ADAMS FIRE COMPANY INC

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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

1924

Legal Domicile

Principal Officer

JAMES MIHALKO

Phone

7166923212

Tax Period

2023-01-01 to 2023-12-31

ADAMS FIRE COMPANY INC, founded in 1924, is a small nonprofit that reported $353K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $302K left a modest 14% surplus.

Mission

PROVIDE FIRE PROTECTION AND EMERGENCY MEDICAL SERVICES FOR THEIR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $253,356

TO PROVIDE FIRE PROTECTION AND EMERGENCY MEDICAL SERVICES TO THE RESIDENTS OF THE TOWN OF WHEATFIELD, NY.

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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 $51,135

Program Service Revenue $282,689

Investment Income $4,735

Other Revenue $14,328

TOTAL REVENUE $352,887

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $15,132

Program Expenses $253,356

Other Expenses $301,822

TOTAL EXPENSES $301,822

Year-over-Year Comparison

	2023	2022	Change
Revenue	$352,887	$317,394	+0.1%
Expenses	$301,822	$339,864	-0.1%
Net Income	$51,065	$-22,470	-3.3%

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

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
JAMES MIHALKO	President	12.00	Officer Director	$0	$0	$0
AMY ZASTROW	Vice President	12.00	Officer Director	$0	$0	$0
PETER CHASE	Treasurer	12.00	Officer Director	$0	$0	$0
STEVE SHANOR	Secretary	12.00	Officer Director	$0	$0	$0
LARRY HENNENBERGER	Financial Sec'y	12.00	Director	$0	$0	$0
DONALD LAUER	Fire Chief	12.00	Director	$0	$0	$0
KEVIN HODGSON	1st Asst. Chief	12.00	Director	$0	$0	$0
ROBERT PINO	2nd Asst. Chief	4.00	Director	$0	$0	$0
GILBERT ALLEN	Trustee	4.00	Director	$0	$0	$0
JOHN DOMARADZKI	Trustee	4.00	Director	$0	$0	$0
RUSSELL LEADERSTORF	Trustee	4.00	Director	$0	$0	$0
SCOTT LEADERSTORF	Trustee	4.00	Director	$0	$0	$0
BILL NALBONE	Trustee	4.00	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	No data	No data	No data	No data
2023	$352,887	$301,822	$1,397,237	$51,065
2022	$317,394	$339,864	$1,416,614	$-22,470
2021	$333,761	$300,120	$1,506,680	$33,641
2020	$342,489	$294,969	$1,537,907	$47,520
2019	$472,351	$318,786	$1,565,246	$153,565
2018	$317,449	$309,102	$1,483,420	$8,347