Goodwill Volunteer Fire Company Number 1

Analysis

Goodwill Volunteer Fire Company Number 1 is a registered charity in United States, based in Lonaconing, MD. It received its IRS tax-exemption ruling in May 2002, 24 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, Goodwill Volunteer Fire Company Number 1 reported income of $212k and spending of $169k, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $118k to $212k (+79%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Goodwill Volunteer Fire Company Number 1 sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within MD. Charities of a similar size with the same main cause include Rabun County Family Connections Inc ($212k), Alexander Memorial Library Lasalle County ($212k) and Taylorville Ministerial Association Inc ($212k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $4,200 (2.5% of expenses). At year end it held assets of $720k against liabilities of $0, net assets of $720k.