Patterson Volunteer Fire Departmentinc
Patterson Volunteer Fire Department Inc. maintains strong financial health with consistent asset growth and zero officer compensation.
EIN: 205580518 · Patterson, NC · NTEE: M24 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $367K |
| Total Expenses | $330K |
| Program Spending | 90% |
| Net Assets | $1.3M |
| Transparency Score | 92/100 |
Is Patterson Volunteer Fire Departmentinc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Patterson Volunteer Fire Departmentinc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Patterson Volunteer Fire Departmentinc
Patterson Volunteer Fire Departmentinc (EIN: 205580518) is a nonprofit organization based in Patterson, NC, classified under NTEE code M24. The organization reported total revenue of $367K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Patterson Volunteer Fire Departmentinc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Patterson Volunteer Fire Departmentinc is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $410K |
| Total Expenses | $330K |
| Surplus / Deficit | +$80K |
| Total Assets | $1.8M |
| Total Liabilities | $488K |
| Net Assets | $1.3M |
| Operating Margin | 19.6% |
| Debt-to-Asset Ratio | 26.9% |
| Months of Reserves | 66.0 months |
Financial Health Grade: A
In 2023, Patterson Volunteer Fire Departmentinc reported a surplus of $80K with revenue exceeding expenses, holds 66.0 months of operating reserves (strong position), has a debt-to-asset ratio of 26.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Patterson Volunteer Fire Departmentinc's revenue has grown at a compound annual growth rate (CAGR) of 7.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +49.4% | +14.3% | -8.1% |
| 2022 | -19.9% | +2.0% | +9.0% |
| 2021 | +19.0% | -2.3% | -0.3% |
| 2020 | -22.2% | +0.9% | +0.5% |
| 2019 | +4.4% | -1.8% | +2.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Patterson Volunteer Fire Departmentinc 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Patterson Volunteer Fire Departmentinc 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 $80K, with revenue exceeding expenses.
- Debt-to-asset ratio: 26.9%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating a volunteer leadership structure which significantly reduces administrative costs for the organization.
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 Patterson Volunteer Fire Departmentinc:
- Consistent asset growth, reaching $1,814,441 in 2023.
- Zero officer compensation reported across all filings, indicating high efficiency and volunteer leadership.
- Generally operates with a revenue surplus, demonstrating financial stability (e.g., $410,196 revenue vs. $329,727 expenses in 2023).
- Strong history of IRS 990 filings (13 filings), indicating high transparency.
- Low liabilities relative to assets, with liabilities at $487,788 against assets of $1,814,441 in 2023.
Frequently Asked Questions about Patterson Volunteer Fire Departmentinc
Is Patterson Volunteer Fire Departmentinc a legitimate charity?
Patterson Volunteer Fire Departmentinc (EIN: 205580518) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $367K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Patterson Volunteer Fire Departmentinc spend its money?
Patterson Volunteer Fire Departmentinc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Patterson Volunteer Fire Departmentinc tax-deductible?
Patterson Volunteer Fire Departmentinc is registered as a tax-exempt nonprofit (EIN: 205580518). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Patterson Volunteer Fire Departmentinc's spending goes to programs?
Patterson Volunteer Fire Departmentinc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Patterson Volunteer Fire Departmentinc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Patterson Volunteer Fire Departmentinc is above average for NTEE category M24 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Patterson Volunteer Fire Departmentinc located?
Patterson Volunteer Fire Departmentinc is headquartered in Patterson, North Carolina and files with the IRS under EIN 205580518. It is classified under NTEE code M24.
How many years of IRS 990 filings does Patterson Volunteer Fire Departmentinc have?
Patterson Volunteer Fire Departmentinc has 13 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 $367K in total revenue.
Is Patterson Volunteer Fire Department Inc. a good charity?
Based on its financial data, Patterson Volunteer Fire Department Inc. appears to be a very good charity. It demonstrates strong financial health with growing assets, operates efficiently with 0% officer compensation, and consistently files its IRS 990s, indicating high transparency.
How has the organization's asset base changed over time?
The organization's assets have shown consistent growth, increasing from $1,538,813 in 2014 to $1,814,441 in 2023, indicating strong financial management and stability.
Does the organization rely heavily on paid staff for leadership?
No, the organization does not appear to rely on paid staff for leadership, as officer compensation has been reported as 0% in all available filings, suggesting a volunteer-driven executive team.
Filing History
IRS 990 filing history for Patterson Volunteer Fire Departmentinc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Patterson Volunteer Fire Departmentinc's revenue has grown by 125.9%, moving from $182K to $410K. Total assets increased by 30.4% over the same period, from $1.4M to $1.8M. Total functional expenses rose by 77.9%, from $185K to $330K. In its most recent filing year (2023), Patterson Volunteer Fire Departmentinc reported a surplus of $80K, with revenue exceeding expenses. The organization holds $488K in liabilities against $1.8M in assets (debt-to-asset ratio: 26.9%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $410K | $330K | $1.8M | $488K | — | — |
| 2022 | $275K | $288K | $2.0M | $581K | — | View 990 |
| 2021 | $343K | $283K | $1.8M | $403K | — | View 990 |
| 2020 | $288K | $289K | $1.8M | $468K | — | View 990 |
| 2019 | $370K | $287K | $1.8M | $458K | — | View 990 |
| 2018 | $355K | $292K | $1.8M | $490K | — | View 990 |
| 2017 | $344K | $250K | $1.7M | $522K | — | View 990 |
| 2016 | $371K | $253K | $1.7M | $554K | — | View 990 |
| 2015 | $343K | $243K | $1.6M | $620K | — | View 990 |
| 2014 | $463K | $206K | $1.5M | $647K | — | View 990 |
| 2013 | $216K | $197K | $1.3M | $683K | — | View 990 |
| 2012 | $175K | $207K | $1.3M | $724K | — | View 990 |
| 2011 | $182K | $185K | $1.4M | $744K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $410K, expenses of $330K, and assets of $1.8M (revenue +49.4% year-over-year).
- 2022: Revenue of $275K, expenses of $288K, and assets of $2.0M (revenue -19.9% year-over-year).
- 2021: Revenue of $343K, expenses of $283K, and assets of $1.8M (revenue +19.0% year-over-year).
- 2020: Revenue of $288K, expenses of $289K, and assets of $1.8M (revenue -22.2% year-over-year).
- 2019: Revenue of $370K, expenses of $287K, and assets of $1.8M (revenue +4.4% year-over-year).
- 2018: Revenue of $355K, expenses of $292K, and assets of $1.8M (revenue +3.1% year-over-year).
- 2017: Revenue of $344K, expenses of $250K, and assets of $1.7M (revenue -7.2% year-over-year).
- 2016: Revenue of $371K, expenses of $253K, and assets of $1.7M (revenue +8.2% year-over-year).
- 2015: Revenue of $343K, expenses of $243K, and assets of $1.6M (revenue -26.0% year-over-year).
- 2014: Revenue of $463K, expenses of $206K, and assets of $1.5M (revenue +113.9% year-over-year).
- 2013: Revenue of $216K, expenses of $197K, and assets of $1.3M (revenue +23.8% year-over-year).
- 2012: Revenue of $175K, expenses of $207K, and assets of $1.3M (revenue -3.7% year-over-year).
- 2011: Revenue of $182K, expenses of $185K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Patterson Volunteer Fire Departmentinc:
Data Sources and Methodology
This transparency report for Patterson Volunteer Fire Departmentinc 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.