OSOLO TOWNSHIP VOLUNTEER FIRE DEPARTMENT INC

EIN: 351066119 501(c)(3) Public Safety

ELKHART, IN

Total Revenue
$2,332,383
Total Expenses
$1,979,305
Total Assets
$2,853,470
Net Assets
$2,823,987
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1957
Legal Domicile
IN
Principal Officer
MICHAEL SMITH
Phone
5742641066
Tax Period
2024-01-01 to 2024-12-31

OSOLO TOWNSHIP VOLUNTEER FIRE DEPARTMENT INC, founded in 1957, is a community nonprofit in the Public Safety sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 148% from the prior year, signaling strong growth momentum. The organization ran a surplus of $353K, a strong 15% operating margin.

Mission

TO PROVIDE FIRE PROTECTION AND EMERGENCY MEDICAL SERVICES TO OSOLO TOWNSHIP.

Program Service Accomplishments

Program 1
Expenses: $1,635,210 Revenue: $2,235,847

THE ORGANIZATION PROVIDES FIRE AND EMERGENCY PROTECTION TO OSOLO TOWNSHIP. IN 2024, THE ORGANIZATION RESPONDED TO 1,370 TOTAL CALLS: 384 FIRE CALLS AND 986 EMERGENCY CALLS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $26,910
Program Service Revenue $2,235,645
Investment Income $64,247
Other Revenue $5,581
TOTAL REVENUE $2,332,383

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,405,925
Fundraising Expenses $0
Program Expenses $1,635,210
Other Expenses $573,380
TOTAL EXPENSES $1,979,305

Year-over-Year Comparison

2024 2023 Change
Revenue $2,332,383 $941,313 +1.5%
Expenses $1,979,305 $1,651,504 +0.2%
Net Income $353,078 $-710,191 -1.5%
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

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Governance

Voting Members
9
Independent Members
1
Employees
24
Volunteers
4

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
5
$96,822
Total Directors
9
$339,395
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL SMITH FIRE CHIEF 40.00
Officer Director
$87,147 $0 $87,147
GARRETT FREY BOARD MEMBER 0.50
Director
$67,293 $0 $67,293
MICHAEL GRAHAM BOARD MEMBER 1.00
Director
$44,485 $0 $44,485
CHRISTOPHER JONES BOARD MEMBER 1.00
Director
$65,071 $0 $65,071
JO JOHNSTON SECRETARY 0.50
Officer Director
$0 $75 $75
STEVE CRAWFORD TREASURER 5.00
Officer Director
$6,900 $0 $6,900
BRITTANY SEABOLT CHAIRMAN 2.00
Officer Director
$2,100 $0 $2,100
MICHAEL KORLOWICZ VICE CHAIRMAN 0.50
Officer Director
$600 $0 $600
RYAN DEAL BOARD MEMBER 0.50
Director
$65,724 $0 $65,724
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 $2,332,383 $1,979,305 $2,853,470 $353,078
2023 $941,313 $1,651,504 $1,562,568 $-710,191
2022 $783,051 $1,522,050 $1,498,505 $-738,999
2021 $1,421,459 $1,302,362 $2,015,594 $119,097
2020 $1,250,484 $1,125,973 $1,900,258 $124,511
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