NORWOOD FIRE COMPANY #1 (EIN 236297394) - 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

1905

Legal Domicile

Principal Officer

WILLIAM R BIERMAN

Phone

6104611111

Tax Period

2024-01-01 to 2024-12-31

NORWOOD FIRE COMPANY #1, founded in 1905, is a community nonprofit in the Public Safety sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 205% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.5M, a strong 67% operating margin.

Mission

The mission is to provide fire and ambulance services for the town of Norwood. The fire company services a residential area of approximately one square mile consisting of about 2,000 homes with a population exceeding 10,000 people. The ambulance service is for the town of Norwood and also six other surrounding communities.

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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 $1,520,951

Program Service Revenue $704,252

Investment Income $20,378

Other Revenue $47,762

TOTAL REVENUE $2,293,343

Expense Breakdown

Grants Paid $0

Salaries & Benefits $512,345

Fundraising Expenses $8,557

Program Expenses $747,411

Other Expenses $248,312

TOTAL EXPENSES $760,657

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,293,343	$753,149	+2.0%
Expenses	$760,657	$583,650	+0.3%
Net Income	$1,532,686	$169,499	+8.0%

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

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

$30,606

Total Directors

$30,606

Key Employees

$55,829

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HELENE M BIERMAN	BILLING COLLECTION	035.00	Key Emp	$55,829	$0	$55,829
DAVE BRADLEY	FINANCIAL SECRETARY	015.00	Officer Director	$20,206	$0	$20,206
CHRISTOPHER STEPHANO	TREASURER	035.00	Officer Director	$10,400	$0	$10,400
WILLIAM R BIERMAN	PRES	015.00	Officer Director	$0	$0	$0
DOUGLAS FAGAN	VICE PRES	015.00	Officer Director	$0	$0	$0
BRIAN O'DOHERTY	RECORDING SECRETARY	020.00	Officer 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	$2,293,343	$760,657	$2,961,243	$1,532,686
2023	$753,149	$583,650	$1,423,539	$169,499
2022	$624,304	$510,722	$1,248,375	$113,582
2021	$582,589	$543,448	$1,143,515	$39,141
2020	$587,574	$505,858	$1,099,001	$81,716

NORWOOD FIRE COMPANY #1