Ideal Firefighter Relief Assn

Nonprofit profile at a glance

EIN
411821251
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Pequot Lakes, MN, USA
Phone
2185436223
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Disaster Preparedness and Relief Services

Reported finances

Revenue
$280,771
Expenses
$36,003
Assets
$2,029,937
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • MARK SHERMAN (PRESIDENT)
  • ELI LOVEN (VICE PRESIDENT)

Highest reported compensation

  • MARK SHERMAN (PRESIDENT): $599 total reported compensation
  • JEFF HOLUBAR (TREASURER): $599 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 association accumulates funds for retirement benefits for its members - volunteer firefighters of the ideal fire department.

What it reported doing in 2023

Provide retirement benefits to volunteer firefighters of the ideal fire department

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 19
  • Transparency & Controls: 92
  • Accountability: 72
  • Sustainability: 89
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.1%; rating input score 6
  • Program expense ratio: 47.6%; rating input score 48
  • 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: Yes; rating input score 100
  • 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 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 87.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 56.38; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 6.1% of revenue deployed · 47.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17K in reported program spending
  • Leadership: top reported pay $599 · 8 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 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 6/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 48/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.