TRANSFORMING LIVES IN 2017 2017 ANNUAL REPORT CONNECTING OLDER ADULTS WITH OPPORTUNITY Volunteers supported Meals packed by volunteers Hours invested by our programs for local communities in Experience Corps Memphis, Denver, the volunteers to help Twin Cities, Washington, D.C., 31,627 students improve and South Florida to end their reading skills senior

Taxpayers received free $222,032,526 Earned Hours of community tax preparation services Income Tax Credits service contributed by from more than 34,000 received by taxpayers AARP Foundation AARP Foundation helped by AARP SCSEP participants Tax-Aide volunteers Foundation Tax-Aide

People received Delivered across local People assessed their guidance through the communities in Texas, risk of isolation at BACK TO WORK 50+ Florida, the U.S. Virgin Connect2Affect.org Contact Center Islands and Puerto Rico to provide hurricane relief to older adults in need. 3 You learn a lot about how looking for a job works these days. HOW LISA GOT HER (JOB) GROOVE BACK “Some days I wanted to quit, but I didn’t stop. You have to keep going.” At 60 also served more than 14,000 people years old, Lisa Edmond was laid off by through the BTW50+ Contact Center with the company she’d served for 42 years. 7 Smart Strategies Guides and referrals Disheartened and feeling hopeless, and to local resources. faced with a very different job market from Our Senior Community Service the one she remembered, she signed up for Employment Program (SCSEP) provides BACK TO WORK 50+. After that, everything economic opportunities by matching low- changed. At a recruiting event, both income, unemployed jobseekers with local Lisa’s preparedness and her personality nonprofts and public agencies so they can impressed a recruiter and she was invited to increase skills and build self-confdence interview for a customer service position the while earning a modest income, with the next day, where she was hired on the . experience often leading to permanent Edmond recommends BACK TO WORK employment. 50+ without hesitation. “You learn a lot In 2017, SCSEP served more than about how looking for a job works these 14,000 participants and placed nearly days. When I was coming up, the main 3,500 in unsubsidized jobs. thing companies wanted was loyalty. It’s different now; people change jobs more Self-employment is a growing opportunity frequently, and that’s expected. There’s a for many older adults to improve their lot to learn in order to be up to date, and fnancial stability. AARP Foundation’s BACK TO WORK 50+ teaches you that.” Work for Yourself@50+ toolkit offers free information, support and resources to BACK TO WORK 50+ lives up to its name. help low-to moderate-income adults make It puts older adults back to work by giving smart decisions about self-employment. them the skills, training and coaching they need to compete with confdence for In 2017, the toolkits surpassed 7,000 today’s in-demand jobs. In 2017, more downloads and requests, and 1,500 than 1,000 people were employed through participants attended local workshops the coaching program. AARP Foundation across 30 cities. 4 CATASTROPHE AND COMMUNITY Imagine losing your home to a hurricane. For vulnerable older adults, a natural Now imagine getting it back — not just disaster compounds the struggles restored, but better than it was before the they already experience. In 2017, an storm. For Houstonians whose houses unprecedented hurricane season wreaked were made unlivable by Hurricane Harvey, havoc on communities in Texas, Florida, that’s exactly what’s happening. the U.S. Virgin Islands and Puerto Rico, leaving thousands of at-risk seniors Supported by a grant from the AARP without essential services. As in the Foundation Hurricane Harvey Relief past, AARP Foundation immediately Fund, a Houston organization is providing took action to provide relief to seniors eligible homeowners with critical repairs in the affected areas. like roofng, electrical and plumbing, plus something more: upgrades that make it In the wake of Hurricanes Harvey, Irma easier to age in place. and Maria, AARP Foundation moved quickly to launch three separate relief campaigns, raising more than $5.6 million in donations from AARP members, staff and the public. With matching funds from AARP, AARP Foundation and the Miami Dolphins, we’ve helped dozens of organizations provide on-the-ground relief to people in areas pummeled by the relentless storms.

5 Photo Credit: Amy Stroth/The New York Times/Redux

ADVOCATING IN COURTS After years of consistently good of dramatic demographic change and the performance reviews and praise, Donetta proven value and positive attributes older Raymond suddenly found herself in the adults bring to the workplace.” company of 359 other colleagues, dropped off in an empty parking lot following a swift AARP Foundation’s legal advocacy for round of layoffs at Spirit AeroSystems. older adults in 2017 included several other highlights: Upon learning that nearly half of those in the layoffs were 40 or older — the • On behalf of AARP, Foundation age at which federal age discrimination attorneys successfully sued the law protections kick in — Ms. Raymond U.S. Equal Employment Opportunity and 70 other colleagues turned to AARP Commission (EEOC) for issuing rules Foundation for help in fling a suit in that permit employers to penalize the Federal District Court in Wichita, employees who decline to provide Kan. According to Laurie A. McCann, a confdential medical data as part of the lawyer with AARP Foundation, “ageism employer’s “wellness” plan. The court unfortunately remains pervasive in the held that the EEOC must revise the American workforce”— 50 years after the rules, which confict with employees’ Age Discrimination in Employment Act civil rights under the Americans (ADEA) became law. with Disabilities Act and the Genetic Information Non-Discrimination Act. The ADEA was very much on the Foundation’s mind last year as we marked • With the help of the Foundation’s its 50th anniversary. In her closing remarks lawyers, the family of a man who died at the Lyndon B. Johnson School after his nursing home administered of Public Affairs at the University of Texas psychotropic drugs settled a wrongful in Austin, where we co-sponsored an death lawsuit against the nursing home event recognizing President Johnson’s and others that were responsible for enactment of the ADEA as a crucial part caring for their father. A similar lawsuit of his civil rights legacy, AARP Foundation against a nursing home in Delaware, President Lisa Marsh Ryerson said, fled by AARP Foundation attorneys “Age discrimination is the last acceptable and others, is still pending. prejudice in our society — even in the face 6 RECLAIMING PURPOSE

When his long accounting career came of you, I’m doing something positive. to an end, Earl Robinson struggled with I accomplished something.” severe depression. One day, he noticed an ad for Experience Corps volunteers Experience Corps helps students at a in a local paper. “When I saw that, it was critical juncture while also engaging older a blessing,” he says. “It gave me, for the adult volunteers in their communities — lack of a better word, purpose.” putting their wisdom and experience to work while helping them regain a sense That sense of purpose is one reason why of involvement. In 2017, AARP Foundation Robinson returned for his second year Experience Corps volunteers invested with Experience Corps in Washington, 429,384 hours in helping 31,627 students D.C.— and why he plans to return for improve their reading skills. many years to come. The dedication of AARP Foundation Another is the kids. As much as they need volunteers extends well beyond the Robinson, it turns out that Robinson needs classroom. For more than 50 years, them, too. On the last day of the school volunteers with AARP Foundation Tax- year, one of his students asked whether Aide have helped low- and moderate- Robinson would come back to see him. income taxpayers prepare their tax returns “Of course,” Robinson replied. “Because for free. In 2017, more than 34,000 IRS- certifed Tax-Aide volunteers helped nearly Because of you, I’m doing something 2.6 million people navigate complicated tax codes, ensure proper credits and positive. I accomplished something. deductions, and fle their federal and state tax returns. Last year, Tax-Aide volunteers helped taxpayers gain $1.37 billion in income tax refunds, more than $222 million in Earned Income Tax Credits, and peace of mind. FROM DONOR TO VOLUNTEER AARP Foundation donor Nancy Davies I had never experienced relocated from New York City to Tucson, Ariz., to be near her mother, who at 89 that kind of enthusiasm. was spry, healthy and residing in an independent living community. In early but I think that’s going to change. Now 2017, Davies’ mother passed away that I’m semi-retired, I want to give my suddenly. Around the same time, a fier time, too.” about AARP Foundation’s Summer of Service to SeniorsSM Meal Pack Senior hunger exists in every community Challenge in Denver, Colo., arrived in across the country, but it remains one the mail. Davies, who had long been of America’s best-kept secrets. Last sensitive to the problem of senior summer, more than 7,000 volunteers hunger, saw an opportunity to honor put in 12,368 hours to bring that secret her mother’s life by doing something out of the shadows: 2017 marked AARP to help others. Foundation’s frst Summer of Service to SeniorsSM — a series of opportunities On July 9, Davies and hundreds of other around the country designed to call exuberant volunteers packed half a attention to senior hunger in America. million meals for struggling older adults With the help of food bank partners and in the greater Denver area. “People support from AARP® Credit Card from were there with their whole families,” Chase, The Hartford and UnitedHealth she says. “I had never experienced Group® and others, volunteers in that kind of enthusiasm.” Uplifted, Memphis, Denver, the Twin Cities and she celebrated her birthday by setting Washington, D.C., packed 3,024,450 a new goal. “I’d only ever been a donor, meals for hungry seniors. 8 THANK YOU Thank you for believing in AARP Foundation’s mission and our work to end senior poverty. Your generous support in 2017 is helping ensure low-income seniors can live independently for as long as possible, get enough nutritious food every day, and maintain strong and lasting connections to their friends, family and community.

CORPORATE AND F.R. Bigelow Foundation INSTITUTIONAL SUPPORTERS grandPad Anonymous (5) The Hartford 20th Century Fox The John A. Hartford Foundation AARP Inc. Hathaway Brown School AARP Services Inc. Hendrick Motorsports Acumen Solutions The Herb Block Foundation Albion Lion’s Club Indiana Assisted Living Association The Angell Foundation Jones Lang LaSalle, Inc. Avis Budget Group Keck Medicine of USC Bank of America The Kresge Foundation BNY Mellon Lear Family Foundation Brandywine Chapter of the Association LSC Communications of Fundraising Professionals Maine Health Access Foundation Brown Capital Management The Mark Gordon Company The California Wellness Foundation MAXIMUS Foundation Centene Foundation Miami Dolphins Chapman Cubine and Hussey Microsoft Chase Bank USA, N.A. MIT Federal Credit Union Chinese American Citizens Alliance MKM Foundation Chicago Lodge The Morris and Gwendolyn Cafritz Foundation Chinese American Citizens New Line Cinema Alliance Phoenix Lodge New York Life Chinese American Citizens Alliance New York State Health Foundation Phoenix Lodge Community Involvement Fund Nora Roberts Foundation Chinese American Citizens Alliance Paramount Pictures Salinas - CIF Lodge Parentis Health Chinese American Citizens Alliance The Pew Charitable Trusts San Antonio Lodge Ralph C. Wilson, Jr. Foundation Chinese American Citizens Alliance The Retirement Research Foundation San Francisco Lodge Revelations Entertainment The Commonwealth Fund Robert R. McCormick Foundation Consumer Cellular, Inc. Robert Wood Johnson Foundation Corporation for National and Community Service Ronald H. Foundation Dante Consulting Inc. The SCAN Foundation Deloitte Simple Actions Family Foundation Denny’s Steans Family Foundation Experis Technology Group, Inc. SYPartners Finnegan Family Foundation ThomasARTS Foremost Insurance Group Tivity Health We do our best to ensure our donor names are listed accurately and with permission. If you notice any 9 discrepancies please call our Donor Services team at 1-800-775-6776 option 4. Toyota Motor North America *The Dixie Blackstone Eger Charitable TrueCar, Inc. Remainder Annuity Trust Truth Church of New York *Philip Ellgen United Benevolent Association John C. & *Genevieve Fairval UnitedHealthcare *Wilma S. Firsich United States Department of Agriculture Stephen T. Franco United States Department of Justice *The Estate of Fred C.N. Fredericks United States Department of Labor *Sid & *Betty Garvais United States Department of Treasury *Mr. & Mrs. Stuart B. Gerber United Way of Central and NE Connecticut Alice S. Gillisse Verint Systems, Inc. Jo. M. Gledhill & *Richard L. Bowman Walgreens P.K. Govind & Sally L. Luckenbach The Walt Disney Studios Sharman L. Greber Washington Gas – A WGL Company Betty Lou Gross Wausau Financial Systems, Carmen Gutierrez A Deluxe Company *Ethel G. Harris Wells Fargo Housing Foundation Hazel E. Hart WGL Carol A. Henry William Penn Foundation Alicia O. Hernandez Willis Towers Watson Sharon Hodgson W.P. & H.B. White Foundation Linda Jo C. Hoholik Larry Johnson Norma Kershaw LEGACY SOCIETY *The Estate of Kenneth H. Kintopf Anonymous (444) Loretta Krause *The Henry Acad Trust *The Estate of Kenneth L. Ladd David T. Albee *The Estate of Erling Lagerholm Dale A. Arceneaux *The Estate of William Leidy Thomas J. Audley Judith Lender *The Estate of Donald August Miss Pat Edgar E. Beck III *Robert Luth Carmen C. Briggs Emily Ellen Markgraf Shelley Buckingham Manuel J. Sr. & Gloria E. Mathew Kay Burch Sara C. McGahan Leopoldo & Mary E. Buttinelli *Jennie R. Medlin Jane D. Caminis Allen & *Linda Minsky *The Estate of Charles E. Chambers *George Mitchell *The Estate of Judy Theresa Charles James E. Moore Lorinda Cheng Arashiro *The Estate of May Moore Marion Clement *The Estate of Barbara Mulholland Col. James M. Compton William M. Myers, Jr. Richard T. Corvetti Ruth Nolte John R. Crane Anthony &Shirley Onesto *The Estate of Carmen L. Cruz *The Estate of William Keith Parlour Christine M. Cruz *The Penn Trust Mrs. Brigitte Curtis Ms. Carmen E. Perry *The Mary K. Cusack Trust Leon N. Phelps, Sr. *Aila G. Dawe Jeanne Phillips & Bill Pendergraft *The Theophil Walter Dusek Trust In Memory of Karl Herrick Elwyn Pinks *Evelyn & *George F. Eckhardt, Jr. Hernando Pinzon-Isaza

10 *Deceased Eleanor Pirozek William & Carol Collins *The Estate of Sandra Premrou Keith Dufrane *The Estate of Larry G. Rand Michael Earley *Ed &*Jeanette Ray K. James Ehlen, M.D. *Julie Robinson Jeanine Elgin Frank & Maria Robinson Michael & Lisa Fairburn Mrs. Helen P. Rogers John Gagnon *The Estate of Andrew Romay Don & Janet Gardner, on behalf of Joseph R. Selby Decoys Neighborhood Bar & Grill John A. Sena Robert Gordon *The Estate of Georgia B. Senior Martha Hayes Heather R. Sherman Alan Kendall *The Estate of Joseph W. Showalter Richard Klein *The Estate of William O. Smedley Dr. Matthew Krecic Ms. Alice E. Smith-Abaté Daphne Kwok Mary Stahl Leonard Len *Morton Stanson Cathy Lim In memory of Mrs. Beatrice M. Stevens Kollivakkam Raghavan & Sadie R. Stevens Joan Ruff Peggy P. Stevenson Libby Sartain June R. Strachan Donald G. Smith, Jr. Thomas H. Stutzman Ralph & Kathy Smith In Memory of Mr. & Mrs. Charlie Thomas, Jr. Russell Wheeler Patricia L. Tolbert Beth & David Whitehead Thomas Tomkiewicz Linda & Mark Wilford *The Estate of Amy Emiko Uyemura Susan Valletta ALLY ($2,500-$4,999) *The William H. Van Dusen, Jr. Trust Anonymous (14) Alexander Volk David M. Adame *The Joy Washington Probating Trust David T. Albee Virginia E. Washington Bob Blancato Beth & David Whitehead Jane Boyd Leah Bryant Francis & Mary Chiozza OPPORTUNITY BUILDERS Glen Cobbett CHAMPION ($10,000+) Daniel Conway Anonymous (5) Gretchen M. Dahlen & Greg Thelen Joseph Coughlin Thomas Daw & Ann Giragosian Daw Dolores & Ronald Daly Steven DelVecchio Annette Franqui & Seth Werner Scott Frisch Deborah Henderson Catherine Alicia Georges Jo Ann Jenkins Brian & Veronica Glynn Lloyd E. & Juanita Johnson Jaime P. & Linda M. Gutierrez David C. Mores Mel Hertzig Mr. & Mrs. Shlomo Rechnitz Gerard Hickey Deborah Ross Jewell Hoover Lisa Marsh Ryerson Warren Ilchman Harry & Karen Johnson LEADER ($5,000-$9,999) Michael Keller & Pamela Sousa Anonymous (12) Timothy M. Kelly

11 Tara Isa Koslov & William Anthony Aquino Alvarado Rivera Leo Asen Dr. Gregory & Lisa Larkin Michael Baier Carl Leach Susan Bainton Nancy LeaMond Carolyn Baker Dorothy Leithead Frederick Baker Cindy Lewin Malcolm Balfour Barbara Lindstrom Carol Ball Janet Lonney Helene Banks Daniel McGann Mario Barrera Karen & Brad Mercer Patricia Barrett Diane Miller Peter Barrett Jeanne Phillips & Bill Pendergraft Bruce Baxter Janet Porter, Ph.D. Roberto Bayardo Charles & Melinda Pruitt Erick Becklin & Ann Erickson Nancy Reuscher Glenn Begley Kurt Schmeller Bakir Begovic Eric Schneidewind Maynard Beitzel Saul Schwarz William & Marietta Benko Sara Lee Sendelbeck Patricia Berardo & Timothy Patricia D. Shannon & Sullivan Bruce A. Peters Barbara Bere Christopher Sloan Allan Berenstein Sandra Smith R. Henry Bergstresser Nadia Sommer Catherine Best Nancy Stegens Benjamin Bigio Melvin Stith Kyle Blackman Daniel Tang Alan Blush Lisa Thompson Lee Bogan Terry Trobec Donald & Jacqueline Bolen Stephen Venute Caroline Booth Merle Verrill Charles Borrok May Wallace Sarane Bowen Edward Watson James W. Bowling Debra Whitman Beverly Bowman Ted & Pam Woehrle Lois Boyd Milton Bradford SUPPORTER ($1,000 - $2,499) Ray Brankline Anonymous (100) Janet Brathwaite Leandra Abbott Dr. Kenneth R. Brennen Alice Akan Dr. Thomas Brewer Robert C. Akins Dolores Brewster Soubhi & Sawsan al-Aryan Blaine Briggs Gail & Robert Aldrich Jane Brill Clemente Allamby Sally Brittle John Allen Lorrin Brown Sandra Allen Larry Brunner Jody Ames Joel & Shelby Brunt Lynda & Richard Amey Dorothy Bryan Rawle Andrews, Jr. Robert Buechler

12 Paul Bunge Agnes Faire & Albert Mowdy Gordon Cadwgan Robert Fairfeld Karen Caldwell Barbara Fanta Janis Calton John Feather James Caputo Catherine Fiddes Eileen Cassir Catherine Fleischner John & Karen Castaldo Patricia Flier Larry Chait David Foglesong Leona Chanin Jen Ford Davace Chin Mari Fore Beverly Chrisman Robert Foulk Zhabiz Chu Alan Fowler Jo Ann Clark Edward Fray Gertrude Clarke Edward Furr Christin Cleaver Thomas Fusco Andrea Cockrum Bruce Galt Vernon Colbert Dr. Choudary Ganga Marilyn Coles Nancy & Sid Ganis Patricia Collier Gabriel Garcia-Angeli Frederic Colucci Arlene Germain George & Andrea Conklin Neil & Susan Gilmour Judith Conrad Patrick Glick Noel Cox Craig Goding Richard Crago Pam Gomez Denis Crasta Steven Gorski Larry Csonka Dorothy Gray Christopher & PattiAnn Curtin Claudio Gualtieri Judy Dalton Michele Gulick Agnes Davenport Lyn & Jeff Gunn-Smith Nancy Davies Cornelia Haag-Molkenteller Kathe Davis Elmer Hamilton James Dearth Kim Hanna Jeanette Degennaro Marilee Hanson Raymond DeLille Robert Harland John Dennan Kathleen Harmon John DesPrez Jim Harre & Kristine Harriger Jonathan Detwiler Linda Harter Leslee Devlin Corey Hastings Sandora Di Fiore John Hatfeld Dolores Dicks Curtis Heaston Peg Owen DiGiammarino Leslie Hensley Susan Dill Christopher Herko Kevin Donnellan Richard Hirter James Drace Sharon Hodge Barbara Dufresne C. Holman Helen Dunstan David Holton Julian Eidson Drs. Jay & Cindy Hoorn Elizabeth Ellard Chevis Horne, Jr. Donna M. Ender Yvonne Hovell Lois Ernst Michelle Hubbard

13 David Huey Charles Lowman Stephen Jackson Scott Luchesi Norman Jacques Carol Lungrin Jean Jagendorf Stewart MacAulay Nancy Jankowski Arthur Madsen Peter Jarosewycz Robert Mains Jennifer Jehn Stewart Mandler Marisa & Jeffrey Jensen Karen Maness Ava Jensen Leo Marshall Allan Johnson Anne Mason John Johnson Claudia Massie Rojenia Johnson Bradley Mayer Sheila Josh Kristy Mayo Georgia Jump Linda McCartney Walter Kalinowski Randy McClanahan Edna Kane-Williams Ernest McDuffe Mark Karolewicz Robert McElfresh Richard Kaufman Thomas Mcnamee Rose Kaufman Honor Mello James Keenan Diane Melvin Dale Kelley Diane Minott Thomas Kepple Allan Mirgon Kathleen Kidd Peggy Mitchell Ron Kilgard Pamela Moon Mary Kinser Nathaniel Moore Sheila Klein Joann Moorefeld Willis Kleinenbroich Mustapha Muhammad Melody Knell John M. Murphy David Kocher John P. Murphy Heidi & Urs Kopp Peter Murray Marion Kramer Jerome Mutz Fred Krieger Neil Myntti Robert Krouse Terry Nash Mary Kupczyk Leo Nault Bertrand Lamarche Patti Nelson Sharon Landwehr Earl Nevels Neal Lane Sylvia Newcomer Sharon Leach Neal Oberholtzer David Leader Francine Obermiller Felix Lee Terry O’Brien Sid Lerner Edward O’Day Helena Lesher Francis O’Malley Bob Levy John O’Steen E. Donovan Lewis Eliot Ostrow Edward Light Peter Papasifakis Pekka Liias Michael Pargee Viki Lindley Georgene Pasarell Alain Lo Harold Patterson Carlos & Clara López James Patterson Donald Lovejoy Robert Penny

14 Caroline Peska Dorothy Stack Marilyn Phillips Kris Stephens David Pickut & Jo Ellen Helmlinger Richard Stolz Stephen Pinney Julianne Strasburg Carlisle Pipkin Doris Strong Dr. Arlene Polakof & Elken Osher Linda Sullivan Ann Poll Doris Taylor John Pomerantz Nancy Taylor Minda Poole Isabelle Thompson George Poschner Laura Thompson Virginia Price John Thomson William Price John Thurow Mary Ratcliff Carol Trani Hal Ray William Tripp Pauline Rippel Phillip & Alma Trotter Ernest Robertson Kathi Trotter Rayner Brenda Robinson Peter Tuohy Elizabeth Robinson Erica Ueland Elmer Roddy Sandra E. Ulsh Alan Rolph Thomas Uttormark Jorge Rosaly Mark Vann Trude Roselle José Vélez Nina Rosenthal Thomas Vrobel Marilyn & Skip Rossakam Sherryl Walsh Irma Ruiz & Kathleen Battilo Ming & Yung Wang Mary Ryan Clayton Watson Ronald Sanders D. Weidman Janice & Arthur Sandy Arne Werchick Manuel Sanguily, MD Dana Werner Tom Scanlan Robert Wesch William Schildgen Carolyn West Loren Schillinger Robert West Uwe Schmidt Mary Wilens Bruce Schreider Marcia Williams & Gene Lucero Susan Schroeder Mason Williams Joyce Schulte Noralee Wilson Richard Schweinhart Douglas Wisner Jack Setterlund C. Kalina Wong Jo Ann & Henry Shain James Wonninghaus Heather Sherman Boe & Carol Workman Gopalaiengar Sheshadri Cheryl Wrobel James Shiratsuki Nancy Wyrick Paul Silas John Yanok David Simon Don Yee Lance Simpson Sarah Yee Irene Siroskey Alexandra Lewin-Zwerdling Avis & Brad Skinner James Smith Ruth Smith Judith Snodgrass

15 FINANCIALS This summary of fnancial information has been extracted from the AARP Foundation audited fnancial statements for the year ending December 31, 2017, and on which an independent public accounting frm expressed an unmodifed opinion.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF DECEMBER 31, 2017 AND DECEMBER 31, 2016 (IN THOUSANDS)

ASSETS 2017 2016 Cash and cash equivalents 9,187 11,098 Contributions receivable, net 555 2,378 Grants receivable 10,679 9,111 Prepaid expenses and other assets 2,468 2,612 Investments 331,746 213,167 Charitable gift annuity investments 5,341 6,195 Program related investments, net 5,728 5,518 Property and equipment, net 17,236 18,563 Total Assets 382,940 268,642

LIABILITIES Accounts payable and accrued expenses 23,842 20,567 Deferred revenue 6,073 3,787 Due to affliates 192 407 Charitable gift annuities payable 3,172 3,305 Bonds payable 25,000 25,000 Total Liabilities 58,279 53,066

NET ASSETS Unrestricted: Undesignated 21,881 16,998 Board-designated quasi-endowment 20,564 18,611 Board-designated operating reserves 55,483 54,477 Total Unrestricted 97,928 90,086 Temporarily Restricted 2,937 2,449 Permanently Restricted 223,796 123,041 Total Net Assets 324,661 215,576 Total Liabilities and Net Assets 382,940 268,642

16 CONSOLIDATED STATEMENTS OF ACTIVITIES FOR THE YEARS ENDING DECEMBER 31, 2017 AND DECEMBER 31, 2016 (IN THOUSANDS)

OPERATING REVENUE 2017 2016 Grant revenue 96,938 94,839 Contributions 152,462 184,954 In-kind contributions 59,792 55,935 Investment income designated for operations 4,266 3,970 Other 1,046 1,942 Total Operating Revenue 314,504 341,640

EXPENSES Program Services: SCSEP 112,430 107,922 Tax-Aide 18,344 12,297 Experience Corps 15,075 11,624 Impact areas and other programs 39,965 38,116 Legal Advocacy 5,189 4,751 Total Program Services 191,003 174,710

Supporting Services: Fundraising 24,545 24,704 Management and general 21,112 19,285 Total Supporting Services 45,657 43,989 Total Expenses 236,660 218,699 Changes in Net Assets from Operations 77,844 122,941

OTHER CHANGES IN NET ASSETS Investments return in excess of amounts designated for operations 31,486 10,225 Changes in value of charitable gift annuities (245) (5) Change in Net Assets 109,085 133,161 Net Assets, Beginning of Year 215,576 82,415 Net Assets, End of Year 324,661 215,576

17 SOURCES AND USES OF FUNDS

AARP Foundation receives funding from multiple sources, including public support, grants and AARP. Eighty one cents of every dollar the Foundation spends goes to our important programs and services to improve the quality of life for vulnerable older adults in your community across the country.

REVENUE BY CATEGORY

In-Kind Contributions 19% Investment Income Contributions and Other 2% 48% Grant Revenue 31%

FUNCTIONAL EXPENSES

Management and General 9% 10% Fundraising

81% Programs

18 2017 AARP FOUNDATION BOARD OF DIRECTORS

Lloyd Johnson, Chair David Adame Ronald E. Daly Sr. Ann G. Daw Jaime P. Gutierrez Harry E. Johnson Sr. Tim Kelly Neal Lane Diane D. Miller

2017 AARP FOUNDATION EXECUTIVE LEADERSHIP

Lisa Marsh Ryerson President

Patricia D. Shannon Chief Financial Offcer and Senior Vice President, Strategy, Innovation, Evaluation, Finance, Grants, Operations and Technology

Emily Allen Senior Vice President, Programs

William Alvarado Rivera Senior Vice President, Litigation

David Whitehead Senior Vice President & Chief Development Offcer ABOUT AARP FOUNDATION

AARP Foundation works to end senior poverty by helping vulnerable older adults build economic opportunity and social connectedness. As AARP’s charitable affliate, we serve AARP members and nonmembers alike. Bolstered by vigorous advocacy, we spark bold, innovative solutions that foster resilience, strengthen communities and restore hope.

AARP Foundation 601 E Street, NW Washington, DC 20049

@AARPFoundation AARPFoundation 20