NORCO FIRE COMPANY

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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

1951

Legal Domicile

Principal Officer

TRACEY SHANER

Phone

6103233263

Tax Period

2024-01-01 to 2024-12-31

NORCO FIRE COMPANY, founded in 1951, is a small nonprofit in the Public Safety sector that reported $289K in total revenue in fiscal year 2024. Revenue fell 42% from the prior year — a significant decline worth monitoring. Expenses of $468K exceeded revenue, resulting in a 62% operating deficit.

Mission

PRESERVATION OF LIFE AND PROPERTY THROUGH PUBLIC SAFETY

Program Service Accomplishments

Program 1

Expenses: $447,128

TO PROVIDE PUBLIC SAFETY TO THE COMMUNITY THROUGH FIRE DEPARTMENT OPERATIONS AND SERVICE. THE OBJECT OF WHICH IS THE PRESERVATION OF LIFE AND PROPERTY IN NORTH COVENTRY TOWNSHIP AND SURROUNDING...

TO PROVIDE PUBLIC SAFETY TO THE COMMUNITY THROUGH FIRE DEPARTMENT OPERATIONS AND SERVICE. THE OBJECT OF WHICH IS THE PRESERVATION OF LIFE AND PROPERTY IN NORTH COVENTRY TOWNSHIP AND SURROUNDING VICINITY.

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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 $159,441

Program Service Revenue $0

Investment Income $537

Other Revenue $128,816

TOTAL REVENUE $288,794

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $5,195

Program Expenses $447,128

Other Expenses $468,253

TOTAL EXPENSES $468,253

Year-over-Year Comparison

	2024	2023	Change
Revenue	$288,794	$495,870	-0.4%
Expenses	$468,253	$407,658	+0.1%
Net Income	$-179,459	$88,212	-3.0%

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

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
RANDY WHALEN	PRESDIENT	10.00	Officer Director	$0	$0	$0
CHARLES HIPPLE JR	CHAIRMAN	5.00	Officer Director	$0	$0	$0
CHARLES SCHUKRAFT II	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
KATHLEEN SCULLY	RECORDING SECRETARY	5.00	Officer Director	$0	$0	$0
SHERYL DAMI	FINANCIAL SECRETARY	5.00	Officer Director	$0	$0	$0
TRACEY SHANER	TREASURER	5.00	Officer Director	$0	$0	$0
RUTH SCHUKRAFT	ASSISTANT TREASURER	5.00	Officer Director	$0	$0	$0
JOEL MCMILLAN	FIRE CHIEF	5.00	Officer Director	$0	$0	$0
JAMES MEADE	DEPUTY CHIEF	5.00	Director	$0	$0	$0
CHUCK SCHUKRAFT JR	DIRECTOR	5.00	Director	$0	$0	$0
MELISSA SABO	DIRECTOR	5.00	Director	$0	$0	$0
ALYSSA SCHUKRAFT	DIRECTOR	5.00	Director	$0	$0	$0
DONE HINE	DIRECTOR	5.00	Director	$0	$0	$0
ANDREW WOROBETZ	DIRECTOR	5.00	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	$288,794	$468,253	$3,297,066	$-179,459
2023	$495,870	$407,658	$3,419,030	$88,212
2022	$281,182	$359,351	$3,280,548	$-78,169
2021	$258,461	$344,378	$3,649,658	$-85,917
2020	$169,588	$313,834	$3,495,871	$-144,246
2019	$122,880	$350,366	$3,627,111	$-227,486
2018	$308,016	$331,936	$3,756,316	$-23,920