Detroit Firemens Fund Assn

Nonprofit profile at a glance

EIN
381681020
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Detroit, MI, USA
Phone
3136280099
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,424,710
Expenses
$1,181,245
Assets
$3,409,561
Liabilities
$10,970

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • JOSEPH PALM (TRUSTEE): $12,859 total reported compensation
  • PATRICK SCHWARTZ (TRUSTEE): $12,859 total reported compensation
  • JON BOZICH (TRUSTEE): $12,859 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the Association is to pay benefits to members or their beneficiaries in case of accident, sickness, retirement or death in accordance with the bylaws

What it reported doing in 2023

Death benefits

Operating model

Revenue model
Membership-supported. 91% of the money available for current operations came from membership dues.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 71
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.8%; rating input score 73
  • Program expense ratio: 75.2%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.1%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 2.89; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 72.8% of revenue deployed · 75.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $13K · 8 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.