Lorraine Volunteer Fire Company Inc

Analysis

Lorraine Volunteer Fire Company Inc is a registered charity in United States, based in Lorraine, NY. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lorraine Volunteer Fire Company Inc reported income of $82k and spending of $48k, leaving 42% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $74k to $82k (+10%), an average of +2.0% a year. The sharpest change came in the year to December 2019, when income rose by 59%. Over the whole period it spent 49% 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, Lorraine Volunteer Fire Company Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 32nd percentile within NY. Charities of a similar size with the same main cause include Delmar Fire Dept ($82k), Powell Volunteer Fire Department Inc ($82k) and Rescue Unit of Stanly County Inc ($82k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.7% and program service revenue 71% of the total. At year end it held assets of $1.5m against liabilities of $71k, net assets of $1.4m.