CORRIGAN VOLUNTEER FIRE DEPARTMENT

EIN: 752396973 501(c)(3)

CORRIGAN, TX

Total Revenue
$243,302
Total Expenses
$43,122
Total Assets
$691,481
Net Assets
$691,481
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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
1991
Legal Domicile
TX
Principal Officer
MIKE COBB
Phone
9364653925
Tax Period
2023-10-01 to 2024-09-30

CORRIGAN VOLUNTEER FIRE DEPARTMENT, founded in 1991, is a small nonprofit that reported $243K in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $200K, a strong 82% operating margin.

Mission

PROTECT LIVES AND PROPERTY FROM FIRE AND HAZARDS

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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 (2023)

Revenue Breakdown

Contributions & Grants $242,493
Program Service Revenue $0
Investment Income $809
Other Revenue $0
TOTAL REVENUE $243,302

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $41,594
Other Expenses $43,122
TOTAL EXPENSES $43,122

Year-over-Year Comparison

2023 2022 Change
Revenue $243,302 $293,905 -0.2%
Expenses $43,122 $73,144 -0.4%
Net Income $200,180 $220,761 -0.1%
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
25
Independent Members
25
Employees
N/A
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
5
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIMMY MCDONALD CHIEF 20
Officer
$0 $0 $0
MIKE COBB ASST CHIEF 20
Officer
$0 $0 $0
COLTER PERRY CAPTAIN 5
Officer
$0 $0 $0
JACOB LOWERY CAPTAIN 5
Officer
$0 $0 $0
ZACK IVIE CAPTAIN 5
Officer
$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 $243,302 $43,122 $691,481 $200,180
2023 $293,905 $73,144 $491,302 $220,761
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