Holloway Terrace Volunteer Fire Company No 1

Analysis

Holloway Terrace Volunteer Fire Company No 1 is a registered charity in United States, based in New Castle, DE. It received its IRS tax-exemption ruling in February 2000, 26 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 September 2023, Holloway Terrace Volunteer Fire Company No 1 reported income of $1.9m and spending of $1.4m, leaving 26% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.3m to $1.9m (+46%), an average of +9.8% a year. The sharpest change came in the year to September 2022, when income rose by 23%. Over the whole period it spent 81% 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, Holloway Terrace Volunteer Fire Company No 1 sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within DE. Charities of a similar size with the same main cause include Union Emergency Medical Unit of Union New Jersey ($1.9m), West County Paramedic Association ($1.9m) and 45th Parallel Emergency Medical Services ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 78% and program service revenue 13% of the total. Other salaries and wages came to $415k. At year end it held assets of $7.3m against liabilities of $1.2m, net assets of $6.1m. It reported 24 employees.