Washington Engine Co No 1 - Matawan

Analysis

Washington Engine Co No 1 - Matawan is a registered charity in United States, based in Matawan, NJ. It received its IRS tax-exemption ruling in December 2022, 4 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, Washington Engine Co No 1 - Matawan reported income of $120k and spending of $215k, spending 179% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $241k to $120k (-50%), an average of -16% a year. The sharpest change came in the year to December 2020, when income dropped by 54%. Over the whole period it spent 114% 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, Washington Engine Co No 1 - Matawan sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 49th percentile within NJ. Charities of a similar size with the same main cause include Eastaboga Volunteer Fire Department Inc ($120k), Jason Rural Fire Association ($120k) and Colorado Emergency Preparedness Partnership Inc ($120k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 72% of the total. At year end it held assets of $1 against liabilities of $102k, net assets of -$102k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.