FRIENDS OF ISLIP TOWN FIREFIGHTERS… - Form 990 Financial Data

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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

1997

Legal Domicile

Principal Officer

MARK SCHMITTZEH

Phone

6315391122

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF ISLIP TOWN FIREFIGHTERS INC, founded in 1997, is a small nonprofit that reported $209K in total revenue in fiscal year 2023. Revenue surged 201% from the prior year, signaling strong growth momentum. Expenses of $981K exceeded revenue, resulting in a 370% operating deficit.

Mission

TO ASSIST FAMILIES OF VOLUNTEER FIREFIGHTERS IN THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $978,631 Revenue: $0

TO CREATE A MUSEUM AND EDUCATION CENTER TO SHOWCASE THE ISLIP TOWN FIRE DEPARTMENTS' HERITAGE AND DISPLAY ITS MEMORABILIA, HISTORICAL ARTIFACTS, ANTIQUE APPARATUS, AND OTHER FIRE DEPARTMENT ITEMS OF...

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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 (2023)

Revenue Breakdown

Contributions & Grants $425

Program Service Revenue $0

Investment Income $208,998

Other Revenue $-792

TOTAL REVENUE $208,631

Expense Breakdown

Grants Paid $955,863

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $978,631

Other Expenses $25,231

TOTAL EXPENSES $981,094

Year-over-Year Comparison

	2023	2022	Change
Revenue	$208,631	$69,224	+2.0%
Expenses	$981,094	$87,589	+10.2%
Net Income	$-772,463	$-18,365	+41.1%

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
N/A	TRUSTEE	5.00		$0	$0	$0
N/A	SECOND VICE PRESIDENT	5.00		$0	$0	$0
N/A	TRUSTEE	5.00		$0	$0	$0
EDWARD TULLY JR	PRESIDENT	5.00	Officer	$0	$0	$0
NEIL FINNIN	VICE PRESIDENT	5.00	Officer	$0	$0	$0
WILLIAM C JOHNSON	TREASURER	5.00	Officer	$0	$0	$0
IREEN BOKIN	SECRETARY	5.00	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
2023	$208,631	$981,094	No data	$-772,463
2022	$69,224	$87,589	$772,463	$-18,365
2021	$33,458	$53,982	$798,410	$-20,524
2020	$44,601	$55,818	$811,353	$-11,217
2019	$64,826	$73,257	$822,570	$-8,431
2018	$57,471	$65,918	$831,001	$-8,447

FRIENDS OF ISLIP TOWN FIREFIGHTERS INC