Davis Corner Rescue Squad Foundation

EIN: 542054848 501(c)(3) Public Safety

Virginia Beach, VA

Total Revenue
$17,557
Total Expenses
$5,994
Total Assets
$308,715
Net Assets
$308,715
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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
VA
Principal Officer
Kay Laws
Phone
7574394457
Tax Period
2024-01-01 to 2024-12-31

Davis Corner Rescue Squad Foundation, founded in 2002, is a micro nonprofit in the Public Safety sector that reported $17K in total revenue in fiscal year 2019. The organization ran a surplus of $5K, a strong 30% operating margin.

Mission

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.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $17,557
Other Revenue $0
TOTAL REVENUE $17,557

Expense Breakdown

Grants Paid $500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $500
Other Expenses $5,494
TOTAL EXPENSES $5,994

Year-over-Year Comparison

2024 2023 Change
Revenue $17,557 $7,582 +1.3%
Expenses $5,994 $5,337 +0.1%
Net Income $11,563 $2,245 +4.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
N/A
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Sharon Brown Director 0.00
Director
$0 $0 $0
Ira Swartz Director 0.00
Director
$0 $0 $0
Eric Hoyt Director 0.00
Director
$0 $0 $0
Mike Mullins Director 0.00
Director
$0 $0 $0
Armand Rubbo Director 0.00
Director
$0 $0 $0
Kay Laws President 0.00
Officer
$0 $0 $0
Daniel Norville Vice President 0.00
Officer
$0 $0 $0
Judi Baker Treasurer 0.00
Officer
$0 $0 $0
Carol Norville Secretary 0.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $17,557 $5,994 $308,715 $11,563
2023 $7,582 $5,337 $297,152 $2,245
2022 $6,809 $89,677 $294,907 $-82,868
2021 $41,375 $1,596 $377,775 $39,779
2020 $12,298 $1,553 $337,996 $10,745
2019 $17,068 $11,912 $327,251 $5,156
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