Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $78,543

• 1d · Related organizations

  $1,327,259

• 1e · Government grants (contributions)

  $99,683,634

• 1f · All other contributions, gifts and grants

  $58,847,129

• 1g · Noncash contributions included above

  $161,993

• 2f · All other program service revenue

  total $433,652 · related or exempt $433,652

• 3 · Investment income

  total $5,197,284 · unrelated business $161,147 · excluded $5,036,137

• 7a · Gross sales of assets other than inventory

  securities $353,272,172

• 7b · Less cost or other basis and sales expenses

  securities $344,021,312

• 7c · Gain or loss

  securities $9,250,860

• 7d · Net gain or loss

  total $9,250,860 · unrelated business $160,256 · excluded $9,090,604

• 11a · Other revenue: Miscellaneous income

  total $407,620 · excluded $407,620

• 11b · Other revenue: CGA severance/change in value

  total $23,656 · excluded $23,656

• 11e · Other revenue, total

  $431,276

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $11,659,269 · program services $11,659,269

• 2 · Grants to domestic individuals

  total $65,496,782 · program services $65,496,782

• 5 · Compensation of officers, directors and key employees

  total $2,379,018 · program services $764,520 · management and general $943,673 · fundraising $670,825

• 7 · Other salaries and wages

  total $34,907,772 · program services $24,737,721 · management and general $5,922,379 · fundraising $4,247,672

• 8 · Pension plan contributions

  total $1,214,360 · program services $827,226 · management and general $222,157 · fundraising $164,977

• 9 · Other employee benefits

  total $4,061,226 · program services $2,871,757 · management and general $825,796 · fundraising $363,673

• 10 · Payroll taxes

  total $2,490,853 · program services $1,661,423 · management and general $483,462 · fundraising $345,968

• 11b · Fees: legal

  total $553,317 · program services $553,317

• 11c · Fees: accounting

  total $173,000 · management and general $173,000

• 11e · Fees: professional fundraising services

  total $1,936,330 · fundraising $1,936,330

• 11f · Fees: investment management

  total $3,274,215 · management and general $3,274,215

• 11g · Fees: other

  total $14,576,967 · program services $10,067,043 · management and general $3,580,750 · fundraising $929,174

• 12 · Advertising and promotion

  total $3,997,222 · program services $1,605,355 · management and general $1,557,428 · fundraising $834,439

• 13 · Office expenses

  total $1,453,179 · program services $1,414,588 · management and general $22,981 · fundraising $15,610

• 14 · Information technology

  total $7,021,284 · program services $6,048,013 · management and general $523,181 · fundraising $450,090

• 16 · Occupancy

  total $3,359,123 · program services $2,959,721 · management and general $212,730 · fundraising $186,672

• 17 · Travel

  total $2,038,872 · program services $1,688,801 · management and general $168,082 · fundraising $181,989

• 19 · Conferences, conventions and meetings

  total $410,013 · program services $436,303 · management and general -$26,290

• 20 · Interest

  total $837,088 · program services $456,149 · management and general $202,764 · fundraising $178,175

• 22 · Depreciation, depletion and amortization

  total $1,311,950 · program services $715,487 · management and general $317,482 · fundraising $278,981

• 24a · Other expenses: Printing & postage

  total $20,830,068 · program services $6,525,565 · management and general $11,984 · fundraising $14,292,519

• 24b · Other expenses: Volunteer expenses

  total $4,150,722 · program services $4,059,483 · management and general $91,239

• 24c · Other expenses: Telecommunication expen

  total $2,405,716 · program services $2,337,116 · management and general $34,269 · fundraising $34,331

• 24d · Other expenses: Taxes & Licenses

  total $433,940 · program services $268,202 · management and general $63,616 · fundraising $102,122

• 24e · All other expenses

  total $953,212 · program services $712,878 · management and general $118,103 · fundraising $122,231

• 26 · Joint costs (an allocation of the lines above)

  total $16,024,201 · program services $4,891,339 · management and general $0 · fundraising $11,132,862

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,328,296 · end of year $2,682,897

• 2 · Savings and temporary cash investments

  beginning of year $7,234,612 · end of year $7,414,940

• 3 · Pledges and grants receivable

  beginning of year $13,222,990 · end of year $13,386,038

• 4 · Accounts receivable

  beginning of year $193

• 9 · Prepaid expenses and deferred charges

  beginning of year $997,938 · end of year $786,877

• 10a · Land, buildings and equipment: cost or other basis

  $29,753,187

• 10b · Land, buildings and equipment: accumulated depreciation

  $20,557,288

• 10c · Land, buildings and equipment, net

  beginning of year $10,452,344 · end of year $9,195,899

• 11 · Investments: publicly traded securities

  beginning of year $287,072,370 · end of year $330,281,615

• 12 · Investments: other securities

  beginning of year $336,318,235 · end of year $325,740,066

• 13 · Investments: program-related

  beginning of year $4,824,969 · end of year $3,499,775

• 14 · Intangible assets

  beginning of year $201,367 · end of year $184,107

• 17 · Accounts payable and accrued expenses

  beginning of year $22,010,798 · end of year $21,260,063

• 18 · Grants payable

  beginning of year $10,038,045 · end of year $8,422,291

• 20 · Tax-exempt bond liabilities

  beginning of year $25,000,000 · end of year $25,000,000

• 25 · Other liabilities

  beginning of year $3,185,224 · end of year $2,896,767

• 27 · Net assets without donor restrictions

  beginning of year $147,112,691 · end of year $159,599,065

• 28 · Net assets with donor restrictions

  beginning of year $455,306,556 · end of year $475,994,028

The filer's explanations (Part III)

Part I, Line 4a

In 2023, David Whitehead received a severance payment in the amount of $303,546.44.

Part I, Line 5

AARP Foundation participates in AARP's enterprise-wide compensation plan. Under that compensation plan, numerous organizational factors are considered in employee compensation, one of which is gross revenue of AARP and its affiliates.

Part I, Line 1A:

All non-employee officers and directors for AARP Foundation serve on a volunteer basis and are not compensated for their generous commitment to AARP Foundation. The officers, directors, and key employees are reimbursed by AARP Foundation for travel and subsistence costs incurred in carrying out their duties. Board members Libby Sartain, Robert Blancato, Margo James Copeland, and Rosanna Marquez sit on both the AARP, Inc. board and the AARP Foundation board. AARP, Inc. pays all spouse/companion travel expenses for these board members and issues the required 1099-MISC with the applicable income tax gross-up payment.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• AARP Financial Services Corporation

  C · Real estate holding company · DE

  Directly controlled by AARP

• AARP Services Inc (consolidated)

  C · Qualtiy control and research · DE

  Directly controlled by AARP

• The H Wayne and Anne D Barbetti Charitable Remainder Unitrust

  T · Charitable remainder trust · NJ