MIAMI BEACH FIREFIGHTERS LOCAL 1510 INSURANCE TRUST FUND (EIN 650868303) - 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

1998

Legal Domicile

Principal Officer

MICHELLE VIERA

Phone

9546894977

Tax Period

2023-01-01 to 2023-12-31

MIAMI BEACH FIREFIGHTERS LOCAL 1510 INSURANCE TRUST FUND, founded in 1998, is a mid-sized nonprofit in the Mutual Benefit sector that reported $13.0M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.0M, a strong 16% operating margin.

Mission

PROVIDING BENEFITS PAID ON BEHALF OF ELIGIBLE 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $11,000,096

Investment Income $1,333,670

Other Revenue $659,695

TOTAL REVENUE $12,993,461

Expense Breakdown

Grants Paid $0

Salaries & Benefits $204,065

Fundraising Expenses $0

Other Expenses $1,480,706

TOTAL EXPENSES $10,959,843

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,993,461	$10,239,297	+0.3%
Expenses	$10,959,843	$8,722,889	+0.3%
Net Income	$2,033,618	$1,516,408	+0.3%

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

$59,285

Total Directors

$189,261

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADONIS GARCIA	CHAIRMAN	1.00	Director	$70,691	$0	$70,691
MICHAEL BRADY	TRUSTEE	3.00	Director	$59,285	$0	$59,285
MICHELLE VIERA	TRUSTEE	9.00	Officer Director	$59,285	$0	$59,285
GUSTAVO ALMEYDA	TRUSTEE	1.00	Director	$0	$0	$0
DAVID ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
IVAN CHAVEZ	TRUSTEE	1.00	Director	$0	$0	$0
RICK FERNANDEZ	TRUSTEE	1.00	Director	$0	$0	$0
JOSE FLORES	TRUSTEE	1.00	Director	$0	$0	$0
DAVID GARCIA	TRUSTEE	1.00	Director	$0	$0	$0
OLIVER HANNA	TRUSTEE	1.00	Director	$0	$0	$0
OSCAR LIMA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL SICA	TRUSTEE	1.00	Director	$0	$0	$0
DAVID SOLA	TRUSTEE	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	$12,993,461	$10,959,843	$35,867,210	$2,033,618
2022	$10,239,297	$8,722,889	$29,442,771	$1,516,408
2021	$14,294,260	$7,437,873	$32,101,236	$6,856,387
2020	$10,686,366	$7,812,459	$25,833,747	$2,873,907
2019	$9,603,728	$7,412,367	$21,742,443	$2,191,361
2018	$8,488,054	$6,696,964	$17,587,392	$1,791,090

MIAMI BEACH FIREFIGHTERS LOCAL 1510 INSURANCE TRUST FUND