Newton Hook and Ladder Company No 1 Incorporated

Analysis

Newton Hook and Ladder Company No 1 Incorporated is a registered charity in United States, based in Newtown, CT. It received its IRS tax-exemption ruling in March 2016, 10 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 May 2023, Newton Hook and Ladder Company No 1 Incorporated reported income of $442k and spending of $266k, leaving 40% of income unspent that year. Across the 4 years on record, from May 2020 to May 2023, income grew from $178k to $442k (+148%), an average of +35% a year. The sharpest change came in the year to May 2022, when income rose by 111%. Over the whole period it spent 91% 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, Newton Hook and Ladder Company No 1 Incorporated sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 66th percentile within CT. Charities of a similar size with the same main cause include Bunyan Volunteer Fire Department Inc ($442k), Southwest Volunteer Fire Department Inc ($442k) and Los Angeles County Fire Department ($441k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 78% and program service revenue 2.3% of the total. Other salaries and wages came to $33k. At year end it held assets of $3.3m against liabilities of $629k, net assets of $2.7m.