Cornwells Fire Company-1
- Assets
- $2.9m
- Revenue
- $630.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bensalem, PA
- Founding
- 12/2014
- Data as of
- 12/2021
- EIN
- 23-6299504
Organization Overview
Cornwells Fire Company-1 is located in Bensalem, PA. The organization was established in 2014. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornwells Fire Company-1 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cornwells Fire Company-1 generated $630.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $491.1k during the year ending 12/2021. While expenses have increased by 7.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
VOLUNTEER FIREFIGHTING
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTEER ORGANIZATION OF FIREMEN PROVIDING FIRE PROTECTIONAND RESCUE SERVICES TO BENSALEM TOWNSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Rhoads President | Officer | 10 | $0 |
Bill Boswell Vice-President | Officer | 10 | $0 |
Biagio Trama Treasurer | Officer | 10 | $0 |
Frederick Resh Secretary | Officer | 10 | $0 |
Bill James Trustee | Trustee | 8 | $0 |
Jim Bolinski Sr Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $411,754 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,870 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $423,624 |
| Total Program Service Revenue | $0 |
| Investment income | $3,311 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,128 |
| Net Gain/Loss on Asset Sales | $196,055 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $630,686 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,775 |
| Fees for services: Accounting | $5,255 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $6,300 |
| Fees for services: Investment Management | $1,103 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,879 |
| Information technology | $1,256 |
| Royalties | $0 |
| Occupancy | $69,531 |
| Travel | $7,955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,630 |
| Interest | $44,337 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,139 |
| Insurance | $15,464 |
| All other expenses | $19,979 |
| Total functional expenses | $491,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,079 |
| Savings and temporary cash investments | $199,666 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,413,810 |
| Investments—publicly traded securities | $178,846 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,870,401 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,182,274 |
| Total liabilities | $1,182,274 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,688,127 |
| Total liabilities and net assets/fund balances | $2,870,401 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornwells Fire Company-1 has recieved totaling $80.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $80 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carroll County Volunteer Emergency Service Association Inc Westminster, MD | $1,470,779 | $13,949,806 |
151 Firefighters Community Credit Union Inc Cleveland, OH | $312,911,216 | $13,147,195 |
Toledo Fire Fighters Local 92 Health & Welfare Plan Toledo, OH | $8,389,913 | $8,995,774 |
Lebanon Fire Department First Aid And Safety Patrol Lebanon, PA | $3,051,934 | $7,011,761 |
Loveland-Symmes Fire Department Inc Loveland, OH | $996,779 | $6,556,437 |
National Fire Sprinkler Industry Promotion Fund Linthicum Heights, MD | $14,612,494 | $9,027,679 |
National Fire Sprinkler Association Inc Linthicum Heights, MD | $8,710,871 | $6,765,849 |
Christiana Fire Company Christiana, DE | $14,091,551 | $5,152,567 |
National Fallen Firefighters Foundation Emmitsburg, MD | $13,063,869 | $5,837,501 |
Seiu District 1201 Health & Welfare Fund Local 1201 Health & Welfare Fund Philadelphia, PA | $0 | $4,907,634 |
East Farmingdale Volunteer Fire Co Inc East Farmingdale, NY | $16,218,094 | $4,768,607 |
Plainview Volunteer Fire Dept Inc Plainview, NY | $40,057,209 | $5,342,646 |