Lakewood Volunteer Fire Co Inc

Analysis

Lakewood Volunteer Fire Co Inc is a registered charity in United States, based in Lakewood, NY. It received its IRS tax-exemption ruling in May 2003, 23 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 March 2024, Lakewood Volunteer Fire Co Inc reported income of $400k and spending of $173k, leaving 57% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $368k to $400k (+8.8%), an average of +2.1% a year. The sharpest change came in the year to March 2024, when income rose by 27%. Over the whole period it spent 32% 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, Lakewood Volunteer Fire Co Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Cambridge Rescue Squad Inc ($400k), Littleton Volunteer Fire Department Inc ($401k) and Presto Volunteer Fire Department ($400k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 75% of the total. At year end it held assets of $2.9m against liabilities of $1,250, net assets of $2.9m.