ROCKFORD AMBULANCE SERVICE (EIN 381940510) - 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

1970

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

ROCKFORD AMBULANCE SERVICE, founded in 1970, is a community nonprofit in the Health Care sector that reported $7.8M in total revenue in fiscal year 2023.

Mission

PROVIDE PREHOSPITAL EMERGENCY MEDICAL SERVICE FOR ROCKFORD, BELMONT, LOWELL, SPARTA, GRATTAN AND GRAND RAPIDS TOWNSHIP MICHIGAN. THE SERVICE IS PROVIDED TO ALL REGARDLESS OF ABILITY TO PAY. SUBSCRIBERS TO THE CARE PLAN RECEIVE SERVICES AT NO COST FOR THE YEAR TERM.

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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 $7,760,553

Investment Income $0

Other Revenue $12,332

TOTAL REVENUE $7,772,885

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,827,074

Fundraising Expenses $0

Program Expenses $7,102,581

Other Expenses $2,825,182

TOTAL EXPENSES $7,652,256

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,772,885	$7,263,508	+0.1%
Expenses	$7,652,256	$6,620,069	+0.2%
Net Income	$120,629	$643,439	-0.8%

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

111

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
DAVID PIERANGELI	DIRECTOR	5.00	Director	$0	$0	$0
BETTY MORLOCK	BOARD DIRECTOR	5.00	Director	$0	$0	$0
THOMAS CARLSON	DIRECTOR	5.00	Director	$0	$0	$0
LAURA HOFFMAN	VICE PRESIDENT	5.00	Director	$0	$0	$0
LAURAL WALKINS	SECRETARY TREASURER OF BOARD	6.00	Director	$0	$0	$0
DAVID SPENCER	DIRECTOR	5.00	Officer Director	$0	$0	$0
DR STEVE PERRY	PRESIDENT OF BOARD	7.00	Officer	$0	$0	$0
TIMOTHY J ARMSTRONG	MANAGING DIRECTOR	42.00	Key Emp	$0	$0	$0
SHERI K VERWEY	CFO	42.00	Key Emp	$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	$7,772,885	$7,652,256	$5,117,826	$120,629
2022	$7,263,508	$6,620,110	$5,309,527	$643,398
2021	$6,168,146	$5,522,239	$4,492,625	$645,907
2020	$5,601,331	$5,319,357	$3,844,039	$281,974
2019	$5,288,162	$5,101,337	$3,704,619	$186,825
2018	$4,606,643	$4,903,269	$3,594,368	$-296,626

ROCKFORD AMBULANCE SERVICE