Friends of Firefighters Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2022

Legal Domicile

Principal Officer

Nancy Carbone

Phone

7186430980

Tax Period

2024-01-01 to 2024-12-31

Friends of Firefighters Inc, founded in 2022, is a community nonprofit in the Public Safety sector that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 132% from the prior year, signaling strong growth momentum. Expenses of $1.4M left a modest 8% surplus.

Mission

The organization's mission is to provide long-term support and services through confidential counseling, wellness services, and other assistance required by FDNY firefighters (active and retired) and their families.

Program Service Accomplishments

Program 1

Expenses: $977,195

The organization's programs to support FDNY firefighters (active and retired) and their families include: individual, marriage,and family counseling, a crisis hotline, an internet counseling program, peer support programs, yoga, acupuncture, training with biofeedback, financial and budget guidance, disaster relief, and referral services.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,203,563

Program Service Revenue $99,841

Investment Income $5

Other Revenue $179,958

TOTAL REVENUE $1,483,367

Expense Breakdown

Grants Paid $0

Salaries & Benefits $786,865

Fundraising Expenses $121,182

Program Expenses $977,195

Other Expenses $579,689

TOTAL EXPENSES $1,366,554

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,483,367	$638,074	+1.3%
Expenses	$1,366,554	$1,024,488	+0.3%
Net Income	$116,813	$-386,414	-1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$94,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Nancy Carbone	Executive Dir.	40.00	Officer	$94,500	$0	$94,500
Daniel Nigro	Chairperson	1.00	Officer Director	$0	$0	$0
Andrea Mandell	Vice Chair	1.00	Officer Director	$0	$0	$0
Daniel Prince	Treasurer	1.00	Officer Director	$0	$0	$0
Mark Tower	Secretary	1.00	Officer Director	$0	$0	$0
Damian Echevarrieta	Director	1.00	Director	$0	$0	$0
Joshua Calacanis	Director	1.00	Director	$0	$0	$0
Arturo Grant	Director	1.00	Director	$0	$0	$0
Larry Amsel	Director	1.00	Director	$0	$0	$0
Michael Barasch	Director	1.00	Director	$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	$1,483,367	$1,366,554	$367,279	$116,813
2024	$1,483,367	$1,366,554	$367,279	$116,813
2024	No data	No data	No data	No data
2023	$638,074	$1,024,488	$308,036	$-386,414
2023	$638,074	$1,024,488	$308,036	$-386,414
2022	$486,209	$831,797	$764,104	$-345,588
2021	$1,043,271	$689,741	$802,033	$353,530
2021	$1,206,133	$702,764	$802,033	$503,369
2020	$672,222	$642,941	$373,103	$29,281
2019	$743,078	$627,607	$272,722	$115,471
2018	$136,455	$586,319	$184,000	$-449,864