Loretto Volunteer Fire Dept

Analysis

Loretto Volunteer Fire Dept is a registered charity in United States, based in Cullman, AL. It received its IRS tax-exemption ruling in February 1995, 31 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, Loretto Volunteer Fire Dept reported income of $104k and spending of $86k, spending 82% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $90k to $104k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 90% 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, Loretto Volunteer Fire Dept sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within AL. Charities of a similar size with the same main cause include Washington Township Volunteer Fire Co No 1 Relief Association Inc ($104k), Warrensburg Volunteer Fire Company ($105k) and Hickory Township Volunteer Fire Company ($104k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. At year end it held assets of $440k against liabilities of $0, net assets of $440k.