WOODFIN VOLUNTEER FIRE DEPARTMENT I

EIN: 561094552 501(c)(3) Public Safety

ASHEVILLE, NC

Total Revenue
$1,709,848
Total Expenses
$1,793,811
Total Assets
$1,533,714
Net Assets
$963,806
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
NC
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

TO PROTECT LIFE AND PROPERTY AGAINST INJURY AND DESTRUCTION BY FIRE OR OTHER CASUALTY IN THE TOWNSHIP OF WOODFIN, NORTH CAROLINA AND SURROUNDING COMMUNITIES.

Program Service Accomplishments

Program 1
Expenses: $1,656,733 Revenue: $1,630,983

THE WOODFIN FIRE DEPARTMENT HAS MAINTAINED A GREAT LEVEL OF SERVICE WITH LOW TAX RATES. WE ARE CURRENTLY EXPANDING OUR SERVICES TO INCLUDE MEDIUM RESCUE FOR OUR CITIZENS IN THE WOODFIN FIRE DISTRICT.

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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%)

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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

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Governance

Voting Members
7
Independent Members
3
Employees
29
Volunteers
8

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
4
$109,408
Total Directors
7
$109,408
Key Employees
0
$0
Highest Compensated
0
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
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