Banks District Volunteer Fire Department Inc

Analysis

Banks District Volunteer Fire Department Inc is a registered charity in United States, based in Rock Cave, WV. It received its IRS tax-exemption ruling in September 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, Banks District Volunteer Fire Department Inc reported income of $767k and spending of $874k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $177k to $767k (+334%), an average of +44% a year. The sharpest change came in the year to December 2021, when income rose by 214%. Over the whole period it spent 103% 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, Banks District Volunteer Fire Department Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within WV. Charities of a similar size with the same main cause include The Groton Volunteer Firefighters Association Inc ($767k), McDowell County Rescue Squad & Ambulance Inc ($767k) and Block Island Volunteer Fire and Rescue Department ($766k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $95k (11% of expenses). Other salaries and wages came to $247k. At year end it held assets of $858k against liabilities of $725k, net assets of $133k. It reported 20 employees.