Fund For The Aged Inc
- Assets
- $109.9m
- Revenue
- $9.0m
- Investments
- $44.8m
- Employees
- 15
- Location
- New York, NY
- Founding
- 12/1991
- Data as of
- 12/2020
- EIN
- 13-3603516
Organization Overview
Fund For The Aged Inc is located in New York, NY. The organization was established in 1991. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 12/2021, Fund For The Aged Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For The Aged Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Fund For The Aged Inc generated $9.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $12.5m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Fund For The Aged Inc has awarded 49 individual grants totaling $81,725,062. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO EMPOWER OLDER ADULTS TO ENHANCE PURPOSE AND WELL-BEING THROUGH A PORTFOLIO OF INNOVATIVE HEALTH CARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION CREATES MEANINGFUL PHILANTHROPIC PARTNERSHIPS WITH INDIVIDUAL DONORS, FOUNDATIONS, CORPORATIONS, AND AGENCIES. DONATIONS FUND A WIDE ARRAY OF PROGRAMS INCLUDING BUT NOT LIMITED TO PALLIATIVE CARE, VOLUNTEER SUPPORT, INTERGENERATIONAL YOUTH PROGRAMS, TECHNOLOGY INITIATIVES, DINNING ASSISTANCE, AND RELIGIOUS LIFE PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alyssa Herman Chief Development Officer | 37.5 | $301,399 | |
Tamar Major VP Of Development | 37.5 | $209,365 | |
Tamara Thompson Senior Director | 37.5 | $133,166 | |
Lauren Heger Leibowitz Donor Rel And Engmt Officer | 37.5 | $132,112 | |
Eve Marsan Director Of Special Events | 37.5 | $131,561 | |
Michael Luskin Chair | OfficerTrustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Core Z Operations Llc Consulting Services | 12/30/18 | $150,580 |
Manatt Phelps & Phillips Llp Consulting Services | 12/30/18 | $151,791 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,404,954 |
| Investment income | $811,050 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,973,570 |
| Net Income from Fundraising Events | -$217,096 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,972,478 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,155,050 |
| Pension plan accruals and contributions | $56,961 |
| Other employee benefits | $137,143 |
| Payroll taxes | $135,474 |
| Fees for services: Management | $54,258 |
| Fees for services: Legal | $7,228 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $336,427 |
| Fees for services: Other | $234,398 |
| Advertising and promotion | $31,984 |
| Office expenses | $21,728 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,534 |
| Travel | $4,427 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $155 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,478 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,535,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396,784 |
| Savings and temporary cash investments | $1,707,541 |
| Pledges and grants receivable | $1,705,570 |
| Accounts receivable, net | $22,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,746 |
| Investments—publicly traded securities | $60,571,917 |
| Investments—other securities | $44,798,848 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $201,800 |
| Total assets | $109,939,296 |
| Accounts payable and accrued expenses | $186,184 |
| Grants payable | $0 |
| Deferred revenue | $15,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,101,626 |
| Total liabilities | $2,302,810 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $107,636,486 |
Grants Awarded
Over the last fiscal year, Fund For The Aged Inc has awarded $4,234,789 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATIONS MISSION | $2,075,027 |
New York, NY PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATIONS MISSION | $1,032,671 |
New York, NY PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATIONS MISSION | $821,769 |
New York, NY PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATIONS MISSION | $284,160 |
New York, NY PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATIONS MISSION | $21,162 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Fund For The Aged Inc has recieved totaling $278,270.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $213,800 |
Joseph L And Ray L Freund Foundation Salem, VA PURPOSE: CHARITABLE | $18,770 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $9,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $8,000 |
Jackson Lewis Foundation West Harrison, NY PURPOSE: UNRESTRICTED SUPPORT OF THE ORGANIZATION'S EXEMPT PURPOSE | $7,500 |
United Way Miami Inc Miami, FL PURPOSE: GENERAL FUNDS | $5,700 |
Endowment Analysis
| Beg. Balance | $9,679,826 |
| Earnings | $1,232,058 |
| Net Contributions | $2,250 |
| Other Expense | $406,687 |
| Ending Balance | $10,507,447 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Social Finance Inc Boston, MA | $95,994,128 | $81,693,226 |
New York Womens Foundation New York, NY | $31,744,630 | $15,820,113 |
Ecumenical Enterprises Inc Dallas, PA | $29,362,494 | $14,819,334 |
Fund For The Aged Inc New York, NY | $109,939,296 | $8,972,478 |
Sdsn Association Inc New York, NY | $10,017,542 | $13,246,367 |
The Foundation For Enhancing Communities Harrisburg, PA | $107,592,484 | $47,434,480 |
Shear Family Foundation Inc Pittsburgh, PA | $193,925,105 | $4,615,784 |
Greater Ridgewood Youth Council Inc Ridgewood, NY | $6,525,051 | $8,713,714 |
Rite Aid Healthy Futures Camp Hill, PA | $33,191,715 | $15,687,011 |
Glasswing International Usa Inc New York, NY | $37,699,055 | $11,179,883 |
The Samberg Family Foundation Katonah, NY | $0 | $4,486,499 |
Single Stop Usa Inc New York, NY | $4,715,111 | $5,987,742 |