Newark Volunteer Fire Company

Analysis

Newark Volunteer Fire Company is a registered charity in United States, based in Newark, MD. It received its IRS tax-exemption ruling in July 2002, 24 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, Newark Volunteer Fire Company reported income of $671k and spending of $582k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $649k to $671k (+3.4%), an average of +0.8% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 93% 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, Newark Volunteer Fire Company sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within MD. Charities of a similar size with the same main cause include Prospect Volunteer Ambulance Inc ($670k), Terra Alta Community Ambulance Squad Inc ($671k) and Monroeville Vol Fire Company No 5 & Relief Assn of Monroeville Pa ($669k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% and program service revenue 6.7% of the total. Other salaries and wages came to $319k. At year end it held assets of $2.7m against liabilities of $650k, net assets of $2.1m. It reported 25 employees.