Firemen's Association of the State of New York Foundation Inc

EIN: 141835837 501(c)(3) Education

Albany, NY

Total Revenue
$16,022,355
Total Expenses
$6,796,383
Total Assets
$161,027,158
Net Assets
$160,996,824
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
NY
Phone
5184340987
Tax Period
2023-10-01 to 2024-09-30

Firemen's Association of the State of New York Foundation Inc, founded in 2003, is a mid-sized nonprofit in the Education sector that reported $16.0M in total revenue in fiscal year 2023. Revenue surged 207% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.2M, a strong 58% operating margin.

Mission

The Foundation was formed to operate exclusively for the charitable and educational purposes of promoting fire prevention, education and training, and support of the

Program Service Accomplishments

Program 1
Expenses: $6,500,000 Revenue: $0

Grants are used towards educational purposes of promoting fire prevention, education and training, providing scholarships, and supporting the indispensable charitable activities of the volunteer fire...

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Grants are used towards educational purposes of promoting fire prevention, education and training, providing scholarships, and supporting the indispensable charitable activities of the volunteer fire service throughout New York State. During the Current year the Foundation gave grants of $6,200,000 to the Firemens Association of the State of New York. A substantial portion of the grant to FASNY was used to support the operations of the FASNY Firemens Home which provides a retirement and skilled nursing care facility to eligible former members of the NYS volunteer firefighting community. Additional grants were given to the FASNY Museum of Firefighting totalling $300,000 to support educational programming regarding the history of volunteer firefighting in the State of New York.

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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 $0
Program Service Revenue $0
Investment Income $16,022,355
Other Revenue $0
TOTAL REVENUE $16,022,355

Expense Breakdown

Grants Paid $6,500,000
Salaries & Benefits $10,000
Fundraising Expenses $0
Program Expenses $6,500,000
Other Expenses $286,383
TOTAL EXPENSES $6,796,383

Year-over-Year Comparison

2023 2022 Change
Revenue $16,022,355 $5,213,776 +2.1%
Expenses $6,796,383 $6,753,697 +0.0%
Net Income $9,225,972 $-1,539,921 -7.0%
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

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Governance

Voting Members
12
Independent Members
12
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
4
$10,000
Total Directors
12
$10,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John Farrell Jr President 8.00
Officer Director
$0 $0 $0
David Schmidt Vice President 4.00
Officer Director
$0 $0 $0
Diana Pfersick Secretary 4.00
Officer Director
$5,000 $0 $5,000
Andrew Pilecki Treasurer 4.00
Officer Director
$5,000 $0 $5,000
Roy Dahlen Director 2.00
Director
$0 $0 $0
Brian McQueen Director 2.00
Director
$0 $0 $0
Anthony DeMarco Director 2.00
Director
$0 $0 $0
Michael Caron Director 2.00
Director
$0 $0 $0
Edward Tase Jr Director 2.00
Director
$0 $0 $0
Douglas VanEtten Director 2.00
Director
$0 $0 $0
Michael Krummenacker Director 2.00
Director
$0 $0 $0
Kenneth Holmes Director 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 $16,022,355 $6,796,383 $161,027,158 $9,225,972
2023 $5,213,776 $6,753,697 $137,997,979 $-1,539,921
2022 $5,985,505 $7,069,508 $129,567,316 $-1,084,003
2021 $10,617,589 $7,463,566 $161,398,482 $3,154,023
2020 $5,358,437 $4,620,658 $140,927,785 $737,779
2019 $7,174,701 $9,093,112 $139,617,249 $-1,918,411
2018 $9,669,455 $6,029,129 $144,199,926 $3,640,326
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