ITHACA VETERAN VOLUNTEER FIREMENS … - 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

1919

Legal Domicile

Principal Officer

MARK SPALDOLINI

Phone

6072722560

Tax Period

2020-01-01 to 2020-12-31

ITHACA VETERAN VOLUNTEER FIREMENS ASSOC, founded in 1919, is a small nonprofit that reported $255K in total revenue in fiscal year 2020. Revenue surged 1403% from the prior year, signaling strong growth momentum. The organization ran a surplus of $242K, a strong 95% operating margin.

Mission

TO MAINTAIN & PERPETUATE THE TRADITIONS AND SOCIAL RELATIONS CHERISHED BY ALL MEMBERS OF THE ITHACA FIRE DEPT. AND TO COLLECT AND PRESERVE ALL RELICS AND ARTICLES OF HISTORICAL VALUE TO THE FIREFIGHTERS OF THE CITY AND TOWN OF ITHACA

Program Service Accomplishments

Program 1

Revenue: $357,489

THE ITHACA VETERAN VOLUNTEER FIREMANS ASSOCIATION SOLD THEIR BUILDING BECAUSE THEY COULD NOT AFFORD THE UPKEEP AND TAXES AS THEY LOST THEIR PROGRAM REVENUE

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $249,123

Other Revenue $5,762

TOTAL REVENUE $254,885

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,800

Fundraising Expenses $0

Other Expenses $10,697

TOTAL EXPENSES $12,497

Year-over-Year Comparison

	2020	2019	Change
Revenue	$254,885	$16,958	+14.0%
Expenses	$12,497	$21,606	-0.4%
Net Income	$242,388	$-4,648	-53.1%

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

N/A

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
JOHN BAKER	PRESIDENT	5.00	Officer	$0	$0	$0
JIMMY RUSSELL	VICE PRESIDENT	5.00	Officer	$0	$0	$0
MARK SPALDONI	TREASURER	5.00	Officer	$0	$0	$0
RAYMOND WHEATON	SECRETARY	5.00	Officer	$0	$0	$0
LYMAN BAKER	2 YEAR TRUSTEE	5.00	Director	$0	$0	$0
JOSH GRANT	1 YEAR TRUSTEE	5.00	Director	$0	$0	$0
WILLIAM BAKER	TRUSTEE 3 YEAR	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
2020	$254,885	$12,497	$455,161	$242,388
2019	$16,958	$21,606	$219,099	$-4,648
2018	$25,324	$15,567	$235,234	$9,757

ITHACA VETERAN VOLUNTEER FIREMENS ASSOC