INDEPENDENT FIRE COMPANY NO1 INC (EIN 556019816) - 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

1884

Legal Domicile

Principal Officer

MIKE HOUGH

Phone

3047252514

Tax Period

2023-01-01 to 2023-12-31

INDEPENDENT FIRE COMPANY NO1 INC, founded in 1884, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $775K in total revenue in fiscal year 2023. Revenue fell 44% from the prior year — a significant decline worth monitoring. Net assets of $2.9M represent 45 months of operating reserves.

Mission

VOLUNTEER AMBULANCE, FIRE & RESCUE SERVICES

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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 $392,212

Program Service Revenue $141,371

Investment Income $27,072

Other Revenue $214,277

TOTAL REVENUE $774,932

Expense Breakdown

Grants Paid $0

Salaries & Benefits $28,651

Fundraising Expenses $6,173

Program Expenses $636,072

Other Expenses $730,444

TOTAL EXPENSES $759,095

Year-over-Year Comparison

	2023	2022	Change
Revenue	$774,932	$1,395,225	-0.4%
Expenses	$759,095	$1,162,629	-0.3%
Net Income	$15,837	$232,596	-0.9%

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

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
MIKE HOUGH	PRESIDENT	5.00	Officer	$0	$0	$0
PAUL SILVEOUS	VICE PRESIDE	5.00	Officer	$0	$0	$0
PATRICIA TURNER	SECRETARY	5.00	Officer	$0	$0	$0
TERRY CARPER	TREASURER	5.00	Officer	$0	$0	$0
ADAM WATSON	DIRECTOR	5.00	Director	$0	$0	$0
DAVE SWAN	DIRECTOR	5.00	Director	$0	$0	$0
GEORGE WARE	DIRECTOR	5.00	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
2024	No data	No data	No data	No data
2023	$774,932	$759,095	$3,102,197	$15,837
2022	$1,395,225	$1,162,629	$3,207,787	$232,596
2021	$1,160,925	$934,551	$3,092,192	$226,374
2020	$1,004,563	$890,772	$9,173,441	$113,791
2019	$1,146,369	$854,628	$8,156,670	$291,741
2018	$1,020,877	$891,306	$7,308,437	$129,571

INDEPENDENT FIRE COMPANY NO1 INC