OAK ISLAND WATER RESCUE TEAM (EIN 562053399) - 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

1997

Legal Domicile

Principal Officer

DAVE HOFFERT

Phone

9102784482

Tax Period

2024-07-01 to 2025-06-30

OAK ISLAND WATER RESCUE TEAM, founded in 1997, is a small nonprofit in the Public Safety sector that reported $134K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $171K exceeded revenue, resulting in a 28% operating deficit.

Mission

VOLUNTEER WATER RESCUE SERVICES

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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 $64,686

Program Service Revenue $0

Investment Income $21,328

Other Revenue $47,908

TOTAL REVENUE $133,922

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $2,896

Program Expenses $126,951

Other Expenses $171,243

TOTAL EXPENSES $171,243

Year-over-Year Comparison

	2024	2023	Change
Revenue	$133,922	$184,942	-0.3%
Expenses	$171,243	$118,456	+0.4%
Net Income	$-37,321	$66,486	-1.6%

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

N/A

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
JAMIE BEADLE	LIEUTENANT	N/A	Officer Director	$0	$0	$0
MATT BOOSMA	LIEUTENANT	N/A	Officer Director	$0	$0	$0
MIKE HELMS	LIEUTENANT	N/A	Officer Director	$0	$0	$0
TERRY HOBEN	ASSISTANT CH	N/A	Officer Director	$0	$0	$0
DAVE HOFFERT	TREASURER	N/A	Officer Director	$0	$0	$0
CARL MAUNEY	CHIEF	N/A	Officer Director	$0	$0	$0
KATHERINE POIRIER	SECRETARY	N/A	Officer Director	$0	$0	$0
MIKE SULLIVAN	CAPTAIN	N/A	Officer Director	$0	$0	$0
KEN WORLEY	MEMBER-AT-LA	N/A	Officer 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	$133,922	$171,243	$296,123	$-37,321
2024	$184,942	$118,456	$332,794	$66,486

OAK ISLAND WATER RESCUE TEAM