GLOUCESTER FIRE DEPARTMENT CREDIT UNION (EIN 042305850) - Form 990 Financial Analysis & Trantor Score

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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

1938

Legal Domicile

Principal Officer

SUSAN DELLACROCE

Phone

9782819760

Tax Period

2021-01-01 to 2021-10-29

GLOUCESTER FIRE DEPARTMENT CREDIT UNION, founded in 1938, is a micro nonprofit that reported $24K in total revenue in fiscal year 2021. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $32K exceeded revenue, resulting in a 33% operating deficit.

Mission

CREDIT UNION

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $24,078

Investment Income $-401

Other Revenue $5

TOTAL REVENUE $23,682

Expense Breakdown

Grants Paid $0

Salaries & Benefits $18,300

Fundraising Expenses $0

Other Expenses $13,225

TOTAL EXPENSES $31,525

Year-over-Year Comparison

	2021	2020	Change
Revenue	$23,682	$32,693	-0.3%
Expenses	$31,525	$31,518	+0.0%
Net Income	$-7,843	$1,175	-7.7%

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

$16,600

Total Directors

$16,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN DELLACROCE	TREASURER	3.00	Officer Director	$16,600	$0	$16,600
JOSEPH AIELLO	BOARD MEMBER	3.00	Director	$0	$0	$0
THOMAS AIELLO	CLERK	3.00	Officer Director	$0	$0	$0
GLEN ASARO	BOARD MEMBER	3.00	Director	$0	$0	$0
RICHARD CUSICK	VICE CHAIRPERSON	3.00	Officer Director	$0	$0	$0
DEAN DECOSTE	PRESIDENT	3.00	Officer Director	$0	$0	$0
ALISON DEMEULE	BOARD MEMBER	3.00	Director	$0	$0	$0
WILLIAM DOUCETTE	BOARD MEMBER	3.00	Director	$0	$0	$0
KEVIN GARGAN	BOARD MEMBER	3.00	Director	$0	$0	$0
JAMES HANNON III	BOARD MEMBER	3.00	Director	$0	$0	$0
ANDREW LYONS	BOARD MEMBER	3.00	Director	$0	$0	$0
MICHAEL MITCHELL	BOARD MEMBER	3.00	Director	$0	$0	$0
ROBERT RIVAS	BOARD MEMBER	3.00	Director	$0	$0	$0
MICHAEL SHULMAN	BOARD MEMBER	3.00	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
2021	$23,682	$31,525	No data	$-7,843
2020	$32,693	$31,518	$654,697	$1,175
2019	$34,186	$30,130	$569,347	$4,056
2018	$29,102	$27,692	$526,031	$1,410

GLOUCESTER FIRE DEPARTMENT CREDIT UNION