AARP FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1961

Legal Domicile

Principal Officer

CLAIRE CASEY

Phone

2024343399

Tax Period

2024-01-01 to 2024-12-31

AARP FOUNDATION, founded in 1961, is a major nonprofit in the Human Services sector that reported $202.9M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $194.4M left a modest 4% surplus.

Mission

AARP FOUNDATION CREATES AND ADVANCES EFFECTIVE SOLUTIONS TO REDUCE POVERTY FOR AND WITH OLDER ADULTS.SEE SCHEDULE OAARP FOUNDATION (THE "FOUNDATION") WORKS FOR AND WITH VULNERABLE PEOPLE OVER 50 TO END SENIOR POVERTY AND REDUCE FINANCIAL HARDSHIP BY BUILDING ECONOMIC OPPORTUNITY. AS A CHARITABLE AFFILIATE OF AARP, THE FOUNDATION SERVES AARP MEMBERS AND NONMEMBERS ALIKE. THROUGH VIGOROUS LEGAL ADVOCACY AND EVIDENCE-BASED SOLUTIONS, AND BY STRENGTHENING SUPPORTIVE COMMUNITY CONNECTIONS, THE FOUNDATION FOSTERS RESILIENCE AND RESTORES HOPE.

Program Service Accomplishments

Program 1

Expenses: $97,059,898 Revenue: $0

ECONOMIC MOBILITY PROGRAMS PROVIDE DIRECT SERVICES NATIONWIDE TO OLDER ADULTS WITH LOW INCOME WHO ARE SEEKING TRAINING AND EMPLOYMENT. THIS INCLUDES THE SENIOR COMMUNITY SERVICE EMPLOYMENT PROGRAM...

ECONOMIC MOBILITY PROGRAMS PROVIDE DIRECT SERVICES NATIONWIDE TO OLDER ADULTS WITH LOW INCOME WHO ARE SEEKING TRAINING AND EMPLOYMENT. THIS INCLUDES THE SENIOR COMMUNITY SERVICE EMPLOYMENT PROGRAM (SCSEP), BACK TO WORK 50+, AND OTHER WORKFORCE DEVELOPMENT INITIATIVES, WHICH CONNECT UNEMPLOYED ADULTS AGE 55 AND OLDER WITH TRAINING OPPORTUNITIES, SKILL-BUILDING EXPERIENCES, AND EMPLOYMENT PATHWAYS THROUGH PARTNERSHIPS WITH LOCAL NON-PROFITS, PUBLIC AGENCIES, AND EMPLOYERS.

Program 2

Expenses: $23,269,613 Revenue: $221,971

VOLUNTEER PROGRAMS PROVIDE SUPPORT FOR TEAMS OF VOLUNTEERS THAT HELP OLDER ADULTS WITH LOW INCOME AND BRING A SENSE OF PURPOSE BACK INTO THE LIVES OF OLDER ADULT VOLUNTEERS. THIS INCLUDES AARP...

VOLUNTEER PROGRAMS PROVIDE SUPPORT FOR TEAMS OF VOLUNTEERS THAT HELP OLDER ADULTS WITH LOW INCOME AND BRING A SENSE OF PURPOSE BACK INTO THE LIVES OF OLDER ADULT VOLUNTEERS. THIS INCLUDES AARP FOUNDATION TAX-AIDE, WHICH RELIES ON MORE THAN 28,000 VOLUNTEERS NATIONWIDE TO PROVIDE FREE TAX PREPARATION AND FILING ASSISTANCE, ESPECIALLY TO OLDER ADULTS WITH LOW TO MODERATE INCOME. TAX-AIDE VOLUNTEERS ARE TRAINED AND IRS-CERTIFIED ANNUALLY AND TYPICALLY HELP TAXPAYERS RECEIVE CLOSE TO $1 BILLION IN REFUNDS AND CREDITS EVERY YEAR. ADDITIONAL PROGRAMS INCLUDE EXPERIENCE CORPS, A COMMUNITY-BASED, PROGRAM THAT ENGAGES HIGHLY TRAINED VOLUNTEERS OVER 50 AS TUTORS AND MENTORS TO HELP K-3 STUDENTS BECOME BETTER READERS BY THE END OF THIRD GRADE.

Program 3

Expenses: $6,598,447 Revenue: $0

LITIGATION PROGRAMS ENGAGE IN LITIGATION TO ENSURE THAT OLDER ADULTS HAVE A VOICE AND PROPER REPRESENTATION IN THE LEGAL SYSTEM. THE FOUNDATION'S ATTORNEYS FILE AND SUPPORT LAWSUITS THAT HAVE A...

LITIGATION PROGRAMS ENGAGE IN LITIGATION TO ENSURE THAT OLDER ADULTS HAVE A VOICE AND PROPER REPRESENTATION IN THE LEGAL SYSTEM. THE FOUNDATION'S ATTORNEYS FILE AND SUPPORT LAWSUITS THAT HAVE A SIGNIFICANT IMPACT ON SENIOR POVERTY BY REDUCING BARRIERS TO EMPLOYMENT, INCREASING ACCESS TO PUBLIC AND PRIVATE BENEFITS, AND PROTECTING CONSUMERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $161,702,645

Program Service Revenue $382,911

Investment Income $40,788,745

Other Revenue $57,832

TOTAL REVENUE $202,932,133

Expense Breakdown

Grants Paid $78,892,484

Salaries & Benefits $46,368,884

Fundraising Expenses $23,872,543

Program Expenses $152,239,405

Other Expenses $67,449,933

TOTAL EXPENSES $194,382,273

Year-over-Year Comparison

	2024	2023	Change
Revenue	$202,932,133	$175,249,637	+0.2%
Expenses	$194,382,273	$191,925,498	+0.0%
Net Income	$8,549,860	$-16,675,861	-1.5%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

368

Volunteers

29055

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,572,429

Total Directors

$609,321

Key Employees

$1,751,141

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROSANNA MARQUEZ	BOARD MEMBER	3.00	Director	$0	$0	$913
BETTY J HUDSON	BOARD MEMBER	3.00	Director	$0	$0	$0
NOREEN GILLEN	BOARD MEMBER	3.00	Director	$0	$0	$0
GREGORY J DYSON	BOARD MEMBER	3.00	Director	$0	$0	$0
ELAINE BOLTZ	BOARD MEMBER	3.00	Director	$0	$0	$0
SAILESH CHUTANI	BOARD MEMBER	3.00	Director	$0	$0	$0
ROBERT BLANCATO	BOARD MEMBER	3.00	Director	$0	$0	$0
PATRICIA BANKS	BOARD MEMBER	3.00	Director	$0	$0	$0
LOFTON HOLDER	BOARD MEMBER (AS OF 9/2024)	3.00	Director	$0	$0	$0
BETH CHANDLER	BOARD MEMBER (AS OF 9/2024)	3.00	Director	$0	$0	$0
ANN G DAW	BOARD MEMBER (UNTIL 6/2024)	3.00	Director	$0	$0	$0
LIBBY SARTAIN	CHAIR	6.00	Director	$0	$0	$0
CLAIRE CASEY	PRESIDENT	40.00	Officer Director	$490,291	$57,076	$608,408
SUSAN WERTH	VICE CHAIR (AS OF 6/2024)	3.00	Director	$0	$0	$0
DIANE D MILLER	VICE CHAIR (UNTIL 6/2024)	3.00	Director	$0	$0	$0
PATRICIA D SHANNON	CFO & SENIOR VICE PRESIDENT	40.00	Officer	$492,831	$64,466	$557,297
JAMI WYATT	SECRETARY	1.00	Officer	$0	$73,612	$406,724
ALEXANDER VAN KEMENADE	SVP - IMPACT & ANALYTICS (AS OF 8/19/24)	40.00	Key Emp	$194,327	$7,575	$201,902
WILLIAM A RIVERA	SVP - LITIGATION	40.00	Key Emp	$363,132	$48,456	$421,993
BRITTANY FEINSON	SVP - MARKETING & COMMUNICATIONS	40.00	Key Emp	$338,169	$76,378	$414,547
EMILY S ALLEN	SVP - PROGRAMS	40.00	Key Emp	$386,451	$57,723	$444,174
SHELLEY GOODE	SVP & CHIEF DEV OFFICER (AS OF 4/1/24)	40.00	Key Emp	$225,856	$42,669	$268,525
MINDY FELDBAUM	DIRECTOR - PROGRAMS	40.00	Highest	$284,680	$40,456	$325,136
STEPHEN VENUTE	VP - CORP & FDN RELS (UNTIL 11/4/24)	40.00	Highest	$300,886	$46,132	$347,018
DEMETRIOS ANTZOULATOS	VP - FINANCE, GRANTS, & OPS	40.00	Highest	$320,498	$71,849	$392,347
MARC MCDONALD	VP - INTEGRATION (UNTIL 4/12/24)	40.00	Highest	$317,264	$11,422	$328,686
KELLY BAGBY	VP - LITIGATION	40.00	Highest	$296,136	$57,613	$356,107

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$202,932,133	$194,382,273	$727,968,863	$8,549,860
2023	$175,249,637	$191,925,498	$693,172,214	$-16,675,861
2022	$203,216,966	$195,405,209	$662,653,314	$7,811,757
2021	$254,163,099	$181,584,159	$703,184,035	$72,578,940
2020	$186,546,543	$173,261,974	$636,519,309	$13,284,569
2019	$295,801,954	$187,425,925	$598,934,811	$108,376,029
2018	$282,082,741	$170,923,640	$439,330,745	$111,159,101