WESTAREA VOLUNTEER FIRE DEPARTMENT INC (EIN 560991340) - 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

1956

Legal Domicile

Principal Officer

LEE GEROW

Phone

9108220901

Tax Period

2023-07-01 to 2024-06-30

WESTAREA VOLUNTEER FIRE DEPARTMENT INC, founded in 1956, is a community nonprofit in the Public Safety sector that reported $1.7M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Net assets of $3.3M represent 24 months of operating reserves.

Mission

FIREFIGHTING AND FIRE PREVENTION IN CUMBERLAND AND HARNETT COUNTIES IN NORTH CAROLINA

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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 $0

Program Service Revenue $1,500,003

Investment Income $8,964

Other Revenue $148,919

TOTAL REVENUE $1,657,886

Expense Breakdown

Grants Paid $0

Salaries & Benefits $720,654

Fundraising Expenses $0

Program Expenses $1,610,238

Other Expenses $971,080

TOTAL EXPENSES $1,691,734

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,657,886	$1,787,594	-0.1%
Expenses	$1,691,734	$1,338,101	+0.3%
Net Income	$-33,848	$449,493	-1.1%

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

N/A

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

$90,263

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT BASS	DISTRICT CHIEF	40.00	Director	$50,966	$0	$50,966
MIKE OWEN	ASSISTANT CHIEF	10.00	Director	$10,623	$0	$10,623
JEREMY STURTZ	MEMBER	1.00	Director	$0	$0	$0
JOSH IVEY	MEMBER	1.00	Director	$1,688	$0	$1,688
RAY CHRISTIANSON	MEMBER	1.00	Director	$0	$0	$0
ZACHARI MCFARLAND	ASSISTANT CHIEF	10.00	Director	$26,986	$0	$26,986
LEE GEROW	PRESIDENT	1.00	Officer	$0	$0	$0
STEVE BLANCHARD	TREASURER	1.00	Officer	$0	$0	$0
ANDREW DUALAN	VICE PRESIDENT	3.50	Officer	$0	$0	$0
KERRY POPE	SECRETARY	8.50	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	No data	No data	No data	No data
2024	$1,657,886	$1,691,734	$4,689,072	$-33,848
2023	$1,787,594	$1,338,101	$3,409,269	$449,493
2022	$1,753,302	$1,562,519	$2,971,981	$190,783
2021	$1,201,723	$1,228,091	$3,232,017	$-26,368
2020	$1,112,037	$1,197,230	$3,403,502	$-85,193
2019	$1,152,654	$1,133,812	$3,594,242	$18,842

WESTAREA VOLUNTEER FIRE DEPARTMENT INC