ROMNEY VOLUNTEER FIRE COMPANY

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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

1929

Legal Domicile

Principal Officer

JENNIFER NATION

Phone

3017294721

Tax Period

2024-01-01 to 2024-12-31

ROMNEY VOLUNTEER FIRE COMPANY, founded in 1929, is a small nonprofit in the Public Safety sector that reported $291K in total revenue in fiscal year 2024. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $525K exceeded revenue, resulting in a 80% operating deficit.

Mission

LOCAL VOLUNTEER FIRE DEPARTMENT PROVIDING FIRE PROTECTION AND RESCUE SERVICES TO THE CITIZENS OF ROMNEY WV AND SURROUNDING AREAS.

Program Service Accomplishments

Program 1

Expenses: $497,978 Revenue: $9,963

PROVISION OF FIRE PREVENTION AND RESCUE SERVICES TO ROMNEY WV AND

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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 $165,398

Program Service Revenue $9,963

Investment Income $36,000

Other Revenue $79,636

TOTAL REVENUE $290,997

Expense Breakdown

Grants Paid $6,450

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $497,978

Other Expenses $516,465

TOTAL EXPENSES $524,510

Year-over-Year Comparison

	2024	2023	Change
Revenue	$290,997	$851,889	-0.7%
Expenses	$524,510	$355,313	+0.5%
Net Income	$-233,513	$496,576	-1.5%

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
JENNY NATION	PRESIDENT	5	Officer	$0	$0	$0
JEFF WILKINS	VICE PRESIDENT	5	Officer	$0	$0	$0
DANIELLE SMITH	TREASURER	5	Officer	$0	$0	$0
ERIC PICKEL	SECRETARY	5	Officer	$0	$0	$0
GARRETT PARSON	CHIEF	5	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
2024	$290,997	$524,510	$1,733,533	$-233,513
2023	$851,889	$355,313	$1,303,021	$496,576
2022	$255,287	$276,307	$834,617	$-21,020
2021	$439,855	$244,607	$903,976	$195,248
2020	$218,099	$246,844	$931,824	$-28,745
2019	$240,823	$276,098	$924,085	$-35,275
2018	$268,688	$262,806	$994,944	$5,882