Carle Place Hook Ladder & Hose Co 1
Carle Place Hook Ladder & Hose Co 1 reports deficit spending and significant liability increase in 2023 after years of asset growth.
EIN: 111992142 · Carle Place, NY · NTEE: M99 · Updated: 2026-03-28
Is Carle Place Hook Ladder & Hose Co 1 Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carle Place Hook Ladder & Hose Co 1 directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carle Place Hook Ladder & Hose Co 1
Carle Place Hook Ladder & Hose Co 1 (EIN: 111992142) is a nonprofit organization based in Carle Place, NY, classified under NTEE code M99. The organization reported total revenue of $2.6M and total assets of $6.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carle Place Hook Ladder & Hose Co 1's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carle Place Hook Ladder & Hose Co 1 is a mid-size nonprofit that has been operating for 15 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-137,904 |
| Total Assets | $6.6M |
| Total Liabilities | $1.4M |
| Net Assets | $5.2M |
| Operating Margin | -8.1% |
| Debt-to-Asset Ratio | 20.6% |
| Months of Reserves | 43.1 months |
Financial Health Grade: B
In 2023, Carle Place Hook Ladder & Hose Co 1 reported a deficit of $138K with expenses exceeding revenue, holds 43.1 months of operating reserves (strong position), has a debt-to-asset ratio of 20.6% (moderate leverage).
Financial Trends
Over 12 years of filings (2012–2023), Carle Place Hook Ladder & Hose Co 1's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.9% | +12.5% | +22.7% |
| 2022 | +3.0% | +5.3% | +1.9% |
| 2021 | +1.7% | +15.3% | +2.5% |
| 2020 | +2.8% | -7.8% | +6.4% |
| 2019 | +3.8% | +9.8% | -1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Carle Place Hook Ladder & Hose Co 1 with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Carle Place Hook Ladder & Hose Co 1 allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $138K, with expenses exceeding revenue.
- Debt-to-asset ratio: 20.6%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is likely volunteer-based, which is a positive sign for resource allocation and efficiency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Carle Place Hook Ladder & Hose Co 1's IRS 990 filings:
- Expenses ($1,838,141) exceeded revenue ($1,700,237) in the most recent 2023 filing period.
- Significant increase in liabilities from $0 in 2022 to $1,361,071 in 2023, which is a substantial change in financial structure.
Strengths
The following positive indicators were identified for Carle Place Hook Ladder & Hose Co 1:
- Consistent history of 990 filings, indicating transparency.
- No officer compensation reported across all available filings, suggesting volunteer leadership and efficient use of funds.
- Steady growth in assets over many years, reaching $6,737,708, indicating historical financial health.
- Clear mission focus (NTEE M99 - Fire Protection) with consistent operational activity.
Frequently Asked Questions about Carle Place Hook Ladder & Hose Co 1
Is Carle Place Hook Ladder & Hose Co 1 a legitimate charity?
Based on AI analysis of IRS 990 filings, Carle Place Hook Ladder & Hose Co 1 (EIN: 111992142) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Carle Place Hook Ladder & Hose Co 1 spend its money?
Carle Place Hook Ladder & Hose Co 1 directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carle Place Hook Ladder & Hose Co 1 tax-deductible?
Carle Place Hook Ladder & Hose Co 1 is registered as a tax-exempt nonprofit (EIN: 111992142). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Carle Place Hook Ladder & Hose Co 1 a good charity?
Based on the available data, the organization appears to be a good charity, particularly due to its consistent mission-related activities (fire protection) and the absence of officer compensation. However, the recent 2023 financial period shows a deficit and a substantial increase in liabilities, which warrants further investigation into the cause and its long-term impact.
What caused the significant increase in liabilities in 2023?
The IRS 990 data indicates liabilities jumped from $0 in 2022 to $1,361,071 in 2023. Without more detailed financial statements, the specific cause (e.g., new debt, capital project, deferred revenue) cannot be determined from the provided summary.
How does the organization fund its operations?
The organization consistently reports substantial revenue, ranging from $1.2 million to $1.7 million annually. Given its NTEE code, this revenue likely comes from a combination of government contracts, community support, and potentially membership fees or grants related to fire protection services.
Is the organization financially stable despite the 2023 deficit?
While the 2023 deficit and increased liabilities are concerning, the organization still holds significant assets ($6,606,984 in 2023). Its long history of asset growth and positive net income in prior years suggests a degree of underlying stability, but the 2023 trend needs to be reversed to maintain long-term health.
Filing History
IRS 990 filing history for Carle Place Hook Ladder & Hose Co 1 showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Carle Place Hook Ladder & Hose Co 1's revenue has grown by 24.9%, moving from $1.4M to $1.7M. Total assets increased by 73.7% over the same period, from $3.8M to $6.6M. Total functional expenses rose by 97.2%, from $932K to $1.8M. In its most recent filing year (2023), Carle Place Hook Ladder & Hose Co 1 reported a deficit of $138K, with expenses exceeding revenue. The organization holds $1.4M in liabilities against $6.6M in assets (debt-to-asset ratio: 20.6%), resulting in net assets of $5.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.8M | $6.6M | $1.4M | — | — |
| 2022 | $1.7M | $1.6M | $5.4M | $0 | — | View 990 |
| 2021 | $1.7M | $1.6M | $5.3M | $0 | — | View 990 |
| 2020 | $1.7M | $1.3M | $5.2M | $0 | — | View 990 |
| 2019 | $1.6M | $1.5M | $4.8M | $0 | — | View 990 |
| 2018 | $1.5M | $1.3M | $4.9M | $234K | — | View 990 |
| 2017 | $1.4M | $1.4M | $4.7M | $261K | — | View 990 |
| 2016 | $1.3M | $1.2M | $4.7M | $290K | — | View 990 |
| 2015 | $1.3M | $1.1M | $4.3M | $4K | — | View 990 |
| 2014 | $1.2M | $1.1M | $4.1M | $4K | — | View 990 |
| 2013 | $1.2M | $990K | $4.0M | $4K | — | View 990 |
| 2012 | $1.4M | $932K | $3.8M | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.8M, and assets of $6.6M (revenue -1.9% year-over-year).
- 2022: Revenue of $1.7M, expenses of $1.6M, and assets of $5.4M (revenue +3.0% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.6M, and assets of $5.3M (revenue +1.7% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.3M, and assets of $5.2M (revenue +2.8% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.5M, and assets of $4.8M (revenue +3.8% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.3M, and assets of $4.9M (revenue +8.6% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.4M, and assets of $4.7M (revenue +6.9% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.2M, and assets of $4.7M (revenue +6.3% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.1M, and assets of $4.3M (revenue +4.4% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.1M, and assets of $4.1M (revenue -0.5% year-over-year).
- 2013: Revenue of $1.2M, expenses of $990K, and assets of $4.0M (revenue -11.3% year-over-year).
- 2012: Revenue of $1.4M, expenses of $932K, and assets of $3.8M.
Data Sources and Methodology
This transparency report for Carle Place Hook Ladder & Hose Co 1 is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.