Irving Fire Foundation Inc

EIN: 205038018 501(c)(3) Education

Denton, TX

Total Revenue
$81,492
Total Expenses
$59,322
Total Assets
$815,795
Net Assets
$815,795
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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
2006
Legal Domicile
TX
Principal Officer
Matthew McGowan
Tax Period
2023-01-01 to 2023-12-31

Irving Fire Foundation Inc, founded in 2006, is a micro nonprofit in the Education sector that reported $81K in total revenue in fiscal year 2023. Revenue surged 303% from the prior year, signaling strong growth momentum. The organization ran a surplus of $22K, a strong 27% operating margin.

Mission

Provide college scholarships for children of Irving Fire Department personnel

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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 $31,950
Program Service Revenue $0
Investment Income $49,542
Other Revenue $0
TOTAL REVENUE $81,492

Expense Breakdown

Grants Paid $46,650
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $56,033
Other Expenses $12,672
TOTAL EXPENSES $59,322

Year-over-Year Comparison

2023 2022 Change
Revenue $81,492 $20,239 +3.0%
Expenses $59,322 $45,489 +0.3%
Net Income $22,170 $-25,250 -1.9%
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
5
Independent Members
5
Employees
N/A
Volunteers
5

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
1
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Matthew McGowan President 0.00
Officer Director
$0 $0 $0
Michael Agonis Secretary 0.00
Director
$0 $0 $0
David Hainley Vice President 0.00
Director
$0 $0 $0
William Hogan Treasurer 0.00
Director
$0 $0 $0
Brad Looney Secretary 0.00
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
2023 $81,492 $59,322 $815,795 $22,170
2018 $51,050 $26,429 $712,963 $24,621
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