AKRON POLICE DEPARTMENT VOLUNTARY EMPLOYEE INSURANCE ASSOCIATION (EIN 341438839) - 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

1984

Legal Domicile

Principal Officer

GERALD FORNEY

Phone

3303752490

Tax Period

2023-01-01 to 2023-12-31

AKRON POLICE DEPARTMENT VOLUNTARY EMPLOYEE INSURANCE ASSOCIATION, founded in 1984, is a small nonprofit that reported $146K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $137K left a modest 6% surplus.

Mission

TO PROVIDE INSURANCE BENEFITS TO MEMBERS.

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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 $0

Program Service Revenue $49,256

Investment Income $96,539

Other Revenue $0

TOTAL REVENUE $145,795

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,000

Fundraising Expenses $0

Other Expenses $18,864

TOTAL EXPENSES $137,192

Year-over-Year Comparison

	2023	2022	Change
Revenue	$145,795	$194,317	-0.2%
Expenses	$137,192	$114,053	+0.2%
Net Income	$8,603	$80,264	-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

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

$12,000

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERALD FORNEY	SECRETARY/TREASURER	6.25	Officer Director	$12,000	$0	$12,000
STEPHEN PHILLIPS	PRESIDENT	0.50	Officer Director	$0	$0	$0
JAMES PASHEILICH	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
NICK AVELINO	TRUSTEE	0.10	Director	$0	$0	$0
ALLEN FITE	TRUSTEE	0.50	Director	$0	$0	$0
ERIC MCDONALD	TRUSTEE	0.10	Director	$0	$0	$0
MICHAEL SCHMIDT	TRUSTEE	0.10	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	No data	No data	No data	No data
2023	$145,795	$137,192	$2,634,665	$8,603
2022	$194,317	$114,053	$2,419,740	$80,264
2021	$313,467	$119,614	$2,725,757	$193,853
2020	$150,118	$125,130	$2,430,128	$24,988
2019	$139,253	$110,536	$2,314,638	$28,717
2018	$193,265	$89,637	$1,943,485	$103,628

AKRON POLICE DEPARTMENT VOLUNTARY EMPLOYEE INSURANCE ASSOCIATION