Corolla Fire and Rescue Squad Inc

Analysis

Corolla Fire and Rescue Squad Inc is a registered charity in United States, based in Corolla, NC. It received its IRS tax-exemption ruling in May 1996, 30 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 2023, Corolla Fire and Rescue Squad Inc reported income of $495k and spending of $493k, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $272k to $495k (+82%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 132%. Over the whole period it spent 99% 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, Corolla Fire and Rescue Squad Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Lake Ariel Fire Company ($494k), Greenbackville Volunteer Fire Department Incorporated ($495k) and Hummels Wharf Fire Co Inc ($494k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $59k. At year end it held assets of $1.2m against liabilities of $1,309, net assets of $1.2m. It reported 2 employees.