AARP Foundation Company Profile

Background

AARP Foundation is a nonprofit organization dedicated to creating and advancing effective solutions to reduce poverty among older adults. As the charitable affiliate of AARP, the Foundation focuses on ensuring that vulnerable seniors have access to essential resources and opportunities, enabling them to age with dignity and purpose. The Foundation's mission is to build a future without senior poverty, emphasizing economic opportunity and social connectedness for older adults.

Key Strategic Focus

AARP Foundation's strategic initiatives are centered on:

Simplifying Access to Benefits: Assisting older adults in navigating and obtaining public benefits to which they are entitled.

Empowering Older Workers: Providing job training and employment opportunities to enhance financial stability.

Maximizing Refunds and Tax Credits: Offering free tax preparation services to ensure seniors receive all eligible refunds and credits.

Building Strong Social Connections: Developing programs to reduce social isolation and promote community engagement.

Legal Advocacy: Engaging in litigation to protect the rights and interests of older adults, particularly those with low income.

These initiatives aim to address the multifaceted challenges faced by older adults living in poverty.

Financials and Funding

In the fiscal year ending December 31, 2023, AARP Foundation reported:

Total Revenue: $175,249,637

Total Expenses: $191,925,498

Net Assets: $635,593,093

The primary sources of revenue included contributions ($159,936,565), investment income ($5,197,284), and sales of assets ($9,250,860). The Foundation's financial health is underscored by a Four-Star rating from Charity Navigator, reflecting strong accountability and financial practices.

Pipeline Development

AARP Foundation implements several key programs:

Tax-Aide Program: Provides free tax preparation assistance to seniors, ensuring they receive eligible refunds and credits.

Experience Corps: An intergenerational tutoring program where volunteers aged 50 and older assist children in developing literacy skills.

Senior Community Service Employment Program (SCSEP): Offers job training and employment opportunities to older adults with low income.

Digital Skills Ready@50+: Provides digital literacy training to help older adults navigate modern technology and enhance employability.

These programs are designed to address immediate needs while fostering long-term economic stability and social engagement among older adults.

Technological Platform and Innovation

AARP Foundation leverages technology to enhance program delivery and outreach:

Digital Literacy Training: Through initiatives like Digital Skills Ready@50+, the Foundation offers virtual and in-person training sessions covering essential digital competencies.

Online Resources: The Foundation provides a range of online tools and resources to assist older adults in accessing benefits, finding employment, and connecting with their communities.

These technological platforms are integral to the Foundation's strategy of empowering older adults through education and resource accessibility.

Leadership Team

AARP Foundation's executive leadership team includes:

Claire Casey, President: Appointed on January 9, 2023, Claire brings extensive experience in nonprofit leadership and a commitment to advancing the Foundation's mission.

Emily Allen, Senior Vice President of Programs: Oversees the development and implementation of the Foundation's programs aimed at reducing senior poverty.

Shelley Goode, Senior Vice President & Chief Development Officer: Leads fundraising and development efforts to support the Foundation's initiatives.

Alexander van Kemenade, Senior Vice President of Impact Analytics: Directs the evaluation and analysis of the Foundation's programs to measure impact and inform strategy.

William (Bill) Alvarado Rivera, Senior Vice President of Legal Advocacy: Heads the Foundation's legal advocacy efforts, focusing on protecting the rights of older adults.

Patricia D. Shannon, Senior Vice President & Chief Financial Officer: Manages the Foundation's financial operations and ensures fiscal responsibility.

This leadership team is dedicated to advancing the Foundation's mission through strategic planning and effective program execution.

Leadership Changes

In January 2023, Claire Casey was appointed as President of AARP Foundation, succeeding the interim leadership of Emily Allen. This transition marks a continued commitment to the Foundation's mission under new leadership.

Competitor Profile

Market Insights and Dynamics

The nonprofit sector focused on senior services is characterized by a diverse range of organizations addressing issues such as health care, social isolation, and economic security. The aging population in the United States presents both challenges and opportunities for organizations like AARP Foundation to expand their impact.

Competitor Analysis

Key competitors and collaborators in the sector include:

Alliance for Retired Americans (ARA): A 501(c)(4) nonprofit affiliated with the AFL-CIO, focusing on advocacy for retired trade union members and community-based activists.

Capital Impact Partners: A community development financial institution investing in senior care, affordable housing, health care, education, and public nutrition projects in low-income communities.

These organizations, while sharing similar goals, differ in their approaches and areas of emphasis, contributing to a multifaceted landscape of support for older adults.