Grace Chapel Volunteer Fire

Analysis

Grace Chapel Volunteer Fire is a registered charity in United States, based in Granite Falls, NC. It received its IRS tax-exemption ruling in August 1991, 35 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 June 2024, Grace Chapel Volunteer Fire reported income of $1.1m and spending of $608k, leaving 44% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $685k to $1.1m (+59%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 62% 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, Grace Chapel Volunteer Fire sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Malta Ridge Volunteer Fire Co Inc ($1.1m), Sabine Volunteer Fire Department Inc ($1.1m) and Band Together ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 30% and program service revenue 68% of the total. Other salaries and wages came to $287k. At year end it held assets of $5.8m against liabilities of $6,159, net assets of $5.8m.