Isle of Wight Volunteer Rescue Squ… - Form 990 Financial Data

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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

1968

Legal Domicile

Principal Officer

Grady Miller

Phone

7573572587

Tax Period

2024-01-01 to 2024-12-31

Isle of Wight Volunteer Rescue Squad, founded in 1968, is a small nonprofit in the Public Safety sector that reported $352K in total revenue in fiscal year 2024. Expenses of $316K left a modest 10% surplus.

Mission

To provide emergency and medical services to the residents of Town of Smithfield and Isle of Wight County, VA

Program Service Accomplishments

Program 1

Expenses: $304,865 Revenue: $352,223

Provide EMS Services to Isle of Wight County and Town of Smithfield VA. In 2024, the Rescue Squad responded to 2,827 calls.

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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 $347,533

Program Service Revenue $0

Investment Income $4,690

Other Revenue $0

TOTAL REVENUE $352,223

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $304,865

Other Expenses $315,524

TOTAL EXPENSES $315,524

Year-over-Year Comparison

	2024	2023	Change
Revenue	$352,223	$345,313	+0.0%
Expenses	$315,524	$342,834	-0.1%
Net Income	$36,699	$2,479	+13.8%

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
Jeff Looney	President	5.00	Officer Director	$0	$0	$0
Lacey Looney	VP-Finances	5.00	Officer Director	$0	$0	$0
Lori Taylor	VP-Membership	2.00	Officer Director	$0	$0	$0
Faith Altman	Secretary	2.00	Officer Director	$0	$0	$0
Brian Carroll	Chief	8.00	Officer Director	$0	$0	$0
Jessica Owens	Deputy Chief-Training	8.00	Officer Director	$0	$0	$0
Chad Owens	Deputy Chief-Operations	8.00	Officer Director	$0	$0	$0
Connor Bowman	Member At Large	2.00	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
2025	No data	No data	No data	No data
2024	$352,223	$315,524	$597,270	$36,699
2023	$345,313	$342,834	$561,175	$2,479
2022	$295,524	$317,859	$556,495	$-22,335
2021	$286,966	$342,051	$593,156	$-55,085
2020	$404,275	$356,369	$650,802	$47,906
2019	$165,536	$310,029	$601,326	$-144,493
2018	$364,313	$322,344	$742,637	$41,969

Isle of Wight Volunteer Rescue Squad