Civic Intelligence

Walnut Cove Volunteer Fire Department and Rescue Squad Incorp

990 • Fiscal year 2021 • EIN 58-1574224

Jul 01, 2020 to Jun 30, 2021 • Filed on May 10, 2022

Organization ProfileN/A
PO Box 532Walnut Cove, NC 27052

(336) 591-4477

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.28x

Higher debt load relative to assets than 68% of similar nonprofits.

2021 filings • NTEE M24Z • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

45th percentile

0.39x

Higher debt load relative to revenue than 45% of similar nonprofits.

2021 filings • NTEE M24Z • $1M-$5M nonprofits • Source year 2021

Net Margin

95th percentile

56%

Higher net margin than 95% of similar nonprofits.

2021 filings • NTEE M24Z • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

86th percentile

$16,997

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2021 filings • NTEE M24Z • $1M-$5M nonprofits • Source year 2021

Asset Growth

97th percentile

60%

Faster asset growth than 97% of similar nonprofits.

2021 filings • NTEE M24Z • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

99th percentile

189%

Faster revenue growth than 99% of similar nonprofits.

2021 filings • NTEE M24Z • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,639,108

Up $615,537 (+60%) from 2020

Net Assets

Up

$1,183,571

Up $659,596 (+126%) from 2020

Liabilities

Down

$455,537

Down $44,059 (-8.8%) from 2020

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin95th percentile

Revenue

Up

$1,175,433

Up $768,322 (+189%) from 2020

Expenses

Up

$515,837

Up $15,011 (+3.0%) from 2020

Net Income

Up

$659,596

Up $753,311 (+804%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,010,944Liabilities 2011: $138,789Net Assets 2011: $872,1552011Assets 2012: $1,333,675Liabilities 2012: $455,661Net Assets 2012: $878,0142012Assets 2013: $1,280,632Liabilities 2013: $430,147Net Assets 2013: $850,4852013Assets 2014: $1,152,327Liabilities 2014: $860,933Net Assets 2014: $291,3942014Assets 2015: $1,132,400Liabilities 2015: $275,267Net Assets 2015: $857,1332015Assets 2016: $1,517,756Liabilities 2016: $661,059Net Assets 2016: $856,6972016Assets 2017: $1,375,668Liabilities 2017: $621,757Net Assets 2017: $753,9112017Assets 2018: $1,264,922Liabilities 2018: $580,887Net Assets 2018: $684,0352018Assets 2019: $1,192,399Liabilities 2019: $574,709Net Assets 2019: $617,6902019Assets 2020: $1,023,571Liabilities 2020: $499,596Net Assets 2020: $523,9752020Assets 2021: $1,639,108Liabilities 2021: $455,537Net Assets 2021: $1,183,5712021Assets 2022: $1,448,030Liabilities 2022: $409,537Net Assets 2022: $1,038,4932022Assets 2023: $1,307,971Liabilities 2023: $362,195Net Assets 2023: $945,7762023Assets 2024: $1,153,604Liabilities 2024: $313,344Net Assets 2024: $840,2602024Assets 2025: $1,184,211Liabilities 2025: $262,732Net Assets 2025: $921,4792025

Highlighted filing

2021

Assets$1,639,108
Liabilities$455,537
Net Assets$1,183,571
Open 2021 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $246,608Expenses 2011: $206,992Net Income 2011: $39,6162011Revenue 2012: $253,382Expenses 2012: $247,523Net Income 2012: $5,8592012Revenue 2013: $304,877Expenses 2013: $332,406Net Income 2013: -$27,5292013Revenue 2014: $354,333Expenses 2014: $343,885Net Income 2014: $10,4482014Revenue 2015: $357,810Expenses 2015: $361,610Net Income 2015: -$3,8002015Revenue 2016: $379,194Expenses 2016: $379,630Net Income 2016: -$4362016Revenue 2017: $372,238Expenses 2017: $475,024Net Income 2017: -$102,7862017Revenue 2018: $367,436Expenses 2018: $437,312Net Income 2018: -$69,8762018Revenue 2019: $419,286Expenses 2019: $485,631Net Income 2019: -$66,3452019Revenue 2020: $407,111Expenses 2020: $500,826Net Income 2020: -$93,7152020Revenue 2021: $1,175,433Expenses 2021: $515,837Net Income 2021: $659,5962021Revenue 2022: $511,816Expenses 2022: $656,894Net Income 2022: -$145,0782022Revenue 2023: $570,034Expenses 2023: $662,751Net Income 2023: -$92,7172023Revenue 2024: $603,378Expenses 2024: $708,894Net Income 2024: -$105,5162024Revenue 2025: $873,705Expenses 2025: $792,486Net Income 2025: $81,2192025

Highlighted filing

2021

Revenue$1,175,433
Expenses$515,837
Net Income$659,596
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 10, 2022
Return Version
2020v4.0
Gross Receipts
$1,175,433
Mission and Program Overview

Mission

To provide fire and rescue services within the department's service area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$830,434$1,444,319▲ $613,885
Savings and Temporary Cash Investments$193,137$194,789▲ $1,652
Total Assets$1,023,571$1,639,108▲ $615,537
Liabilities
Mortgage Notes Payable Secured by Investment Property$499,596$455,537▼ $44,059
Total Liabilities$499,596$455,537▼ $44,059
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$523,975$1,183,571▲ $659,596
Total Net Assets Fund Balance$523,975$1,183,571▲ $659,596
Total Liabilities and Net Assets / Fund Balance$1,023,571$1,639,108▲ $615,537

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$999,986$1,794,938$2,794,924
Buildings$444,333$630,853$1,075,186
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brian BooeChiefPT$16,997$16,997
John HawkinsTreasurerPT$6,000$6,000

Board Members and Trustees

NameTitle
Tommy FaggChairman
Greg TeagueVice Chairma
Brad CheekDirector
David WillardDirector
Randal PriceDirector
Steve CraigDirector
Tommy BallDirector
Kim LewisSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,154,098
Program Service Revenue
$0
Investment Income
$1,021
Other Revenue
$20,314
All Other Contributions
$700,400
Change in Net Assets
$659,596

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$700,000
Total Noncash Contributions1$700,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,175,433
Total Revenue per Audited Statements
$1,175,433
Total Revenue per Form 990
$1,175,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$380,332
Salaries, Compensation, and Employee Benefits$135,505
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$168,375--$168,375
Other Salaries and Wages$102,447--$102,447
All Other Expenses$35,491--$35,491
Insurance$32,980--$32,980
Current Officers, Directors, Trustees, and Key Employees$22,997--$22,997
Fees for Services Accounting-$17,635-$17,635
Occupancy$17,255--$17,255
Interest$16,639--$16,639
Payroll Taxes$10,061--$10,061
Other Expenses$8,355--$8,355
Office Expenses-$4,319-$4,319
Conferences and Meetings$4,222--$4,222
Total Functional Expenses$493,883$21,954$0$515,837

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,173,781
Expenses Not Reported on Form 990$826,319
Total Expenses per Form 990$515,837
Expenses per Audited Statements$347,462
Expenses Not Reported on Financial Statements$168,375
Other Expense Adjustments$168,375
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The treasurer of the board receives the tax return and reviews the return with the auditor before it is filed.”

Form 990, Page 6, Part VI, Line 12C

“Discussions are held at board meetings on a periodic basis.”

Form 990, Page 6, Part VI, Line 19

“The documents are readily available when asked to see at the fire department.”

Filing and Contact Details

Filer

Filer Name
Walnut Cove Volunteer Fire
EIN
58-1574224
Phone
3365914477
Address
PO BOX 532, WALNUT COVE, NC 27052

Signing Officer

Name
John Hawkins
Title
Treasurer
Phone
3364032714
Signed
2022-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommy Fagg
Formed
1956
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
16
Volunteers
39

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
William B Amburn
Phone
3367250635
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The department is entitled to exemption from federal and north carolina income taxation under internal revenue code section 501(c)(3) and is not a private foundation. Accordingly, the accompanying financial statements do not reflect a provision or liability for federal or state income taxes. The department has determined that it does not have any material unrecognized tax benefits or obligations as of june 30, 2021. The department's forms 990, return of organization exempt from income tax are subject to examination by the irs, generally for three years after they are filed.”

Schedule D, Page 4, Part XII, Line 2D

“Loan principal payments 44,058 purchase of property and equipment 782,261”

Schedule D, Page 4, Part XII, Line 4B

“DEPRECIATION 168,375”

Raw XML AppendixShowing 400 of 420 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0194789
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MOTOR FUEL TAX REFUND 965 SALES TAX REFUND 6,223 OTHER 1,772
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt044422
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IRS990ScheduleA/TotalSupportAmt02697033
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0444333
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0630853
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01075186
IRS990ScheduleD/EquipmentGrp/BookValueAmt0999986
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01794938
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02794924
IRS990ScheduleD/ExpensesNotReportedAmt0826319
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0168375
IRS990ScheduleD/ExpensesSubtotalAmt0347462
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IRS990ScheduleD/OtherExpensesIncludedAmt0826319
IRS990ScheduleD/OtherExpensesNotIncludedAmt0168375
IRS990ScheduleD/RevenueSubtotalAmt01175433
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE DEPARTMENT IS ENTITLED TO EXEMPTION FROM FEDERAL AND NORTH CAROLINA INCOME TAXATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL OR STATE INCOME TAXES. THE DEPARTMENT HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2021. THE DEPARTMENT'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOAN PRINCIPAL PAYMENTS 44,058 PURCHASE OF PROPERTY AND EQUIPMENT 782,261
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DEPRECIATION 168,375
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalExpensesPerForm990Amt0515837
IRS990ScheduleD/TotalRevenuePerForm990Amt01175433
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01175433
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01173781
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER OF THE BOARD RECEIVES THE TAX RETURN AND REVIEWS THE RETURN WITH THE AUDITOR BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DISCUSSIONS ARE HELD AT BOARD MEETINGS ON A PERIODIC BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DOCUMENTS ARE READILY AVAILABLE WHEN ASKED TO SEE AT THE FIRE DEPARTMENT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt01639108
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0493883
IRS990/TotalFunctionalExpensesGrp/TotalAmt0515837
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt0499596
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IRS990/UponRequestInd0X
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,639,108
Liabilities
$455,537
Net assets
$1,183,571
Revenue
$1,175,433
Expenses
$515,837
Net income
$659,596
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.18$0.26$0.92$0.87$0.79$0.08
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.31$0.84$0.60$0.71$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.36$0.95$0.57$0.66$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.45$0.41$1.04$0.51$0.66$0.15
2021Detailed filing. Detailed filing data is available for this year.$1.64$0.46$1.18$1.18$0.52$0.66
2020Detailed filing. Detailed filing data is available for this year.$1.02$0.50$0.52$0.41$0.50$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.57$0.62$0.42$0.49$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.26$0.58$0.68$0.37$0.44$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.38$0.62$0.75$0.37$0.48$0.10
2016Summary only. Only limited summary data is available for this year.$1.52$0.66$0.86$0.38$0.38$0.00
2015Summary only. Only limited summary data is available for this year.$1.13$0.28$0.86$0.36$0.36$0.00
2014Summary only. Only limited summary data is available for this year.$1.15$0.86$0.29$0.35$0.34$0.01
2013Summary only. Only limited summary data is available for this year.$1.28$0.43$0.85$0.30$0.33$0.03
2012Summary only. Only limited summary data is available for this year.$1.33$0.46$0.88$0.25$0.25$0.01
2011Summary only. Only limited summary data is available for this year.$1.01$0.14$0.87$0.25$0.21$0.04