Magnolia Volunteer Fire Company

Analysis

Magnolia Volunteer Fire Company is a registered charity in United States, based in Magnolia, DE. It received its IRS tax-exemption ruling in June 1988, 38 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, Magnolia Volunteer Fire Company reported income of $1.5m and spending of $1.0m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.5m (+19%), an average of +4.4% a year. Over the whole period it spent 68% 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, Magnolia Volunteer Fire Company sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within DE. Charities of a similar size with the same main cause include Charlotte County Rescue Squad Inc ($1.5m), Jarrettsville Volunteer Fire Co Inc ($1.5m) and Regional Ems Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 18% of the total. Other salaries and wages came to $298k. At year end it held assets of $7.4m against liabilities of $50k, net assets of $7.4m. It reported 27 employees.