Magnet Cove Area Fire Protection Association

Analysis

Magnet Cove Area Fire Protection Association is a registered charity in United States, based in Malvern, AR. It received its IRS tax-exemption ruling in December 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Magnet Cove Area Fire Protection Association reported income of $82k and spending of $86k, spending 105% of its income. Across the 3 years on record, from May 2022 to December 2023, income fell from $135k to $82k (-39%), an average of -22% a year. The sharpest change came in the year to December 2023, when income dropped by 26%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magnet Cove Area Fire Protection Association sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within AR. Charities of a similar size with the same main cause include Crimestoppers of Champaign County Inc ($82k), McHenry Mansion Foundation ($82k) and Rhea Medical Healthcare Foundation ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 26% of the total. At year end it held assets of $94k against liabilities of $0, net assets of $94k.