Patrons Mutual Fire Insurance Co of WV (EIN 550320994) - Form 990 Financial Analysis & Trantor Score

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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

1901

Legal Domicile

Principal Officer

James Perdue

Phone

3046757851

Tax Period

2023-01-01 to 2023-12-31

Patrons Mutual Fire Insurance Co of WV, founded in 1901, is a micro nonprofit that reported $19K in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum. Expenses of $23K exceeded revenue, resulting in a 21% operating deficit.

Mission

N/A

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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 (2023)

Revenue Breakdown

Contributions & Grants $7,493

Program Service Revenue $0

Investment Income $11,284

Other Revenue $0

TOTAL REVENUE $18,777

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,064

Fundraising Expenses $0

Other Expenses $11,678

TOTAL EXPENSES $22,742

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,777	$13,309	+0.4%
Expenses	$22,742	$15,714	+0.4%
Net Income	$-3,965	$-2,405	+0.6%

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

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

$10,080

Total Directors

$10,080

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James Perdue	President	20.00	Officer Director	$2,880	$0	$2,880
Dennis Brumfield	V President	10.00	Officer Director	$1,920	$0	$1,920
Mary Perdue	Sec/Tres	20.00	Officer Director Highest	$5,280	$0	$5,280
Danny Foglesong	Director	5.00	Director	$0	$0	$0
Earl Foglesong	Director	1.00	Director	$0	$0	$0
Carol Martin	Director	0.00	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
2023	$18,777	$22,742	$640,706	$-3,965
2022	$13,309	$15,714	$644,671	$-2,405
2021	$14,493	$17,154	$647,076	$-2,661
2020	$14,575	$15,308	$649,737	$-733

Patrons Mutual Fire Insurance Co of WV