Davis Corner Rescue Squad Foundation
- Assets
- $294.9k
- Revenue
- $6.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 07/2002
- Data as of
- 12/2022
- EIN
- 54-2054848
Organization Overview
Davis Corner Rescue Squad Foundation is located in Virginia Beach, VA. The organization was established in 2002. According to its NTEE Classification (M11) the organization is classified as: Single Organization Support, 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. Davis Corner Rescue Squad Foundation 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 12/2022, Davis Corner Rescue Squad Foundation generated $6.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.6%) each year. All expenses for the organization totaled $89.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS ORGANIZED TO RECEIVE, MAINTAIN, AND ADMINISTER ASSETS AND CONTRIBUTIONS EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES, AS SET FORTH IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS MAY BE AMENDED AND TO USE AND APPLY INCOME AND PRINCIPAL THEREFROM FOR BROAD CHARITABLE PURPOSES EITHER DIRECTLY OR BY CONTRIBUTIONS TO OTHER ORGANIZATIONS, WITH THE PRIMARY USE AND APPLICATION TO BE TO RAISE MONEY TO SUPPORT THE DAVIS CORNER RESCUE SQUAD IN VIRGINIA BEACH, VIRGINIA, TO HOLD ASSETS FOR THE USE OF THE DAVIS CORNER RESCUE SQUAD, AND THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YEARLY GRANT TO DAVIS CORNER VFD & RESCUE SQUAD FOR OPERATING COSTS
RECOGNITION OF MEMBERS OF THE DAVIS CORNER VFD & RESCUE SQUAD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Brown Director | Trustee | 0 | $0 |
Ira Swartz Director | Trustee | 0 | $0 |
Eric Hoyt Director | Trustee | 0 | $0 |
Mike Mullins Director | Trustee | 0 | $0 |
Armand Rubbo Director | Trustee | 0 | $0 |
Kay Laws President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $210 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $210 |
| Total Program Service Revenue | $0 |
| Investment income | $6,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$97 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,809 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $88,265 |
| 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 | $556 |
| Fees for services: Accounting | $595 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $261 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $89,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $823 |
| Savings and temporary cash investments | $4,171 |
| 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 | $0 |
| Investments—publicly traded securities | $289,913 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $294,907 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $294,907 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $294,907 |