VOLUNTEER FIRE CO NO 1 OF SOMERS P… - 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

1908

Legal Domicile

Principal Officer

DONALD DUNLEAVY

Phone

6096536506

Tax Period

2024-01-01 to 2024-12-31

VOLUNTEER FIRE CO NO 1 OF SOMERS POINT N J, founded in 1908, is a small nonprofit that reported $146K in total revenue in fiscal year 2024. The organization ran a surplus of $43K, a strong 29% operating margin.

Mission

FIRE PROTECTION

Program Service Accomplishments

Program 1

Expenses: $71,996

ALL INCOME PRODUCING ACTIVITY IS UNDERTAKEN TO PROVIDE FUNDS FORBUILDING MAINTENANCE AND TO PROVIDE FOR THE PURCHASE ANDMAINTENANCE OF THE FIRE TRUCKS AND EQUIPMENT

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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 (2024)

Revenue Breakdown

Contributions & Grants $55,297

Program Service Revenue $0

Investment Income $11,173

Other Revenue $79,764

TOTAL REVENUE $146,234

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $71,996

Other Expenses $103,183

TOTAL EXPENSES $103,183

Year-over-Year Comparison

	2024	2023	Change
Revenue	$146,234	$139,923	+0.0%
Expenses	$103,183	$81,230	+0.3%
Net Income	$43,051	$58,693	-0.3%

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

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
MICHAEL IANNACE	President	10.00	Director	$0	$0	$0
FRED COTTRELL	Vice President	10.00	Director	$0	$0	$0
HEATHER OSTERMAN	Secretary	10.00	Director	$0	$0	$0
DONALD DUNLEAVY	Treasurer	10.00	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	$146,234	$103,183	$919,155	$43,051
2023	$139,923	$81,230	$896,021	$58,693
2022	$153,253	$102,053	$642,326	$51,200
2021	$98,661	$68,514	$603,394	$30,147
2020	$64,990	$108,660	$593,247	$-43,670
2019	$98,546	$83,358	$646,001	$15,188
2018	$69,740	$70,547	$589,329	$-807

VOLUNTEER FIRE CO NO 1 OF SOMERS POINT N J