New Richland Firemen's Relief Association

Nonprofit profile at a glance

EIN
416034793
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
New Richland, MN, USA
Phone
5074568410
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$184,028
Expenses
$119,971
Assets
$671,215
Liabilities
$412,569

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DAN BUDACH (PRESIDENT)

People named in this filing

  • DAN BUDACH (PRESIDENT)
  • CHAD NIETZEL (VICE PRESIDE)
  • CORBIN PEDERSON (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide pension benefits to volunteer firemen.

What it reported doing in 2024

Under charitable gaming license from the state of Minnesota, the organization conducts lawful gambling at two area locations. In accord with state regulations, the organization made five donations to the community school in support of activities and one donation to the city of new richland for the capital expenditure fund to support the community.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 87
  • Accountability: 62
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.6%; rating input score 68
  • Program expense ratio: 94.6%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94%; rating input score 94; 54th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 34.8%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 5.59; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 47.5% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 34.6% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 67.6% of revenue deployed · 94.6% of spending went to programs
  • Governance: 24 of 25 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $114K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.