with assets consistently exceeding liabilities.. Efficient operations, with expenses generally in line with or slightly below revenue, demonstrating good financial control.. These findings are derived from AI analysis of the organization's financial filings.
How does North Central Area Agency On Aging Inc compensate executives?
Executive compensation cannot be assessed without specific compensation figures from the filings; the provided data only includes revenue, expenses, assets, and liabilities. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the significant revenue increase from $7.96M in 2023 to $11.17M in 2023?
The provided data shows a revenue of $7,955,393 for 202309 and $11,170,759 for the most recent period. This substantial increase suggests either a significant expansion of programs, new funding streams, or successful grant acquisition within that fiscal year.
How has the organization managed to maintain a 'c0%' compensation percentage across all reported years?
The 'c0%' likely indicates that executive compensation details are not captured in this specific data field or are reported elsewhere in the full Form 990, rather than implying zero compensation for all executives. A full Form 990 would be needed to assess actual compensation.
Filing History
IRS 990 filing history for North Central Area Agency On Aging Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), North Central Area Agency On Aging Inc's revenue has grown by 37.4%, moving from $5.8M to $8.0M. Total assets increased by 103.7% over the same period, from $1.0M to $2.1M. Total functional expenses rose by 37.4%, from $5.8M to $8.0M. In its most recent filing year (2023), North Central Area Agency On Aging Inc reported a surplus of $0, with revenue exceeding expenses. The organization holds $1.8M in liabilities against $2.1M in assets (debt-to-asset ratio: 86.2%), resulting in net assets of $285K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.0M | $8.0M | $2.1M | $1.8M | — | — |
| 2022 | $7.0M | $7.3M | $3.3M | $3.1M | — | — |
| 2021 | $6.5M | $6.5M | $1.9M | $1.4M | — | View 990 |
| 2020 | $5.7M | $5.6M | $1.9M | $1.5M | — | View 990 |
| 2019 | $5.5M | $5.5M | $1.3M | $948K | — | View 990 |
| 2018 | $5.2M | $5.2M | $1.3M | $958K | — | View 990 |
| 2017 | $4.9M | $4.8M | $1.3M | $931K | — | View 990 |
| 2016 | $5.4M | $5.3M | $1.4M | $1.1M | — | View 990 |
| 2015 | $5.6M | $5.6M | $1.2M | $999K | — | View 990 |
| 2014 | $5.5M | $5.5M | $1.0M | $830K | — | View 990 |
| 2013 | $5.3M | $5.3M | $1.3M | $1.2M | — | View 990 |
| 2012 | $5.3M | $5.3M | $1.2M | $979K | — | View 990 |
| 2011 | $5.7M | $5.7M | $1.2M | $1.0M | — | View 990 |
| 2010 | $5.8M | $5.8M | $1.0M | $831K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.0M, expenses of $8.0M, and assets of $2.1M (revenue +13.1% year-over-year).
- 2022: Revenue of $7.0M, expenses of $7.3M, and assets of $3.3M (revenue +8.1% year-over-year).
- 2021: Revenue of $6.5M, expenses of $6.5M, and assets of $1.9M (revenue +14.6% year-over-year).
- 2020: Revenue of $5.7M, expenses of $5.6M, and assets of $1.9M (revenue +3.0% year-over-year).
- 2019: Revenue of $5.5M, expenses of $5.5M, and assets of $1.3M (revenue +5.2% year-over-year).
- 2018: Revenue of $5.2M, expenses of $5.2M, and assets of $1.3M (revenue +7.5% year-over-year).
- 2017: Revenue of $4.9M, expenses of $4.8M, and assets of $1.3M (revenue -9.1% year-over-year).
- 2016: Revenue of $5.4M, expenses of $5.3M, and assets of $1.4M (revenue -4.2% year-over-year).
- 2015: Revenue of $5.6M, expenses of $5.6M, and assets of $1.2M (revenue +2.5% year-over-year).
- 2014: Revenue of $5.5M, expenses of $5.5M, and assets of $1.0M (revenue +3.7% year-over-year).
- 2013: Revenue of $5.3M, expenses of $5.3M, and assets of $1.3M (revenue -1.2% year-over-year).
- 2012: Revenue of $5.3M, expenses of $5.3M, and assets of $1.2M (revenue -5.8% year-over-year).
- 2011: Revenue of $5.7M, expenses of $5.7M, and assets of $1.2M (revenue -2.3% year-over-year).
- 2010: Revenue of $5.8M, expenses of $5.8M, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for North Central Area Agency On Aging Inc:
Data Sources and Methodology
This transparency report for North Central Area Agency On Aging 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.