Agespan INC EIN 04-2545136

Agespan INC

EIN  04-2545136 Public charity (501(c)(3)) Lawrence, MA Founded 1974
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/6/26 · see original filing: IRS
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Size
$100M+
What they do
Creates programs and opportunities to serve the elderly.
Leadership
Joan F Hatem-Roy · Chief Executive Officer · $314K
Money in and out
$142.6M revenue, $138.4M expenses
Bottom line
94% program efficiency

Creates programs and opportunities to serve the elderly. For fiscal year 2024 it reported $142.6M in revenue, $138.4M in expenses, and $40.5M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$142.6M
Pt VIII · Ln 12
Total expenses
$138.4M
Pt IX · Ln 25
Net assets
$40.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4.2M
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06 Fundraising $0.00
Program efficiency
94%
of spending reaches programs0% vs prior filing year
Operating runway
2.9mo
months of highly liquid reserves at operating expense rate▲ +12% vs prior filing year
Surplus margin
+3%
revenue over expenses, this year▼ -31% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$142.6M
FY2024▲ +7%
Expenses
$138.4M
FY2024▲ +8%
Total assets
$81.4M
FY2024▲ +24%
Total liabilities
$40.9M
FY2024▲ +40%
Total revenue
$142.6M
Pt VIII · Ln 12
Total expenses
$138.4M
Pt IX · Ln 25
Net assets
$40.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4.2M
Total assetsPt X · Ln 16$81.4M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416
Mission & Programs · Part III

Where the work happens

3 program services account for $50.1M of program spending, described in the organization's own filed words · FY2024.
01

Senior care options (sco) is a voluntary medicare advantage health plan that combines medicare and masshealth benefits. Senior care options is a comprehensive health plan that covers all of the services normally paid for through medicare and masshealth.

$19.7Mprogram expense
02

Choices

The community choice program allows older adults who are on masshealth to receive expanded care at home, which can delay or prevent imminent placement in a long-term care facility. Eligibility for the community choice program is based on the following criteria - age 60 or older; approved for masshealth standard benefits; meet the…

$18.3Mprogram expense
03

Ecop

The enhanced community options program (ecop) is designed to serve frail elders living in the community who are at risk of nursing home placement due to functional or cognitive impairment. To qualify, the person must be 60 or older, and those under age 60 may be eligible with a documentation of alzheimer's disease or a related dementia…

$12.2Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAgespan INC
EINHdr · item D04-2545136
Principal addressHdr · item CLawrence, MA
WebsiteHdr · item Jwww.agespan.org
Year of formationHdr · item L1974
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P81Z)
Ruling yearIRS BMFMar 1975

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chief Executive Officer
$313,848Pt VII · Sec A
Chief Operations Officer
$224,730Pt VII · Sec A
Chief Financial Officer
$223,503Pt VII · Sec A
Chief Strategy Officer
$192,380Pt VII · Sec A
Chief Human Resource Officer
$177,699Pt VII · Sec A
Director of Fiscal & Revenue Operations
$135,100Pt VII · Sec A
Director of Clinical Support Services
$134,933Pt VII · Sec A
Director of Contract Management
$130,947Pt VII · Sec A

Joan F Hatem-Roy’s $314K as Chief Executive Officer is at the 31st percentile of top reported officer pay among 249 $100M+ human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Joan F Hatem-Roy$313,848$287,852$276,705$227,974$230,492$191,854
Tammy a O'Donnell$223,503$218,286$225,146$178,993$172,971$145,739
Christine Tardiff$224,730
Christine M Tardiff$214,603$200,577$156,103$152,287$133,439
Jennifer Raymond$192,380
Jennifer R Raymond$184,824$174,448$134,411$130,598
Shelley Desimone$177,699
Deborah R Crooke$169,367$159,900$138,298$134,932

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$81.1M · 57%
Program service revenue$60.6M · 42%
Investment income$976K · 1%
Contributions & grants57%$81.1M
Program service revenue42%$60.6M
Investment income1%$976K
Other revenue$28K
— government grantsLn 1e$78.9M
Total revenueLn 12$142.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06 Fundraising $0.00
Program services94%$130.2M
Management & general6%$7.8M
Fundraising$488K
Total functional expensesLn 25$138.4M

Balance Sheet

Part X · end of year
CashLn 1$32.7M
Total assetsLn 16$81.4M
Total liabilitiesLn 26$40.9M
Total net assetsLn 32$40.5M
Months of cash on handcomputed2.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $33.5M · Operating expenses (Pt IX) $138.4M · Less non-cash grants $135K · Cash operating expenses/yr $138.3M
2.9 months
Where the money goes
Program services
Program services $130.2M · Total expenses $138.4M
94%
Management & General
Management & general $7.8M · Total expenses $138.4M
6%
Fundraising
Fundraising $488K · Total expenses $138.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $345K · Solicited contributions (3-yr avg) $1.6M
$0.21 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $81.1M · Total revenue $142.6M
57%
Government reliance
Government grants $78.9M · Total revenue $142.6M
55%
Earned-income share
Program service revenue $60.6M · Total revenue $142.6M
42%
Investment reliance
Investment income $976K · Total revenue $142.6M
+1%
Program self-sufficiency
Program service revenue $60.6M · Total expenses $138.4M
44%
Growth & trend
Revenue growth (YoY)
This year $142.6M · Prior year $133.8M
+7%
Revenue CAGR
FY2019 $97.9M · FY2024 $142.6M
+8%
Net-asset trend (YoY)
End of year $40.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $142.6M · Expenses $138.4M
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $81.4M
Net-asset ratio
Net assets $40.5M · Total assets $81.4M
50%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $805K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $81.4M
1%
People & payroll
Highest Reported Total Compensation
Individual Joan F Hatem-Roy · Reported title CHIEF EXECUTIVE OFFICER · Highest reported compensation $314K · Total expenses $138.4M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $42.2M · Total expenses $138.4M
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Fundraising cost ratio 1%
Revenue growth 7%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$8K
Grants paid · 89 grants · $3.7M · 2019–2024
Unitemized GrantFY2024$388,418
Unitemized GrantFY2024$349,516
Northeast Legal Aid INCMA · FY2024$101,909
Unitemized GrantFY2024$46,755
Unitemized GrantFY2024$32,037
Ruths House INCMA · FY2024$20,000
Lawrence Council on AgingFY2024$15,840
Middleton Council on AgingFY2024$11,667
Emmaus INCMA · FY2024$10,050
Peabody CoaFY2024$9,167
Salem CoaFY2024$9,166
Marblehead CoaFY2024$8,333
Northeast Legal Aid INCMA · FY2023$296,120
Unitemized GrantFY2023$282,676
Unitemized GrantFY2023$231,212
See all 89 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$133.8M revenue · ⤓ 990 PDF
FY2023$114.3M revenue · ⤓ 990 PDF
FY2022$107.9M revenue · ⤓ 990 PDF
FY2021$97.5M revenue · ⤓ 990 PDF
FY2020$97.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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