HARMONY, PA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HARMONY FIRE DISTRICT RELIEF ASSOC, founded in 1945, is a micro nonprofit in the Public Safety sector that reported $69K in total revenue in fiscal year 2018. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $98K exceeded revenue, resulting in a 42% operating deficit.
VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATIONS ARE SEPARATE LEGAL ORGANIZATIONS AFFILIATED WITH VOLUNTEER FIRE COMPANIES AND/OR VOLUNTEER FIRE DEPARTMENTS (HEREIN REFERRED TO AS FIRE COMPANY). THE VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATION (VFRA) IS A SEPARATE LEGAL ENTITY FROM THE FIRE COMPANY. VFRAS ARE FUNDED BY A STATUTORY DISBURSEMENT OF FOREIGN FIRE INSURANCE TAX FUNDS. DISBURSEMENTS ARE MADE TO THE VFRAS LOCAL MUNICIPALITY WHO THEN WILL FORWARD THE FUNDS TO THE VFRA. THE PURPOSE OF THE VFRA IS TO ENCOURAGE INDIVIDUALS TO TAKE PART IN THE FIRE SERVICE AS A VOLUNTEER AND TO PROVIDE FUNDS FOR THE PROTECTION OF THE VOLUNTEER FIREFIGHTER AND THEIR HEIRS. ACCORDING TO ACT 118 OF 2010, VFRAS MAY USE THEIR FUNDS FOR THE FOLLOWING PURPOSES: TO PURCHASE INVESTMENTS TO EARN ADDITIONAL INCOME. TO PAY COSTS TO A MEMBER OR A DECESSED MEMBERS FAMILY FOR INFIRMITY OR OTHER DISABILITY SUFFERED IN PARTCIPATION IN FIRE SERVICE. TO PROVIDE DEATH BENEFITS. TO PAY FOR SAFETY TRAINING AND SAFETY EQUIPMENT.
THE FOREIGN FIRE INSURANCE TAX DISTRIBUTION LAW WAS PASSED AS PART OF ACT 205 OF 1984, THE MUNICIPAL PENSION PLAN FUNDING STANDARD AND RECOVERY ACT (COMMONLY REFERRED TO AS "ACT 205," 53 P.S. 895.101...
THE FOREIGN FIRE INSURANCE TAX DISTRIBUTION LAW WAS PASSED AS PART OF ACT 205 OF 1984, THE MUNICIPAL PENSION PLAN FUNDING STANDARD AND RECOVERY ACT (COMMONLY REFERRED TO AS "ACT 205," 53 P.S. 895.101 ET. SEQ.). SPECIFICALLY, CHAPTER 7 OF ACT 205 SETS FORTH THE PROVISIONS OF THE FOREIGN FIRE INSURANCE TAX DISTRIBUTION LAW (53 P.S. 895.701-895.706). THE SOURCE OF THE MONIES IS A 2 PERCENT TAX ON FOREIGN FIRE INSURANCE PREMIUMS. (THE TERM FOREIGN FIRE INSURANCE MEANS FIRE INSURANCE WRITTEN BY AN INSURANCE COMPANY WHICH IS NOT INCORPORATED IN THE COMMONWEALTH OF PENNSYLVANIA.) THE COMMONWEALTH ALLOCATION TO VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATIONS IS DETERMINED BY A FORMULA BASED ON THE POPULATION AND THE MARKET VALUE OF REAL ESTATE FOR EACH MUNICIPALITY.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2018 | 2017 | Change | |
|---|---|---|---|
| Revenue | $69,196 | $91,805 | -0.2% |
| Expenses | $98,429 | $106,662 | -0.1% |
| Net Income | $-29,233 | $-14,857 | +1.0% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| TIM SAPIENZA | PRESIDENT | N/A |
Officer
Director
|
$0 | $0 | $0 |
| FRED BOWSER | VICE PRESIDE | N/A |
Officer
Director
|
$0 | $0 | $0 |
| RODNEY KNIESS | TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| WAYNE SEIBEL | SECRETARY | N/A |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2018 | $69,196 | $98,429 | $464,349 | $-29,233 |
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