ROCKFORD AMBULANCE SERVICE INC

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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

Principal Officer

TIMOTHY ARMSTRONG

Phone

6168660724

Tax Period

2025-01-01 to 2025-12-31

ROCKFORD AMBULANCE SERVICE INC, founded in 1970, is a mid-sized nonprofit in the Health Care sector that reported $10.4M in total revenue in fiscal year 2025. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $9.6M left a modest 8% surplus.

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.

Program Service Accomplishments

Program 1

Expenses: $7,028,502 Revenue: $9,825,097

AMBULANCE AND EMERGENCY SERVICES TO PEOPLE IN SERVICE AREA.

Program 2

Expenses: $771,549

EDUCATION AND TRAINING INCOME. WE PROVIDE TRAINING IN CPR AND OTHER EMERGENCY RESPONSE PROCEDURES TO THE GENERAL PUBLIC.

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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 (2025)

Revenue Breakdown

Contributions & Grants $411,673

Program Service Revenue $9,825,097

Investment Income $150,295

Other Revenue $15,105

TOTAL REVENUE $10,402,170

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,978,851

Fundraising Expenses $0

Program Expenses $7,800,051

Other Expenses $3,629,031

TOTAL EXPENSES $9,607,882

Year-over-Year Comparison

	2025	2024	Change
Revenue	$10,402,170	$9,146,561	+0.1%
Expenses	$9,607,882	$8,509,122	+0.1%
Net Income	$794,288	$637,439	+0.2%

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

139

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

$441,952

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAURA HOFFMAN	PRESIDENT	0.50	Officer Director	$0	$0	$0
DAVE PIERANGELI	VICE PRESIDE	0.50	Officer Director	$0	$0	$0
DAVE SPENCER	SECRETARY/TR	0.50	Officer Director	$0	$0	$0
LAURAL WALKONS	DIRECTOR	0.50	Director	$0	$0	$0
BETTY MORLOCK	DIRECTOR	0.50	Director	$0	$0	$0
TOM CARLSON	DIRECTOR	0.50	Director	$0	$0	$0
JOSH REIMER	DIRECTOR	0.50	Director	$0	$0	$0
MACKENZIE WOODWARD	DIRECTOR	0.50	Director	$0	$0	$0
DR ROBERT MCDANIELS	DIRECTOR	0.50	Director	$0	$0	$0
TIMOTHY ARMSTRONG	CEO	40.00	Officer	$141,936	$29,272	$171,208
SHERI VERWEY	CFO	40.00	Officer	$125,579	$12,014	$137,593
MEGHAN MATTHEW	COO	40.00	Officer	$108,603	$24,548	$133,151
GILLIAN JACQUES	SUPERVISOR	48.00	Highest	$103,205	$24,548	$127,753
RICHARD KEIZER	EMPLOYEE	48.00	Highest	$151,533	$14,371	$165,904
COURTLAND HEALEY	EMPLOYEE	40.00	Highest	$103,760	$0	$103,760

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
2025	$10,402,170	$9,607,882	$7,165,073	$794,288
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