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Corolla Fire and Rescue Foundation FY2020 filing

Tax-deductible

Corolla, NC501(c)(3)Public Safety & Disaster EIN 46-2712480Revenue $146K in FY2020

On file with the IRSPo Box 52, 27927-0052 · Corolla, NCTax-exempt since Jan 2017Supporting org, Type I — 509(a)(3)

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Provide support to existing 501(c)(3) organizations in the public safety, Fire and emergency services fields; own and maintain real estate used by such organizations.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $29K a year · 15% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
35 mo
of spending, in cash
Looks good: 34.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$146K
Spent
$191K
To programs
96%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$146K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$146K
FY2021$190K
FY2022$249K
FY2023$207K
FY2024$188K
FY2025$214K
Expenses
$191K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$191K
FY2021$127K
FY2022$239K
FY2023$214K
FY2024$105K
FY2025$140K
Net assets
$1.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.4M
FY2023$1.4M
FY2024$1.5M
FY2025$1.6M

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2016-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jan 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $183K Management & general 2% · $3K Fundraising 3% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Reid
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Southern
Secretary
$0Pt VII · Sec A
Matthew Hewes
Treasurer
$0Pt VII · Sec A
See Corolla Fire and Rescue Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports public safety groups and maintains their real estate.

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Provided by the organization

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1 program · $183K · in their own filed words · FY2020
01

Provide support to existing 501(c)(3) organizations in the public safety, fire and emergency services fields; own and manage real estate used by such organizations.

$183Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Lagos Family FoundationFY2024$250
Total grants receivedfrom 1 funder$250
Grants paid · 5 grants · $529K · 2022–2025
Corolla Fire and Rescue Squad INCNC · FY2025$82,000
Cfr Cares INCNC · FY2025$10,100
Corolla Fire and Rescue Squad INCNC · FY2024$63,000
Corolla Fire and Rescue Squad INCNC · FY2023$176,741
Corolla Fire and Rescue Squad INCNC · FY2022$196,864

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$146K
Ln 12
Gifts and grantsLn 1h$106K
Investment incomeLn 3$35K
Other incomeLn 4–11$5K
Money outPt IX
$191K
Ln 25
Programscol B$183K
Managementcol C$3K
Fundraisingcol D$5K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$554K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$106K
Investment incomeLn 3$35K
Other incomeLn 4–11$5K
Gains on assetsLn 7$15K
Total revenueLn 12$146K
Assets in detailPt X, end of year
CashLn 1$116K
SavingsLn 2$438K
Cash and savings togetherLn 1–2$554K
Land, buildings, equipmentLn 10c$824K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2K
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$567K$554K
Land, buildings, equipmentLn 10c$851K$824K
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$939$2K
Net assetsLn 32$1.4M$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$156K$156K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$4K$84$4K
Depreciation, depletion and amortizationLn 22$27K$27K
Other expenses (24a–d)Ln 24$2K$859$939
Total functional expensesLn 25$191K$183K$3K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $214K$140K$73K$1.6M 990 PDF
FY2024 $188K$105K$83K$1.5M 990 PDF
FY2023 $207K$214K−$7K$1.4M 990 PDF
FY2022 $249K$239K$10K$1.4M 990 PDF
FY2021 $190K$127K$63K$1.4M 990 PDF
FY2020 Viewing $146K$191K−$46K$1.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $145,740 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $91,095$106,192
I-9 Program service revenue$0
I-10 Investment incomePrior year $21,470$34,548
I-11 Other revenuePrior year $5,000$5,000
I-12 Total revenuePrior year $117,565$145,740
I-13 Grants and similar amounts paidPrior year $87,992$156,063
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $38,292$35,341
I-18 Total expensesPrior year $126,284$191,404
I-19 Revenue less expensesPrior year −$8,719−$45,664
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $145,740 across 6 lines filed
VIII-1f All other contributions, gifts and grants$106,192
VIII-1h Total contributions, gifts and grants$106,192
VIII-3 Investment incomeRelated to mission $19,296$19,296
VIII-6 Net rental income or lossUnrelated business $5,000$5,000
VIII-7 Net gain or loss on sales of assetsRelated to mission $15,252$15,252
VIII-12 Total revenueRelated to mission $34,548 · Unrelated business $5,000 · Excluded from tax $0$145,740
Part IX · Statement of functional expenses $191,404 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $156,063$156,063
IX-11c Accounting feesManagement $2,375$2,375
IX-13 Office expensesManagement $84 · Fundraising $4,081$4,165
IX-22 Depreciation, depletion and amortizationPrograms $27,003$27,003
IX-24 Other expenses (24a–d)Management $859 · Fundraising $939$1,798
IX-25 Total functional expensesPrograms $183,066 · Management $3,318 · Fundraising $5,020$191,404
Part X · Balance sheet $1,378,244 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $88,778$116,112
X-2 Savings and temporary cash investmentsStart of year $478,574$438,374
X-10c Land, buildings and equipment, netStart of year $850,761$823,758
X-16 Total assetsStart of year $1,423,113$1,378,244
X-17 Accounts payable and accrued expensesStart of year $939$1,734
X-26 Total liabilitiesStart of year $939$1,734
X-27 Net assets without donor restrictionsStart of year $1,422,174$1,361,808
X-28 Net assets with donor restrictions$14,702
X-32 Total net assets or fund balancesStart of year $1,422,174$1,376,510
X-33 Total liabilities and net assetsStart of year $1,423,113$1,378,244
Part XI · Reconciliation of net assets $1,376,510 net assets at year end
XI-1 Total revenue$145,740
XI-2 Total expenses$191,404
XI-3 Revenue less expenses−$45,664
XI-4 Net assets at start of year$1,422,174
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,376,510

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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