PFD FIREFIGHTERS CREDIT UNION INC

EIN: 540636804

PORTSMOUTH, VA

Total Revenue
$1,536,625
Total Expenses
$1,461,275
Total Assets
$34,240,485
Net Assets
$4,659,890
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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
1955
Legal Domicile
VA
Phone
7576863051
Tax Period
2023-01-01 to 2023-12-31

PFD FIREFIGHTERS CREDIT UNION INC, founded in 1955, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.5M left a modest 5% surplus.

Mission

THE CREDIT UNION'S MISSION IS TO PROVIDE AFFORDABLE FINANCIAL SERVICES TO ITS MEMBERS, INCLUDING LOAN RELATIONSHIPS, DEPOSITORY SERVICES, DEBIT CARDS AND INTERNET BANKING BY PROFESSIONALS WHO PROVIDE EXCELLENT SERVICE.

Program Service Accomplishments

Program 1

THE CREDIT UNION PROVIDED AFFORDABLE LOANS TO 396 INDIVIDUALS DURING THE YEAR. MANY OF THESE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION...

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THE CREDIT UNION PROVIDED AFFORDABLE LOANS TO 396 INDIVIDUALS DURING THE YEAR. MANY OF THESE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS AND DEBIT CARDS, INTERNET BANKING, ACCOUNT TRANSFERS, NIGHT DEPOSIT BOX, MONEY WIRES AND NOTARY SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS PRIMARILY OF FIRE DEPARTMENT EMPLOYEES AND THEIR FAMILIES AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,464,385
Investment Income $72,240
Other Revenue $0
TOTAL REVENUE $1,536,625

Expense Breakdown

Grants Paid $0
Salaries & Benefits $585,930
Fundraising Expenses $0
Other Expenses $875,345
TOTAL EXPENSES $1,461,275

Year-over-Year Comparison

2023 2022 Change
Revenue $1,536,625 $1,409,974 +0.1%
Expenses $1,461,275 $1,283,739 +0.1%
Net Income $75,350 $126,235 -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

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Governance

Voting Members
7
Independent Members
7
Employees
8
Volunteers
13

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
5
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Susan Easter CEO 50.00
$111,385 $0 $111,385
JAMES HOFFLER Director 0.00
Director
$0 $0 $0
GROVER HOLLOMON President 0.00
Officer Director
$0 $0 $0
RICHARD STEPHENS Vice President 0.00
Officer Director
$0 $0 $0
DOUGLAS BRITT HUGHSON Treasurer 0.00
Officer Director
$0 $0 $0
BECK BARFIELD Director 0.00
Director
$0 $0 $0
GARY LASSITER Secretary 0.00
Officer Director
$0 $0 $0
DAVID HARRINGTON Vice President 0.00
Officer 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 No data No data No data No data
2023 $1,536,625 $1,461,275 $34,240,485 $75,350
2022 $1,409,974 $1,283,739 $33,133,734 $126,235
2021 $1,426,996 $1,301,117 $34,059,949 $125,879
2020 $1,417,911 $1,269,078 $31,476,567 $148,833
2019 $1,463,522 $1,274,028 $29,361,665 $189,494
2018 $1,365,088 $1,152,749 $27,550,614 $212,339
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