INDEPENDENT FIRE COMPANY NO 1 FOUNDATION INC (EIN 821638680) - 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

2017

Legal Domicile

Principal Officer

AARON WATSON

Phone

3047252514

Tax Period

2023-01-01 to 2023-12-31

INDEPENDENT FIRE COMPANY NO 1 FOUNDATION INC, founded in 2017, is a small nonprofit in the Public Safety sector that reported $368K in total revenue in fiscal year 2023. Revenue surged 201% from the prior year, signaling strong growth momentum. The organization ran a surplus of $316K, a strong 86% operating margin.

Mission

THE FOUNDATION IS ORGANIZED TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, PERFORM THE FUNCTIONS OF, OR CARRY OUT THE PURPOSES OF INDEPENDENT FIRE COMPANY NO. 1, INC., INCLUDING BUT NOT LIMITED TO HOLDING AND MANAGING INVESTMENT ASSETS AND CARRYING OUT FUNDRAISING ACTIVITIES TO BENEFIT THE MISSION OF THE COMPANY.

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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 $0

Investment Income $367,935

Other Revenue $0

TOTAL REVENUE $367,935

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $51,570

Other Expenses $51,570

TOTAL EXPENSES $51,570

Year-over-Year Comparison

	2023	2022	Change
Revenue	$367,935	$122,105	+2.0%
Expenses	$51,570	$58,342	-0.1%
Net Income	$316,365	$63,763	+4.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AARON WATSON	PRESIDENT	N/A	Officer	$0	$0	$0
JACK WYSONG	VICE PRESIDE	N/A	Officer	$0	$0	$0
TERRY CARPER	TREASURER	N/A	Officer	$0	$0	$0
GEORGE HARRIS	SECRETARY	N/A	Officer	$0	$0	$0
ED SMITH	TRUSTEE	N/A	Director	$0	$0	$0
MICHAEL HOUGH	TRUSTEE	N/A	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	$367,935	$51,570	$6,536,688	$316,365
2022	$122,105	$58,342	$5,796,341	$63,763
2021	$353,618	$41,324	$6,583,476	$312,294

INDEPENDENT FIRE COMPANY NO 1 FOUNDATION INC