LAKE PARSIPPANY VOLUNTEER FIRE DEPT INC (EIN 222173343) - Form 990 Financial Analysis & Trantor Score

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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

1935

Legal Domicile

Phone

9738879483

Tax Period

2023-01-01 to 2023-12-31

LAKE PARSIPPANY VOLUNTEER FIRE DEPT INC, founded in 1935, is a micro nonprofit that reported $6K in total revenue in fiscal year 2023. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $84K exceeded revenue, resulting in a 1323% operating deficit.

Mission

PUBLIC EMERGENCY PROTECTION. ORGANIZATION IS A VOLUNTEER FIRE DEPARTMENT ORGANIZED FOR FIRES & EMERGENCY PROTECTION.

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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 $12,204

Program Service Revenue $0

Investment Income $-6,312

Other Revenue $0

TOTAL REVENUE $5,892

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $81,489

Other Expenses $83,819

TOTAL EXPENSES $83,819

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,892	$26,047	-0.8%
Expenses	$83,819	$57,737	+0.5%
Net Income	$-77,927	$-31,690	+1.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE LIMA	President	3.00	Officer	$0	$0	$0
RUSS PROKOP	Vice President	3.00	Officer	$0	$0	$0
ZUBIN MISTRY	Secretary	3.00	Officer	$0	$0	$0
THOMAS SEXTON	Treasurer	3.00	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
2024	No data	No data	No data	No data
2023	$5,892	$83,819	$779,607	$-77,927
2022	$26,047	$57,737	$756,249	$-31,690
2021	$73,343	$40,335	$932,858	$33,008
2020	$17,547	$39,512	$908,968	$-21,965
2019	$56,652	$44,303	$874,086	$12,349
2018	$50,352	$37,559	$799,748	$12,793

LAKE PARSIPPANY VOLUNTEER FIRE DEPT INC