SARASOTA FIREFIGHTERS' INSURANCE TRUST FUND

EIN: 650404976 Mutual Benefit

PALM BEACH GARDENS, FL

Total Revenue
$4,437,506
Total Expenses
$2,439,375
Total Assets
$50,155,423
Net Assets
$50,065,687
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
FL
Principal Officer
SCOTT BAUR
Phone
9414855193
Tax Period
2022-07-01 to 2023-06-30

SARASOTA FIREFIGHTERS' INSURANCE TRUST FUND, founded in 1993, is a community nonprofit in the Mutual Benefit sector that reported $4.4M in total revenue in fiscal year 2022. Revenue fell 36% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.0M, a strong 45% operating margin.

Mission

THE TRUST IS TO FURNISH FULL OR PARTIAL HEALTH INSURANCE PREMIUMS AND MEDICAL EXPENSE REIMBURSEMENTS, AND FOR CONTRIBUTIONS TO BE MADE TO THE TRUST FUND BY SARASOTA COUNTY AND BY PARTICIPANTS. THE TRUST ADMINISTERS TWO POSTEMPLOYMENT BENEFIT PLAN FUNDS - THE HEALTH BENEFIT PLAN AND THE SUPPLEMENTAL DISABILITY BENEFIT PLAN.

Program Service Accomplishments

Program 1

TRUST FUND FURNISHED MEDICAL EXPENSE REIMBURSEMENTS AND SUPPLEMENTAL DISABILITY BENEFITS TO PARTICIPANTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,463,107
Investment Income $1,974,399
Other Revenue $0
TOTAL REVENUE $4,437,506

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $414,636
TOTAL EXPENSES $2,439,375

Year-over-Year Comparison

2022 2021 Change
Revenue $4,437,506 $6,912,515 -0.4%
Expenses $2,439,375 $2,219,193 +0.1%
Net Income $1,998,131 $4,693,322 -0.6%
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

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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
5
Independent Members
2
Employees
N/A
Volunteers
5

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
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PHILIP W VETS CHAIRMAN 3.00
Officer Director
$0 $0 $0
TIMM BAKER TRUSTEE 3.00
Officer Director
$0 $0 $0
ROBERT FLYNN TRUSTEE 3.00
Officer Director
$0 $0 $0
JOHNNY R RIGNEY JR TRUSTEE 3.00
Director
$0 $0 $0
MATTHEW SCARBOROUGH TRUSTEE 3.00
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 No data No data No data No data
2024 No data No data No data No data
2023 $4,437,506 $2,439,375 $50,155,423 $1,998,131
2022 $6,912,515 $2,219,193 $45,915,617 $4,693,322
2021 $5,832,802 $2,094,158 $51,283,652 $3,738,644
2020 $3,642,084 $1,999,061 $41,006,744 $1,643,023
2019 $3,537,207 $2,021,875 $39,413,164 $1,515,332
2018 $5,181,825 $1,930,687 $36,790,632 $3,251,138
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