Volunteer Firemen of Magnolia Inc

Analysis

Volunteer Firemen of Magnolia Inc is a registered charity in United States, based in Magnolia, OH. It received its IRS tax-exemption ruling in July 2005, 21 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 Firemen of Magnolia Inc reported income of $163k and spending of $163k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $107k to $163k (+53%), an average of +53% a year. The sharpest change came in the year to December 2023, when income rose by 53%. Over the whole period it spent 100% 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 Firemen of Magnolia Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 50th percentile within OH. Charities of a similar size with the same main cause include Garden City Fire Department Inc ($163k), Clements Fire Department Inc ($163k) and Lawrenceville Fire Department ($163k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 58% of the total. At year end it held assets of $500k against liabilities of $0, net assets of $500k.