Panama Fire Company Inc

Analysis

Panama Fire Company Inc is a registered charity in United States, based in Panama, NY. It received its IRS tax-exemption ruling in November 1998, 28 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, Panama Fire Company Inc reported income of $86k and spending of $79k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $47k to $86k (+83%), an average of +83% a year. The sharpest change came in the year to December 2023, when income rose by 83%. Over the whole period it spent 77% 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, Panama Fire Company Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 33rd percentile within NY. Charities of a similar size with the same main cause include Wisconsin State Fire Inspectors Association ($86k), Lakeville Public Safety Foundation ($86k) and North Hampton Firemens Association ($86k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 28% of the total. At year end it held assets of $134k against liabilities of $0, net assets of $134k.