Goodwill Hose Company No 1

Analysis

Goodwill Hose Company No 1 is a registered charity in United States, based in Belmar, NJ. It received its IRS tax-exemption ruling in September 1997, 29 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, Goodwill Hose Company No 1 reported income of $75k and spending of $29k, leaving 62% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $45k to $75k (+67%), an average of +67% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 44% 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, Goodwill Hose Company No 1 sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 37th percentile within NJ. Charities of a similar size with the same main cause include Harrisville Rescue Squad ($75k), Muhlenberg County Fire Department Graham Division Inc ($75k) and Chapmanville Vol Fire Dept and Relief Association ($75k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 11% of the total. At year end it held assets of $172k against liabilities of $0, net assets of $172k.