Fairmount Fire Company No 1

Analysis

Fairmount Fire Company No 1 is a registered charity in United States, based in Long Valley, NJ. It received its IRS tax-exemption ruling in June 1996, 30 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, Fairmount Fire Company No 1 reported income of $199k and spending of $173k, spending 87% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $174k to $199k (+14%), an average of +4.5% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 78% 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, Fairmount Fire Company No 1 sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 61st percentile within NJ. Charities of a similar size with the same main cause include One Community Foundation ($199k), A E Crandall Hook and Ladder Company Inc ($199k) and Fork Mountain Volunteer Fire and Rescue Inc ($199k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% of the total. At year end it held assets of $617k against liabilities of $0, net assets of $617k.