Chincoteague Volunteer Fire Company Inc

Analysis

Chincoteague Volunteer Fire Company Inc is a registered charity in United States, based in Chincoteague, VA. It received its IRS tax-exemption ruling in January 2009, 17 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Chincoteague Volunteer Fire Company Inc reported income of $1.3m and spending of $1.2m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.3m (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2022, when income rose by 50%. Over the whole period it spent 104% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, Chincoteague Volunteer Fire Company Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include Dewey Fire Co No 1 ($1.3m), Johnsburg Emergency Squad Inc ($1.3m) and Crandell Volunteer Fire Department ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 27% of the total. At year end it held assets of $5.2m against liabilities of $2.1m, net assets of $3.1m.