PALM BEACH COUNTY FIREFIGHTERS RETIREMENT INSURANCE FUND (EIN 650739528) - 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

1996

Legal Domicile

Principal Officer

MICHAEL BERGERON

Phone

5619696663

Tax Period

2023-01-01 to 2023-12-31

PALM BEACH COUNTY FIREFIGHTERS RETIREMENT INSURANCE FUND, founded in 1996, is a mid-sized nonprofit that reported $11.8M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.8M, a strong 49% operating margin.

Mission

TO PROVIDE INSURANCE AND MEDICAL COST REIMBURSEMENTS AND OTHER RELATED BENEFITS TO FIREFIGHTERS RETIRED FROM PALM BEACH COUNTY, FL (EMPLOYER)

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,941,939

Investment Income $4,875,215

Other Revenue $0

TOTAL REVENUE $11,817,154

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,528

Fundraising Expenses $0

Other Expenses $181,578

TOTAL EXPENSES $6,014,895

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,817,154	$8,462,836	+0.4%
Expenses	$6,014,895	$5,852,993	+0.0%
Net Income	$5,802,259	$2,609,843	+1.2%

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

Governance

Voting Members

Independent Members

Employees

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

$13,449

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL BERGERON	ADM. MANAGER	20.00	Director	$13,449	$0	$13,449
RICK RHODES	CHAIRMAN	10.00	Director	$0	$0	$0
DAVID HOROWITZ	TRUSTEE	1.00	Director	$0	$0	$0
JOHN FLAHERTY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID TOOHEY	TRUSTEE	1.00	Director	$0	$0	$0
JAMES BERRY	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM GERLACH	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL BASELICE	ALTERNATE	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
2024	No data	No data	No data	No data
2023	$11,817,154	$6,014,895	$107,508,843	$5,802,259
2022	$8,462,836	$5,852,993	$94,209,667	$2,609,843
2021	$9,881,685	$5,594,732	$110,048,759	$4,286,953
2020	$9,726,832	$5,168,966	$81,645,278	$4,557,866
2019	$9,653,727	$4,893,398	$73,293,389	$4,760,329
2018	$8,944,001	$4,063,599	$69,639,048	$4,880,402

PALM BEACH COUNTY FIREFIGHTERS RETIREMENT INSURANCE FUND