BOYKINS VOLUNTEER FIRE DEPT AND RESCUE SQUAD INC (EIN 541214001) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

CLETIS LASSITER

Phone

7576358595

Tax Period

2024-09-01 to 2025-08-31

BOYKINS VOLUNTEER FIRE DEPT AND RESCUE SQUAD INC, founded in 1956, is a small nonprofit that reported $141K in total revenue in fiscal year 2017. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $190K exceeded revenue, resulting in a 34% operating deficit.

Mission

VOLUNTEER FIRE AND RESCUE SERVICES PROVIDED TO THE TOWN OF BOYKINS, VA. AND SURROUNDING AREA.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $267,558

Program Service Revenue $3,356

Investment Income $94,348

Other Revenue $43,346

TOTAL REVENUE $408,608

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $183,435

Other Expenses $299,015

TOTAL EXPENSES $299,015

Year-over-Year Comparison

	2024	2023	Change
Revenue	$408,608	$368,657	+0.1%
Expenses	$299,015	$255,271	+0.2%
Net Income	$109,593	$113,386	0.0%

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
ANGEL CLARK	SECRETARY	4.00	Officer	$0	$0	$0
CARLA RENEE LASSITER	TREASURER	4.00	Officer	$0	$0	$0
CLETIS LASSITER	PRESIDENT	12.00	Officer	$0	$0	$0
JUSTIN OVERBY	VICE PRESIDE	2.00	Officer	$0	$0	$0
ROBERT VANN	PARLIAMENTAR	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	$408,608	$299,015	$1,267,510	$109,593
2024	$368,657	$255,271	$1,252,566	$113,386
2023	$212,679	$200,378	$921,078	$12,301
2022	$182,555	$249,718	$948,670	$-67,163
2021	$314,134	$220,610	$1,049,952	$93,524
2020	$146,094	$237,523	$992,255	$-91,429
2019	$403,414	$250,738	$752,507	$152,676
2018	$141,490	$189,777	$510,887	$-48,287

BOYKINS VOLUNTEER FIRE DEPT AND RESCUE SQUAD INC