Lakefield Fire Department Relief As

Nonprofit profile at a glance

EIN
416038114
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Lakefield, MN, USA
Phone
6057595976
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$76,136
Expenses
$66,872
Assets
$1,055,010
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Josh Bretzman (President)
  • Zachary Croatt (Vice-President)

Highest reported compensation

  • Cody Poelaert (Treasurer): $575 total reported compensation
  • Josh Bretzman (President): $100 total reported compensation
  • Randon Johnson (Secretary): $50 total reported compensation

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

Overview

Mission

Firefighters Pension Plan

What it reported doing in 2024

Pension Plan - Provides Retirement Benefits to Participating Firefighters of the Lakefield Fire Department.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Member-benefit provider. The nonprofit used 81% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 48
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.8%; rating input score 91
  • Program expense ratio: 100%; rating input score 100
  • 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: 50%; rating input score 50; 20th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.2%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 15.78; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 33.7% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 90.8% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 6 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $67K in reported program spending
  • Leadership: top reported pay $575 · 6 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Review — Accountability: Independent voting board scored 50/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.