FIREBOAT FIRE FIGHTER MUSEUM

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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

2012

Legal Domicile

Principal Officer

CHARLES RITCHIE

Phone

8456121950

Tax Period

2024-01-01 to 2024-12-31

FIREBOAT FIRE FIGHTER MUSEUM, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $460K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $804K exceeded revenue, resulting in a 75% operating deficit.

Mission

ORGANIZATION OPERATES A PUBLIC MUSEUM OFFERING FREE GUIDED TOURS OF THE FIRE FIGHTER, A NATIONAL LANDMARK VESSEL.

Program Service Accomplishments

Program 1

Expenses: $799,629

VISITORS TOUR THE ENTIRE VESSEL GUIDED BY KNOWLEDGEABLE VOLUNTEERS. ATTENDANCE IS APPROXIMATELY 3000 VISITORS PER YEAR

Program 2

Expenses: $3,518

VESSEL WATER DISPLAY- THREE TIMES PER YEAR ; THE FIRE FIGHTER BOAT MANEUVERS IN THE HARBOR TO DISPLAY ITS ABILITY TO SHOOT WATER FROM THE MONITORS OR WATER CANNONS. AN ESTIMATED 6000 VISITORS HAVE...

VESSEL WATER DISPLAY- THREE TIMES PER YEAR ; THE FIRE FIGHTER BOAT MANEUVERS IN THE HARBOR TO DISPLAY ITS ABILITY TO SHOOT WATER FROM THE MONITORS OR WATER CANNONS. AN ESTIMATED 6000 VISITORS HAVE HAD THIS EXPERIENCE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $453,353

Program Service Revenue $4,842

Investment Income $1,418

Other Revenue $219

TOTAL REVENUE $459,832

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $803,147

Other Expenses $803,959

TOTAL EXPENSES $803,959

Year-over-Year Comparison

	2024	2023	Change
Revenue	$459,832	$624,420	-0.3%
Expenses	$803,959	$290,150	+1.8%
Net Income	$-344,127	$334,270	-2.0%

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
CHARLES REICHERT	Trustee	0.00	Director	$0	$0	$0
JOHN LAZARICH	Trustee	0.00	Director	$0	$0	$0
JEFF GOUBEAUD	Trustee	0.00	Director	$0	$0	$0
BOB MCINNIS	Trustee	0.00	Director	$0	$0	$0
JUDY HOLE	Trustee	0.00	Director	$0	$0	$0
CHARLES RITCHIE	President	30.00	Officer	$0	$0	$0
MICHAEL HIBBARD	Secretary	20.00	Officer	$0	$0	$0
DAVID BROWN	Vice President	30.00	Officer	$0	$0	$0
DAVID NYCE	Treasurer	20.00	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
2024	$459,832	$803,959	$575,622	$-344,127
2023	$624,420	$290,150	$919,749	$334,270
2022	$101,820	$102,081	$585,479	$-261
2021	$121,889	$117,861	$650,392	$4,028
2020	$243,440	$432,016	$646,364	$-188,576
2019	$400,384	$140,248	$834,940	$260,136
2018	$138,453	$151,791	$577,387	$-13,338