LAKE NORMAN VOLUNTEER FIRE DEPT (EIN 561389507) - 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

1966

Legal Domicile

Principal Officer

JANE LANEY

Phone

7044832935

Tax Period

2024-07-01 to 2025-06-30

LAKE NORMAN VOLUNTEER FIRE DEPT, founded in 1966, is a community nonprofit in the Public Safety sector that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Net assets of $2.7M represent 25 months of operating reserves.

Mission

The Lake Norman Volunteer Fire Departments mission is to provide fire fighting and first responder services to areas in the Lake Norman area of Iredell County of 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 (2024)

Revenue Breakdown

Contributions & Grants $1,266,621

Program Service Revenue $0

Investment Income $36,087

Other Revenue $0

TOTAL REVENUE $1,302,708

Expense Breakdown

Grants Paid $0

Salaries & Benefits $962,426

Fundraising Expenses $0

Program Expenses $1,382,115

Other Expenses $419,689

TOTAL EXPENSES $1,382,115

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,302,708	$1,482,486	-0.1%
Expenses	$1,382,115	$955,336	+0.4%
Net Income	$-79,407	$527,150	-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

N/A

Employees

Volunteers

N/A

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
RICHARD HEINRICH	PRESIDENT	N/A	Officer	$0	$0	$0
GEORGE MOSER	VICE PRESIDENT	N/A	Officer	$0	$0	$0
STEVE RIGGEN	SECRETARY	N/A	Officer	$0	$0	$0
JANE LANEY	TREASURER	N/A	Officer	$0	$0	$0
JOHNNY WEBSTER	DIRECTOR	N/A	Director	$0	$0	$0
TOM HANLEY	DIRECTOR	N/A	Director	$0	$0	$0
BRETT SAWYER	DIRECTOR	N/A	Director	$0	$0	$0
LARRY MCREYNOLDS	DIRECTOR	N/A	Director	$0	$0	$0
RYAN LANEY	DIRECTOR	N/A	Director	$0	$0	$0
KEVIN CLARK	DIRECTOR	N/A	Director	$0	$0	$0
JIM PETROSKY	DIRECTOR	N/A	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
2025	$1,302,708	$1,382,115	$3,471,929	$-79,407
2024	$1,482,486	$1,391,555	$3,687,388	$90,931
2023	$1,388,774	$1,489,956	$3,729,717	$-101,182
2022	$1,101,665	$1,575,825	$4,020,479	$-474,160
2022	$970,614	$1,575,825	$3,889,428	$-605,211

LAKE NORMAN VOLUNTEER FIRE DEPT