WAKE FOREST FIREFIGHTERS FOUNDATION INC

EIN: 566180071 501(c)(3) Public Safety

WAKE FOREST, NC

Total Revenue
$224,184
Total Expenses
$217,255
Total Assets
$777,055
Net Assets
$777,055
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1921
Legal Domicile
NC
Principal Officer
FRANK DRAKE
Phone
9195561966
Tax Period
2024-07-01 to 2025-06-30

WAKE FOREST FIREFIGHTERS FOUNDATION INC, founded in 1921, is a small nonprofit in the Public Safety sector that reported $224K in total revenue in fiscal year 2024. Revenue surged 193% from the prior year, signaling strong growth momentum. Expenses of $217K left a modest 3% surplus.

Mission

THE WAKE FOREST FIREFIGHTERS FOUNDATION ENDEAVORS TO SUPPORT THE NEEDS OF WAKE FOREST FIRE DEPARTMENT FIREFIGHTERS AND THEIR FAMILIES WHILE ALSO CONTRIBUTING TO THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $206,727 Revenue: $54,992

THE DEPARTMENT'S PROGRAM SERVICES INCLUDE THE DELIVERY OF FIRE PREVENTION AND SUPPRESSION SERVICES, MEDICAL AND EMERGENCY SERVICES, AND VARIOUS COMMUNITY FIRE AND SAFETY EDUCATION PROGRAMS.

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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 $153,907
Program Service Revenue $54,992
Investment Income $4,616
Other Revenue $10,669
TOTAL REVENUE $224,184

Expense Breakdown

Grants Paid $112,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $206,727
Other Expenses $105,255
TOTAL EXPENSES $217,255

Year-over-Year Comparison

2024 2023 Change
Revenue $224,184 $76,516 +1.9%
Expenses $217,255 $67,474 +2.2%
Net Income $6,929 $9,042 -0.2%
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

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
12

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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES HOLDING SECRETARY 3.00
Officer Director
$0 $0 $0
THOMAS WALTERS MEMBER 1.00
Director
$0 $0 $0
FRANK DRAKE PRESIDENT 3.00
Officer Director
$0 $0 $0
CLIFTON KEITH TREASURER 3.00
Officer Director
$0 $0 $0
ANNE REEVE MEMBER 1.00
Director
$0 $0 $0
GARY SULLIVAN MEMBER 1.00
Director
$0 $0 $0
MINDY WILSON MEMBER 1.00
Director
$0 $0 $0
DEAN TRYON MEMBER 1.00
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 $224,184 $217,255 $777,055 $6,929
2024 No data No data No data No data
2023 $83,313 $64,926 $643,688 $18,387
2022 $84,003 $66,205 $580,548 $17,798
2021 $67,270 $153,895 $640,698 $-86,625
2020 $9,109,043 $8,115,724 $9,138,575 $993,319
2019 $7,158,889 $6,801,807 $8,299,374 $357,082
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