Rosemount Fire Relief Association

Nonprofit profile at a glance

EIN
416077996
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Rosemount, MN, USA
Phone
6513222031
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Insurance Providers

Reported finances

Revenue
$324,775
Expenses
$72,918
Assets
$6,746,127
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • GREGORY WERNER (PRESIDENT)
  • ANDREW LARSON (VICE PRESIDENT)

Highest reported compensation

  • TIM BEHRENDT (TREASURER): $2,500 total reported compensation
  • REED DRANGSTVEIT (SECRETARY): $2,500 total reported compensation
  • GREGORY WERNER (PRESIDENT): $800 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 primary purpose of the organization is to provide retirement benefits to volunteer fire fighting members.

What it reported doing in 2024

Primary purpose is to provide retirement and disability benefits to volunteer fire members. The association had 3 retired firefighters entitled to benefits and 54 active plan participants as of december 31, 2024.

Operating model

Revenue model
Grant-funded. 86% of the money available for current operations came from government grants.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. 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: 44
  • Transparency & Controls: 90
  • Accountability: 38
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.9%; rating input score 29
  • Program expense ratio: 83.1%; rating input score 83
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 15th 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 77.5%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 92.52; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 28.9% of revenue deployed · 83.1% of spending went to programs
  • Governance: 2 of 6 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $61K in reported program spending
  • Leadership: top reported pay $2K · 6 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 29/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.