Waterford Fire Engine Co No 1 Incorporated
Waterford Fire Engine Co No 1: Declining Revenue, Stable Assets
EIN: 222720843 · Waterford, CT · Updated: 2026-04-04
Is Waterford Fire Engine Co No 1 Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Waterford Fire Engine Co No 1 Incorporated directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Waterford Fire Engine Co No 1 Incorporated
Waterford Fire Engine Co No 1 Incorporated (EIN: 222720843) is a nonprofit organization based in Waterford, CT. The organization reported total revenue of $11K and total assets of $199K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waterford Fire Engine Co No 1 Incorporated'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 Waterford Fire Engine Co No 1 Incorporated with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Waterford Fire Engine Co No 1 Incorporated allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is not reported in the provided data, suggesting a volunteer-based leadership structure.
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 Waterford Fire Engine Co No 1 Incorporated's IRS 990 filings:
- Revenue has shown a significant decline from $28,031 in 2019 to $11,114 in 2024.
- Lack of detailed expense breakdown beyond total expenses (e.g., 'x11708' in 2024) makes program efficiency difficult to assess.
Strengths
The following positive indicators were identified for Waterford Fire Engine Co No 1 Incorporated:
- Assets have remained relatively stable over the past several years, indicating financial resilience despite revenue fluctuations.
- Consistent filing of financial data demonstrates a commitment to transparency.
- Zero reported liabilities and no reported executive compensation suggest a lean operational model.
Frequently Asked Questions about Waterford Fire Engine Co No 1 Incorporated
Is Waterford Fire Engine Co No 1 Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Waterford Fire Engine Co No 1 Incorporated (EIN: 222720843) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Waterford Fire Engine Co No 1 Incorporated spend its money?
Waterford Fire Engine Co No 1 Incorporated directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Waterford Fire Engine Co No 1 Incorporated tax-deductible?
Waterford Fire Engine Co No 1 Incorporated is registered as a tax-exempt nonprofit (EIN: 222720843). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Waterford Fire Engine Co No 1 Incorporated do?
Waterford Fire Engine Co No 1 Incorporated is a nonprofit organization in the Unknown sector, located in Waterford, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Waterford Fire Engine Co No 1 Incorporated have?
Waterford Fire Engine Co No 1 Incorporated reported total revenue of $11,114. Based on 13 IRS 990 filings on record.
What are Waterford Fire Engine Co No 1 Incorporated's total assets?
Waterford Fire Engine Co No 1 Incorporated holds total assets of $198,727 as reported in IRS 990 filings.
Where is Waterford Fire Engine Co No 1 Incorporated located?
Waterford Fire Engine Co No 1 Incorporated is based in Waterford, Connecticut.
What is Waterford Fire Engine Co No 1 Incorporated's EIN?
Waterford Fire Engine Co No 1 Incorporated's Employer Identification Number (EIN) is 222720843. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Waterford Fire Engine Co No 1 Incorporated?
Waterford Fire Engine Co No 1 Incorporated is classified under NTEE code Unknown (Unknown).
Is Waterford Fire Engine Co No 1 Incorporated a registered 501(c)(3)?
Waterford Fire Engine Co No 1 Incorporated appears in IRS records (EIN: 222720843). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Waterford Fire Engine Co No 1 Incorporated file IRS Form 990?
Yes, Waterford Fire Engine Co No 1 Incorporated has 13 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Waterford Fire Engine Co No 1 Incorporated's revenue in 2024?
In the 202406 filing period, Waterford Fire Engine Co No 1 Incorporated reported total revenue of $8,409, total expenses of $11,708, and net assets of $174,720.
Is Waterford Fire Engine Co No 1 Incorporated's revenue growing or declining?
Waterford Fire Engine Co No 1 Incorporated's revenue is declining. Revenue went from $13,199 (202306) to $8,409 (202406), a -36.3% change. Based on 13 filings on record.
What is Waterford Fire Engine Co No 1 Incorporated's most recent 990 filing?
The most recent IRS Form 990 filing for Waterford Fire Engine Co No 1 Incorporated covers tax period 202406. It shows revenue of $8,409, expenses of $11,708, total assets of $174,720, and liabilities of N/A.
How much does Waterford Fire Engine Co No 1 Incorporated spend on programs vs administration?
Based on IRS 990 analysis, Waterford Fire Engine Co No 1 Incorporated allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Waterford Fire Engine Co No 1 Incorporated a trustworthy charity?
Based on AI analysis of IRS 990 data, Waterford Fire Engine Co No 1 Incorporated appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Waterford Fire Engine Co No 1 Incorporated?
The following concerns were identified: Revenue has shown a significant decline from $28,031 in 2019 to $11,114 in 2024.. Lack of detailed expense breakdown beyond total expenses (e.g., 'x11708' in 2024) makes program efficiency difficult to assess.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Waterford Fire Engine Co No 1 Incorporated's strengths?
Positive indicators for Waterford Fire Engine Co No 1 Incorporated include: Assets have remained relatively stable over the past several years, indicating financial resilience despite revenue fluctuations.. Consistent filing of financial data demonstrates a commitment to transparency.. Zero reported liabilities and no reported executive compensation suggest a lean operational model.. These findings are derived from AI analysis of the organization's financial filings.
How does Waterford Fire Engine Co No 1 Incorporated compensate executives?
Executive compensation is not reported in the provided data, suggesting a volunteer-based leadership structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the declining revenue trend, what strategies are in place to ensure the long-term financial sustainability of the organization?
The provided data does not detail specific strategies, but the stable asset base and lack of liabilities could provide a buffer for future planning.
How does the organization manage its operational expenses, which have fluctuated significantly (e.g., $23,212 in 2020 vs. $1,423 in 2023), without a clear impact on asset levels?
The data suggests that operational expenses are managed to maintain asset stability, possibly through careful budgeting or reliance on non-cash contributions not reflected in revenue.
Filing History
IRS 990 filing history for Waterford Fire Engine Co No 1 Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Waterford Fire Engine Co No 1 Incorporated's revenue has declined by 55.5%, moving from $19K to $8K. Total assets increased by 67.8% over the same period, from $104K to $175K. Total functional expenses fell by 0.2%, from $12K to $12K. In its most recent filing year (2024), Waterford Fire Engine Co No 1 Incorporated reported a deficit of $3K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $8K | $12K | $175K | $0 | — | — |
| 2023 | $13K | $1K | $170K | $0 | — | — |
| 2022 | $19K | $20K | $162K | $0 | — | — |
| 2021 | $9K | $4K | $188K | $0 | — | — |
| 2020 | $24K | $23K | $152K | $0 | — | View 990 |
| 2019 | $28K | $20K | $162K | $0 | — | View 990 |
| 2018 | $18K | $20K | $153K | $0 | — | View 990 |
| 2017 | $27K | $13K | $155K | $0 | — | View 990 |
| 2016 | $16K | $10K | $155K | $14K | — | View 990 |
| 2015 | $21K | $15K | $135K | $0 | — | View 990 |
| 2014 | $27K | $11K | $128K | $0 | — | View 990 |
| 2013 | $25K | $16K | $113K | $0 | — | View 990 |
| 2012 | $19K | $12K | $104K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $8K, expenses of $12K, and assets of $175K (revenue -36.3% year-over-year).
- 2023: Revenue of $13K, expenses of $1K, and assets of $170K (revenue -31.9% year-over-year).
- 2022: Revenue of $19K, expenses of $20K, and assets of $162K (revenue +119.5% year-over-year).
- 2021: Revenue of $9K, expenses of $4K, and assets of $188K (revenue -62.9% year-over-year).
- 2020: Revenue of $24K, expenses of $23K, and assets of $152K (revenue -15.1% year-over-year).
- 2019: Revenue of $28K, expenses of $20K, and assets of $162K (revenue +54.3% year-over-year).
- 2018: Revenue of $18K, expenses of $20K, and assets of $153K (revenue -31.5% year-over-year).
- 2017: Revenue of $27K, expenses of $13K, and assets of $155K (revenue +63.1% year-over-year).
- 2016: Revenue of $16K, expenses of $10K, and assets of $155K (revenue -23.5% year-over-year).
- 2015: Revenue of $21K, expenses of $15K, and assets of $135K (revenue -20.5% year-over-year).
- 2014: Revenue of $27K, expenses of $11K, and assets of $128K (revenue +7.2% year-over-year).
- 2013: Revenue of $25K, expenses of $16K, and assets of $113K (revenue +32.0% year-over-year).
- 2012: Revenue of $19K, expenses of $12K, and assets of $104K.
Data Sources and Methodology
This transparency report for Waterford Fire Engine Co No 1 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.