OCEANA FIRE ASSOCIATION

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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

1948

Legal Domicile

Principal Officer

BRIAN C MORGAN

Phone

3046825741

Tax Period

2024-01-01 to 2024-12-31

OCEANA FIRE ASSOCIATION, founded in 1948, is a small nonprofit in the Public Safety sector that reported $146K in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $42K, a strong 29% operating margin.

Mission

THE MISSION OF THE OCEANA FIRE ASSOCIATION IS TO SERVE THE COMMUNITY OF OCEANA BY DISPELLING FIRES AND THE PROTECTION OF PERSON AND PROPERTY.

Program Service Accomplishments

Program 1

Expenses: $102,942

THE OCEANA FIRE ASSOCIATION SERVED THE COMMUNITY OF OCEANA BY ANSWERING EMERGENCY CALLS AND PROMPTLY ARRIVING ON THE SCENE OF AN EMERGENCY WHEN NEEDED.

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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 $146,246

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $146,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $102,942

Other Expenses $104,142

TOTAL EXPENSES $104,142

Year-over-Year Comparison

	2024	2023	Change
Revenue	$146,246	$114,210	+0.3%
Expenses	$104,142	$109,209	0.0%
Net Income	$42,104	$5,001	+7.4%

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

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
JAMES A DRAKE	CHIEF	20.00	Officer Director	$0	$0	$0
RICKEY HICKS JR	ASST CHIEF	20.00	Officer Director	$0	$0	$0
MICHAEL S MORGAN	CAPTAIN	20.00	Director	$0	$0	$0
BRIAN C MORGAN	SECRETARY/TREASURER	20.00	Officer Director	$0	$0	$0
STEVE ADAMS	3RD ENGINEER	20.00	Director	$0	$0	$0
HERBIE HALSEY	CAPTAIN	20.00	Director	$0	$0	$0
KENNY GRAHAM	ENGINEER	20.00	Director	$0	$0	$0
NICK COLUCCI	LIEUTENANT	20.00	Director	$0	$0	$0
CHUCK CHILDERS	LIEUTENANT	20.00	Director	$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	$146,246	$104,142	$528,568	$42,104
2023	$114,210	$109,209	$533,558	$5,001
2022	$66,055	$77,504	$498,991	$-11,449
2021	$62,671	$70,367	$268,441	$-7,696
2020	$75,363	$56,811	$276,137	$18,552
2019	$65,980	$68,511	$257,586	$-2,531
2018	$61,853	$127,083	$277,117	$-65,230