GALAX VOLUNTEER FIRE DEPARTMENT IN

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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

1956

Legal Domicile

Principal Officer

CHARLES SMITH

Phone

2762362528

Tax Period

2023-01-01 to 2023-12-31

GALAX VOLUNTEER FIRE DEPARTMENT IN, founded in 1956, is a small nonprofit in the Public Safety sector that reported $411K in total revenue in fiscal year 2023. The organization ran a surplus of $149K, a strong 36% operating margin.

Mission

TO PROVIDE EMERGENCY SERVICES TO THE CITIZENS OF THE CITY OF GALAX AND PORTIONS OF GRAYSON AND CARROLL COUNTIES.

Program Service Accomplishments

Program 1

Expenses: $222,657

RESPOND TO FIRES, NATURAL DISASTERS, TRAFFIC ACCIDENTS, AND ODOR INVESTIGATIONS OF NATURAL GAS OR CHEMICAL LEAKS FOR THE COVERAGE AREA.

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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 $303,635

Program Service Revenue $0

Investment Income $195

Other Revenue $106,761

TOTAL REVENUE $410,591

Expense Breakdown

Grants Paid $0

Salaries & Benefits $94,292

Fundraising Expenses $0

Program Expenses $257,567

Other Expenses $167,547

TOTAL EXPENSES $261,839

Year-over-Year Comparison

	2023	2022	Change
Revenue	$410,591	$397,309	+0.0%
Expenses	$261,839	$352,811	-0.3%
Net Income	$148,752	$44,498	+2.3%

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

N/A

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
JASON BOWERS	1ST LIEUTENA	2.00	Director	$0	$0	$0
JOSH HAGA	ASST. EXEC A	4.00	Director	$0	$0	$0
ERIC HALE	ASSISTANT CH	4.00	Director	$0	$0	$0
CHRIS HENNIS	EXECUTIVE AD	4.00	Director	$0	$0	$0
DON HOUK	TRUSTEE	1.00	Director	$0	$0	$0
RODNEY ROBERTS	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES SMITH	CHAIRMAN	2.00	Director	$0	$0	$0
RICKY WALKER	CAPTAIN	2.00	Director	$0	$0	$0
TOM WHARTENBY	CHAPLAIN	N/A	Director	$0	$0	$0
TYLER WILSON	3RD LIEUTENA	1.00	Director	$0	$0	$0
MIKE AYERS	CHIEF	4.00	Officer	$0	$0	$0
WILLIE GREENE	TRUSTEE	1.00	Officer	$0	$0	$0
RONALD RECTOR	TRUSTEE	1.00	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	$410,591	$261,839	$764,887	$148,752
2022	$397,309	$352,811	$616,135	$44,498
2021	$274,661	$226,070	$572,666	$48,591
2020	$306,959	$237,275	$619,252	$69,684
2019	$221,057	$187,410	$471,305	$33,647
2018	$286,404	$335,105	$463,563	$-48,701