Palermo Volunteer Fire Corporation

Analysis

Palermo Volunteer Fire Corporation is a registered charity in United States, based in Fulton, NY. It received its IRS tax-exemption ruling in March 2020, 6 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 February 2023, Palermo Volunteer Fire Corporation reported income of $267k and spending of $312k, spending 117% of what it took in. Across the 6 years on record, from February 2018 to February 2023, income grew from $204k to $267k (+31%), an average of +5.5% a year. Over the whole period it spent 96% 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, Palermo Volunteer Fire Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Town of Moriah Ambulance Squad ($267k), Lizton-Union TWP Hendricks Co Volunteer Fire Dept Inc ($267k) and Hose Company No 4 ($267k).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 14% and program service revenue 84% of the total. At year end it held assets of $1.2m against liabilities of $471k, net assets of $765k.