Canaan Fire Company Inc

Analysis

Canaan Fire Company Inc is a registered charity in United States, based in Canaan, CT. It received its IRS tax-exemption ruling in June 2023, 3 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 November 2023, Canaan Fire Company Inc reported income of $308k and spending of $195k, leaving 37% of income unspent that year. Across the 5 years on record, from November 2019 to November 2023, income grew from $176k to $308k (+74%), an average of +15% a year. The sharpest change came in the year to November 2022, when income rose by 74%. Over the whole period it spent 85% 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, Canaan Fire Company Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CT. Charities of a similar size with the same main cause include Mifflin Township Forest Rangers Fire Co ($308k), Bonlee Fire Department Inc ($308k) and World Cares Center Inc ($307k).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 31% of the total. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m.