Argonaut

Analysis

Argonaut is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in February 2012, 14 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 2022, Argonaut reported income of $418k and spending of $614k, spending 147% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $627k to $418k (-33%), an average of -13% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 117% 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, Argonaut sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within OH. Charities of a similar size with the same main cause include Lowell Volunteer Fire Department ($418k), Franklin Township Fire Department Inc ($418k) and Sheffield-Calahaln Volunteer Fire Department Inc Rescue Inc ($417k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 79% and program service revenue 9.5% of the total. Compensation of current officers, directors and key employees was $105k (17% of expenses). Other salaries and wages came to $170k. At year end it held assets of $308k against liabilities of $372k, net assets of -$64k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.