CHESAPEAKE VOLUNTEER FIRE DEPARTMENT (EIN 556024070) - 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

1958

Legal Domicile

Principal Officer

Jeremy Hamilton

Phone

3042068618

Tax Period

2024-01-01 to 2024-12-31

CHESAPEAKE VOLUNTEER FIRE DEPARTMENT, founded in 1958, is a small nonprofit that reported $276K in total revenue in fiscal year 2024. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $380K exceeded revenue, resulting in a 38% operating deficit.

Mission

Provide Fire and Rescue to Chesapeake, Winifrede and Surrounding Areas

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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 $198,653

Program Service Revenue $0

Investment Income $21,632

Other Revenue $55,550

TOTAL REVENUE $275,835

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $379,711

Other Expenses $379,711

TOTAL EXPENSES $379,711

Year-over-Year Comparison

	2024	2023	Change
Revenue	$275,835	$772,829	-0.6%
Expenses	$379,711	$205,277	+0.8%
Net Income	$-103,876	$567,552	-1.2%

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
Billy Howell	Assistant Chief	2.00	Director	$0	$0	$0
Joshua Williams	President of Board of Directors	1.00	Officer Director	$0	$0	$0
Robert D Harmon III	Board Vice President	1.00	Officer Director	$0	$0	$0
Jeremy Hamilton	Chief	20.00	Officer Director	$0	$0	$0
Angel Stone	Secretary of Board of Directors	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
2024	$275,835	$379,711	$530,361	$-103,876
2023	$772,829	$205,277	$662,259	$567,552
2018	$58,426	$81,099	$424,095	$-22,673

CHESAPEAKE VOLUNTEER FIRE DEPARTMENT