HATTERAS ISLAND RESCUE SQUAD 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

1983

Legal Domicile

Principal Officer

MICHELLE SCARBOROUGH

Phone

2529955490

Tax Period

2024-09-01 to 2025-08-31

HATTERAS ISLAND RESCUE SQUAD INC, founded in 1983, is a small nonprofit in the Health Care sector that reported $264K in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $311K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PROVIDE EMERGENCY MEDICAL SERVICES, MARINE RESCUE OPERATIONS, DISASTER AND GENERAL ASSISTANCE AND SUPPORT TO THE RESIDENTS AND VISITORS TO HATTERAS ISLAND.

Program Service Accomplishments

Program 1

Expenses: $288,338

TO PROVIDE EMERGENCY MEDICAL SERVICES, MARINE RESCUE OPERATIONS, DISASTER AND GENERAL ASSISTANCE AND SUPPORT TO THE RESIDENTS AND VISITORS TO HATTERAS ISLAND.

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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 $254,632

Program Service Revenue $0

Investment Income $9,053

Other Revenue $0

TOTAL REVENUE $263,685

Expense Breakdown

Grants Paid $0

Salaries & Benefits $120,375

Fundraising Expenses $0

Program Expenses $288,338

Other Expenses $191,081

TOTAL EXPENSES $311,456

Year-over-Year Comparison

	2024	2023	Change
Revenue	$263,685	$326,089	-0.2%
Expenses	$311,456	$292,028	+0.1%
Net Income	$-47,771	$34,061	-2.4%

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
PAUL FLYTHE	President	3.00	Officer Director	$0	$0	$0
MICHELLE SCARBOROUGH	Treasurer	6.00	Officer Director	$0	$0	$0
JACK SCARBOROUGH	CHIEF	15.00	Director	$0	$0	$0
WILLIAM LARICOS	Vice President	9.00	Officer Director	$0	$0	$0
MAGGIE WILLIAMS	Secretary	10.00	Officer Director	$0	$0	$0
BEJAMIN WILLIAMS	Director	5.00	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	$263,685	$311,456	$939,322	$-47,771
2024	No data	No data	No data	No data
2023	$343,893	$308,952	$955,791	$34,941
2022	$257,740	$230,624	$922,682	$27,116
2021	$257,266	$275,682	$894,055	$-18,416
2020	$258,993	$230,952	$907,887	$28,041
2019	$233,708	$260,197	$879,846	$-26,489
2018	$215,112	$182,395	$908,568	$32,717