Volunteer Fire Company No 1 of Chesapeake City Incorporated

Analysis

Volunteer Fire Company No 1 of Chesapeake City Incorporated is a registered charity in United States, based in Chesapeake Cy, MD. It received its IRS tax-exemption ruling in March 2024, 2 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, Volunteer Fire Company No 1 of Chesapeake City Incorporated reported income of $653k and spending of $526k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $930k to $653k (-30%), an average of -8.5% a year. The sharpest change came in the year to December 2020, when income dropped by 47%. Over the whole period it spent 93% 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, Volunteer Fire Company No 1 of Chesapeake City Incorporated sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within MD. Charities of a similar size with the same main cause include Waco Community Volunteer Fire Department Inc ($652k), Briceland Volunteer Fire Department ($653k) and Loudon County Volunteer Emergency Rescue Squad ($652k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 21% of the total. At year end it held assets of $2.7m against liabilities of $20k, net assets of $2.7m.