Virginia Beach Rescue Squad Foundation Inc

Analysis

Virginia Beach Rescue Squad Foundation Inc is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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, Virginia Beach Rescue Squad Foundation Inc reported income of $895k and spending of $2.5m, spending 276% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $895k (-32%), an average of -9.1% a year. The sharpest change came in the year to December 2022, when income dropped by 51%. Over the whole period it spent 145% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia Beach Rescue Squad Foundation Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within VA. Charities of a similar size with the same main cause include Ogeechee Technical College Foundation Inc ($895k), Hope Ignites Colorado ($896k) and Solana Beach Schools Foundation ($895k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% of the total. Compensation of current officers, directors and key employees was $110k (4.5% of expenses). Other salaries and wages came to $135k. At year end it held assets of $15.2m against liabilities of $2.6m, net assets of $12.6m. It reported 4 employees.

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.