Somers Point Volunteer Fire Company No 1 Inc

Analysis

Somers Point Volunteer Fire Company No 1 Inc is a registered charity in United States, based in Somers Point, NJ. It received its IRS tax-exemption ruling in August 2019, 7 years ago. 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 2022, Somers Point Volunteer Fire Company No 1 Inc reported income of $153k and spending of $102k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2018 to December 2022, income grew from $70k to $153k (+120%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 55%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somers Point Volunteer Fire Company No 1 Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 55th percentile within NJ. Charities of a similar size with the same main cause include Little League Baseball Inc ($153k), Bac Local 7 Tile Marble and Terrazzo Scholarship Fund Inc ($153k) and Salesian Monastic Community ($153k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 20% of the total. At year end it held assets of $642k against liabilities of $0, net assets of $642k.