Hankins Northfork Volunteer Fire Department

Is Hankins Northfork Volunteer Fire Department Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Hankins Northfork Volunteer Fire Department directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Hankins Northfork Volunteer Fire Department

Hankins Northfork Volunteer Fire Department (EIN: 20713453) is a nonprofit organization based in Marion, NC, classified under NTEE code M24. The organization reported total revenue of $429K and total assets of $937K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hankins Northfork Volunteer Fire Department's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Hankins Northfork Volunteer Fire Department with a Mission Score of 92 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: 7%
• programs: 90%
• fundraising: 3%

According to IRS 990 filings, Hankins Northfork Volunteer Fire Department allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization reports 0% officer compensation across all available filings, indicating that executive leadership is likely volunteer-based or compensated through non-officer categories, which is highly favorable for a nonprofit of its size and mission.

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.

Strengths

The following positive indicators were identified for Hankins Northfork Volunteer Fire Department:

• Consistent revenue growth, from $214,971 in 2020 to $326,911 in 2023.
• Strong asset accumulation, increasing from $378,176 in 2020 to $504,303 in 2023.
• No reported officer compensation across all filings, indicating high program efficiency.
• Expenses consistently below revenue, demonstrating sound financial management (e.g., $255,840 expenses vs. $326,911 revenue in 2023).
• Low liabilities relative to assets, improving financial stability (e.g., $45,024 liabilities vs. $504,303 assets in 2023).

Frequently Asked Questions about Hankins Northfork Volunteer Fire Department

Filing History

IRS 990 filing history for Hankins Northfork Volunteer Fire Department showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Hankins Northfork Volunteer Fire Department's revenue has grown by 303.5%, moving from $81K to $327K. Total assets increased by 49.2% over the same period, from $338K to $504K. Total functional expenses rose by 97.5%, from $130K to $256K. In its most recent filing year (2023), Hankins Northfork Volunteer Fire Department reported a surplus of $71K, with revenue exceeding expenses. The organization holds $45K in liabilities against $504K in assets (debt-to-asset ratio: 8.9%), resulting in net assets of $459K.

Year-by-Year Financial Summary

• 2023: Revenue of $327K, expenses of $256K, and assets of $504K (revenue +33.4% year-over-year).
• 2022: Revenue of $245K, expenses of $234K, and assets of $561K (revenue -5.1% year-over-year).
• 2021: Revenue of $258K, expenses of $193K, and assets of $421K (revenue +20.0% year-over-year).
• 2020: Revenue of $215K, expenses of $118K, and assets of $378K (revenue -30.7% year-over-year).
• 2019: Revenue of $310K, expenses of $229K, and assets of $312K (revenue +77.9% year-over-year).
• 2018: Revenue of $174K, expenses of $139K, and assets of $230K (revenue +48.1% year-over-year).
• 2017: Revenue of $118K, expenses of $102K, and assets of $219K (revenue -6.1% year-over-year).
• 2016: Revenue of $125K, expenses of $135K, and assets of $230K (revenue +1.3% year-over-year).
• 2015: Revenue of $124K, expenses of $163K, and assets of $267K (revenue +31.9% year-over-year).
• 2014: Revenue of $94K, expenses of $163K, and assets of $324K (revenue -13.4% year-over-year).
• 2013: Revenue of $108K, expenses of $130K, and assets of $410K (revenue +32.9% year-over-year).
• 2012: Revenue of $82K, expenses of $115K, and assets of $297K (revenue +0.7% year-over-year).
• 2011: Revenue of $81K, expenses of $130K, and assets of $338K.

Data Sources and Methodology

This transparency report for Hankins Northfork Volunteer Fire Department 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.