Firemen's Association of the State of New York Foundation Inc

Nonprofit profile at a glance

EIN
141835837
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Albany, NY, USA
Phone
5184340987
Rating
94
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$7,940,824
Expenses
$6,810,462
Assets
$170,150,326
Liabilities
$30,409

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • John Farrell Jr (President)
  • David Schmidt (Vice President)

Highest reported compensation

  • Diana Pfersick (Secretary): $4,904 total reported compensation
  • Andrew Pilecki (Treasurer): $4,904 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Foundation was formed to operate exclusively for the charitable and educational purposes of promoting fire prevention, education and training, and support of the

What it reported doing in 2024

Grants are used towards educational purposes of promoting fire prevention, education and training, providing scholarships, and supporting the indispensable charitable activities of the volunteer fire service throughout New York State. During the Current year the Foundation gave grants of $6,199,198 to the Firemens Association of the State of New York. A substantial portion of the grant to FASNY was used to support the operations of the FASNY Firemens Home which provides a retirement and skilled nursing care facility to eligible former members of the NYS volunteer firefighting community. Additional grants were given to the FASNY Museum of Firefighting totaling $300,000 to support educational programming regarding the history of volunteer firefighting in the State of New York.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.4%; rating input score 95
  • 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.2%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 24.98; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.5M in reported program spending
  • Leadership: top reported pay $5K · 12 people listed
  • Highest-paid contractors: 1 contractor listed · $283K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.