WALNUT COVE VOLUNTEER FIRE DEPARTMENT

EIN: 581574224 501(c)(3) Public Safety

WALNUT COVE, NC

Total Revenue
$873,705
Total Expenses
$792,486
Total Assets
$1,184,211
Net Assets
$921,479
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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
1956
Legal Domicile
NC
Principal Officer
BRIAN BOOE
Phone
3365914477
Tax Period
2024-07-01 to 2025-06-30

WALNUT COVE VOLUNTEER FIRE DEPARTMENT, founded in 1956, is a small nonprofit in the Public Safety sector that reported $874K in total revenue in fiscal year 2024. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $792K left a modest 9% surplus.

Mission

TO PROVIDE FIRE AND RESCUE SERVICES WITHIN THE DEPARTMENT'S SERVICE AREA.

Program Service Accomplishments

Program 1
Expenses: $767,323

TO PROVIDE FIRE AND RESCUE SERVICES FOR THE TOWN OF WALNUT COVE, NORTH CAROLINA AND THE SURROUNDING AREAS.

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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 $855,898
Program Service Revenue $0
Investment Income $-1,725
Other Revenue $19,532
TOTAL REVENUE $873,705

Expense Breakdown

Grants Paid $0
Salaries & Benefits $290,615
Fundraising Expenses $0
Program Expenses $767,323
Other Expenses $501,871
TOTAL EXPENSES $792,486

Year-over-Year Comparison

2024 2023 Change
Revenue $873,705 $603,378 +0.4%
Expenses $792,486 $708,894 +0.1%
Net Income $81,219 $-105,516 -1.8%
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
10
Independent Members
10
Employees
21
Volunteers
23

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
$50,228
Total Directors
9
$50,228
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN BOOE CHIEF 20.00
Officer Director
$43,378 $0 $43,378
JOHN HAWKINS TREASURER 5.00
Officer Director
$6,850 $0 $6,850
MATT ALLEY DIRECTOR 1.00
Director
$0 $0 $0
PATRICK BRANCH DIRECTOR 1.00
Director
$0 $0 $0
JULIA EDWARDS DIRECTOR 1.00
Director
$0 $0 $0
FELIX GOOLSBY DIRECTOR 1.00
Director
$0 $0 $0
BOBBY MILLER DIRECTOR 1.00
Director
$0 $0 $0
ZACK SMITH DIRECTOR 1.00
Director
$0 $0 $0
GREG TEAGUE VICE CHAIRMA 1.00
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 $873,705 $792,486 $1,184,211 $81,219
2024 $603,378 $708,894 $1,153,604 $-105,516
2023 $570,034 $662,751 $1,307,971 $-92,717
2022 $511,816 $656,894 $1,448,030 $-145,078
2021 $1,175,433 $515,837 $1,639,108 $659,596
2020 $407,111 $500,826 $1,023,571 $-93,715
2019 $419,286 $485,631 $1,192,399 $-66,345
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