Firemens Relief Assns of Minn Golden Valley Fire Dept Relief Ass

Nonprofit profile at a glance

EIN
416038826
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Golden Valley, MN, USA
Phone
7635938057
Rating
56
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$343,366
Expenses
$85,980
Assets
$7,579,138
Liabilities
$11,656

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Jeff Piper (President)
  • Josh Knudsen (Vice President)

Highest reported compensation

  • Matthew Preston (Secretary): $3,000 total reported compensation
  • Jeff Piper (President): $1,350 total reported compensation
  • Josh Knudsen (Vice President): $1,350 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 Association communicates fire awareness to city residents and receives and manages funds that provide retirement and disability benefits for firefighters and their families.

What it reported doing in 2024

To manage the Relief Association's pension and benefits, to advance fire prevention and education, to support camaraderie among firefighters, their families and the community, and to provide relief to those in need.

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
Distribution model
Member-benefit provider. The nonprofit used 85% of its reported program spending for member benefits.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 92
  • Accountability: 38
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.7%; rating input score 21
  • Program expense ratio: 64.9%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 16.7%; rating input score 17; 14th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 75%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 88.15; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 20.7% of revenue deployed · 64.9% of spending went to programs
  • Governance: 1 of 6 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $56K in reported program spending
  • Leadership: top reported pay $3K · 6 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 21/100.
  • High — Accountability: Independent voting board scored 17/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.