PALM BEACH COUNTY FIRE FIGHTERS EMPLOYEES' BENEFITS FUND

EIN: 592477751

WEST PALM BEACH, FL

Total Revenue
$46,713,917
Total Expenses
$53,394,169
Total Assets
$44,527,273
Net Assets
$39,039,163
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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
1985
Legal Domicile
FL
Principal Officer
ARMAND NAULT
Phone
5619690729
Tax Period
2024-01-01 to 2024-12-31

PALM BEACH COUNTY FIRE FIGHTERS EMPLOYEES' BENEFITS FUND, founded in 1985, is a mid-sized nonprofit that reported $46.7M in total revenue in fiscal year 2024. Expenses of $53.4M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROVIDE HEALTH AND LIFE INSURANCE BENEFITS TO PARTICIPANTS AND THEIR DEPENDENTS.

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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 $0
Program Service Revenue $43,633,702
Investment Income $2,775,410
Other Revenue $304,805
TOTAL REVENUE $46,713,917

Expense Breakdown

Grants Paid $0
Salaries & Benefits $9,620,826
Fundraising Expenses $0
Other Expenses $5,835,129
TOTAL EXPENSES $53,394,169

Year-over-Year Comparison

2024 2023 Change
Revenue $46,713,917 $43,641,212 +0.1%
Expenses $53,394,169 $46,322,170 +0.2%
Net Income $-6,680,252 $-2,680,958 +1.5%
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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Governance

Voting Members
10
Independent Members
10
Employees
8
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
4
$137,133
Total Directors
10
$3,600
Key Employees
1
$191,451
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARMAND NAULT CHAIRMAN 1.50
Officer Director
$600 $0 $600
ANTHONY TOZZI VICE CHAIRMA 1.50
Officer Director
$600 $0 $600
TRACI MOORE SECRETARY 1.50
Officer Director
$0 $0 $0
MATTHEW GAFFNEY TRUSTEE 1.50
Director
$600 $0 $600
NICHOLAS GEORGE TRUSTEE 1.50
Director
$0 $0 $0
BRADLEY LABAR TRUSTEE 1.50
Director
$600 $0 $600
ROBERTTA MANGER TRUSTEE 1.50
Director
$0 $0 $0
JEFFREY NEWSOME TRUSTEE 1.50
Director
$600 $0 $600
NEAL NIEMCZYK TRUSTEE 1.50
Director
$0 $0 $0
BRYAN PRATHER TRUSTEE 1.50
Director
$600 $0 $600
MICHAEL BERGERON FINANCE DIRE 40.00
Officer
$88,735 $47,198 $135,933
MICHAEL SEDGWICK DIRECTOR PRO 40.00
Key Emp
$173,295 $18,156 $191,451
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
2024 $46,713,917 $53,394,169 $44,527,273 $-6,680,252
2023 $43,641,212 $46,322,170 $48,152,977 $-2,680,958
2022 $41,969,651 $42,119,676 $46,217,473 $-150,025
2021 $53,363,848 $50,570,576 $54,450,033 $2,793,272
2020 $49,974,142 $42,621,854 $50,163,061 $7,352,288
2019 $37,073,824 $32,704,042 $35,938,689 $4,369,782
2018 $34,855,392 $31,974,778 $29,082,084 $2,880,614
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