Vigilant Engine & Hook & Ladder Co Inc

Is Vigilant Engine & Hook & Ladder Co Inc Legit?

Appears Legitimate

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

Vigilant Engine & Hook & Ladder Co Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Vigilant Engine & Hook & Ladder Co Inc

Vigilant Engine & Hook & Ladder Co Inc (EIN: 111441443) is a nonprofit organization based in Great Neck, NY, classified under NTEE code M24. The organization reported total revenue of $4.3M and total assets of $6.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Vigilant Engine & Hook & Ladder Co Inc'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 Vigilant Engine & Hook & Ladder Co Inc 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, Vigilant Engine & Hook & Ladder Co Inc 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based. This significantly reduces administrative costs and demonstrates a strong commitment to directing resources towards its 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 Vigilant Engine & Hook & Ladder Co Inc:

• Consistent revenue growth, from $2,775,169 in 2019 to $3,755,385 in 2023.
• Steady asset accumulation, reaching $6,482,531 in 2023.
• Consistent operational surpluses, with revenue generally exceeding expenses (e.g., $3,755,385 revenue vs. $3,645,019 expenses in 2023).
• No reported officer compensation, indicating a volunteer-driven leadership and efficient use of funds.
• Relatively low liabilities compared to assets, suggesting strong financial solvency.

Frequently Asked Questions about Vigilant Engine & Hook & Ladder Co Inc

Filing History

IRS 990 filing history for Vigilant Engine & Hook & Ladder Co Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Vigilant Engine & Hook & Ladder Co Inc's revenue has grown by 32.9%, moving from $2.8M to $3.8M. Total assets increased by 28.1% over the same period, from $5.1M to $6.5M. Total functional expenses rose by 36.6%, from $2.7M to $3.6M. In its most recent filing year (2023), Vigilant Engine & Hook & Ladder Co Inc reported a surplus of $110K, with revenue exceeding expenses. The organization holds $415K in liabilities against $6.5M in assets (debt-to-asset ratio: 6.4%), resulting in net assets of $6.1M.

Year-by-Year Financial Summary

• 2023: Revenue of $3.8M, expenses of $3.6M, and assets of $6.5M (revenue +5.8% year-over-year).
• 2022: Revenue of $3.5M, expenses of $3.3M, and assets of $6.5M (revenue +18.6% year-over-year).
• 2021: Revenue of $3.0M, expenses of $3.1M, and assets of $6.1M (revenue -3.3% year-over-year).
• 2020: Revenue of $3.1M, expenses of $2.9M, and assets of $5.8M (revenue +11.6% year-over-year).
• 2019: Revenue of $2.8M, expenses of $2.9M, and assets of $5.6M (revenue -3.5% year-over-year).
• 2018: Revenue of $2.9M, expenses of $2.8M, and assets of $5.7M (revenue -3.2% year-over-year).
• 2017: Revenue of $3.0M, expenses of $2.6M, and assets of $5.8M (revenue +1.5% year-over-year).
• 2016: Revenue of $2.9M, expenses of $2.6M, and assets of $5.6M (revenue +3.8% year-over-year).
• 2015: Revenue of $2.8M, expenses of $2.6M, and assets of $5.4M (revenue +0.1% year-over-year).
• 2014: Revenue of $2.8M, expenses of $2.6M, and assets of $5.4M (revenue +0.8% year-over-year).
• 2013: Revenue of $2.8M, expenses of $2.6M, and assets of $5.2M (revenue -1.3% year-over-year).
• 2012: Revenue of $2.8M, expenses of $2.5M, and assets of $5.1M (revenue +0.2% year-over-year).
• 2011: Revenue of $2.8M, expenses of $2.7M, and assets of $5.1M.

Data Sources and Methodology

This transparency report for Vigilant Engine & Hook & Ladder Co Inc 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.