SOMERSET VOLUNTEER FIRE DEPARTMENT (EIN 256039305) - 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

1912

Legal Domicile

Principal Officer

G HENRY COOK

Phone

8144454343

Tax Period

2024-01-01 to 2024-12-31

SOMERSET VOLUNTEER FIRE DEPARTMENT, founded in 1912, is a small nonprofit in the Public Safety sector that reported $450K in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $986K exceeded revenue, resulting in a 119% operating deficit.

Mission

VOLUNTEER FIRE DEPARTMENT

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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 $234,391

Program Service Revenue $0

Investment Income $150,858

Other Revenue $64,315

TOTAL REVENUE $449,564

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $897,840

Other Expenses $985,866

TOTAL EXPENSES $985,866

Year-over-Year Comparison

	2024	2023	Change
Revenue	$449,564	$414,584	+0.1%
Expenses	$985,866	$367,388	+1.7%
Net Income	$-536,302	$47,196	-12.4%

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

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
PETE BARNHART	DIRECTOR	N/A	Director	$0	$0	$0
JAMES CLARK	FIRE CHIEF	N/A	Officer Director	$0	$0	$0
G HENRY COOK	PRESIDENT	N/A	Officer Director	$0	$0	$0
FRANK FROLA	TREASURER	N/A	Director	$0	$0	$0
KRISTIN GRASSER	RECORDING SE	N/A	Officer Director	$0	$0	$0
JARED RHOADS	DIRECTOR	N/A	Director	$0	$0	$0
STEVE SHAULIS	VICE-PRESIDE	N/A	Officer Director	$0	$0	$0
TOM SMITH	DIRECTOR	N/A	Director	$0	$0	$0
GARY THOMAS	DIRECTOR	N/A	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	$449,564	$985,866	$2,614,636	$-536,302
2023	$414,584	$367,388	$3,150,938	$47,196
2022	$499,978	$302,923	$3,103,742	$197,055
2021	$358,386	$150,924	$2,906,687	$207,462
2020	$411,946	$226,415	$2,699,225	$185,531
2019	$499,957	$123,175	$2,513,694	$376,782
2018	$374,718	$191,243	$2,136,912	$183,475

SOMERSET VOLUNTEER FIRE DEPARTMENT