Wachapreague Volunteer Fire Co Inc

Analysis

Wachapreague Volunteer Fire Co Inc is a registered charity in United States, based in Wachapreague, VA. 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 December 2023, Wachapreague Volunteer Fire Co Inc reported income of $617k and spending of $411k, leaving 33% of income unspent that year. Across the 6 years on record, from April 2019 to December 2023, income grew from $440k to $617k (+40%), an average of +7.0% a year. The sharpest change came in the year to December 2020, when income rose by 53%. Over the whole period it spent 67% 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, Wachapreague Volunteer Fire Co Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within VA. Charities of a similar size with the same main cause include Lake Harmony Rescue Squad and Ambulance Corps Inc ($616k), Norlina Volunteer Fire Department Inc ($617k) and Penn Township Volunteer Fire Department ($616k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 32% of the total. At year end it held assets of $3.0m against liabilities of $0, net assets of $3.0m.