COVE CREEK VOLUNTEER FIRE DEPT INC

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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

1969

Legal Domicile

Principal Officer

JIMMY HICKS

Tax Period

2023-01-01 to 2023-12-31

COVE CREEK VOLUNTEER FIRE DEPT INC, founded in 1969, is a small nonprofit in the Public Safety sector that reported $734K in total revenue in fiscal year 2023. Revenue surged 105% from the prior year, signaling strong growth momentum. The organization ran a surplus of $356K, a strong 48% operating margin.

Mission

FIREFIGHTING & RESCUE ASSISTANCE FOR THE RESIDENTS OF THE COVE CREEK FIRE DISTRICT.

Program Service Accomplishments

Program 1

Expenses: $374,794

COVE CREEK VOLUNTEER FIRE DEPARTMENT WAS ORGANIZED JANUARY, 1969, FOR THE PURPOSE OF FIRE PROTECTION AND ASSISTANCE FOR THE CITIZENS OF COVE CREEK COMMUNITY, WATAUGA COUNTY, NC. IN AUGUST, 1996, A...

COVE CREEK VOLUNTEER FIRE DEPARTMENT WAS ORGANIZED JANUARY, 1969, FOR THE PURPOSE OF FIRE PROTECTION AND ASSISTANCE FOR THE CITIZENS OF COVE CREEK COMMUNITY, WATAUGA COUNTY, NC. IN AUGUST, 1996, A FIRST RESPONDER UNIT WAS ADDED AND IS COORDINATED WITH THE LOCAL EMS. CURRENT SERVICES PROVIDED INCLUDE FIRE SUPPRESSION, LIGHT VEHICLE RESCUE, FIRE PREVENTION, HAZARDOUS MATERIALS SCENE MANAGEMENT, AND FIRST RESPONDER RESPONSES. THE DEPARTMENT RESPONDED TO 438 SEPARATE INCIDENTS DURING 2023, WITH INDIVIDUAL RESPONSES TOTALING 1367. SOME INCIDENTS REQUIRED BOTH MEDICAL AND FIRE ASSISTANCE. VOLUNTEERS COMPLETED 1445 MAN INCIDENT RESPONSES AND 3774:40 HOURS OF TRAINING DURING 2023.

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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 $727,009

Program Service Revenue $0

Investment Income $7,488

Other Revenue $0

TOTAL REVENUE $734,497

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,141

Fundraising Expenses $0

Program Expenses $374,794

Other Expenses $362,351

TOTAL EXPENSES $378,492

Year-over-Year Comparison

	2023	2022	Change
Revenue	$734,497	$357,827	+1.1%
Expenses	$378,492	$368,919	+0.0%
Net Income	$356,005	$-11,092	-33.1%

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

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
ROY TRIPLETT	DIRECTOR	1.00	Director	$0	$0	$0
MARANDA MAXEY	DIRECTOR	1.00	Director	$0	$0	$0
BOB HROZENCIK	BOARD CHAIR	1.00	Director	$0	$0	$0
JIMMY HICKS	PRESIDENTDIRECTOR	2.00	Officer Director	$0	$0	$0
LARAMIE COMBS	CORP SEC	2.00	Officer	$0	$0	$0
SUSANNE WARD	TREASURER	2.00	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
2024	No data	No data	No data	No data
2023	$734,497	$378,492	$2,257,280	$356,005
2022	$357,827	$368,919	$1,900,799	$-11,092
2021	$494,519	$250,660	$1,911,891	$243,859
2020	$334,556	$248,030	$1,668,032	$86,526
2019	$399,901	$302,630	$1,581,506	$97,271
2018	$394,006	$277,576	$1,484,234	$116,430