SMITHFIELD FIREFIGHTERS ASSOCIATION LOCAL 2050 IAFF (EIN 050473323) - 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

1978

Legal Domicile

Principal Officer

STEVEN CARBERRY

Phone

4017414177

Tax Period

2024-01-01 to 2024-12-31

SMITHFIELD FIREFIGHTERS ASSOCIATION LOCAL 2050 IAFF, founded in 1978, is a small nonprofit in the Employment sector that reported $222K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $209K left a modest 6% surplus.

Mission

PROMOTE BENEFITS, WORKING CONDITIONS AND BENEFITS TO ITS MEMBERS AND RETIREES

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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 $134,426

Program Service Revenue $84,433

Investment Income $3,973

Other Revenue $-768

TOTAL REVENUE $222,064

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $167,294

TOTAL EXPENSES $209,293

Year-over-Year Comparison

	2024	2023	Change
Revenue	$222,064	$188,545	+0.2%
Expenses	$209,293	$125,198	+0.7%
Net Income	$12,771	$63,347	-0.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW PEARSON	PRESIDENT	10.00	Director	$0	$0	$0
CHRIS KEENE	VICE PRESIDENT	6.00	Director	$0	$0	$0
TROY RUGGERIO	SECRETARY	5.00	Director	$0	$0	$0
STEVE CARBERRY	TREASURER	10.00	Director	$0	$0	$0
JOE DOUGHRETY	BOARD MEMBER	2.00	Director	$0	$0	$0
JACK CUZZONE	BOARD MEMBER	2.00	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	$222,064	$209,293	$582,043	$12,771
2023	$188,545	$125,198	$577,340	$63,347
2022	$148,228	$149,635	$522,654	$-1,407
2021	$162,617	$114,536	$533,446	$48,081

SMITHFIELD FIREFIGHTERS ASSOCIATION LOCAL 2050 IAFF