WOODFIN VOLUNTEER FIRE DEPARTMENT I (EIN 561094552) - 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

1959

Legal Domicile

Principal Officer

JUSTIN HONEYCUTT

Phone

8282557561

Tax Period

2024-07-01 to 2025-06-30

WOODFIN VOLUNTEER FIRE DEPARTMENT I, founded in 1959, is a community nonprofit in the Public Safety sector that reported $1.7M in total revenue in fiscal year 2024.

Mission

OPERATION OF VOLUNTEER FIRE DEPARTMENT FOR THE TOWN OF WOODFIN, NC

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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 $58,115

Program Service Revenue $1,630,983

Investment Income $0

Other Revenue $20,750

TOTAL REVENUE $1,709,848

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,370,720

Fundraising Expenses $0

Program Expenses $1,656,733

Other Expenses $423,091

TOTAL EXPENSES $1,793,811

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,709,848	$1,690,646	+0.0%
Expenses	$1,793,811	$1,884,041	0.0%
Net Income	$-83,963	$-193,395	-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

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

$109,408

Total Directors

$109,408

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUSTIN HONEYCUTT	CHAIR	1.00	Officer Director	$0	$0	$0
MARY ANGEL	SECRETARY	1.00	Officer Director	$0	$0	$0
JANICE RATCLIFF	TREASURER	1.00	Officer Director	$0	$0	$0
JIM ANGEL	DIRECTOR	1.00	Director	$0	$0	$0
PHILLIP ENGLE	DIRECTOR	1.00	Director	$0	$0	$0
RICK MOOREHEAD	DIRECTOR	1.00	Director	$0	$0	$0
JEFF ANGEL	CHIEF	40.00	Officer Director	$87,965	$21,443	$109,408

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	$1,709,848	$1,793,811	$1,533,714	$-83,963
2024	$1,690,646	$1,884,041	$1,712,035	$-193,395
2023	$1,647,451	$1,650,467	$1,954,876	$-3,016
2022	$1,426,292	$1,348,184	$2,042,501	$78,108
2021	$1,168,561	$1,257,950	$2,089,088	$-89,389
2020	$1,041,569	$1,199,757	$2,060,585	$-158,188
2019	$1,024,502	$1,094,361	$2,303,896	$-69,859
2018	$888,665	$922,198	$2,448,702	$-33,533

WOODFIN VOLUNTEER FIRE DEPARTMENT I