AMAC Foundation Inc.

Overview

AMAC Foundation Inc. is a U.S. nonprofit organization with the mission of enhancing the financial security, health, and social lives of current and future American seniors. Established in 2013, it is recognized as a 501(c)(3) charitable organization, which allows donations to be tax-deductible[5].

History

The foundation was launched in response to the needs of older Americans, particularly those associated with the Association of Mature Americans (AMAC). Its creation was facilitated by the approval of the Internal Revenue Service, enabling it to operate as a tax-exempt nonprofit[1].

Mission and Objectives

The AMAC Foundation is dedicated to providing credible and reliable guidance to seniors. This includes educating them about Social Security and Medicare systems, tracking legislative developments affecting retirement issues, and offering individualized advice through publications, workshops, and other communication methods[1][3]. The foundation also emphasizes the importance of education in promoting self-sustainability within the principles of the American free enterprise system[1].

Programs and Activities

Some notable initiatives include the operation of a trained and NSSA-certified Social Security Advisory Service, the publication of informational resources like "Who’s Who in Social Security," and hosting seminars and symposia focused on healthcare and retirement-related topics[1][3]. The organization's educational efforts aim to support seniors in making informed decisions regarding their financial and health planning.

Financial Overview

In 2023, the AMAC Foundation reported revenue of approximately $361,000, primarily from contributions, and expenses totaling about $480,000[4]. The majority of its expenses are not allocated to executive compensation or fundraising fees, reflecting its commitment to using resources for programmatic purposes[4].

Recognition

The AMAC Foundation has earned a 4-star rating from Charity Navigator, indicating strong financial management and accountability[5]. However, the organization's impact and leadership adaptability have not yet been scored due to insufficient data[5].

Conclusion

AMAC Foundation Inc. plays a significant role in serving America's older population by offering vital information and support in navigating complex social security and healthcare systems. Its commitment to improving seniors' financial security and well-being aligns with its mission to empower this demographic through education and guidance.