Prospect Terrace Fire Company Inc

Analysis

Prospect Terrace Fire Company Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in June 2014, 12 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, Prospect Terrace Fire Company Inc reported income of $138k and spending of $160k, spending 116% of what it took in. Across the 3 years on record, from December 2020 to December 2023, income fell from $223k to $138k (-38%), an average of -21% a year. The sharpest change came in the year to December 2022, when income dropped by 40%. Over the whole period it spent 108% 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, Prospect Terrace Fire Company Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 44th percentile within NY. Charities of a similar size with the same main cause include Illinois Fire Inspectors Association ($138k), North Braddock Volunteer Fire Deptartment Inc ($138k) and Falmouth Volunteer Firefighters Association Inc ($138k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 2.9% and program service revenue 92% of the total. At year end it held assets of $319k against liabilities of $98k, net assets of $221k.