Goodwater Fire Department Incorporated
Goodwater Fire Department shows asset growth and zero officer compensation over three years.
EIN: 205399638 · Goodwater, AL · NTEE: M24 · Updated: 2026-03-28
Is Goodwater Fire Department Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodwater Fire Department Incorporated directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Goodwater Fire Department Incorporated
Goodwater Fire Department Incorporated (EIN: 205399638) is a nonprofit organization based in Goodwater, AL, classified under NTEE code M24. The organization reported total revenue of $250K and total assets of $250K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodwater Fire Department Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodwater Fire Department Incorporated is a small nonprofit that has been operating for 2 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of 24.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $327K |
| Total Expenses | $327K |
| Surplus / Deficit | +$0 |
| Total Assets | $327K |
| Total Liabilities | $327K |
| Net Assets | $0 |
| Operating Margin | 0.0% |
| Debt-to-Asset Ratio | 100.0% |
| Months of Reserves | 12.0 months |
Financial Health Grade: B
In 2023, Goodwater Fire Department Incorporated reported a surplus of $0 with revenue exceeding expenses, holds 12.0 months of operating reserves (strong position), has a debt-to-asset ratio of 100.0% (high leverage).
Financial Trends
Over 3 years of filings (2021–2023), Goodwater Fire Department Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 24.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +64.2% | +211.6% | +247.3% |
| 2022 | -5.8% | -57.4% | +45.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2024 |
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 Goodwater Fire Department Incorporated with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Goodwater Fire Department Incorporated allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 surplus of $0, with revenue exceeding expenses.
- Debt-to-asset ratio: 100.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating a volunteer leadership structure, which is highly efficient for an organization of this size with revenues ranging from $199,049 to $326,905.
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 Goodwater Fire Department Incorporated's IRS 990 filings:
- Fluctuating expense-to-revenue ratio in prior years (e.g., expenses exceeding revenue in 2021)
Strengths
The following positive indicators were identified for Goodwater Fire Department Incorporated:
- Consistent 0% officer compensation across all filings
- Significant asset growth from $64,762 in 2021 to $326,905 in 2023
- Mission-aligned NTEE code (M24 - Fire Prevention & Control)
- Latest filing (2023) shows revenue matching expenses, indicating sound budgeting for the period
Frequently Asked Questions about Goodwater Fire Department Incorporated
Is Goodwater Fire Department Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Goodwater Fire Department Incorporated (EIN: 205399638) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Goodwater Fire Department Incorporated spend its money?
Goodwater Fire Department Incorporated directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Goodwater Fire Department Incorporated tax-deductible?
Goodwater Fire Department Incorporated is registered as a tax-exempt nonprofit (EIN: 205399638). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Goodwater Fire Department Incorporated a good charity?
Based on the available IRS 990 data, the Goodwater Fire Department Incorporated appears to be a good charity. It consistently reports 0% officer compensation, indicating that all funds are directed towards its mission rather than executive salaries. The organization has also shown significant asset growth from $64,762 in 2021 to $326,905 in 2023, suggesting sound financial management and an ability to build capacity.
How has the organization's financial health changed over the past three years?
The organization's financial health has improved significantly. Assets have grown from $64,762 in 2021 to $326,905 in 2023. While 2021 saw expenses exceed revenue, 2022 had a substantial surplus, and 2023 showed a balanced budget, indicating a more stable financial position.
What is the significance of 0% officer compensation?
0% officer compensation is a strong positive indicator. It means that no funds are being used to pay the organization's top executives, suggesting a volunteer-led model. This maximizes the proportion of donations that can be directly applied to the organization's mission of fire prevention and control.
Filing History
IRS 990 filing history for Goodwater Fire Department Incorporated showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Goodwater Fire Department Incorporated's revenue has grown by 54.7%, moving from $211K to $327K. Total assets increased by 404.8% over the same period, from $65K to $327K. Total functional expenses rose by 32.6%, from $247K to $327K. In its most recent filing year (2023), Goodwater Fire Department Incorporated reported a surplus of $0, with revenue exceeding expenses. The organization holds $327K in liabilities against $327K in assets (debt-to-asset ratio: 100.0%), resulting in net assets of $0.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $327K | $327K | $327K | $327K | — | — |
| 2022 | $199K | $105K | $94K | $0 | — | View 990 |
| 2021 | $211K | $247K | $65K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $327K, expenses of $327K, and assets of $327K (revenue +64.2% year-over-year).
- 2022: Revenue of $199K, expenses of $105K, and assets of $94K (revenue -5.8% year-over-year).
- 2021: Revenue of $211K, expenses of $247K, and assets of $65K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodwater Fire Department Incorporated:
Data Sources and Methodology
This transparency report for Goodwater Fire Department Incorporated 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.