Homer Volunteer Fire Department

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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

1957

Legal Domicile

Principal Officer

Matt McElroy

Phone

7408923443

Tax Period

2024-01-01 to 2024-12-31

Homer Volunteer Fire Department, founded in 1957, is a small nonprofit in the Public Safety sector that reported $373K in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $521K exceeded revenue, resulting in a 40% operating deficit.

Mission

fighting fires, providing EMS svcs

Program Service Accomplishments

Program 1

Expenses: $516,605 Revenue: $372,823

fighting fires and providing emergency medical services and ambulance services in Burlington Township, Licking County, Ohio (which includes Homer) and Miller Township, Knox County, Ohio

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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 $258,045

Program Service Revenue $114,644

Investment Income $134

Other Revenue $0

TOTAL REVENUE $372,823

Expense Breakdown

Grants Paid $311,945

Salaries & Benefits $110,675

Fundraising Expenses $0

Program Expenses $516,605

Other Expenses $98,372

TOTAL EXPENSES $520,992

Year-over-Year Comparison

	2024	2023	Change
Revenue	$372,823	$529,680	-0.3%
Expenses	$520,992	$607,331	-0.1%
Net Income	$-148,169	$-77,651	+0.9%

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

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
Kevin Megaw	Captain	2.00	Director	$0	$0	$0
Mike Carter	Lt	4.00	Director	$0	$0	$0
Jason Hufford	Captain	4.00	Director	$0	$0	$0
Matt McElroy	Chief and Treasurer	8.00	Director	$0	$0	$0
Tate Hufford	Captain	4.00	Director	$0	$0	$0
Randy King	Lt	4.00	Director	$0	$0	$0
Zach Piatt	Lt	4.00	Director	$0	$0	$0
Sean Marsee	Lt	4.00	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	$372,823	$520,992	$304,120	$-148,169
2023	$529,680	$607,331	$710,154	$-77,651
2022	$245,248	$429,735	$805,219	$-184,487
2021	$221,769	$389,545	$1,006,582	$-167,776
2020	$275,465	$374,585	$882,203	$-99,120
2019	$237,057	$347,153	$1,043,168	$-110,096
2018	$262,910	$255,191	$1,182,920	$7,719