Independent Fire Company No 1 Inc

Analysis

Independent Fire Company No 1 Inc is a registered charity in United States, based in Charles Town, WV. It received its IRS tax-exemption ruling in September 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Independent Fire Company No 1 Inc reported income of $775k and spending of $759k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $775k (-32%), an average of -9.3% a year. The sharpest change came in the year to December 2023, when income dropped by 44%. Over the whole period it spent 84% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Independent Fire Company No 1 Inc sits at the 78th percentile: it is larger than about 78% 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 Retired & Senior Volunteer Program of Ingham Eaton & Clinton Co ($775k), Project Pericles Inc ($775k) and Charitable Events Corporation ($774k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 18% of the total. Other salaries and wages came to $26k. At year end it held assets of $3.1m against liabilities of $189k, net assets of $2.9m. It reported 8 employees.