Corolla Fire and Rescue Foundation

Nonprofit profile at a glance

EIN
462712480
IRS 990 coverage
2016–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Corolla, NC, USA
Phone
2524533242
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$213,776
Expenses
$140,486
Assets
$1,599,545
Liabilities
$815

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • ALFRED MARZETTI (PRESIDENT)

People named in this filing

  • ALFRED MARZETTI (PRESIDENT)
  • JIM SOUTHERN (SECRETARY)
  • ROBERT WEMYSS (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2025

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.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.6%; rating input score 64
  • Program expense ratio: 92.4%; rating input score 92
  • Fundraising efficiency: $27.11 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 34.3%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 11.39; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 63.6% of revenue deployed · 92.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $130K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes grants and related organizations
  • Filing history: 10 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.