Hancock Fire Company Inc

Analysis

Hancock Fire Company Inc is a registered charity in United States, based in Hancock, MD. It received its IRS tax-exemption ruling in April 1992, 34 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, Hancock Fire Company Inc reported income of $470k and spending of $399k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $316k to $470k (+49%), an average of +10% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 82% 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, Hancock Fire Company Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MD. Charities of a similar size with the same main cause include Pierre Part-Belle River Fire Department Inc ($469k), Champion Fire Department ($470k) and Hospital Foundation of Decatur Co Inc ($469k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 2.8% of the total. Other salaries and wages came to $17k. At year end it held assets of $1.3m against liabilities of $247k, net assets of $1.0m. It reported 3 employees.