Independence Volunteer Fire Dept
EIN: 541768319 · Independence, VA
| Metric | Value |
|---|---|
| Total Revenue | $231K |
| Total Expenses | $47K |
| Net Assets | $2.4M |
Is Independence Volunteer Fire Dept Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Independence Volunteer Fire Dept
Independence Volunteer Fire Dept (EIN: 541768319) is a nonprofit organization based in Independence, VA. The organization reported total revenue of $231K and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Independence Volunteer Fire Dept's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Independence Volunteer Fire Dept is a small nonprofit that has been operating for 33 years, with 8 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $228K |
| Total Expenses | $47K |
| Surplus / Deficit | +$181K |
| Total Assets | $2.7M |
| Total Liabilities | $310K |
| Net Assets | $2.4M |
| Operating Margin | 79.5% |
| Debt-to-Asset Ratio | 11.5% |
| Months of Reserves | 694.2 months |
Financial Health Grade: A
In 2023, Independence Volunteer Fire Dept reported a surplus of $181K with revenue exceeding expenses, holds 694.2 months of operating reserves (strong position), has a debt-to-asset ratio of 11.5% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2023), Independence Volunteer Fire Dept's revenue has grown at a compound annual growth rate (CAGR) of 11.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +169.4% | +23.3% | +18.0% |
| 2022 | -10.9% | +9.6% | +0.4% |
| 2020 | +20.6% | -15.3% | +1.2% |
| 2019 | -72.1% | +19.6% | +3.8% |
| 2017 | +326.9% | -41.5% | +12.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Independence Volunteer Fire Dept has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Independence Volunteer Fire Dept with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $181K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.5%.
Frequently Asked Questions about Independence Volunteer Fire Dept
Is Independence Volunteer Fire Dept a legitimate charity?
Independence Volunteer Fire Dept (EIN: 541768319) is a registered tax-exempt nonprofit based in Virginia. It has 8 years of IRS 990 filings on record. Total revenue: $231K. No red flags identified. Financial health grade: A.
How does Independence Volunteer Fire Dept spend its money?
Independence Volunteer Fire Dept reported $231K in total revenue in IRS 990 filings. 8 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Independence Volunteer Fire Dept tax-deductible?
Independence Volunteer Fire Dept is registered as a tax-exempt nonprofit (EIN: 541768319). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Independence Volunteer Fire Dept located?
Independence Volunteer Fire Dept is headquartered in Independence, Virginia and files with the IRS under EIN 541768319.
How many years of IRS 990 filings does Independence Volunteer Fire Dept have?
Independence Volunteer Fire Dept has 8 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $231K in total revenue.
Filing History
IRS 990 filing history for Independence Volunteer Fire Dept showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2023), Independence Volunteer Fire Dept's revenue has grown by 281.8%, moving from $60K to $228K. Total assets increased by 57% over the same period, from $1.7M to $2.7M. Total functional expenses rose by 45.1%, from $32K to $47K. In its most recent filing year (2023), Independence Volunteer Fire Dept reported a surplus of $181K, with revenue exceeding expenses. The organization holds $310K in liabilities against $2.7M in assets (debt-to-asset ratio: 11.5%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $228K | $47K | $2.7M | $310K | — | View 990 |
| 2022 | $85K | $38K | $2.3M | $80K | — | View 990 |
| 2020 | $95K | $35K | $2.3M | $205K | — | View 990 |
| 2019 | $79K | $41K | $2.3M | $238K | — | View 990 |
| 2017 | $282K | $34K | $2.2M | $287K | — | — |
| 2013 | $66K | $58K | $1.9M | $409K | — | View 990 |
| 2012 | $157K | $31K | $1.9M | $430K | — | View 990 |
| 2011 | $60K | $32K | $1.7M | $343K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $228K, expenses of $47K, and assets of $2.7M (revenue +169.4% year-over-year).
- 2022: Revenue of $85K, expenses of $38K, and assets of $2.3M (revenue -10.9% year-over-year).
- 2020: Revenue of $95K, expenses of $35K, and assets of $2.3M (revenue +20.6% year-over-year).
- 2019: Revenue of $79K, expenses of $41K, and assets of $2.3M (revenue -72.1% year-over-year).
- 2017: Revenue of $282K, expenses of $34K, and assets of $2.2M (revenue +326.9% year-over-year).
- 2013: Revenue of $66K, expenses of $58K, and assets of $1.9M (revenue -57.8% year-over-year).
- 2012: Revenue of $157K, expenses of $31K, and assets of $1.9M (revenue +162.4% year-over-year).
- 2011: Revenue of $60K, expenses of $32K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Independence Volunteer Fire Dept:
Data Sources and Methodology
This transparency report for Independence Volunteer Fire Dept 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.