THE VOLUNTEER FIRE DEPARTMENT OF PROSPECT INC

EIN: 061271460 501(c)(3)

PROSPECT, CT

Total Revenue
$510,877
Total Expenses
$532,204
Total Assets
$719,201
Net Assets
$705,778
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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
1945
Legal Domicile
CT
Principal Officer
MIKE GUASTAFERRI
Phone
2037743492
Tax Period
2023-07-01 to 2024-06-30

THE VOLUNTEER FIRE DEPARTMENT OF PROSPECT INC, founded in 1945, is a small nonprofit that reported $511K in total revenue in fiscal year 2023.

Mission

PROVIDE FIRE AND EMERGENCY SERVICES, INCLUDING 911 COVERAGE, FOR THE TOWN OF PROSPECT, CT.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $527,053
Program Service Revenue $0
Investment Income $7,469
Other Revenue $-23,645
TOTAL REVENUE $510,877

Expense Breakdown

Grants Paid $0
Salaries & Benefits $54,596
Fundraising Expenses $0
Program Expenses $456,562
Other Expenses $477,608
TOTAL EXPENSES $532,204

Year-over-Year Comparison

2023 2022 Change
Revenue $510,877 $528,440 0.0%
Expenses $532,204 $603,716 -0.1%
Net Income $-21,327 $-75,276 -0.7%
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

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Governance

Voting Members
N/A
Independent Members
N/A
Employees
1
Volunteers
70

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
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE GUASTAFERRI FIRE CHIEF N/A
Officer
$0 $0 $0
MICHAEL MAGGIORE SECRETARY N/A
Officer
$0 $0 $0
DYLAN SLOSS ASSISTANT CH N/A
Officer
$0 $0 $0
KYLE TOURNAS TREASURER N/A
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
2025 No data No data No data No data
2024 $510,877 $532,204 $719,201 $-21,327
2023 $528,440 $603,716 $686,789 $-75,276
2022 $502,856 $460,288 $767,174 $42,568
2021 $495,473 $558,066 $744,766 $-62,593
2020 $471,672 $475,942 $808,113 $-4,270
2019 $502,564 $410,252 $814,914 $92,312
2018 $477,639 $458,059 $727,959 $19,580
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