WELLMAN 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

2013

Legal Domicile

Principal Officer

JEREMY PECK

Phone

3199360469

Tax Period

2023-01-01 to 2023-12-31

WELLMAN VOLUNTEER FIRE DEPARTMENT, founded in 2013, is a small nonprofit in the Public Safety sector that reported $201K in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $185K left a modest 8% surplus.

Mission

PROVIDE FIRE PROTECTION FOR THE CITY OF WELLMAN, IA AND SURROUNDING TOWNSHIPS.

Program Service Accomplishments

Program 1

Expenses: $177,162

PROVIDE TRAINING AND RESOURCE MATERIALS TO FIRE DEPARTMENT PERSONNEL. PROVIDE SAFETY EQUIPMENT, CLOTHING AND OTHER SUPPLIES TO THE FIRE DEPARTMENT. REPAIR AND MAINTAIN THE FIRE TRUCKS AND BUILDING.

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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 $167,969

Program Service Revenue $0

Investment Income $11,193

Other Revenue $21,534

TOTAL REVENUE $200,696

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $177,162

Other Expenses $185,300

TOTAL EXPENSES $185,300

Year-over-Year Comparison

	2023	2022	Change
Revenue	$200,696	$152,194	+0.3%
Expenses	$185,300	$141,217	+0.3%
Net Income	$15,396	$10,977	+0.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSE GINGERICH	ASST SEC/TRE	1.00	Officer	$0	$0	$0
JARED KINSINGER	TRAINING	1.00	Officer	$0	$0	$0
MIKE KRAL	TRAINING	1.00	Officer	$0	$0	$0
TRACY OWENS	SEC/TREASURE	1.00	Officer	$0	$0	$0
TREVER OWENS	1ST ASST CHI	1.00	Officer	$0	$0	$0
JEREMY PECK	CHIEF	1.00	Officer	$0	$0	$0
JIM SEWARD	2ND ASST CHI	1.00	Officer	$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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$200,696	$185,300	$1,140,577	$15,396
2022	$152,194	$141,217	$1,084,550	$10,977
2021	$145,581	$72,113	$971,023	$73,468
2020	$133,336	$109,071	$865,646	$24,265
2019	$103,537	$103,505	$815,100	$32
2018	$117,522	$121,189	$806,180	$-3,667