FOREST HILLS VOLUNTEER FIRE COMPANY (EIN 251236766) - 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

1939

Principal Officer

RICHARD T COLELLA

Phone

7243277300

Tax Period

2023-01-01 to 2023-12-31

FOREST HILLS VOLUNTEER FIRE COMPANY, founded in 1939, is a small nonprofit in the Public Safety sector that reported $118K in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $152K exceeded revenue, resulting in a 29% operating deficit.

Mission

FOREST HILLS VOLUNTEER FIRE COMPANY PROVIDES FIRE AND EMERGENCY SERVICES TO THE 3,500 RESIDENTIAL AND COMMERCIAL UNITS IN THE BOROUGH OF FOREST HILLS. THE VFD ALSO PROVIDES SERVICES TO THE NEIGHBORING COMMUNITIES THROUGH MUTUAL AND AUTOMATIC AIDE.

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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 $40,387

Program Service Revenue $0

Investment Income $15,866

Other Revenue $61,734

TOTAL REVENUE $117,987

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $4,145

Program Expenses $131,627

Other Expenses $152,183

TOTAL EXPENSES $152,183

Year-over-Year Comparison

	2023	2022	Change
Revenue	$117,987	$219,155	-0.5%
Expenses	$152,183	$129,618	+0.2%
Net Income	$-34,196	$89,537	-1.4%

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

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
RICHARD T COLELLA	PRESIDENT	5.00	Officer	$0	$0	$0
ROBERT F HENKEL II	VICE PRESIDE	5.00	Officer	$0	$0	$0
JASON PETRI	TREASURER	5.00	Officer	$0	$0	$0
ANTHONY RICKARD	SECRETARY	5.00	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	$117,987	$152,183	$1,340,963	$-34,196
2022	$219,155	$129,618	$1,381,971	$89,537
2021	$296,472	$259,464	$697,132	$37,008
2020	$160,659	$46,078	$660,126	$114,581

FOREST HILLS VOLUNTEER FIRE COMPANY