PETROLIA VOLUNTEER FIRE DEPARTMENT (EIN 256060320) - 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

1965

Principal Officer

THOMAS BULLMAN

Phone

7247561900

Tax Period

2024-01-01 to 2024-12-31

PETROLIA VOLUNTEER FIRE DEPARTMENT, founded in 1965, is a small nonprofit that reported $740K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $868K exceeded revenue, resulting in a 17% operating deficit.

Mission

PROVIDE FIRE RESCUE AND AMBULANCE SERVICES TO THE COMMUNITY

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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 $23,665

Program Service Revenue $653,158

Investment Income $2,088

Other Revenue $60,760

TOTAL REVENUE $739,671

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $867,814

Other Expenses $867,814

TOTAL EXPENSES $867,814

Year-over-Year Comparison

	2024	2023	Change
Revenue	$739,671	$656,429	+0.1%
Expenses	$867,814	$352,634	+1.5%
Net Income	$-128,143	$303,795	-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
CHANCE REEP	VICE PRESIDENT	10	Officer	$0	$0	$0
JAMES BARNES	PRESIDENT	10	Officer	$0	$0	$0
THOMAS BULLMAN	TREASURER	10	Officer	$0	$0	$0
ALYSHA BRICKNER	SECRETARY	10	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	$739,671	$867,814	$647,284	$-128,143
2023	$656,429	$352,634	$775,427	$303,795
2022	$177,666	$119,703	$476,109	$57,963
2021	$256,070	$143,170	$424,754	$112,900
2020	$286,027	$119,378	$311,853	$166,649
2019	$96,322	$145,031	$154,793	$-48,709
2018	$350,535	$355,529	$208,912	$-4,994

PETROLIA VOLUNTEER FIRE DEPARTMENT